Crypto currencies are digital assets which are accepted as a means of exchange and execution of transactions. They are alternatives to Fiat money.
Mobile marketplace can be described as the process of exchange of goods and services using a mobile device i.e. it involves the purchase of products by consumers using their smartphone devices.
OVERVIEW
The crypto market has been growing at a very fast rate over the years since the introduction of crypto currencies which are traded in the crypto market. This has led to an increasing adoption of these currencies by individuals and businesses who see it either as a means of getting quick wealth or as a reliable tool for investment because of its promising potentials.
According to reports, the number of persons holding crypto currencies is estimated to increase nearly 10- fold of its current number of 22 million to 200 million globally by 2020. The simplest way to acquire this currency is buying exchanging goods for crypto.
The current market cap for crypto currency is over $300 billion and many persons have made quite a fortune owing to the potentials the market entails. The reason to acquire wealth is not just to lock it up in someplace but to be able to use that wealth to improve one’s standard of living, this can be achieved by purchasing assets that will make life a lot better which ultimately will lead to an improved welfare.
Reports also states that nearly half of buying and selling online occurs in the marketplace, predictions has it that mobile commerce will in no time surpass web commerce as mobile market app penetration on smartphones will reach 37% of the world’s population in 2020.
Existing crypto exchange solution were strictly executed on the web which were sometimes open to cyber attack, cost ineffective and slow. Crypto wallets are mainly concentrated on mobile phones with more than 65% of wallets already used on mobile devices, there is a need for mobile market solution for trading crypto currencies for goods.
Ubcoin, aims to create a digital market place to enable individuals, business men and organization to invest in crypto currencies and give them the ability to buy and sell real goods using their crypto.
PROBLEMS ASSOCIATED WITH CRYPTO EXCHANGE SOLUTIONS
The following problems are associated with current crypto exchange solutions. They include:
Crypto exchange solutions charged high fees for converting crypto currencies to Fiat, crypto investors that used these exchanges often complained of high transaction fees charged by the platforms which greatly reduce the value of the currency.
Exchange solutions are not secured and transparent in executing transactions as there are cases of fraud on their platforms.
Registration process on these platforms is so slow, complicated and cumbersome, crypto traders had to wait for hours and even days before transactions were completed e.g. localbitcoin.
SOLUTION
The following solution will be provided using the Ubcoin platform, they include:
Ubcoin adopts blockchain technology which utilizes smart contracts to provide a safe, secured and transparent marketplace for crypto to goods services.
The platform offers a decentralized medium for executing transactions, payments on the platform are made using smart contracts technology.
Ubcoin provides a legal marketplace for goods and services, the use of artificial intelligence on the platform helps to pre-screen products displayed on the platform to ascertain its legality.
Ubcoin provides a user friendly interface for executing transactions thereby giving users a pleasurable and seamless experience of buying and selling goods worldwide.
What I Think
Ubcoin seeks to provide a global mobile marketplace for crypto to goods services thereby increasing the adoption of crypto currencies, adopting blockchain technology, smart contracts and artificial intelligence.
Ubcoin offers a way to improve your standard of living by trading your crypto for goods and services. This can only be fulfilled by making the Ubcoin decision and joining the Ubcoin ICO which is presently ongoing.
You can get more information about Ubcoin and its ICO from the links below:
Website: https://ubcoin.io/
Whitepaper: http://doc.ubcoin.io/whitepaper.pdf?v1
Telegram: https://t.me/ubcoin
Facebook: https://facebook.com/Ubcoin-838741126308809/
Twitter: https://twitter.com/ubcoin
ANN Thread: https://bitcointalk.org/index.php?topic=3109856.0
Author: Sorento
Bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile;u=1910177