UMKA: decentralized market ecosystem

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Introduction...

The crypto-world and the global economy system is really serious on taking the ecosystem to a new revolution level. This is because the whole system is transferring into a digital ecosystem. Millions of transfer and capitals that are carried out today is through the process of paperless transaction and this method is made possible through the emergence of the cryptocurrency which has really taken the economics system to a new level.

When it come to the financial world,the crypto-world have not really address the need of the financial system and this is because the banking system and the authority has restricted the cryptocurrency from carrying out its purposes. So as a result of this and so many other issues,umka came into he cryptoworld to solve and tackle this issues once and for all.

UMKA OVERVIEW

Umka is an efficient project implementation and also a team building tool that is based on the block chain technology. Umka can be seen as a financial safety for all the users . it is a comfortable space for maximum cooperation that exist between employers and the contractors and it also offer a wide array of many useful tools that is integrated into the system. The platform has secure contracts which is use for making milestone payments because they make easier managing difficult long term projects. It has digital passport which contain he users data.

    The umka mobile app

This data is been store on the blockchain system. It has all the useful information about the users skilss and qualifications. The digital passport makes it easier for the employers to be able to find freelancers that has the required ski set. The platform makes use of secure contracts with the help of a unique AgileSC which stand for Agile smart contracts technology. It also have arbitration system that is used for resolving disputes that may arise or occur inside the platform. Another useful tool is the GNMT and it stands for google neural machine transaction,this tool is integrated inside the umka chat engine platform and it is used to help users from different countries communicate with each other freely.

This umka offers thousands of its users freelancers with the required competence levels that is already been recorded in their electronic passports. It offers job search and makes it possible for the employers to set the precise requirement for the freelancers and at same time they are able to build competence while following the market trends. The platform has some interesting features such as a customer oriented service and also a 24 hour technical support ,it also has a user friendly interface that is implemented as a mobile application,a web version and a desktop clients.

UMKA PLATFORM

This platform introduces an assets for cryptocurrencies and also fiat currencies. This assets is called tokens and this tokens are currencies used in umka platform for transactions and payments. This assets help to minimize transactions costs for its users,since the flow of funds inside the platform will not be influenced by any other blockchain or even bank commissions. They are also used for fast work in terms of smart contract and also the financial security guaranty for the users.

PROBLEMS AND UMKA SOLUTIONS

Services of the financial sectors have a very high commission fees that is found on the freelance platform market and the changes ranges from 2.7% and 20%, umka commission fee is just at the rate of 1% per each transactions. Another case is the issues of speed ,all the currently existing decentralized solutions are slow and has expensive ethereum blockchain, umka makes use of EOS blockchain and it is a new generation blockchain that has fast and free smart contracts. The financial sectors always have disputes situations and this disputes are not always solved by the two parties involved, but in the case of umka, it has two ways of settling disputes without any third party involved. When making a secure deal on other platform using smart contracts,the users can't break the payment and work into several stages which increases risk.

In umak platform ,it uses Agile smart contracts and this contracts uses a unique technology that is developed by the umka team. The teams makes it possible to break a project into iterations,set milestone and even set them up by just adjusting the three parameters.

UMKA TOKEN

The umk token guarantees the holder participation in the distribution of the platforms revenues. This tokens are seen in the holders wallet and the reward are accumulated proportional to the amount of the tokens. The fee is 1% of all transactions carried out by the user. This fees is used to create confidence within the system and also make the service free from the freelancers that act as a guarantors of integrity of employers.