UBCOIN: REVOLUTIONIZING PEER-TO-PEER MARKETPLACE USING BLOCKCHAIN TECHNOLOGY
Our product is founded on the following cornerstones: Cryptocurrency mass adoption. We promote mass adoption of digital assets that are both a means of settlement and an investment vehicle, thereby enlarging benefits for all parties to everyday buy-and-sell interactions. Peer-to-peer interaction. Cut out as many intermediaries from the value chain, as possible. The platform facilitates smart contract execution between independent parties. The Ubcoin Marketplace does not own any goods for sale, it is not biased in its search results, and protects fairness of smart contracts.
Legal marketplace. We pay special attention to ensuring the legitimacy of goods and services sold on the Ubcoin marketplace. We are developing an advanced AI technology to help pre-screen seller postings for any potential infringements of reason, morality, safety and due care. Seller profile transparency and verification will be strongly encouraged and promoted.
Decentralization of transactions and settlements. Blockchain allows for decentralized initiation, settlement and fulfillment of transactions. Payments are immediate upon performance under carefully crafted smart contracts. Impeccable interface. Our interface design brings a harmonious and seamless experience of buying and selling goods globally. We will strive to open our API to the community in order to develop the best adaptation of the platforms for specific local needs of the global community. Open community. Some transactions may, in the future, 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). Ubcoin platform envisions seamless engagement of these parties.
Product Description and Features
Ubcoin is a mobile app, which brings together sellers and buyers in one convenient marketplace, and facilitates payment in UBC cryptocurrency. The Ubcoin app provides convenient search tools, facilitates payments and regulates business relations between buyer and seller using a set of smart contracts on Ethereum blockchain. The platform will utilize the development of numerous tools for supplying rich information necessary for making decisions in regard to buying or selling products Specifically, extensive and content-rich product descriptions, seller and buyer ratings, reviews, terms of sale and execution of smart contracts. Ubcoin is not a new standalone app, it is a new set of features, a logical next step in development of Ubank, a leading mobile payments app in Eastern Europe.
At the initial stages of the project the main focus will be customer acquisition and rapid geographic expansion. While exact timing of entering markets will change, we seek markets with a combination of substantial cryptocurrency investor base or interest therein, warmer regulatory outlook on crypto transactions, underbanked population and proliferation of peer-to-peer transactions. We see significant potential in developing markets of Eastern Europe, Southeast Asia, South Asia, Middle East and Africa, Latin America.
One of the most important goals of ICO is to fund the global expansion. Depending on the success of the crowdfunding effort, we plan to spend between 25% and 40% for international marketing. Another main driver of the growth of business, starting in 2019, is attracting sellers from the SME sector who are more likely to actively use additional paid instruments for promoting the sales of their goods.
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