Ubcoint-potential of mobile market place
Ubcoin Marketplace is a global mobile marketplace for buying and selling real world goods for cryptocurrency.
The number of cryptocurrency holders is projected to increase early 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 $300 billion. There is a great demand to spend that wealth by buying real 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.
The Ubcoin Marketplace is not a greenfield project, but an xtension of the Ubank mobile app:
- A matured company, existing since 2009
- Our current product, Ubank, has over 16 million installations worldwide
- We consist of 50+ developers, top management and advisor talent
- Ubcoin will enhance and reinvent existing product value proposition
- Samsung and Fly pre-install our current product on all smartphones, sold in 10 countries of Eastern Europe and Central Asia, including flagship Galaxy 9
Vision
- Many people want a simple and safe way to obtain a stake in cryptocurrency, but do not know how. They are not miners, not speculators, just individuals who see added value in investing in cryptocurrency. The number of cryptocurrency owners is projected to increase from a current 22 million to over 200 million by 2020.
- Yet these same people are very comfortable with buying and selling on Ebay, Amazon, WeChat, Etsy, Taobao and the like. In 2016, marketplaces accounted for 44% of the world’s $2.44 trillion spent online in 2016.
- Cryptocurrency wallets are primarily concentrated on mobile devices, with over 65% of wallets being mobile. Global smartphone penetration is projected to reach 37% by 2020.
- Global population of digital buyers will surpass 2 billion people by 2020.
These four pivotal forces combine in the global mobile marketplace where people can:
- Easily become owners of cryptocurrency by selling goods
- Easily spend their cryptocurrency wealth by purchasing real world goods
The global Ubcoin Marketplace, powered by Ethereum blockchain and the exchangetraded
UBC cryptocurrency, enables these endeavors with peer-to-peer smart contracts
for buying and selling goods:
- Sellers are interested to receive cryptocurrency for their wares. Utility of settlement + Investment vehicle = mass adoption of digital currency;
- Buyers are realizing the cryptocurrency investment gains and purchasing power, yet are spared the pain and risks of switching between crypto and fiat currency;
- Smart contracts ensure that transactions are seamless, secure, enforceable, transparent and decentralized.
The smart contract technology allows the Ubcoin Marketplace, to ensure safety, executability, intractability and verifiability of a transaction, successfully facilitating peerto-peer transactions.
As regulation concerning acceptance of digital currencies in a B2C arena evolves, the marketplace will add business sellers and buyers to its roster. The smart contracts will obliviate many existing intermediaries, the leeches of value chains. The deliveryeconomy facilitates explosive growth in the form of direct manufacturer-to-consumer transactions, allowing for much more attractive pricing for both buyer and seller. Make-toorder manufacturing becomes a much more relevant business model.
Some transactions may, in the future, require additional KYC/AML procedures for execution of smart contracts for certain types of deals, involving third-party providers (i.e. delivery companies, couriers, notaries). The Ubcoin platform envisions seamless engagement of these parties.
We pay special attention to ensuring the legitimacy of goods and services sold on the Ubcoin marketplace. We are developing an advanced AI technology to help pre-screen seller postings for any potential infringements of reason, morality, safety and due care.
Marketing Strategy
At the initial stages of the project the main focus will be customer acquisition and rapid geographic expansion. While exact timing of entering markets will change, we seek markets with a combination of substantial cryptocurrency investor base or interest therein, warmer regulatory outlook on crypto transactions, underbanked population and proliferation of peer-to-peer transactions. We see significant potential in developing markets of Eastern Europe, Southeast Asia, South Asia, Middle East and Africa, Latin America.
One of the most important goals of ICO is to fund the global expansion. Depending on the success of the crowdfunding effort, we plan to spend between 25% and 40% for international marketing. Another main driver of the growth of business, starting in 2019, is attracting sellers from the SME sector who are more likely to actively use additional paid instruments for promoting the sales of their goods.
Marketing strategy projections
We see average check for different segments remain consistent with the current industry indicators. Average fees will be set far lower, starting from 1% at the launch of the project.
Calculated ARPU is lower due to marketplace being available only a fraction of the year. In the following years ARPU grows due to more volume coming from business customers and from gradual increase in seller fees and development of additional paid features to support freemium model
Distribution model and international expansion
Ubank’s unique distribution model, where the app is preloaded by smartphone manufacturers into all new smartphones, has garnered much success in the CIS markets. We plan to extend this strategy and strike agreements with leaders in corresponding international markets. Worldwide, we have excellent relations with manufacturers who cover at least 40-45% of global smartphone sales.
For each new country we enter, we plan to achieve “top of mind” position within two years through our pre-installation strategy and joint promotion with smartphone manufacturers.
To supplement our distribution strategy, we also plan to set up regional marketing teams to support local immersion activities, including forming and developing regional user communities, targeted advertising campaigns and coordinating marketing activities. Part of the marketing budget raised via token sale efforts will be spent on: deeper research of local markets, attracting top marketing talent in those markets, their operating costs and planned marketing campaigns.
Marketing activities for each geography will be comprised of the following:
- Brand management team;
- Traffic and ASO manager;
- SMM/community manager;
- Event manager;
- PR manager;
- User support team.
Marketing activities for each geography will be comprised of the following:
- SEO and ASO efforts to promote the Ubcoin Marketplace app to the top of web, AppStore and GooglePlay search results;
- Publications in local and regional press – at least 1,000 mentions for the first year;
- TV and outdoor advertising – at least 20,000 placements for the first year;
- SMM efforts – video and posts of influencers, local celebrities who endorse the project;
- Participation in regional networking opportunities such as conferences, seminars, panel discussions that are meaningful for the local target audience.
Initial aggressive media strategy is necessary for quick growth of Ubcoin’s brand recognition and user acquisition. Those efforts will be then followed by creation of active social network communities pertinent to local markets, where users will increase their product awareness, learn about cryptocurrencies and peculiarities of their local regulation, engage and interact with crypto enthusiasts, discover success stories of other users and so on. We view community-building as a cornerstone of long-term marketplace success due to cumulative network and viral effects, which are critical for success in our industry. It also will allow us to gradually reduce direct advertising expense and increase user retention rates, thus positively affecting the bottom line of the business. The speed of international expansion and level of marketing support will be hugely dependent on the success of the Token Sale event.
The geographical expansion plan also closely tracks with existing geographical distribution of holders of crypto wallets, as illustrated by the joint Cambridge University and Visa benchmarking study.
B2C and B2B expansion
The Internet Retailer Report 2017, authoritatively asserts that “for many smaller merchants, global marketplaces are a great place to reach consumers outside of their home markets since the online retailers have the resources to handle the obstacles to selling internationally, including language barriers, customs requirements and logistics and shipping. Furthermore, finding lower prices from international retailers on marketplaces is the top reason respondents say they shopped cross-border”. (Internet Retailer 2017, p.)
Starting in 2019, we plan to engage traditional marketing instruments to penetrate the b2c and b2b segments: lead generation, content-marketing, offline events including client conferences.
B2C and B2B segments will begin growing once a lively P2P marketplace has established itself and formed a loyal audience that is interesting to business clients.
Market Opportunity Analysis
Digital shopping is increasing in prevalence in the world. The number of digital buyers worldwide is projected to surpass 2 billion individuals by 2020.
Not only the number of buyers is projected to grow, but also the online shopping share of total global retail sales will surpass 15%.
In many retail categories, online shopping is already the preferred channel versus the traditional offline stores.
Shoppers are also increasingly moving towards smartphones versus desktop shopping, as the smartphone penetration will increase globally to 37% of world’s population.
Coincidentally, mobile is also the dominant format for cryptowallets.
Marketplace transactions accounted for 44% of the world’s $2.44 trillion spent online in 2016. Nearly 50% of U.S. consumers say they have purchased merchandise online from overseas sources, according to a UPS and comScore study
The peer-to-peer transactions are becoming increasingly global. Cross-border ecommerce already accounts for 15% of all package deliveries. By 2020, this share is expected to rise to 20% (The Economist, E-commerce Special Report, p. 13, Oct 28, 2017)
Ubcoin Marketplace Product
Product Description and Features
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.
Ubcoin is not a new standalone app, it is a new set of features, a logical next step in development of Ubank, a leading mobile payments app in Eastern Europe.
The new Ubcoin features of Ubank app include the following:
Storefront Section:
- Product categories screens;
- Product description screens;
- Smart-search engine with relevance algorithms based on search string, geography,
product descriptions, user reviews and ratings, and prices;
- AI-based engine for pre-screening user posts, product descriptions, visual and video content. Seller Account Management Section:
- Easy-to-use tools for creating and managing sale posts;
- Tools for promoting and targeting posted ads;
- Ad stats (views, clicks, conversions, reviews etc.);
- Terms of sale and payment management screens;
- Seller’s cryptowallet;
- Review management screens;
- CRM.
Buyer Account Management Section:
- Saved favorites and previous searches;
- Buyer’s cryptowallet;
- Purchasing history;
- Smart recommendations engine based on previous searches and purchase history;
- Purchase review management tools.
Product Target Audience
Ubank surveyed its current users to measure interest in Ubcoin’s potential product:
- 84% indicated their level of interest in cryptocurrencies was “high” or “above average”;
- 79% expressed interest in Ubcoin service;
- 6% indicated they currently already own one or more types of cryptocurrencies;
- Among current cryptocurrency owners, only 2% indicated that they experience no complications when converting crypto to fiat for further spending on goods or services.
The target audience is comprised of individuals, ages between 25 and 45, with various income levels, who actively use smartphones, and share, to varying degrees, an interest towards the subject of cryptocurrencies and investments.
User personas based on interest in cryptocurrencies:
- Interested in becoming an investor in cryptocurrency, but do not see a clear process path or deem acceptable the risks of obtaining cryptocurrency due to the complexity of the process, safety risks (e.g. localbitcoins), potential repercussions from tax and regulatory treatment.
- Current holders of cryptocurrencies, who had invested in them over time and continue to do so. They wish to use crypto as a means of payment for goods to increase their quality of life, but encounter constant complications when converting to fiat currency due to the complexity of the process, safety risks (e.g. localbitcoins), potential repercussions from tax and regulatory treatment.
User personas based on interest in buying and selling goods
- Individuals, who wish to buy or sell various goods. For example, a smartphone, appliances, clothing items, artworks, jewelry, vehicles, property and so forth. In 2016, over 1.6 billion individuals sold or purchased goods online.
- Small-scale producers, who utilize marketplaces as the preferred format for selling their wares. Today, over 63% of this segment sell exclusively through online marketplaces, which allows them to avoid costs of building and supporting their own online storefronts. Typical assortment of items for sale averages 50 SKUs, focus is on selling in their domestic regional markets, and they employ no IT or online marketing staff.
Product Usecases
Buyers of goods and services:
Elsa, software engineer, Stockholm, Sweden Elsa is a young software engineer from Sweden. She got excited about Bitcoin way back in 2011 and started mining. At first, she used her own desktop, then bought a few pieces of professional equipment. Today, Elsa has amassed quite a small fortune in digital currency. Sometimes she exchanges Bitcoin for altcoins as investment plays, but with increasing desire she would like to actually spend some of the coins on improving her everyday quality of life.
Going through online exchanges and cashing out into Swedish krona is quite cumbersome in large part due to significant commissions, complicated registration procedures and other limitations. Lately, she has been worried about frequent hacker attacks on coin exchanges. The last thing Elsa wants is to have some hacker steal her wealth.
Elsa’s solution - one-click shopping on the Ubcoin Marketplace. She has bought home decorations, cosmetics, even tickets for a sold-out event from a guy, who would rather begin owning crypto than go to the fabulous concert.
James, miner and crypto-investor, Vancouver James is an early adopter and experienced user of cryptocurrency. He mined his first bitcoins, then expanded into altcoins, resulting in a diversified portfolio of digital currency assets. He wishes to make use of his digital investment foresight to build bridges into the physical realm, enjoying the purchasing power afforded by the crypto coins he owns.
He wishes to purchase goods and services directly with digital assets, and is dissatisfied with the current process because:
- Conversion from digital to fiat takes incommensurate effort;
- Whether through an exchange or fiat-conversion service, he pays high fees;
- Using p2p conversion sites, there is a high risk of fraud and endangerment.
James decides to use the Ubcoin Marketplace because transactions are settled in digital currency without fiat monies in conjunction with a secure digital smart contract. Furthermore, the marketplace offers a wide variety of goods and services he consumes in everyday physical life. He prefers to buy from locally-listed Ubcoin sellers. For example, he just bought a mountain bike from a guy living in English Bay, James also hired a crew from Burnaby to spruce up his front yard, and now has set his eyes on a few properties in West Van that are listed for sale in coins. Truly decentralized secure platforms have the potential of being used in local applications.
Partners and Investors
The Ubcoin Marketplace is aligned with a select group of strategic partners, leveraging existing ties to develop a progressive vision for the future of the digital asset economy. Building national and international relationships with innovative companies enables resource-sharing, collaboration, and valuable opportunities to grow our company’s success.
These strategic partners include:
- Samsung
- Runa Capital
- Fly
Token Details
- Token Parameters
- Token Supply Distribution
The maximum supply of tokens will be distributed as follows:
- Limited Private Pre-Sale
The limited private token pre-sale is exclusive to investors wanting to contribute 5 ETH or more. To be a part of the private sale you must email hello@ubcoin.io with your full name, contribution amount in ETH and your email address. We will respond with a few simple auditing questions. Once verified, we will then add your address to the whitelist within the smart contract so that your contribution is accepted. The private pre-sale has an exclusive token sale rate. Allocation is done on a first-come-first-served basis for a total maximum lot of 200 000 000 tokens.
- Public Token Sale Details
Tokens will be offered to the public in three stages within general terms of UBC token sale. Each stage differs only in terms of placement price per token.General terms of UBC token sale (estimated dates, may be subject to change):
Stage 1 of Token Sale:
Stage 2 of Token Sale:
Stage 3 of Token Sale:
Stage 4 of Token Sale:
Stage 5 of Token Sale:
Stage 6 of Token Sale:
- Unsold Tokens
- Token Payment Methods
- Team Vesting, Anti-Dumping Measures
- Reserve Pool
The price of each successive token will be higher than the previous one by one two hundred fifty millionth. As a result, the additional supply coming from the Ubcoin Reserve Pool will always be more expensive than the price paid by any of the existing buyers during Token Sale.
- Token Sale Registration & Whitelisting
Registration opens as early as March for participants wanting to whitelist their addresses as soon as possible.
- Exchange Listing
be completed within reasonable timeframe of the finalization of ICO.
Roadmap
Ubcoin Background and Team
We continue to see ICOs making bold assertions about transforming entire industries, spearheaded by individuals with no tangible experience or background in the very industries they plan to revolutionize. We tend to see efforts led primarily by developers, engineers, or tech entrepreneurs who bring in a panel of “advisors” to assist with navigating whichever industry they aspire to “disrupt.”
The team behind Ubcoin has been working together since 2009. We ardently focus on turning new technology into widely-adopted customer experience:
- We created Navifon, one of the best navigation software application at the time-first 3D/voice guidance navigation app in Russia for J2Me and other OS phones, even before Google and Yandex announced their 3D navigations. https://en.wikipedia.org/wiki/Navifon;
- We launched uTalk. First aggregator of social network sites allowed for seamless single-interface management of Google Talk, Facebook Chat, ICQ, Skype and many other networks. By 2010, over 5 million users have used uTalk regularly. Samsung, LG and Fly Mobile pre-installed uTalk app on more than 22 million smartphones. https://en.wikipedia.org/wiki/Utalk;
- We built Ubank. To date, over 16 million users had the app installed to ease the task of managing their daily finances spread across different banks, cards, services, even countries. Ubank brought it all together in one convenient and intuitive interface. The app processes tens of millions of transactions using its proprietary payment processing technology. Leading smartphone manufacturers, including Samsung, Fly and others pre-install Ubank on all of their smartphones destined for the markets of a dozen countries.
We know how to treat investors well and deliver on our promises. Ubank was the
recipient of $8 million in investments, the largest in any fintech company in its home
market, in 2013. The investors exited the company in 2017 by means of a successful
sale to strategic investor.
Our board of advisors includes pedigreed global business professionals and influencers, it is not stacked with pre-ICO hype-makers. The board of advisors are long-term trusted business partners.
Website : https://ubcoin.io/
Whitepaper : https://doc.ubcoin.io/whitepaper.pdf?v1
Facebook : https://web.facebook.com/ubcoinmarket/
Telegram : https://t.me/ubcoin
Twiteer : https://twitter.com/ubcoin
Medium : https://medium.com/@ubcoin
My Bitcointalk Profile : https://bitcointalk.org/index.php?action=profile;u=2067513
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