Blockchain technology has already believed to be a game-changing tech that can revolutionize countless industries, and change the world while doing it. It brings increased security, speed, and total decentralization. By taking away power and control from centralized institutions and giving it back to the people, it might be one of the biggest changes that the modern world had ever experienced.
Of course, blockchain is still considered to be in its infancy, and such a rapid change will take time, with centralized institutions fighting it during every step. This is why blockchain's battle for going mainstream advances slowly. However, many see it as a good thing, as the blockchain has time to mature and reach its full potential in its own time.
New use cases for this technology are emerging all the time, and one of the greatest one is the easy and secure way to share information and data. Data sharing has been easy ever since the internet itself came to be, but there were always problems with trust and data abuse, which is what blockchain can change forever through projects such as UChain.
UChain claims to be the first public infrastructure blockchain that was specifically designed for global sharing technology. Of course, it is far from being the only sharing economy enterprises. However, its goal is to create an underlying blockchain network that would solve the very issues in regards to data abuse and lack of trust that were mentioned earlier.
The project aims to offer its own APIs and SDKs to other sharing economy enterprises. By doing so, it will allow them to issue their own tokens, native to their own networks. Not only that, but they would also have the opportunity to create their own dApps on UChain's network.
This would significantly contribute to the creation of UChain's ecosystem, as well as its further growth. With a mature ecosystem, the project would be able to create a better global autonomous sharing economy, with no trust problems, and with total transparency. Of course, to start things off, the project will first need its own native cryptocurrency, which is where its UCN token comes in.
The date of UChain's ICO has yet to be announced, which is not particularly surprising since there is a general lack of information regarding this project. Still, some details are already known, such as the fact that UChain's token, UCN, will be a utility token.
It was designed on Ethereum's platform, which makes it an ERC-20 token. With that in mind, it is also not surprising that the project has decided to only accept ETH in exchange for UCN. It is also known that the price of 1 UCN will be 0.0002 ETH. However, neither the minimum investment amount nor the soft cap are known. Hard cap has been announced, and it will be at 42,000 ETH. Finally, it is also known that the project was registered in Canada.
Hopefully, additional information will be released in due time.
|Start||July 1, 2019|
|End||September 30, 2019|
I tend to judge the seriousness of any given project by the presence, or the absence, of far-reaching goals. Therefore, whenever I decide to invest in a crypto project, the roadmap is my first go-to place. I never trust a startup that doesn't present a detailed plan for at least the year ahead, with three years being ideal. Regarding UChain, they have only revealed their plans for the current year. Perhaps they do have a decent tech solution on paper, but lack proper planning for its realization. That's not good enough for me.
The professional profile of a project founder is probably the most important factor, which I take into consideration when analyzing new blockchain startups. That is why the first thing I did when my personal crypto advisor told me about UChain - was that I went to the LinkedIn profile of its founder Ian Yu. To tell you the truth, I was unimpressed. I am a firm believer that successful startups have CEOs who are totally immersed in a particular area of business. This guy, however, seems to be the jack of all trades: software development, filmmaking business, bicycles, and now sharing economy. Sorry, but I am not sure whether he wouldn’t abandon UChain sooner or later in pursuit of some new aspiration.
The first thing I do when doing research on a project that organizes an ICO is checking out their social media profiles. I reckon it to be one of the best indicators of the real interest of the crowd towards the idea that the team is trying to sell. So, I did the same with UChain and found out that their activity in this area is mediocre to say the least. They do have a decent Twitter following, but that’s about it. Given that the offered concept of sharing economy is rather trivial, I would give this project 2 out of 5, and move on to another one.
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