Blockchain is a type of distributed ledger for maintaining a permanent and tamper-proof record of transactional data. A blockchain functions as a decentralized database that is managed by computers belonging to a peer-to-peer (P2P) network. Each of the computers in the distributed network maintains a copy of the ledger to prevent a single point of failure (SPOF) and all copies are updated and validated simultaneously.A crypto currency is a digital currency in which encryption techniques are used to regulate the generation of units of currency and verify the transfer of funds, operating independently of a central bank.
Using UBECOIN as a medium of exchange globally merchants will dramatically reduce the currency fluctuations and the cash fees incurred by generic cross border transactions. UBE Ltd will offer consumers and small to medium businesses the access and advantage of a decentralised trading platform.
The UBE Ltd solution is to utilize blockchain technology, to provide near-instantaneous global transactions for merchants and consumers. This occurs without cash transaction fees, delays or interaction with Financial Institutions creating a very significant cost benefit to the merchant.The merchants will additionally benefit from significantly reduced infrastructure costs of the UBE Ltd trading platform, which will leave the competitors high cost base incapable of competing against the UBE Ltd business model. UBE Ltd initially aims to disrupt the market by exploiting the inherent flaws of the traditional barter business models
Value Proposition for SMEs
Small to medium businesses are always looking for new ways to increase sales, manage redundant inventory, fill idle capacity, increase their customer base and gain broad exposure for their products and services in a cost-effective way to improve profitability.Depending on the jurisdiction FTB could have a positive impact on businesses’ balance sheet and cash flow
Incumbent Barter Exchange Model
At least 600,000 merchants participate in the barter economy on a global scale. Fees range between 10-13% (buy/sell) on average per transaction. When combined with joining fees, advertising fees, non-trade fees and lock-in contracts, any advantage gained through barter is quickly diminished.*3
Incumbent Barter Exchange Model
At least 600,000 merchants participate in the barter economy on a global scale. Fees range between 10-13% (buy/sell) on average per transaction. When combined with joining fees, advertising fees, non-trade fees and lock-in contracts, any advantage gained through barter is quickly diminished.*3
The global barter exchange businesses use proprietary trade dollars (T$) as a medium of exchange. A Trade dollar is used between trade exchange members in place of cash in a non- reciprocal trade transaction. The US IRS values a trade dollar the same as a U.S. Dollar. A trade dollar can only be used by merchants within the platform that produced it. A trade dollar is a closed source payment offering.
As illustrated by the working example below, some Barter affiliates offer an interest-free line of credit of T$5,000 for joining up. The merchant then spends the T$5,000 and now owes the platform owner. The merchant then has to offer goods and services to repay the line of credit plus pay the $600 in transaction fees in cash to the platform owner
How the Subscription Model Works
The merchant registers their business with FTB, via an on-line application.
• The business will need a current certificate of registration issued from the relevant lo-cal authority in their jurisdiction, a confirmed trading address; the business owner or company owner’s details; email address and contact telephone number.
As illustrated by the working example below, some Barter affiliates offer an interest-free line of credit of T$5,000 for joining up. The merchant then spends the T$5,000 and now owes the platform owner. The merchant then has to offer goods and services to repay the line of credit plus pay the $600 in transaction fees in cash to the platform owner
How the Subscription Model Works
The merchant registers their business with FTB, via an on-line application.
• The business will need a current certificate of registration issued from the relevant lo-cal authority in their jurisdiction, a confirmed trading address; the business owner or company owner’s details; email address and contact telephone number.
• FTB will verify the business details to ensure that only legitimately registered business-es join the platform.
• The only trade restrictions applicable are those set by the relevant authorities as to the legalities of trading certain types of goods and services.
• FTB will facilitate the issue to the business of a (third party) digital wallet.
• FTB will issue an invoice for the first year’s subscription fee of GBP 150+ applicable lo-cal tax or theequivalent in the local territory and at the same time cause Ube Ltd to issue 300 UBECOIN by transferring the UBECOIN to the merchant’s digital wallet. The 300 UBECOIN are free and are not repayable (i.e. it is not a line of credit).
• The business will be registered on FTB’s online business directory as part of a global resource of merchants that accept UBECOIN as payment.
• FTB has the ability to target market sectors and to use social media to increase salesand brand awareness for members.
• There are no ongoing cash transaction fees payable to UBE Limited or FTB.
• Businesses can accept 100% UBECOIN payment or a combination of UBECOIN andcash. The percentage accepted is at the merchants discretion. FTB is an advertising business directory and does not act as an intermediary for business activity as this is conducted directly between merchant and consumer.
UBE Platinum
This will be an exclusive membership where high value items will be bought and sold. This will be attractive for high end investors/businesses/networks where UBECOIN can be used as a medium of exchange.
UBE Deal of the Day
This is where merchants can request to have a heavily promoted deal of the day. An email and social media campaign will promote the “deal of the day”To generate even more liquidity Ad Drivers (50k Consumers) will be offering promotions to generate Consumer to Business transactions and there will also be referral marketing campaigns.A UBECOIN is freely owned by the coin holder. It is stored digitally in an electronic wallet via a desktop computer or a mobile device. It can be used as the owner wishes.
Phase 1
Market Disrupter Model
Subject to funding UBE Ltd is aiming to on-board over 30,000 merchants in the first year of operation and double that in the second year. This will be achieved by an extensive marketing campaign in multiple jurisdictions, promoting the first 5,000 merchants in each jurisdiction can join for free, plus they receive 300 UBECOIN bonus.In addition to this there are no transaction fees, which is highly desirable and beneficial for the SME community who are currently paying 10-13% cash per transaction. By the end of the fifth year UBE Ltd will have the equivalent of 68% of the merchants that are currently registered with the IRTA.
Phase 2. Online Entertainment
Players at traditional fiat gaming websites need to wait for their bank wire (if they are not using a credit card) to get to the sites in-game wallet before being able to play. Regardless of their deposit method, the player could wait several days to receive their withdrawal if they decide to stop playing and cash-out.On-boarding the gaming and entertainment sector into the UBECOIN ecosystem instantly creates an uplift in consumer to business transactions via FTB by providing multiple avenues for gamers to spend their wallet. This will also create further opportunity for the Merchant network to gain access to a wider range of consumers that would not currently be available to them.
Phase 3. Fintech and Telco
UBE Ltd is screening various Fintech companies with the view of agreeing a collaborative relationship to develop and integrate UBECOINinto their business products.UBE Ltd is also targeting the telecommunications industry to develop mobile media wallets to enable targeted consumer advertising. As with Online Entertainment it should be noted that at this stage UBE Ltd does not intend to enter the highly regulated Fintech and Telco industries but will only act as an arm’s length third party supplier of UBECOIN to its Fintech and Telco industry partners.
Technical Implementation
The UBECOIN cryptocurrency is built on the Ethereum network and source code. Ethereum is a decentralized distributed public blockchain network that runs smart contracts; applications that run exactly as programmed, without any possibility of downtime, censorship, fraud or third- party interference.UBECOIN has the advantage of leveraging Ethereum’s highly established blockchain network. This will dramatically reduce the amount of custom coding required to facilitate the generation and branding of the Ubecoin cryptocurrency.
Ubecoin is ERC20 compliant which brings uniformity, reduced complexity, and enhanced liquidity of tokens.
Website Security
The Ube Ltd and Free Trade Barter websites utilise EV SSL certification “green bar” security. “EV” stands for Extended Validation. Extended Validation SSL Certificates are a new type of SSL Certificate which is intended to give users more confidence with whom they are transacting (the legal entity who has applied for the SSL certificate), and that Ube Ltd and Free Trade Barter control and own the websites.Security conscious online shoppers prefer to transact on websites protected with an EV certificate, according to a 2015 Consumer Trust Survey published by the CA Security Council.
Coin Security
Ube Ltd has pre-mined almost 100% (all but the 80 Million ICO tokens which are created by investors entering into, smart contracts during the ICO) of the total coin allocation for the furtherance of its business activities both now and in the future.As part of our advanced security protocols, only a relatively small amount of coins will be held in multiple “hot” wallets at any one time to disseminate amongst our networks or provide liquidity within the marketplace.A combination of cold storage techniques will be applied along with real world physical security measures to insure the safe keeping and protection of the digital asset.Coin Distribution Model. It is anticipated that the coin distribution will be similar to the following.
Revenue Model
UBE Ltd will raise funds to execute its strategies and implement its initial Vision towards creating a global bartering blockchain platform which will provide merchants with a low cost transparent interactive subscription based economy, and further UBE Ltd’s multi-jurisdictional global objectives.Ube Ltd will commence a number of IEO’s starting with one on each of LATOKEN and OEX global crypto exchanges as set out below.
Any UBECOIN Tokens could be impacted by regulatory action, including potential restrictions on the ownership, use, or possession of such tokens. Regulators or other circumstances may demand that the mechanics of the UBECOIN Tokens be altered, all or in part. UBE Ltd may revise mechanics to comply with regulatory requirements or other governmental or business obligations. Nevertheless, UBE Ltd believe they have taken all commercially reasonable steps to ensure that its planned mechanics are proper and in compliance with currently considered regulations.
UBE Ltd will raise funds to execute its strategies and implement its initial Vision towards creating a global bartering blockchain platform which will provide merchants with a low cost transparent interactive subscription based economy, and further UBE Ltd’s multi-jurisdictional global objectives.Ube Ltd will commence a number of IEO’s starting with one on each of LATOKEN and OEX global crypto exchanges as set out below.
Any UBECOIN Tokens could be impacted by regulatory action, including potential restrictions on the ownership, use, or possession of such tokens. Regulators or other circumstances may demand that the mechanics of the UBECOIN Tokens be altered, all or in part. UBE Ltd may revise mechanics to comply with regulatory requirements or other governmental or business obligations. Nevertheless, UBE Ltd believe they have taken all commercially reasonable steps to ensure that its planned mechanics are proper and in compliance with currently considered regulations.
For more Information :
Webiste : https://ubecoin.com/
Webiste : https://ubecoin.com/
Telegram : https://t.me/ubecoinofficial
Facebook : https://www.facebook.com/ubecoin.official/
Authors : Tellysa
Bitcointalk's profile : https://bitcointalk.org/index.php?action=profile;u=1898514
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