The online marketplace for everything, paid with crypto's
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.
A. REAL LIFE VALUE OF PROJECT (85/100)
UbcoinMarket aims to act as a marketplace that fills the gap between real life and cryptocurrencies:
- People who have cryptocurrencies can spend it on goods
- People who like to have cryptocurrencies can sell their goods
The product will act as a marketplace that brings sellers and buyers together in an easy way. Without cashing out any of your cryptos towards fiat. In a recent survey, the company find out that almost 84% of the people interviewed are interested in cryptocurrencies, but only 6% own cryptocurrencies. The UbcoinMarketplace can be the easiest way to start with cryptocurrencies simply selling your old stuff online. .
B. DISRUPTIVENESS OF PROJECT (85/100)
A marketplace is not disruptive at all. In fact, there are dozens of popular marketplaces that may integrate cryptocurrencies as well. Although, the way Ubcoin is planning to roll out their marketplace is unique. Ubcoin will be a part of the UBANK app that is pre-installed on 16 million Samsung (including 9-series) phones in mainly Russian speaking countries. The UBANK app has over 20 million transactions a year. Ubcoin will have a flying start with 16 million phones that can directly access the marketplace. Thereby, it is just a simple integration instead of an extremely complex blockchain project that need to prove itself. This give us faith that the project will roll-out successfully.
C. TEAM AND ADVISORY BOARD (85/100)
Founder Felix Khachatryan, also founded UBANK, he raised over 8 million dollars for UBANK. At this moment UBANK is pre-installed on 16 million Samsung telephones. Felix proved that he is capable of leading a company that did grow to 50 full-time employees in just 5 years. Other team members are seniors who worked at huge (telecommunication) companies. The advisory board is represented by people that worked (or work) at Harvard, Morgan Stanley, Huawei, HTC and Samsung. Because of this, Ubcoin has an extended network in the telecommunication market; the target market of the product. This is a very solid indicator that the project can succeed.
D. COMPETITORS (70/100)
eBay will be competition to UBCOIN, with the same concept of acting as a marketplace. The biggest difference is that eBay is a non-Russian company that focusses on B2C and C2C trades. Ubcoin primarily focuses on C2C trades that will be completed with cryptocurrencies instead of fiat money. They are going to act as the bridge between crypto and goods. That approach is totally different than the eBay approach. Thereby, Ubcoin will be pre-installed on 16 million phones, eBay is not.
E. THE STAGE OF THE PROJECT (80/100)
UbcoinMarket will be a part of the UBANK app. UbcoinMarket will be integrated into the UBANK mobile app that is already in use since 2013. The UBANK app is one of the biggest Apps in Russia that is pre-installed on 16 million devices. UBANK has already over 2.5 million users per month. The UbcoinMarket MVP will first launch in Eastern-Asia. Q1 of 2019 will the full version of the app be launched in Eastern Europe.
F. MARKET APPROACH (85/100)
The UbcoinMarket will be a part of the UBANK app. UBANK has partnerships with fly and is pre-installed on 16 million Samsung devices. Because of this, UBANK has very high automatically generated demand. It's like pre-install a brand-specific coffee machine in a house, people will always try it out. Thereby, UbcoinMarket is a very simple product that makes it easier to trade between consumers, there is no threshold to use the product. We expect that UbcoinMarket can have a huge user base and a flying start.
What gives us a lot of trust is the professionalism of the whitepaper: in-depth and thought out. The whitepaper is based on facts or surveys what makes the concept strong. It is not an abstract visionary idea, but an easy concept with real life use case that will roll-out soon. The project has a strong and big team (50+ full-time employees) that already proved they are capable to close deals. In fact, on paper, the project is better than many projects with 1B+ marketcap, that only wrote a solid whitepaper.
*ICO's always have higher risks than proven projects.
´´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 $400 billion. There is a great demand to spend that wealth by buyingreal 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.´´