April 20, 2018

Ubcoin - New Decentralized Marketplace For Buying / Selling Goods For Cryptocurrency

Electronic money is growing in popularity, and blocking technology is integrated into all areas of our lives. And in fact, this process can not be avoided. According to forecasts, by 2020 the number of holders of crypto currency assets will increase 10-fold. Agree, the prophecy is impressive. But even today there is a problem of a lack of widespread opportunities to acquire and sell goods for crypto currency. This is not about individual stores or services (which are not too many), accepting in addition to electronic money and fiat. This is a question about other global markets, which will also be presented on the Internet. And now considering this issue, you need to pay attention to a very interesting project - Ubcoin Market.

About

Ubcoin Marketplace — the next leap forward for Ubank, leading mobile payments app in Eastern Europe. Now with Ethereum blockchain, exchange-traded UBC cryptocurrency, and peer-to-peer smart contracts for buying goods for cryptocurrency.

Currently, tens of millions of people legitimately have cryptocurrencies. Hundreds millions of people around the world are aware of crypto and want to get it. Many crypto views as a means of investment with amazing results, and others seek benefit from unlimited digital transactions and new business opportunities provided by blockchain technology.

The massive adoption of crypto is inevitable and imminent. The cause and credit are owed to many entrepreneurs and visionaries who are pursuing footprints, including Ubcoin's sources inspiration and a highly respected object, Telegram. When mass adoption will take place must come sooner than later. Consumers need a simple, fast and secure way get digital currency.

Cryptococcal capitalization fluctuates about $ 400 billion. But the government, banks, and international payment systems around the world pull their feet in establish clear rules in regulating crypto transactions to enable law-abiding citizens buying and selling physical goods using their digital assets. Mostly $ 400 billion is ripe for expenditure - conversion into physical assets. Ubcoin's corporate objective is to empower consumers worldwide to invest in crypto and to enjoy the buying power of their crypto investment by creating Ubcoin a digital market where they can freely and securely buy and sell goods cryptocurrency

Ubcoin platform features

Before describing the Ubcoin features It must be noted that Ubcoin application was developed as a logical step in the development of Ubank, a popular mobile payments application in Eastern Europe.

So, the new Ubcoin features of Ubbank application will include the following:

Possibility to process seamless digital transactions afforded by blockchain technology;
Direct manufacturer-to-customer interaction thus more attractive pricing for buyers and sellers;
Pre-screening engine for product descriptions, content and user reviews;
Enhanced search engine based on geography, ratings, reviews, prices, and product descriptions;
Fast conversion between crypto and fiat currencies in the process of buying/selling goods;
Transparent and secure transactions due to smart contracts facilitating peer-to-peer interactions;
Convenient tools for sellers and buyers which include: managing, promoting and targeting sale posts, statistics section, payment management screens, seller's and buyer's cryptowallets, saved favorites, smart search and recommendations engine etc.

The Ubcoin Platform operates on Ethereum-based smart-contracts thus applying blockchain mechanisms to create, manage, and operate tokenized cryptocurrency. For better understanding the platform structure can be presented by the given below scheme:

Goal

The platform will use the development of numerous tools to provide rich information needed to make decisions regarding the purchase or sale of goods. In particular, extensive and detailed product descriptions, ratings of sellers and buyers, reviews, terms of sale and performance of intellectual contracts.

The project aims to develop in the markets of Eastern Europe, Southeast Asia, South Asia, the Middle East and Africa, Latin America.

Ubcoin also plans to create regional marketing teams to support local events, including the formation and development of a regional user of communities, targeted advertising campaigns and coordination of marketing activities. Part of the marketing budget involved with the sale of tokens will be spent on: a more in-depth study of local markets. ICO will attract funds for the rapid development of UbcoinMarket and global expansion.

Benefit

Minimum of intermediaries. With the help of the application, the number of participating links in the sales process is minimized as much as possible. Now this process happens P2P, according to the terms of the smart contract.

Legal protection. The company takes maximum measures for the legitimacy of goods and services on the Ubcoin market. Profiles of sellers will be checked, and any potential violations will be excluded.

Decentralization. The appendix provides that the initiation, settlement and execution of transactions will be recorded in the block. Thus, all the necessary information will always be available, and, very importantly, no one can change it.

Interface. The interior of the application is designed taking into account the best world trends, and is designed to create the most convenient conditions for both the seller and the buyer.

Conclusions
We deal with a very interesting undertaking related to using cryptocurrency for real-world purchases. The Ubcoin project gives the opportunity for businesses and individuals to take benefits from implementing new payment methods where cryptocurrency can be used for buying or selling goods worldwide. Such innovative approach will allow really fast interactions between buyers and sellers with greater transparency and security thus building a trusting environment and clearer rules for all parties. Investing in UBCoin is very promising in terms of high return on investments so let us take a closer look into this project and keep tracking the progress of fundraising and advertising campaigns so that to be able to make a more grounded investment decision.
Token details & ICO terms

The Ubcoin project has created the UBCoin tokens (UBC) serving as the utility for the decentralized marketplace and used by participants worldwide for exchanging real goods for cryptocurrency and vice versa in a cost-effective manner. Let's have a look at a more detailed UBC tokens specification:
Token Name: UBCoin
Token Symbol: UBC
Token network: ERC20
Maximum supply: 4 billion tokens
Soft cap: $2 million
Hard cap: 179 thousand ETH (approx. $68 million @ ETH = $380)

The Ubcoin project position themselves as early adopters thus attracting a lot of institutional investors and private individuals who pour money in the form of ICO in order to get high returns on investments. The Ubcoin ICO is ongoing at the moment and will last until 31st of May. It is split into several ICO stages each providing generous bonuses for early investors except stage three when there will be no discount. It must be noted that Limited Private Pre-Sale is over now.