News


  • Live for UChain Chinese Community AMA
  • 2018.12.05
  • 1.What is UChain? What is the background of team?
    Raised by multiple community members
    UChain is the first public infrastructure blockchain designed specifically for the global sharing economy network. Like other sharing economies, UChain aims to build its underlying blockchain network to address current trust and data misuse issues. Through the API and SDK provided by UChain, all sharing economies can publish their own tokens and build applications on the UChain network, making UChain a better global autonomous sharing economic ecosystem.
    Core team
    Ian Yu: Founder and CEO, founder and CEO of U-bicycle; founding team member of Dianping.com; former general manager of Maoyan Film; early investors on Bitcoin and mining facility.
    Will Zhou: CTO, U-Bicycle CTO; HiCTO Technology Partner; Technical Director of Dianping.com; Senior Engineer of eBay; Senior Engineer of Telenav.
    Grace Min: co-founder, U-Bicycle North America CEO; Dozenfresh International Trading CEO; founder of Oval Town Properties; founder of SG International Travel LTD.
    Benny Liao: CPO, General Manager of U-Bicycle (Smart Device Division); Online Business Manager of Meizu Company; Chief Product Manager of Autonav; General Manager of YiTong Map.
    Jason Wu: Senior Architect, Co-founder of HiCircle; Co-founder and Technical Expert of HiCTO;   Network System Architecture of Dianping.com; Senior Development Engineer of IBM CHINA.
    Mandy Chan: Chief Marketing Officer, CMO of U-Bicycle North American; Brand Manager of Glaxo Smith Kline, Marketing Manager of Microsoft Global.
    Raviv Litman: Director of Operations, Operations Director of  U-Bicycle NA; Director of Dozenfresh International Trading Operations.
    consultation team
    Jimmy Hu: Founder and CEO of APEX Network
    Jonathan Ha: CEO of Red Pulse
    Ding'an Fei: Managing Partner, Ledger Capital
    Henry Wu: Venture Partner, Ledger Capital
    Richard Wang: Partner of Draper Dragon
    Kenneth Hsia: Partner, Badwater Capital
    JC Xu: Partner, Badwater Capital
    Aaron Choi: Vice President, BTCC
    Ray Valdes: Chief Technology Officer, ConsenSys
    Frank Zheng: Secretary General of WBO
    Kong Huawei: Chief Scientist of ZJ Venture
    About the progress of the project
    2、What is the development plan of the project?
    Raised by Mumaren from Community 

    3、What is the total amount and distribution plan for TOKEN?
    Mumaren from community
    The total allocation of 820 million is as follows:
    35% - Token Sale
    40% - ecosystem
    15% - Team (3 year lockout period, unlock once a year)
    10% - Reservation for company
    About technology
    4、The data format and content of the needs of enterprises in different industries varies, so what is the solution that UChain uses to connect the data in different fields with the corresponding enterprises?
    Alfred from Community  
    UChain is a blockchain in the global sharing economy. We aim to become the infrastructure of the sharing economy. Therefore, we must cooperate with the sharing economy. The open platform of UChain will realize the interconnection of data through the basic API and tool API. We will Identify your API design standards on an open platform so that most mainstream developers can quickly and easily access our services.
    The data format and content of each enterprise requirement mentioned are very different. We will provide basic data services, but this part of the data is realized by sandboxed encryption mode. Users and developers cannot get the full picture of the data, which actually is  verified by parameters, also require user authorization retrieved by the service provider. So des another part of the data (such as for marketing related data), although this part of the data application has greater scalability, but must be with user authorization and super encryption. This part of the data must be retrieved by a service provider with a certain credit rating, and each call requires a digital signature from the service provider. No doubt such use will be completely traceable.
    5、Can UChain sharing economy system access all types of sharing economy models?
    Alfred from Community
    In theory, UChain sharing economic intelligence network can access all types of sharing economic models, because the sharing economy is characterized by a peer-to-peer service model, which is consistent with the peer-to-peer blockchain model designed by UChain. The core of the sharing economy is the completion of transaction. While the blockchain distributed ledger is a decentralized ledger generated for transaction. There are some sharing economic systems that have different opinions on accessing the UChain blockchain. For example, the online knowledge sharing community does not consider it necessary to access the blockchain technology. In fact, this is a misunderstanding. Knowledge sharing requires encryption technology and peer-to-peer communication technology to provide intellectual property protection. Token economic incentive model is also needed to encourage community members to produce and share valuable knowledge. We have also seen some good cases. Knowledge sharing will be the focus of UChain's sharing economic blockchain.
    Therefore, we believe that UChain is suitable for all sharing economic models.
    6、Most of UChain's development roadmaps are related to the relevant nodes of the enterprise platform. There are not many plans for common user data collection and community building. So, what specific solutions does UChian have for these segment?
    Alfred from Community 
    UChain is a basic chain. In the ecology, not only will the official DAPP be launched, but also the community will be established for consumer users. In addition, it will reach a consensus with more sharing enterprises, IoT companies and related industries to build a community. Form a good sharing economic ecosystem. While the ordinary users continue to be involved, the concept of distributed and autonomous is guided to the whole ecology, and enterprises and users of all ecological nodes are empowered to form a benign closed loop.
    7、UChain is the basic chain. Applications on UChain can share some data of users. How does it protect the security of our users' personal data?
    Memory66 from Community 
    The UChain public open platform supports Dapp developers to develop their own ecological applications, while UChain will open relevant interfaces for developers to retrieve, which will involve some user data related calls.
    1. UChain believes that the right of user data belongs to the user only, and all retrieve require user authorization to complete.
    Second, after the user is authorized, the data is not retrieved in a completely exposed manner, but is completed by UChain's smart contract encryption sandbox. In other words, UChain itself is difficult to query the user's data, because all of this is completed by parameter setting and encryption.
    Third, only the service provider that reaches a certain credit level can retrieve the data, and each one must be digitally signed to make the data usage and destination completely traceable.

    About the market
    8、Most of the domestic sharing economy is a pseudo-proposition. The resources provided are not idle resources. They are all customized by the platform and the manufacturer. How do you prepare for this?
    Jingxin from Community
    UChain believes that the sharing economy is mainly divided into two types: entity sharing and service sharing.
    First, entity sharing generally cuts in from idle resources. When everyone finds that idle resources have a high profit margin, there comes a customized resource. The entry of customized resources does have an impact on idle resources, but the characteristics of physical resources are unique spatial, temporal and personalized features (such as homestays, travel, etc.). Excessive investment in customized resources will inevitably result in saturation of the shared market and profit margins. In this state, idle resources will once again gain competitive advantage (due to low entry costs), and the economy will enter a new balance, which is the reason that sharing is becoming one new economic model.
    Second, service sharing is an economic model with lower marginal cost and more optimized social resource allocation. Service sharing can be divided into online services and offline services. The online line includes information such as information, content, knowledge, computing (such as access, VIPKID, cloud computing). Offline service sharing is a kind of peer-to-peer service. The emergence of UChain will cut off the existing centralized platform (such as Dada Express, etc.), it will be fully serviced and assigned by smart contract without any intermediate service fees.  Service sharing does not have the problem of customized resources to be spoiled. The greater the investment in service resources, the stronger the social and economic vitality. In the future, UChain will bring service sharing into the era of sharing economy 2.0 in advance through community governance.
    9、What are the defects in the sharing economy?
    Laoma from Community 
    At present, while the sharing economy is convenient to people, it also has many obvious defects, which can be summarized into the following three points:
    1. The transaction cost of the traditional centralized sharing platform is too high. The traditional sharing platform is a centralized approach to the transaction between the supplier and the demander, and the high commission is used as the platform service fee. The data shows that uber's pumping of drivers is as high as 20%-40%, and airbnb's draw to the landlord is also more than 20%. The platform has established a large operation team to meet the needs of hundreds of millions of users, which leads to the centralized mode. The sharing will generate huge operating costs, and this part of the cost will eventually be passed on to the users.
    2. Increasingly serious credit problems. Credit is the “pass-through” of the sharing economy. The supply and demand sides of the market need to establish mutual trust relationship in order to share and conclude transactions. The traditional Internet has never been able to solve the problem of trust between people through technical means. The platform can only control the risk of dishonesty by collecting deposits and collateral. The lack of an effective credit mechanism in the platform has invisibly transferred the risk control costs of the sharing economic platform to users and consumers.
    3. User data leakage poses a security risk. As users use sharing services, data is continuously collected and most companies store user data in a centralized database. If the server is compromised or improper internal management issues happened, a large amount of user data will be at risk of being stolen and leaking at any time. Uber leaked more than 57 million user personal information in 2016; Equifax, the largest credit rating company in the US, leaked 140 million user data in 2017, which is equivalent to nearly half of US population information. Data leakage and abuse have become a serious social phenomenon. After obtaining user information, some companies did not strictly abide by the user agreement, but used the data for other purposes. It is indicated that the information was sold to  black market, not long ago. the Facebook data leakage illustrates this.
    10、Considering overseas markets? What is the proportion of domestic and foreign market customers?
    Fearless from Community 
    The overseas market has always been an important segment for the development and future application of UChain. We will explore, develop blockchain technology in China, also will gradually carry out ecological strategic cooperation and application with more global high-quality enterprises. UChain believes that in the future ecosystem based on the sharing economic blockchain, the rapid integration of many partners from the global sharing enterprises and communities will become the core and key of UChain.
    To be continued...

  • Live for UChain Chinese Community AMA
  • 2018.12.05
  • 1.What is UChain? What is the background of team?
    Raised by multiple community members
    UChain is the first public infrastructure blockchain designed specifically for the global sharing economy network. Like other sharing economies, UChain aims to build its underlying blockchain network to address current trust and data misuse issues. Through the API and SDK provided by UChain, all sharing economies can publish their own tokens and build applications on the UChain network, making UChain a better global autonomous sharing economic ecosystem.
    Core team
    Ian Yu: Founder and CEO, founder and CEO of U-bicycle; founding team member of Dianping.com; former general manager of Maoyan Film; early investors on Bitcoin and mining facility.
    Will Zhou: CTO, U-Bicycle CTO; HiCTO Technology Partner; Technical Director of Dianping.com; Senior Engineer of eBay; Senior Engineer of Telenav.
    Grace Min: co-founder, U-Bicycle North America CEO; Dozenfresh International Trading CEO; founder of Oval Town Properties; founder of SG International Travel LTD.
    Benny Liao: CPO, General Manager of U-Bicycle (Smart Device Division); Online Business Manager of Meizu Company; Chief Product Manager of Autonav; General Manager of YiTong Map.
    Jason Wu: Senior Architect, Co-founder of HiCircle; Co-founder and Technical Expert of HiCTO;   Network System Architecture of Dianping.com; Senior Development Engineer of IBM CHINA.
    Mandy Chan: Chief Marketing Officer, CMO of U-Bicycle North American; Brand Manager of Glaxo Smith Kline, Marketing Manager of Microsoft Global.
    Raviv Litman: Director of Operations, Operations Director of  U-Bicycle NA; Director of Dozenfresh International Trading Operations.
    consultation team
    Jimmy Hu: Founder and CEO of APEX Network
    Jonathan Ha: CEO of Red Pulse
    Ding'an Fei: Managing Partner, Ledger Capital
    Henry Wu: Venture Partner, Ledger Capital
    Richard Wang: Partner of Draper Dragon
    Kenneth Hsia: Partner, Badwater Capital
    JC Xu: Partner, Badwater Capital
    Aaron Choi: Vice President, BTCC
    Ray Valdes: Chief Technology Officer, ConsenSys
    Frank Zheng: Secretary General of WBO
    Kong Huawei: Chief Scientist of ZJ Venture
    About the progress of the project
    2、What is the development plan of the project?
    Raised by Mumaren from Community 

    3、What is the total amount and distribution plan for TOKEN?
    Mumaren from community
    The total allocation of 820 million is as follows:
    35% - Token Sale
    40% - ecosystem
    15% - Team (3 year lockout period, unlock once a year)
    10% - Reservation for company
    About technology
    4、The data format and content of the needs of enterprises in different industries varies, so what is the solution that UChain uses to connect the data in different fields with the corresponding enterprises?
    Alfred from Community  
    UChain is a blockchain in the global sharing economy. We aim to become the infrastructure of the sharing economy. Therefore, we must cooperate with the sharing economy. The open platform of UChain will realize the interconnection of data through the basic API and tool API. We will Identify your API design standards on an open platform so that most mainstream developers can quickly and easily access our services.
    The data format and content of each enterprise requirement mentioned are very different. We will provide basic data services, but this part of the data is realized by sandboxed encryption mode. Users and developers cannot get the full picture of the data, which actually is  verified by parameters, also require user authorization retrieved by the service provider. So des another part of the data (such as for marketing related data), although this part of the data application has greater scalability, but must be with user authorization and super encryption. This part of the data must be retrieved by a service provider with a certain credit rating, and each call requires a digital signature from the service provider. No doubt such use will be completely traceable.
    5、Can UChain sharing economy system access all types of sharing economy models?
    Alfred from Community
    In theory, UChain sharing economic intelligence network can access all types of sharing economic models, because the sharing economy is characterized by a peer-to-peer service model, which is consistent with the peer-to-peer blockchain model designed by UChain. The core of the sharing economy is the completion of transaction. While the blockchain distributed ledger is a decentralized ledger generated for transaction. There are some sharing economic systems that have different opinions on accessing the UChain blockchain. For example, the online knowledge sharing community does not consider it necessary to access the blockchain technology. In fact, this is a misunderstanding. Knowledge sharing requires encryption technology and peer-to-peer communication technology to provide intellectual property protection. Token economic incentive model is also needed to encourage community members to produce and share valuable knowledge. We have also seen some good cases. Knowledge sharing will be the focus of UChain's sharing economic blockchain.
    Therefore, we believe that UChain is suitable for all sharing economic models.
    6、Most of UChain's development roadmaps are related to the relevant nodes of the enterprise platform. There are not many plans for common user data collection and community building. So, what specific solutions does UChian have for these segment?
    Alfred from Community 
    UChain is a basic chain. In the ecology, not only will the official DAPP be launched, but also the community will be established for consumer users. In addition, it will reach a consensus with more sharing enterprises, IoT companies and related industries to build a community. Form a good sharing economic ecosystem. While the ordinary users continue to be involved, the concept of distributed and autonomous is guided to the whole ecology, and enterprises and users of all ecological nodes are empowered to form a benign closed loop.
    7、UChain is the basic chain. Applications on UChain can share some data of users. How does it protect the security of our users' personal data?
    Memory66 from Community 
    The UChain public open platform supports Dapp developers to develop their own ecological applications, while UChain will open relevant interfaces for developers to retrieve, which will involve some user data related calls.
    1. UChain believes that the right of user data belongs to the user only, and all retrieve require user authorization to complete.
    Second, after the user is authorized, the data is not retrieved in a completely exposed manner, but is completed by UChain's smart contract encryption sandbox. In other words, UChain itself is difficult to query the user's data, because all of this is completed by parameter setting and encryption.
    Third, only the service provider that reaches a certain credit level can retrieve the data, and each one must be digitally signed to make the data usage and destination completely traceable.

    About the market
    8、Most of the domestic sharing economy is a pseudo-proposition. The resources provided are not idle resources. They are all customized by the platform and the manufacturer. How do you prepare for this?
    Jingxin from Community
    UChain believes that the sharing economy is mainly divided into two types: entity sharing and service sharing.
    First, entity sharing generally cuts in from idle resources. When everyone finds that idle resources have a high profit margin, there comes a customized resource. The entry of customized resources does have an impact on idle resources, but the characteristics of physical resources are unique spatial, temporal and personalized features (such as homestays, travel, etc.). Excessive investment in customized resources will inevitably result in saturation of the shared market and profit margins. In this state, idle resources will once again gain competitive advantage (due to low entry costs), and the economy will enter a new balance, which is the reason that sharing is becoming one new economic model.
    Second, service sharing is an economic model with lower marginal cost and more optimized social resource allocation. Service sharing can be divided into online services and offline services. The online line includes information such as information, content, knowledge, computing (such as access, VIPKID, cloud computing). Offline service sharing is a kind of peer-to-peer service. The emergence of UChain will cut off the existing centralized platform (such as Dada Express, etc.), it will be fully serviced and assigned by smart contract without any intermediate service fees.  Service sharing does not have the problem of customized resources to be spoiled. The greater the investment in service resources, the stronger the social and economic vitality. In the future, UChain will bring service sharing into the era of sharing economy 2.0 in advance through community governance.
    9、What are the defects in the sharing economy?
    Laoma from Community 
    At present, while the sharing economy is convenient to people, it also has many obvious defects, which can be summarized into the following three points:
    1. The transaction cost of the traditional centralized sharing platform is too high. The traditional sharing platform is a centralized approach to the transaction between the supplier and the demander, and the high commission is used as the platform service fee. The data shows that uber's pumping of drivers is as high as 20%-40%, and airbnb's draw to the landlord is also more than 20%. The platform has established a large operation team to meet the needs of hundreds of millions of users, which leads to the centralized mode. The sharing will generate huge operating costs, and this part of the cost will eventually be passed on to the users.
    2. Increasingly serious credit problems. Credit is the “pass-through” of the sharing economy. The supply and demand sides of the market need to establish mutual trust relationship in order to share and conclude transactions. The traditional Internet has never been able to solve the problem of trust between people through technical means. The platform can only control the risk of dishonesty by collecting deposits and collateral. The lack of an effective credit mechanism in the platform has invisibly transferred the risk control costs of the sharing economic platform to users and consumers.
    3. User data leakage poses a security risk. As users use sharing services, data is continuously collected and most companies store user data in a centralized database. If the server is compromised or improper internal management issues happened, a large amount of user data will be at risk of being stolen and leaking at any time. Uber leaked more than 57 million user personal information in 2016; Equifax, the largest credit rating company in the US, leaked 140 million user data in 2017, which is equivalent to nearly half of US population information. Data leakage and abuse have become a serious social phenomenon. After obtaining user information, some companies did not strictly abide by the user agreement, but used the data for other purposes. It is indicated that the information was sold to  black market, not long ago. the Facebook data leakage illustrates this.
    10、Considering overseas markets? What is the proportion of domestic and foreign market customers?
    Fearless from Community 
    The overseas market has always been an important segment for the development and future application of UChain. We will explore, develop blockchain technology in China, also will gradually carry out ecological strategic cooperation and application with more global high-quality enterprises. UChain believes that in the future ecosystem based on the sharing economic blockchain, the rapid integration of many partners from the global sharing enterprises and communities will become the core and key of UChain.
    To be continued...