The Universal Auction Program is determined to provide users with a decentralized digital market for the selling and purchasing or auctioning of digital/physical goods and services to anyone in the world.
The Universal Auction Program which is also known as UAP is focused on high quality/valued items like diamonds, real estate etc. And these products and services will be traded on the UAP auction platform.
The UAP system is designed to use the Ethereum Blockchain-based market. This will power the decentralization auction marketplace of the physical and digital products which will be traded on the platform. The platform will leverage the ethereum smart contract technique which is enhanced by ethereum core innovation, security, and immutability. This smart contract will eliminate problems associated with payments solutions from a different part of the world, which plagues several industries.
The Universal Auction Program Token
The UAP token will become a platform for trading cryptocurrency which is used for all digital and physical products. But not just that, there will be another trading system which will be different or isolated from the general market dedicated to the trading of high-value items where the minimum value of auctioned items will at the time of listing not be less than $20,000. More than just that, users of the UAP token can make listings of their wares on the platform for trading. It is safe because transactions between several users are handled using the open auction system, which does not allow direct trading between merchant and clients.
Why The Universal Auction Program Is What You Need?
- Leverage Of The Crypto-Platform
The Universal Auction Program will Leverage the Immutability of the ethereum blockchain. According to Forbes, If transactions are decentralized, unscrupulous third parties will no longer be able to make changes to facts, figures or any data whatsoever. It is a fact that applications which are based on the Ethereum Smart Contracting principle are protected against corrupt practices and any known form of sabotage. The network utilizes a security encryption otherwise known as cryptography that protects the Ethereum network from brute force attacks, hacking or other fraudulent activities.
- Super Quick Transactions
The cryptocurrency technology is known to be super-fast with immediate settlement.
The speed of the ethereum network is very important for traders who want to complete transactions fast, especially for those demanding sectors like the insurance and real estate industry. Buying properties for instance usually involve a third party which makes the deals very slow. In addition to this slow deal, there will be fees and delays which is as a result of the requirement that the third parties must fulfill as an obligation for been connected with the transaction.
However, the ethereum smart contracts will be used in this marketplace, and it will eliminate the need for third-parties and external approvals before procurement procedures are carried out at a given point in time and for a fraction of the asset transfer costs.
It is important that these transactions are carried out in a decentralized environment, because this helps transactions to be done at lower to no transaction costs for the transaction, but instead, the Ethereum network compensates participants for taking part in the transaction.
- Unlimited Market Sector
One of the biggest advantages of the cryptocurrency system is the fact that it is recognized and can be used by merchants in countless market sectors.
This ethereum based environment is one which allows both parties (merchant and buyers) the freedom of exposure, in that it is accepted globally, they can list their products, goods, and services for a worldwide market.
Through the acceptance of UAP tokens, smart contracts are leveraged, on a platform which is innovative and quick for processing deals and an ongoing processing for consumers. This helps to boost organizational reputation, prove legitimacy, show seriousness to business because nothing is standing in the way of transactions.
With these UAP tokens and the ethereum based network, businesses can now do business remotely, and cut the cost of traveling, conferencing, etc. host these conference over the air, pay with UAP tokens, save time and overhead cost. Applications are used to the best effect and everyone is happy.
- More Than Just Security
The UAP platform doesn’t only promise security and convenience but also networking. There is peer to peer communication which allows merchants and clients to converse and share knowledge. This brings people in the same field together and allows for interaction, innovation, and development.