Ubiquicoin was founded to serve as the backbone for a wide range of financial transactions that will empower the underserved of the world and reduce the chasm of inequality within our local communities and our society at large. We want to take the power away from large financial institutions, governments, and other forms of bureaucratic oversight that have impeded improved modes of commerce and prevented billions of people from gaining access to suitable financial services.
With the recent rise in cryptocurrencies such as bitcoin, ripple and ethereum, we have seen some great strides taken to move towards a decentralized blockchain system that has the potential to be much more efficient and independent. However, most cryptocurrencies have flaws that may prevent them from being viable solutions in the long term, due mainly to liquidity issues, price volatility, and friction costs.
Ubiquicoin is designed to take the best attributes of existing digital currencies, and then improved upon them by addressing their weaknesses. For example, current cryptocurrencies lack any intrinsic value or assets backing them, so they tend to be volatile and speculative. While this may make them good investments in the short term as demand surges, it makes them less ideal for their true intended purpose: commerce.
Ubiquicoin backs its coins with real assets, giving the coins true downside protection. This provides people with confidence that there is value behind the digital currency. It also makes the coins a much more suitable place to store your wealth, particularly for those people who don’t have access to traditional banks. All of this helps the coins become a much more viable means for commerce.
Ubiquicoin also addresses the flawed reward system found in many digital currencies. The concept of mining was revolutionary and works very well when a currency is in its early growth phase. But as the currency becomes more widespread, mining becomes increasingly difficult and ends up only rewarding those that have the money to spend on expensive computers and powerful servers. We don’t want to reward just those with the most money, so we have taken a different approach. We reward our coin holders pro rata with 20% of revenue generated from the Ubiquicoin ecosystem. This provides an equitable source of recurring income that grows as our network becomes larger, making each coin increasingly more valuable over time.
It’s better. It’s fair. It’s transparent. It’s Ubiquicoin.