Ubcoin  — Review of ICO

Ubcoin is a global market for products that will be sold through a mobile application using payment for the cryptocurrency.

Ubcoin is not a newly created project, but a start-up from a long-established company (since 2009), with a large staff of employees and offices in many countries of Europe and Asia. Moreover, their application is used by 16 million users and it is installed by such giants of the mobile industry as Samsung and Fly as a basic application. ICO is conducted in order to receive funds for the development of their applications in connection with the crypto industry and the settlement of all passing events.

About the Platform:

As everyone knows, the capitalization of the crypto world already reached 700 billion, at the moment it is about 400 billion dollars and again is growing confidently and it is projected that by 2020 about 200 million people will participate in the crypto world. But the entrance to the crypto world is not yet understandable to everyone and not everyone can cope with all the moments that crypto world requires them to enter. The Ubcoin application will simplify the entry into the crypto world. You can join it not only by putting crypto in the application, but also selling things on the platform for the price displayed in crypto-active assets.

Thanks to the cryptocurrency, smart contracts and the blockchain mechanism, the application minimizes commission for purchases and makes them as secure and anonymous as possible. The platform will use the technology “know your customer”, access to which will be only with the platform administration and information about you will be reliably protected. Also for a quick and high-quality work platform in it implements Artificial Intelligence. Also, the convincing argument of entering the crypto world and buying through the phone is that already about 37% of people use Internet purchases and purchases through mobile applications directly.

Tokens Platforms and their Sale:

In total, 1.5 billion UBC tokens are issued. Platform tokens will be used when shopping on the platform, as well as for using advanced functionality. The sale of tokens will occur in several stages. Now there is a 2 stage of the main sales, which ends on May 11 and for 1 ether you can buy 10,000 tokens, from 12 to 31 May – for 1 ether 9600 tokens, from 1 to 20 June – for 1 ether 9200 tokens, from June 21 to July 10 – for 1 ether 8640 tokens. And the last stage from 11 to 14 July – for 1 ether 8000 coins. So, the price of tokens will change with the stages of their sale.

Distribution:

On account of the distribution of tokens, we can say the following: 5% was allocated for private pre-sales. 45% is allocated for sale during the ICO. 12% is allocated to the team. 4% on the bounty and advisers. 3% as a reward to the community and 31% allocated to the platform reserve.

On account of the distribution of collected funds: 35% will go to develop a platform and implement all innovations for it, 40% for platform marketing, 17% for the implementation of a mobile application for various markets and 8% for legal costs, the “know your customer” procedure and other expenses.

Roadmap:

At the expense of the project development plan, we can say the following: in March-July there is a sale of platform tokens. In June, the beta version of the platform will be released for use by users of the Ubank application. In August, they will form a full team of developers, create a beta version of the smart contract, recruit people into the support team of the existing project and the platform tokens will be listed on the main platforms. In September – beta testing applications in various markets with leading smartphone manufacturers. In the 4th quarter of 2018, the application will be launched in South-East Asia. A basic working version of the know-your-customer technology will also be developed.

In the 1st quarter of 2019, the application will be launched in Eastern Europe. A beta version of the API will also be developed. In the second quarter, the application will work in Korea (not northern). Also, there is support for sharing platform tokens with bitcoin and ether directly on the platform. In the next quarters and 2020, the platform will be launched in other regions. Until 2022, it is planned to conclude cooperation with the majority of large sales companies and continue to develop their technologies.

In conclusion, I want to say that the platform is a pretty cool project, which should attract many newcomers to the crypto world, and many Ubank users, which guarantees the organic growth of the platform. Thanks to the minimum commission for purchases in the cryptocurrency, many are really interested in selling/buying their goods through the platform. So, we draw the appropriate conclusions. For a more detailed introduction to the platform, I suggest downloading Whitepaper. Good luck!

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