Independent research on blockchain startups and ICO’s

Uchain (UCN)

05 Jun 2018

ICO date:  June/July 2018

Whitepaper      Company Website

The next generation blockchain for the sharing economy

UChain is a public blockchain infrastructure project that seeks to establish itself as a pioneer of the“Sharing Economy 2.0” platform. They are providing the solution for trust and data abuse that is prevalent within the sharing economy ecosystem. The first DApp to be released on Uchain will be U-Bicycle, an existing bicycle sharing service.

UChain headquarters is based in Canada, with offices in Shanghai and Singapore. Their goal is to recreate value through a new model, “Sharing Economy 2.0”. They are establishing a decentralized Blockchain platform where users could easily share, make payments and transact sharing services across a peer-to-peer network. Their aim is to cut off intermediaries, in turn helping users and service providers to generate costs savings. Some of the issues they seek to resolve include:

1. Excessive transaction costs – Huge commissions earned by centralized sharing economy companies (eg. Uber @ 20%)

2. Trust issues between consumers and suppliers

3. Security of users’ data – this flaw is becoming more significant with the recent breach by Facebook that affected 87m users

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