USECHAIN - ICO REVIEW

Usechain is a Singapore based firm committed to getting self-sovereign identity Block local community substitute to the very famous BTC and ETH Block chains. Use chain incorporates a lot of impressive ecosystems these as Randomized Proof of Do the job a multi tried sharded system, connection with federal GOVTs IDs, and Social Media based mostly credit rating making, securitizing, lending plan on which lot serious, the regular living application might well be designed. Opportunity purpose includes IOT, Finance, Social Community, Supply chain and Internet Games. Usechain is committed to developing the first mirror identity blockchain ecosystem by shaping itself into a worldwide platform with a rich variety of application scenarios, the largest communities and the most advanced technologies. Usechian empowers identity and makes everyone on-chain with a very low barrier. Individuals can participate in the ecosystem by investing time, attention, asset, etc. to create value. Subsequently, participants will be rewarded fairly in the ecosystem, allowing value to be given back to the original users, thus eliminating monopoly and third-party giants in the current society.

A centralized identity management system also encounters other issues such as:

• Repetitive registration/KYC
• Identity risk

• Repetitive registration/KYC
Our current personal data and information are not well protected and vulnerable to potential privacy breached. This is because many of the activities that we do, we have to identify ourselves such as registering for an online service, buying insurance, taking a loan or even going oversea. We are prone to doing multiple KYC and sharing of our information. This process has become repetitive.

• Identity risk
Our information and data have been constantly shared with various business companies and online platforms so that we can access to the places or purchase products that we need. However, many of us did not realize that these actions put our identity at risk, potentially identity theft, breach of data, data leakage and misuse of information. This happen because E-commerce, social media and business companies have control of our personal data. Our private information is at risk of security breach in the hands of these centralized platforms and entities.

Rise of Self-sovereign identity

It shows that centralized identity management system has deficiencies. Self-sovereign identity allows individuals to have more control over their information and at the same time to be able to share minimum amount of information that the given party needs for identification. Usechain will be the first mirror identity project using blockchain technology to address the issue on centralized identity management

USECHAIN AND BLOCKCHAIN TECHNOLOGY

Usechain Innovative Blockchain Solutions Introduce a brand-new consensus mechanism, Randomized Proof of Work to perfectly balance high performance and strong security, and apply multi-level authentication and encryption mechanism, Zero Proof, Identity Virtual Machine (IVM), Identity Network Sharding (INS), Identity Transaction Sharding (ITS), Enhanced Smart Contract, and other innovative technologies to create a new generation of Blockchain, leading Blockchain 3.0. Usechain is built on mirror identity protocol merged with high-level innovations in structure design and technology to eliminate the delays in the process of developing blockchain and bring a perfect balance between scale, security, and decentralization. Usechain, as an ecosystem is growing fast and will hold thousands of credit-based and identity-based applications in the future.

UseChain Benefits

Compared with current mainstream public blockchains like BTC, ETH and EOS, Usechain solves the Impossible Trinity among scale, security and decentralization and provides a new way to design the application scenarios based on massive use of identity since it is built on MIP and receives multi-level reorganizations in underlying level of blockchain.

How UseChain Mirror Identity Blockchain Works?

Usechain is built on mirror identity protocol merged with high-level innovations in structure design and technology to eliminate the delays in the process of developing blockchain and bring a perfect balance between scale, security, and decentralization. Usechain, as an ecosystem is growing fast and will hold thousands of credit-based and identity-based applications in the future.

Commercial & Technical Strategy

“Usechain, the self-sovereign identity blockchain, is ultimately aiming to solve the trust issue in this society,” says Usechain CEO and Cheung Kong Graduate School of Business (CKGSB) Professor Huining Cao.

“KYC(Know Your Customer) is important to the financial industry. We have came up with a new concept that can map every person, every business and every asset to the blockchain,” says Professor Cao. “Every person or business will have a real account. We then transfer through smart contracts to build deeper trust.” By identity mapping, it will allow Usechain to meet the critical KYC standards of traditional financial institutions, shifting the focus on “who you are” to “what you can do”,making it more compliant to applications outside of its own ecosystem. It will also greatly reduce the cost of identity assurance and reform financial industry.

Engineered by a world-class technical team, Usechain will achieve a balance between scalability and security by fusing their unique “Randomized Proof of Work” (RPOW) revolutionized consensus built on identity with a multi-tiered sharding network to make transactions safe and efficient. Real identity information will be encrypted for privacy and mapped for legal assurance so as to be available to governments for investigations against criminal actions.

TOKEN AND ICO DETAILS

UseChain UST Token ICO Details

Token symbol: UST

Token sale date: 05/06/2018- 06/16/2018

Accepted payment method: BTC and ETH

ICO: 9000000000

Volume: 20,000,000,000 UST

Softcap: 1350 BTC

Hardcap: 4500 BTC

ETH(Ethereum), BTC(Bitcoin)

The next round whitelist will reopen at 7AM UTC, June 20,next will be the kyc and crowdsale Price will be 1BTC=1000000UST,lock until exchange at mid July,cap is 1-5ETH

Token Distribution

Maximum token amount for sale: 45%
Marketing & Partner Support: 5% (with bounty comprising 6%)
Community Rewards: 20%
Technical Community Rewards: 15%
Core Team: 15%

ROADMAP AND DEVELOPMENT PERSPECTIVE

Q2 2018

Develop privacy protection system.
Form core community and achieve 50000+ people.

Q3 2018

Develop software-based RPOW consensus algorithm.
Develop enhanced smart contracts.
Develop TPOS consensus algorithm.
Launch beta version of main chain.
Achieve 100000+ people in the community.
Launch the first DApp.

Q4 2018

Set up sub-chain structure.
Develop cross sub-chain communication.
Build Usechain eco-fund to accelerate ecosystem development.
Develop multi-industry vertical community.

2019

AI system of address behavior analysis.
Develop tokenized multi-node system.
Develop hardware-based RPOW consensus algorithm.
More multi-industry identity-based DApps.
Launch decentralized exchange.

TEAM

HENRY CAO — CEO & Founder
He is the founder and CEO, a finance professor at Cheung Kong graduate School of Business, founder of the first finance MBA program in China. He was 13 years old when he was admitted into the USTC gifted class, I taught at the University of California at Berkeley.

BAOHONG SUN — CSO & Co-Founder
She is a co-founder, CMO and marketing professor at Cheung Kong graduate School of Business, Dean’s Distinguished Chair professor of market, Associate Dean Chaired professor at Tepper Buisness school, editorial board member of marketing science.

SHENGLI ZHANG — Chief Scientist
He is the chief scientist and senior blockchain specialist, wireless network technologist, presenter of physical Layer Network coding, professor of Shenzhen university, senior member of China electronics society and a holder of 3 national invention patents of blockchain, USTC BS and MS CUHK PhD.

FENG ZHANG — Senior Financial Specialist
He is the senior financial advisor, an expert in thousand talents with about 30 years of experience in QIHF globally, MD of Asset management department of CitiGroup/ Morgan Stanley

ERIK XU — (COO)
He has about 10 years of experience in internet and information security industry in general management and marketing. He is a serial Entrepreneur, Head of information security project at national information security Engineering centre, member of national information security.

ANDY ZHOU — (CTO)
He is the technical director of Beijing United Electronics Co, Serial Entrepreneur in IFLYTEK, Huawei, technical director in Chukong technology, deep understanding of big data, artificial intelligence and distributed system, Double a bachelor’s degree from University of science and technology of China (USTC) and MS from Chinese Academy of sciences (CAS)

LIN ZHAO — (CPO)
He has about 10 years of experience in internet and new retail industry, experienced in platform building for horizontal e-commerce E co-friendly product and service specialist.

AMANDA SHEN — (CMO)
She is the public Relation and marketing experience for 12 years, marketing strategy manager of FedEx China

Advisors

LUCAS LU — Advisor
He is the senior advisor, senior expert of blockchain, founder and CEO of 5miles and cybermiles (CMT), the first general manager of Mobile Taobao, China university of science and technology BS, SMU PhD

YIN CAO — Advisor
He started his research and promotion of blockchain application in 2015 and was among the first to propose the concept of Energy internet in China. He is a co-founder of the first energy blockchain Lab in the world, major member of the technical working group China of Hyperledger project

For more information please visit the links below;

Website：https://www.usechain.net/
White Paper: http://www.usechain.net/usechain_en.pdf
Technical White Paper: http://www.usechain.net/usechain_tech_cn.pdf
Facebook：https://www.facebook.com/UsechainFoundation/
Twitter：https://twitter.com/usechain
Github: https://github.com/usechain
Reddit：https://www.reddit.com/user/Usechain
Linkdin: https://www.linkedin.com/company/usechain/
Medium: https://medium.com/usechain
Telegram group: https://t.me/usechaingroup
Telegram channel: https://t.me/usechain

Author: BrainerdPaul
BitcoinTalk profile link: https://bitcointalk.org/index.php?action=profile;u=1680409