Uchain: Binding people in a decentralized shared economy
Introduction-
I have a lot of items shoved up in my house. I don't use most of them. There are cutlery I just think are boring, or curtains that lose colour for me, or clothes that are out of fashion, and so on. I never really want to throw them away, because it would be a complete waste. But nevertheless they occupy a lot of space in my house for nothing. I needed to do something about all those products. One of my neighbours had visited my place and saw the cutlery set. She fell in love with it. She wanted to borrow it. I told her that she could take it away as it was of no use to me.
During that time, an idea struck me. There are so many unused things in my house that I could easily rent, or give away or sell. That would not only cause less litter, but also be of use to other people. With this idea, I decided to have something similar to a garden sale. I thought of giving away things which would be of permanent use to people who can't afford it, selling products to people who are interested and can take it, and lastly, cater to temporary needs of people by renting products at little or no cost. The idea was a huge success. I got my space and people got the things they needed. Little did I know that I did something on the lines of how a shared economy works.
Shared Economy-
A shared economy works with lending, borrowing, exchanging and renting. Underutilized assets are made useful with such idea. This not only prevents important assets from going waste, but also helps a lot of people. With the idea of eBay in 1995, the idea of shared economy gained ground. People found a platform to sell the things they didn't need where other people could buy them easily. Uber is a very popular concept of shared economy where vehicles are utilised to help hordes of people commute regularly. There are a lot of other companies based on shared economy, like Airbnb, which has made travelling a lot easier, and cheaper. True wanderlusts who seek the rugged life of travelling minus cushy hotels and tourist destinations can easily find a place to stay, eat and sleep.
Similarly, Quora has been deemed as a platform where knowledge is shared. I personally use it a lot, and it has helped me so much. I could sit and read experiences and insights of people, and their knowledge and how they handle their lives. The idea of shared economy is amazing, but it has a lot of loopholes, like a centralized system, high transaction costs, data loss and abuse, etc. The shared economy also doesn't have a true peer to peer network. Eliminating these issues can cause the economic model to gain popularity.
Uchain-
With such an idea, comes Uchain, a decentralized platform based on blockchain technology, smart contracts and cryptocurrencies, and a true peer to peer network in a distributed ledger system. With the help of this platform, intermediaries are removed, lowering transaction costs. Data loss and abuse is narrowed to minimal because of blockchain. Blockchain also increases the transparency and security, thus increasing trust.
And we all know, that a global sharing economy can truly succeed only on the basis of trust. Apart from removing all the problems, Uchain also has a DApp called U-bicycle, a sharing bicycle platform which is also the first sharing service platform on blockchain. The UCN Tokens are the internal cryptocurrency of the ecosystem and all transactions take place via those tokens.
Conclusion-
Thus, Uchain aims to disrupt the primitive shared economy model and mould it to make a place which is imbibed with trust and transparency. With a competent team and an amazing idea, it'll surely succeed.
Website - https://uchain.world/
Whitepaper - https://uchain.world/css/img/pdf/uchain-whitepaper-dbe5656d6c.pdf
Telegram - https://t.me/UchainEcosystem
ANN - https://bitcointalk.org/index.php?topic=4667269.msg%msg_id%
Published by - dannywhelan
Btalk profile - https://bitcointalk.org/index.php?action=profile;u=1606458