The sharing economy

 

Just let this sink in: the world’s biggest accommodation provider owns no estate and the leading taxi company owns no vehicles (besides its autonomous car fleet).

Airbnb and Uber are just two success stories of businesses that did things differently. Their initial intent was to provide a platform for people to start sharing instead of just purchasing, renting or leasing. They initiated an entire new industry called the sharing economy, which grew from just a few startups in 2008 to a multi-billion industry in 2018 with a projected continued growth rate of 23% annually until 2025.

 

The traditional sharing economy is improving to become future-proof with the sharing economy 2.0. Until recently a large percentage of transaction fees for arranging a service or product went towards the platform service providers. This new sharing economy 2.0 standard adds blockchain technology and smart contracts to the space which eliminates the expensive middleman. Tokenization is also an improvement on the previous standard as it creates a dynamic ecosystem where user engagement to the platform is encouraged through incentives. Companies building on a platform can create and distribute their own tokens.

The cryptocurrency industry

 

After having an entire year of prosperity, the year 2018 has not brought cryptocurrency investors many financial gains yet. The fact that media outlets are reporting that traditional institutions, governments and businesses are looking to enter the new digital asset class of cryptocurrency doesn’t seem to have an effect on the market capitalization. The continued down trend or accumulation phase in the cryptocurrency market capitalization has no signs of being over and done with. In the meantime investors need to be more critical in supporting new and existing blockchain and cryptocurrency projects. Investors can benefit from going back to the basics and research projects that have real world use cases. This approach intends to reduce risk because quality projects, with actual use cases, tend to have a much higher chance at surviving bear markets and prosper once the market sentiment returns on a positive note.

UChain has a unique benefit of being backed by the UB Group, a holding company with several sharing economy actors with established footholds worldwide and a massive user base ready for migration onto the blockchain. UChain proposes a blockchain based Sharing Economy 2.0 solution that is comprised of a network that enables dApps to be deployed on the platform.

While UChain is currently trading below its initial ICO price, like most other cryptocurrency projects, it presents a perfect entry opportunity for those keen enough to recognize its potential.

 

UB Group

With a parent company that facilitates over 30 million users worldwide in the sharing economy industry, UChain can benefit greatly from their resources. UB Group holding is one of the world’s leading internet companies that is specialized in the sharing economy. Some of the leading brands in the Asian region that are under UB Group holding’s umbrella, besides UChain, are U-bicycle (the fourth largest bicycle sharing platform in the world) U-Car (car sharing services), U-park (smart parking service provider), GrabCycle (South-East Asia’s first bike-sharing marketplace app), LocalKing (market leader in transport sharing in Taiwan) and X-bike (frontier brand in bike-sharing in Chinese colleges).

Sharing economy entities can integrate seamlessly into UChain’s ecosystem. UChain has been continually developing their platform to be able to launch near the end of 2018. This will offer companies the opportunity to transfer to their platform and join the ecosystem early on. In a time where investors seem to be more critical regarding which projects to invest in, UChain should stand out with their large user base and real world use cases.

The sharing economy has opened itself up to countless projects that can benefit from sharing their products and or services.

Sharing economy use cases

The P2P sharing economy isn’t solely about ride sharing and the sharing of accommodation. The use cases are endless. One of the most successful applications of the sharing economy is bike sharing, which has seen a tremendous growth over the past years with bike sharing ventures popping up in almost all major cities in the world. Electric scooter sharing startup Bird, which reached the ‘unicorn’ status for being valued at 2 billion USD already, is expanding globally at a rapid pace. Food sharing platforms are popping up on various locations around the world. You can use your neighbors tools on sharing platforms like toolsity. In China even umbrellas can be shared.

UChain’s evolution

As I see it, UChain will be a gamechanger in the global sharing economy by allowing the ecosystem deployment of various dApps that can achieve real world adoption and a substantial market share in the global sharing economy industry. There is a shift taking place where investors focus on projects with real world use cases which can initiate mainstream cryptocurrency adoption. Together with the release of UChain’s mainnet, that is just around the corner (Q4 2018), what better project to invest in than a project that has an excellent risk/reward ratio as it has seen a decline in total market value, just like other cryptocurrency projects. Whether or not we have entered the accumulation phase in the cryptocurrency industry, doesn’t really matter as I feel this is a great moment to add to my UChain investment at a discount.

I feel confident that UChain will thrive towards becoming one of the leading projects in the global sharing economy 2.0. They are future-proof because of their decentralized nature and implemented blockchain technology which includes the use of smart contracts.

For more information about UChain, you can visit their official channels.

UChain official channels

UChain website: https://uchain.world/

UChain whitepaper: https://uchain.world/css/img/pdf/uchain-whitepaper-dbe5656d6c.pdf

UChain Telegram: https://t.me/UchainEcosystem

UChain Reddit: https://www.reddit.com/r/UChain