INTRODUCTION
A marketplace is described as a place where commercial activities takes place; a place where goods or services are exchange for valued cash or money. In a Nation or global stance, a market has a delicate portion in its economy, that is; no economic growth without the marketplace.
Inevitably as stated, the marketplace is nitty-gritty in the development of a nation’s growth and advancement, hence, a perspective to be considered for true innovation (make improvements). In recent times the internet introduced the basis of an online marketplace, where goods or services can be obtained without having to go to one or rather look for a seller or middlemen to get your desired service or goods.
The internet enabled quick and fast transactions amongst traders and customers, mostly on a centralized system - multiple legal entities that creates and manages payments by making use of a single legal entity to handle all payments. The internet birthed so many online marketplaces (AliExpress, Alibaba, Amazon etc...) or virtual shops for the public exposed to internet and it dealings.
Blockchain technology has gotten into the ‘online marketplace’ perspective, primarily improving the online marketplace causing a safe, fast, record keeping sensitive and a decentralized system.
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Introducing the ‘Ubcoin Marketplace’ an extension of the pre-existing Ubank. Ubcoin is a newly conceived innovative strategy of Ubank- a company existing since 2009. Ubcoin Marketplace is a global mobile marketplace for buying and selling real world goods for cryptocurrency. The Ubcoin marketplace is an extension of the Ubank mobile app having over 16million installation worldwide and pre-installation in Samsung & fly Smartphone.
The Problem
The adoption of digital currency or cryptocurrency is becoming inevitable, here in a case where people want to obtain stakes of cryptocurrency by means of buying and selling real life goods and investments. From Ubcoin’s research, a large portion of $300 Billion worth cryptocurrency is ripe for spending - conversion into physical assets.
Around the world, people do not have the full trust and interest to invest their earned cryptocurrency; can be by creating a virtual stock of products online for sales,because they fear some certain limiting factors in the blockchain system. This is where Ubcoin and trust of cryptocurrency or digital money/currency comes in. Creating its own online marketplace where real life products can be sold or bought to obtain cryptocurrency as means of payment.
The Ubcoin Solution
The primary aim of the Ubcoin online marketplace is to proffer solution to the pre-mentioned problem of individuals yet not fully trusting the blockchain system, making individuals not having full interest in Crypto-Trading.
Powered by blockchain (ethereum & UBC)
The global ubcoin marketplace is powered by Ethereum blockchain and Ubcoin ‘UBC’ exchange-traded cryptocurrency enabling peer-to-peer contact amongst its participants, for the sellers to receive cryptocurrency for their products as means of settlement,hence leading to subsequent mass adoption of cryptocurrency. And also buyers can inevitably say that they have the enormous purchasing power with their crypto-wealth to get whatever they want on the platform.
Smart contract technology
The Ubcoin marketplace platform uses ‘Smart contract technology’ to ensure safety, executability, intractability and verifiability of transactions and successfully facilitating peer-to-peer transactions in the system.
The smart contract technology will help to totally eliminate the essence of middlemen or intermediaries in the completion of transactions within the platform, Ubank is offering the so called ‘Ubcoin marketplace’, hence a system operating the manufacture -consumer transaction. The project also made strategic plans for the future when transaction may require additional KYC/AML procedures for execution of smart contracts for certain types of deals, involving third-party providers (i.e.delivery companies, couriers, notaries). The Ubcoin platform envisions seamless
engagement of these parties.
Checkmate products & services traded on the platform
The UBcoin platform will develop an AI into its platform to ensure the legitimacy of goods and services traded on it. AI tech will screen the postings made by sellers or providers of a service to ensure morality, checked infringements, safety and due care.
Ubcoin’s Chance In The Market
Ubcoin has strategically made analysis of the market before the fruition of the project to have due knowledge in making a breakthrough in blockchain tech and adoption. Is no doubt that mass adoption of cryptocurrency is imminent; hence the number of digital buyers worldwide is projected to surpass 2 billion individuals by 2020 from Ubcoin’s analysis.
Ubcoin Marketplace Product
Ubcoin wants to create a platform to be based on the following as its Focus:
Ubcoin’s Technology
As earlier stated, Ubcoin marketplace applies blockchain technology to to create, manage, and operate tokenized cryptocurrency trading. Ubcoin Platform operates on Ethereum-based smart-contracts.
Basic system modules:
- Authorization service Ubcoin-ID;
- Billing system (wallet management, deposit/withdrawal, internal transactions);
- Anti-fraud system (AI, internal regulations, ML);
- Ad platform (placement and management, premium functionality, catalogue and
search); - Auction platform (auction placement and management);
- Transaction management system (holding of funds, transaction confirmation,
transaction history); - Moderator and system administrator office;
- Customer support and arbitration system.
Why CHOOSE/INVEST in Ubcoin?
Ubcoin’s platform which is based on cryptocurrency (blockchain tech) wants a total revolution by introducing the ubcoin marketpace platform to bring together a never imagined sense of cryptocurrency and a real marketplace, in which real life goods or services can be acquired using ETH or UBC.
Token Details
TOKEN DISTRIBUTION
ROADMAP
THE TEAM & ADVISORS
TEAM
ADVISORS
CONCLUSION:
Ubcoin has apparently showed that they can actually transform the normal online marketplace to a safe and secured global marketplace where goods and services meets with cryptocurrency and with its set of analysis, roadmaps, and Vision, the Ubcoin marketplace will indeed cause a revolution in the conceptualization of an online marketplace.
For more information about Ubcoin, please use any of 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
Medium:https://medium.com/@ubcoin
Bitcointalk thread:https://bitcointalk.org/index.php?topic=3094107
About Author:
Author:Yaksonfella
Bitcointalk profile link:https://bitcointalk.org/index.php?action=profile;u=2322601
ETH wallet address: 0xa5198993a6A66f708F0E81b7FFb627A9DDd55cDC