E-commerce has become a vital part of every individual’s daily life and lifestyle. It offers convenience, comfort, affordability and a variety of products without having to visit stores. Companies such as Alibaba, Amazon, Ebay and many more have gained instantaneous recognition and account for over 50% of the total market share.
But, every good thing comes at a cost, therefore, problems related to e-commerce have begun to emerge. The current e-commerce model suffers from problems related to supply-chain management, payments, data security, inefficient management systems, lack of transparent marketplaces, unsatisfied retailers and consumers. Blockchain technology stands as the only solution that can sweep away these problems if applied smartly.
Coming to the rescue of the current e-commerce industry, Ube Ltd has developed a user-friendly platform based on robust blockchain technology. The platform aims to completely disrupt the global traditional barter market with Ubecoin and Free Trade Barter. Ube Ltd realizes the need for a borderless economy and attempts to resolve issues in the current barter system such as limited access and knowledge, currency fluctuations in cross border payments, intermediaries and diminished profit margins.
Ubecoin, used as a medium of exchange on the platform, facilitates confirming and conducting transactions in a secure, decentralized and private way within the network. The ERC20 standard token is a hybrid cryptocurrency that can be used for B2B, B2C, and C2B transactions. Providing access to a decentralized trading platform, Ubecoin will help consumers and businesses overcome the problems of currency fluctuations and cash fees incurred during cross-border transactions.
Additionally, trading on the platform will benefit consumers and merchants from a zero cash transaction fee, instantaneous transactions, complete control of their account balance, increased security and accountability
Blockchain is at the forefront of the digital revolution and possesses capabilities of disrupting every industry. With a smart use of the disruptive technology, Ube Ltd is attempting to transform the traditional barter business models by tapping on the existing flaws and providing solutions that benefit the industry as a whole. Their mission is to empower merchants and consumers by transforming the current barter model into a community based, decentralized model.