Uber Investor Gives Advice on Where to Invest
Learn about Uservice, which utilizes blockchain and cryptocurrency to revolutionize the auto industry.
Cryptocurrency's popularity is now at its peak. Every day we hear news about dozens of new ICOs. It is difficult to understand all of this yourself, that's why the opinion of an experienced investor is especially valuable.
We asked one of the main Uber investors, the head of Caspian VC, William Shore, to talk about the new project Uservice, where he is an adviser.
Could you please tell us about Uservice project?
Shore: Well, you probably have a car, and you are familiar with the process of buying the car, getting it insured and then finding the auto service centers, etc. And the thing is that every time you try to make the process easy and comfortable without wasting too much time on this.
The idea of our project is to unite all auto industry players onto a single platform called Uservice. We are building our project by using blockchain technology which guarantees efficiency, transparency of all deals, and saving the history of it all in one place. As a result, you spend significantly less time and get significantly greater results at a lower price tag.
What inspired the Uservice project?
Shore: We had few inspirations. Without a doubt, one of them was UBER—the brightest example of a successful realization of the aggregator platform. The blockchain technology opened new opportunities for our project. The rapid development of the cryptocurrency allowed us to introduce own currency into our system for settlements within the Uservice system using UST token.
How does this project differentiate from competing blockchain platforms?
Shore: We have a number of serious differences; in addition to optimizing the solution of all the relevant issues that arise as the car is used, we pay particular attention to such important topics such as reducing the impact of car products on the environment. We have a method of processing used oil, parts, tires, etc. We emphasize more on the comfortable conditions for car insurance and loans. In our module, due to the growth of our tokens rate, all costs and payments will be compensated without causing financial stress to car owners.
How will Uservice impact the auto service industry?
Shore: As per our plans, the Uservice platform should bring the auto industry to a fundamentally new level. Many communicational, financial and other business mechanisms in the auto industry have not changed for centuries. Despite the fact, the world around us is changing rapidly every second. Our platform will force auto industry to further develop and become convenient, affordable and closer to its users.
How do you plan on creating an ecosystem around the project?
Shore: All auto industry participants need a sales market. To ensure it in today's market, companies have to spend significant amount of money and effort.
For the consumer, on the contrary, it is necessary to solve the problem of a choice among a number of the companies offering identical services. By inviting both parties to join the Uservice platform, we provide direct communication and fair competition. The services of our platform will have a fee for companies only, and all transactions on the platform will be performed using UST token. The
users of the system are free to select who they want to partner with in our ecosystem. Moreover, they will receive tokens as a bonus for the service performed on the system. Therefore, the more transactions will be conducted on the platform, the higher the rate of our currency (UST token) will grow.
Which exchanges will implement UST token?
Shore: We are planning to sell UST tokens on the largest crypto exchanges. At this moment, we have a confirmation with. As of February 1, 2018, our tokens will be available to purchase on these platforms. By May, we are planning to make a deal with other large crypto stock markets.
In short, please describe the process of how the tokens will be sold?
Shore: The exchange rate of the tokens is 0.0005 ETH. The presale process is already taking place. It started as of November 20th and will last until December 17th. During this period, you will be able to purchase our tokens with a 50 percent bonus, meaning for 0.00025 ETH. We have a minimum threshold of 3000 ETH, and if we do not meet the desired results, then the collected funds during the presale will be returned to the investors. This is ensured by a smart contract. But, we are sure this will not happen and everything will be successful.
Furthermore, as of December 18th, we will have a weekly increase in value: 1st week – 20 percent, 2nd week – 10 percent and 3rd week – 5 percent. The sale of tokens ends on February 1,2018 and they enter the stock exchange in free circulation.