A GLOBAL TECHNOLOGY SUMMIT FOR INVESTORS AND INNOVATORS, UAP participated and cofounder speaks at the Block Seoul 2018 event presenting UAP and its technologic to thousands of investors and innovators.
What Universal Auction Program brings is the integration of blockchain technology with e-commerce, allowing for the first time a true Smart Contract between buyer & seller to provide complete transparency, with every transaction being recorded, and visible to the public. This is in effect what the world has been waiting for, in order for e-commerce to seamlessly merge with cryptocurrency transactions.
Blockchain-based auctions allows direct peer-to-peer interaction, so that buyers and sellers can conduct business in a more social setting, while still maintaining security and transparency.
E-Commerce security in blockchain is derived from its unchallengeable nature and decentralised infrastructure. It prevents bogus or deceitful transactions simply by completely removing the capacity to alter the transaction data.
Future potential partnership with world renowned auction houses dealing in fine art, diamonds, real estate and collectibles, UAP’s high value auction platform will also be able to offer a myriad of exquisite items in its exclusive auction network.
There are fragmented underlying problems with online shopping, second-hand market and online auction.
Sellers and buyers are facing risks of getting imitation or fake goods from the second-hand market, no doubt the market being the secondary market, the increasing market share had attracted the wrong people and this market is becoming a bigger pool for fraudsters to enter and cheat money from honest folks.
Traditional auctions require the buyer to be there to purchase the item, which takes the unlimited competition aspect away when compared to the online world. This means the limited number of bids and potential higher amount to be bid by buyers who are really interested in the auction item.
The UAP Token Project endeavours to implement Ethereum-based smart contract in building a blockchain-based marketplace for auctioning of both physical and digital products and services ranging from including but not limited to diamonds and real estate, automobile, electronics, clothing, books, blockchain related products and services. It will be an online marketplace for everyone to sell everything.
UAP will be a cryptocurrency trading platform for all items, digital or physical. However, there will be a separate trading system for high value items wherein the minimum value of the item to be auctioned is $20,000.00 USD valued at the time of the listing. Users can list their items on the UAP trading platform for sale and/or auction to other users. Transactions between users are managed in an open auction system and do not allow direct trading between users.
Fully ERC-20 compliant Ethereum utility token
Conceptualise of UAP Token
• Form a centre of excellence for token and digital asset exchange best practices
• Launch advertisement material for UAP Token and its related entities
• List UAP Token on exchanges
• Launch Crowd Sale trading platform
• Finalise exchange rate of UAP Token to approved cryptocurrency
• Launch ICO
• Finalise the development stages of both trading platforms
• Launch test stages of both trading platform
• Launch of both trading platform
• Develop and expand the UAP Token ecosystem
• Launch UAP Token across the United Kingdom, Europe, the Middle East and Asia