USECHAIN - Enterprise Application of Mirror Identity Blockchain

phlaser (42)in #blockchain • 6 years ago

The birth of new technologies in the human is world always usher in anxiety and how best such technologies can be fully utilised without undermining it or approaching it from wrong perspectives.

Advent of the Blockchain Technology in 2008 usher in so many opportunities. Most of which promises heaven and earth but actually are unable to meet up with their promises. New blockchain protocols keep popping up every now and then without any iota of what it entails but blinded by greed to gain more profit. No wonder transaction charges are high, delayed confirmation of transactions, advanced technical difficulties as well as anonymous platform.

These challenges makes it very difficult for blockchain protocol to gain mass adoption as well as enterprise applications. But not to worry, the solution is here and that is USECHAIN Mirror Identity Blockchain.

Using Mirror Identity, Usechain intend to link the real and digital worlds together in order to attain efficient scalabilty, security and decentralisation to bring about digitiztion of everything.

Usability of the Usechain can be applied in the following enterprises:

Decentralized Financial Services
With the aid of identiy-mapping addresses, data are thoroughly analysed by Usechain, which is used to create a fair, tranparent identity value and trust in the system. Distributed ledge technology (DLT) is integrated to spread the whole process in the blockchain framework, which enhance permanent recording of the identity credit status rating on the blockchain. Any attempt to breach such ratings will cost a fortune. Point-to-point decentralized transactions thus increases confidence in operation, enjoining individuals to access secure, convenient and flexible fincancial services such as crowd funding and loan.
Cryptocurrency Payment
Cryptocurrencies stored in wallets can be used to initiate payments, which will be processed in a peer-to-peer decentralized platform. Since it has no attachement to a centralised system, any form of intermediaries or middleman or agent is cut off thus, transaction fees are relatively small especially when using a credit card.
More Credible Sharing Economy
The issue of trust is resolved by broadcasting client's behavioural data on the blockchain, which is accssible to all and cannot be mutilated (changed or deleted) by anyone.This enables everyone to build a behavioral status on the platform because before any dealings are initiated, the client's bevioural data will be checked.This ensures individual to keep gppd track of their behavioural data.
More Efficient and Secure IoT Applications
As advancement in Internet of Things (IoT) and smart devices increases exponentially, no sooner than 2020, more than 6.58 smart devices will be attached to everyone. With the Mirrror Identity Usechain project, IoT will not just provide decentralized solutions, securedness or high-performance but featured low authentication cost, identity verications as well as high efficiency.
Unattended Investment and Equity Management
With Usechain decentralized platform, users can set up fund for passive investment in the market. No management fee is involved and the transaction is very transparent. Withdrawal charges isn't outrageous but based on the value of asset to be withdrawn minus a certain fixed transaction fee.
Decentralized Insurance
This is enhanced with the DLT, which permits individuals to gain confidence in mutual-aid accounts. Each user within the community can participate in any unattended insurance fund with Usechain token (UST). The investment in insurance will be set to the future based on the algorithm, which is applicable to real life situations (medical and life insurance) as well as no premium collection. Within the stipulated time frame, every investor will be paid their corresponding guarantee insurance payout without delay with all forms of expenses and charges deducted.
Decentralized Exchanges
There are several hundred of platforms out there, which are solely centralised and charcarterised with huge transaction charges and are only in existence to make more profits. With such centralised platforms, users are prone to threat and can easily lose important data to hackers via cybercrime and at high risk trading further on such exchanges. But with RPoW consensus and a decentralized platform, all centralised platforms will go into extinctions. With the aid of high-performance ide titg-based blockchain, Usechain will build a decentralised platfome that will focus on better user expeeience, efficiency and security.
Tuition Fund
Usechain offers a Tuition Fund in order to provide an interest-free loans that will be used by students with challenges in meeting up with tuition fees. It will be structured such that alumni can donate Cryprocurrency to the tuition fund from which students can take some loan in order to complete their education to be repaidas soon as such students have graduated and started working. The UST token will be used to ease the transaction processes.