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UChain ICO

UChain 6/10 ICO 

UChain is basically a platform that facilitates the development of dApps that utilize a sharing based economy and considered as the first public infrastructure blockchain. UChain aims to build its underlying blockchain network to solve the current problems of trust and data abuse.

What is UChain?

UChain attempts to finalise a solution for the problems of Peer-to-Peer network, Distributed Data Storage, User Credit Passport, and Token Incentive.

Through the execution of API’s and SDK’s, all sharing economy enterprises are able to issue their own token, building upon their application on top of the UChain network, making UChain a global autonomous sharing ecosystem.

UChain will join the ranks under the umbrella of U-Bicycle, the world’s leading Internet company specialising in shared travel. Parent company to many leading eastern brands such as U-Car, U-Park, Grab-cycle, X-Bike, etc. and the tech will be implemented into existing U-Bicycle entities immediately.

What is the Token for?

  • Transaction value: UCN is circulated in all DApps built on top of UChain as payment for all kinds of transactions.
  • Supply chain vouchers: UCN can be used as vouchers for the purchase of assets from suppliers.
  • Data contribution rewards: Users will be rewarded with UCN if they decide to contribute their data to the development of the ecosystem.
  • Value-added services: UCN can be used for payment of API services provided by UChain.
  • Community rewards: UCN will be rewarded to the community contributors such as third-party developers and community operators.
  • User incentives: UCN can be earned by improving your community activity such as on-boarding more users and creating valuable content.
  • xFees: All fees will be denominated in UCN such as transaction fee from Sharing services and DEX.
  • Ad delivery: UCN can also be paid for advertisements deliver through the UChain advertising system.

Team
The founders are both working as CEOs of U-bicycle which is a world’s leading internet company. Business wise, both of them are very experienced and competent. The rest of the team are well experienced when it comes to software development.

The team’s advisory board are mostly ICO experienced companies that have established successful coins or ICO’s such as Red Pulse, Apex, ConsenSys.

Partnerships:

The team has made partnerships with reputable and well established transportation companies like Grab and translink. Moreover, the company has made partnerships with companies that can help them fulfil their plans and established the UCN platform.

The company is partnered and will join the ranks under U.B. Group Holding which owns a lot of sharing platform in the world like U-Bicycle, X-Bike, LocalKing, GrabCycle, U-Park, and U-Car which implies that UChain could be huge in the future

Concerns of the ICO

  • The company is relatively young but the leadership behind the parent company is well experienced.
  • The company has no existing platform yet.
  • Uchain has many competitors within the market.
  • Hard cap is high considering parent company has capital

Conclusion

  • The project is attacking existing problems in sharing economy like excessive transaction cost, trust and data abuse.
  • It started with the parent company, U-Bike which has an established reputation and a proven company – making it an excellent stepping stone for UChain to jump forward on.
  • The team is well-experienced in the sharing economy industry and has execution experiences. However, the developers have no experience within the blockchain industry.

Overall, the future seems very promising for this project. And the hype is starting to grow.

 

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