The market size of the global sharing economy is expected to reach 520 billion US dollars in 2018, according to Roland Berger’s report [1] on the sharing economy. Along with the rapid growth, there are more problems exposed in this disruptive business such as:
Excessive transaction costs
Centralized platforms charge high commission fees for service matchmaking.
The problem of trust
There is no effective credit system reflecting both individual credit and organization credit.
Data leakage and abuse
Centralized data storage mechanism can easily lead to data leakage and misuse.
In our daily practice, we have come to realize and attribute these problems to the excessive centralization of the business. Combining U-bicycle’s experience in the practice of sharing transportations along with support from our strategic partners, we have been working on a solution, realizing the way to solve these issues will be through the implementation of a truly free peer-to-peer network with the combination of blockchain technology along with an underlying sense of the sharing economy.
UChain is a public infrastructure blockchain network specifically designed for the global sharing economy. Along with other sharing economy enterprises, we aspire to build a decentralized worldwide sharing economy ecosystem where every user can exchange value and publish contents freely without intermediaries Through UChain and its decentralized autonomous ecosystem, all users and merchants will be empowered.
uchain
