Ubcoin Marketplace is a global mobile marketplace for buying and selling real world goods for cryptocurrency. The number of cryptocurrency holders is projected to increase nearly 10-fold, from the current 22 million to 200 million worldwide by 2020. The simplest way to become an owner of cryptocurrency is by selling goods for crypto. This approach will drive mass adoption in the coming years. Capitalization of the cryptocurrency market is around $300 billion. There is a great demand to spend that wealth by buying real world goods for crypto. Nearly half of all online buying and selling activity now occurs in marketplaces, while mobile commerce will soon surpass web commerce as global smartphone penetration reaches 37% of world’s population by 2020.
The Ubcoin Marketplace is not a greenfield project, but an extension of the Ubank mobile app:
• A matured company, existing since 2009
• Their current product, Ubank, has over 16 million installations worldwide
• They consist of 50+ developers, top management and advisor talent
• Ubcoin will enhance and reinvent existing product value proposition
• Samsung and Fly pre-install their current product on all smartphones, sold in 10 countries of Eastern Europe and Central Asia, including flagship Galaxy 9
The token sale seeks to raise financing to expedite development of Ethereum blockchain-based smart contracts, of AI-based screening and KYC technology, and to fund global expansion. Ubank app’s unique distribution model through pre-installation by manufacturers will be scaled to new geographies.
Product Description and Features
Ubcoin is a mobile app, which brings together sellers and buyers in one convenient marketplace, and facilitates payment in UBC cryptocurrency. The Ubcoin app provides convenient search tools, facilitates payments and regulates business relations between buyer and seller using a set of smart contracts on Ethereum blockchain. The platform will utilize the development of numerous tools for supplying rich information necessary for making decisions in regard to buying or selling products Specifically, extensive and content-rich product descriptions, seller and buyer ratings, reviews, terms of sale and execution of smart contracts. Ubcoin is not a new standalone app, it is a new set of features, a logical next step in development of Ubank, a leading mobile payments app in Eastern Europe.
At the initial stages of the project the main focus will be customer acquisition and rapid geographic expansion. While exact timing of entering markets will change, they seek
markets with a combination of substantial cryptocurrency contributor base or interest therein, warmer regulatory outlook on crypto transactions, underbanked population
and proliferation of peer-to-peer transactions. see significant potential in developing markets of Eastern Europe, Southeast Asia, South Asia, Middle East and Africa, Latin America. One of the most important goals of ;FA is to fund the global expansion. Depending on the success of the crowdfunding effort, they plan to spend between 25% and 40% for international marketing. Another main driver of the growth of business, starting in 2019, is attracting sellers from the SME sector who are more likely to actively use additional paid instruments for promoting the sales of their goods.
Source: youtube/Ubcoin Team