U Cash is a peer-to-peer network of retail service providers (converters) combined with online and mobile applications (apps) targeted towards providing financial empowerment. U Cash allows any person in the world to access bank-like services without the actual need to interact with a bank ever again. Converters will provide conversion from fiat cash to digital cash (including Bitcoin and other digital currencies) and vice versa. Converters will charge service fees for these conversions. End-users will use the app to find the closest converter or the ones providing the best rates. This feature will work similar to other sharing economy business models.
The U Cash app lets users convert their balances between various digital currencies, pay their bills, instantly send money worldwide, apply for loans from other converters, do mobile top-ups, and much more. Some of these services are provided by partners including financial payment processors, telecommunications service providers, bill payment services, retail money service businesses, and online software integration. To help facilitate efficient peer-to-peer transactions in a distributed manner requires the use of a native fuel (U CASH) built using its own unique implementation of building on top of every capable block-chain, for access to robust smart-contract and cheap transaction capabilities, while also negating the risks of relying on just one single platform.
U Cash initially tested U.CASH capabilities using a fork of Bitcoin, and experimented with other blockchains including Ethereum, but we quickly came to realize that the niche market requirements of building a distributed financial services network requires a custom built blockchain platform that utilized all available technologies. Waiting for software upgrades and the associated technology leaps using existing networks is problematic for us as the specialty needs of our network would be in competition with various requirements of other entities and the general needs of users on other public blockchains. We believe there will be specific blockchain implementations for separate industries such as a “Legal Chain” and a “Medical Chain”, which directly address the needs of those industries, and U.CASH plans on supporting all of the ones that have value. By using its own standards, code and functions as building blocks, U.CASH will emulate and expand the existing financial services system to enable a global unbanking.
U.CASH transactions are peer-to-peer between users and converters, converters and converters and users and users. This negates the need for third party custodians of funds, instead requiring the use of a digital fuel (UCASH) to efficiently settle these transactions. Bitcoin and other digital currencies will also be supported but much higher network transaction fees may be required for use of those blockchains. As new technology layers and capabilities are built for both Bitcoin, Ethereum and other digital cash equivalents, U.CASH will continue to integrate and make use of all advancements that would benefit the ecosystem we are building.
Find More About U Cash : Click Here
U Cash Bounty ! Get 1000 Free U Cash Tokens ! Just Register and Verify Your Account