Nowadays, the sharing economy represents one the quickest increasing business segment. It gives people the possibility to share certain services with interested persons. For example, let their own house/apartment out on lease instead of booking a hotel room, borrow nearby cars during specified time instead of using taxi cabs, etc.
However, the conventional sharing economy encounters various obstacles preventing it from being the most trustful and profitable business area. With this in mind, UChain team has worked out solutions to address the existing challenge and make their project worth investing money in.
UChain is a platform that has developed an infrastructure for worldwide sharing economy. It attaches prime significance to providing a range of protocols that will give customers and sellers the ability to create decentralized trading places on the blockchain technology basis, where they can find each other and acquire or sell diverse services. Any arrangement can be performed more instant, but companies might not be able to centrally manage user information and raise the costs to obtain more benefit.
Notwithstanding the mentioned above, UChain points to render services for small or medium companies, which would be able to achieve competitive advantages over large branded companies in the sharing industry. Any sharing economy businesses can release proper tokens and initiate an application in the UChain system building up an international sharing economy environment. The decentralized support environment can expand all customers and merchants' opportunities. UChain tokens (UCN) will be applied as a basic currency within the platform.
The UChain concept of using blockchain for the sharing economy brings data safety to another level. The information related to transactions between suppliers and customers and their identification data is completely traceable. UChain can modify the users' information access via smart contract, only with the user's concern. Large files will be segmented and kept within numerous nodes as a substitute for being stored by companies in a bundle. This will prevent hacking the entire network file and companies will not be able to sell user information with no notice.
Summing up, one can say that with the development of blockchain technology and ICO, every interested person is able to invest the desired amount of funds into different ICO offerings. The absence of intermediaries gives investors the opportunity to make more profit and decreases the transaction fee. UChain seems to be a promising, worth trusting project and one can hope that it will achieve best results within the nearest future.
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Authored By: x0r2
