UPCX, an open-source financial ecosystem founded by Japanese financial and IT elites, aims to achieve global financial democratization, enabling everyone, regardless of location, to enjoy fast, convenient, and secure financial services.
Yet, UPCX transcends the role of a mere payment system. It serves as a comprehensive financial platform, fostering the growth and implementation of advanced applications. The platform’s backbone is its integration of high-speed blockchain technology and open-source principles, bolstering its capacity to streamline operations, including payments, bookings, order management, messaging, asset management, and investments.
Under UPCX’s vanguard leadership, we are witnessing a transformative shift in our comprehension and utilization of financial services.
I. Compliance and Legality of UPCX
Undoubtedly, UPCX is legitimate, and its compliance is one of its main advantages. This system is suited for finance, and UPCX is currently applying to be whitelisted on global and on Japan compliant exchanges.
Its core team is backed by the background of Japanese financial banks, and the development team also has experience in the development of Japan’s financial backbone system. In addition, UPCX is about to collaborate with multiple digital asset trading platforms, digital asset ATMs, and leading international social network services, among other businesses.
II. Understanding UPCX.IO’s Functionality
UPCX is a versatile application platform underpinned by blockchain technology, exceeding the typical parameters of blockchain endeavors. It’s like a high-tech Swiss Army Knife designed to meet everyday needs.
Let’s explore the workings of UPCX in detail.
1.Infrastructure and Features
UPCX operates as an effective and secure ‘digital bank,’ proficient in executing swift transfers, payments, and routine bill settlements. A noteworthy feature of UPCX is its ‘offline payments’ capability. This feature ensures that transactions can be completed via UPCX using a mobile device, even in remote locations, making network connectivity unnecessary.
Key Features of UPCX
- Rapid, Secure Transactions: Leveraging blockchain technology, UPCX provides fast, secure transaction services. Featuresinclude instantaneous fund transfers, Real-time transaction processing, and complete transparency for all trading activities.
- Smart Contracts:Another pivotal feature of UPCX is its support for Smart Contracts. This functionality enables users to personalize their transaction or payment rules. For example, a user can set up a Smart Contract to automate monthly rent payments or establish a complex transaction that activates under specific conditions.
- Offline Payments: A unique aspect of UPCX’s technical framework is its provision for offline payments. This feature allows users to make payments even without an internet connection. As long as users possess a smartphone, UPCX remains accessible, regardless of geographical location.
2.Tokens and Assets
The UPCX ecosystem incorporates four types of assets – UPC, UIA, MPA, and NFA – collaboratively building a multifaceted crypto-asset ecosystem. UPC acts as the foundational asset, enabling the creation and operation of the other three asset types. The presence of UIA, MPA, and NFA, in turn, augments the utility and value of UPC.
- UPC (UPCX Native Asset): UPC is the bedrock of the UPCX ecosystem, performing several critical functions within the system. These include the payment of transaction fees, execution of Smart Contracts, and serving as the basis for the genesis of other asset types. Additionally, UPC facilitates asset management and operations on the UPCX platform and can be used for investment and trading purposes.
- UIA (User-Issued Assets): Within the UPCX ecosystem, users or organizations can create and issue their tokens, termed UIAs. These tokens can symbolize various entities like company shares, bonds, or specific point systems. The creation and management of UIAs necessitate the use of UPC.
- MPA (Market Pegged Assets): MPAs are a unique category of crypto assets. Their value is tethered to certain underlying assets (such as the dollar, gold, etc.) or a basket of assets, ensuring value stability. The creation of MPAs requires the over-collateralization of UPC. If the value of MPA fluctuates, the system autonomously adjusts the quantity of UPC collateral to maintain a stable weight.
- NFA (Non-Fungible Assets):NFAs represent distinct, non-fungible digital assets like artwork, collectibles, virtual items, and more. Each NFA is unique and cannot be interchanged with other assets. The creation and transfer of NFA also requires the use of UPC.
3.Super App
The UPCX mobile application amalgamates various services, encompassing numerous facets of payment processes and everyday life. This includes features such as restaurant reservations, movie ticket purchasing, taxi-hailing, utility payment, asset management, and operations.
- Integrated Services:The Super App consolidates various services, enabling users to accomplish many tasks on a single platform. Users can seamlessly book restaurants, buy movie tickets, hail taxis, and pay utility bills via UPCX.
- Reward System:The UPCX referral program and super application reward system encourage active user participation, enhancing UPCX usage. The former allows users to earn UPC cryptocurrency rewards by recommending others to use UPCX. At the same time, the latter enables users to earn rewards by reviewing services and products they have used. For example, users can check travel services booked and paid for through UPCX to earn rewards.
UPCX is a holistic application platform tailored to Web3, Web2, and real-world environments. By offering swift and secure transactions, Smart Contracts, offline payments, and a Super App integrating various services, UPCX is positioned to play a proactive role in the platforms of the new era.
III. What Advantages do UPCX’s Technologies and Products Have?
As an advanced blockchain platform, UPCX enhances the automation and simplification of financial processes through various technologies and products, including Smart Contracts, planned payments, regular payments, non-custodial hosting, and authorized payments. These innovative contract features are well suited for various use cases such as financial transactions, asset management, supply chain management, and voting systems.
Its planned payment and regular payment technology provide predefined ways for automatic transactions, allowing users to manage their financial status more effectively. In addition, its non-custodial hosting technology enhances the security of transactions, ensuring users don’t have to worry about the safety of their funds. Authorized payments, as a critical technology of UPCX, provide a controlled payment mechanism, authorizing transactions only after meeting specific conditions or obtaining prior approval from predetermined participants.
Facing the future threat of quantum computing, UPCX has implemented practical post-quantum encryption technologies based on the Ring-LWE (Learning with Errors over Rings) problem and has been proven to withstand attacks from quantum computers. In addition, UPCX is also researching the use of Superspecial Elliptic Curve Isogeny as a method for quantum-resistant encryption algorithms. Finally, by implementing cross-chain bridge technology, UPCX has achieved interoperability with other blockchains. These cross-chain bridges are built using the COSMOS protocol, which improves the usability of UPCX, allowing access to features from different blockchains and leveraging the advantages of each blockchain.
UPCX, with its innovative technology and products, provides a secure, efficient, and flexible transaction method for users. It is also prepared for the future of quantum computing and has proven its leadership as an advanced blockchain platform through interoperability with other blockchains via cross-chain bridge technology.
IV. UPCX Tokenomics
UPC is the native token of UPCX with a total issuance of 780 million, nearly 242 million of which will be released as staking rewards over 50 years.
Token name: UPCX
Ticker symbol: UPC
Total supply: 780,000,000
Contract address: 0x487d62468282Bd04ddf976631C23128A425555EE
Distribution ratios:
- Ecosystem (50%) is allocated to the witnesses participating as initial nodes and distributed as block generation rewards.
- Rewards (20%) are used for referral program rewards and grants for grant programs.
- Development (8%) is used to pay the development fees of the leading suppliers responsible for UPCX development.
- Marketing (10%) is allocated to all activities that contribute to the expansion of the UPCX ecosystem, such as listing costs on crypto asset exchanges, marketing, consulting, and external advisors (e.g., lawyers and accountants).
- The team (5%) is allocated as compensation to the UPCX project management members.
- Early Backers (7%) are the quotas of early contributors to the UPCX project.
Whitepaper:https://upcx.io/whitepaper/tokenomics/overview/
UPC unlocking schedule: https://upcx.io/whitepaper/tokenomics/release-schedule/
V. Conclusion
UPCX is a comprehensive financial services platform that provides a high-speed blockchain payment system, powerful Smart Contract features, and stable coins pegged to real-world asset prices, allowing anyone to easily enjoy convenient, fast, and secure financial services.
More about UPCX:
UPCX is a groundbreaking open-source payment system driven by high-speed blockchain technologies optimized to achieve seamless settlements and financial services. In today’s vibrant digital age, UPCX is at the forefront of blockchain’s mission to shape the future of finance.
Official website: https://upcx.io/
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