UHUB, a startup from Vietnam and the originator of HUB ecosystem recently announced their plans to launch an Initial Coin Offering to fund the development of the decentralized ecosystem consisting of HUB exchange, HUB marketplace, and HUB connector.
The platform will be based on Ethereum Blockchain, using Smart Contracts to bring a safer, cheaper and less time-consuming buying experience. Users will be able to exchange and store various digital currencies on HUB exchange, which is made as a cryptocurrency exchange as well as the gateway to the ecosystem. HUBcoin (HUB), the primary payment method on the network, will also be distributed through HUB exchange.
The HUB marketplace is designed as a decentralized market where anyone can buy or sell products directly. Naturally, UHUB has implemented safety features to allow the platform to remain genuinely decentralized:
- Escrow service – when the buyer orders the product, he places funds in the Smart Contract escrow. The seller sends the product, and when the buyer receives it, he then releases the money from the escrow to the buyer.
- Rating system – buyers and sellers will be able to rate each other after each trade they make, providing feedback and allowing other users to choose the best for future deals.
The platform will also save money for the customers, removing intermediaries such as PayPal from the buying process and reducing the transfer fees from 15% to approximately 1%.
The HUB connector will serve as a place where one can get the train, bus or plane ticket, tickets for concerts and other events, food coupons, etc. Also, it will be possible to make hotel and restaurant reservations around the world. The places and tickets will be sorted by country and city, allowing each user to find events or places that correspond to his location with ease.
“I am aware that UHUB is a big project. But we just want to pay our debt to the community. That’s why we have gathered a knowledgeable and motivated team to make it happen. We want to provide a safer, cheaper and less time-consuming ecosystem, allowing the users to find everything they need in one place. Our long-term goal is also to create more job openings for freelancers, as the UHUB community starts to grow. We intend to create a system where everyone benefits, and we hope to gather the funds to do it,” said UHUB CEO, Yeu Nguyen.
HUBcoin will be exchanged only for Ether (ETH) during the ICO. The minimum funding goal of the project is set to 18,000 ETH. The presale will take place from November 16th to November 25th, and token sale from November 25th to December 10th.
You can find out more about the project on UHUB website or by reading their whitepaper.
Learn more about the UHUB’s token sale at https://uhub.io/.
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