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Universal Auction Program Introduces Blockchain-Based Online Marketplace

UNIVERSAL AUCTION PROGRAM

UAP is aimed at providing a decentralized digital marketplace for auctioning of both digital and physical goods and services for everyone around the world, with an emphasis on high value items such as diamonds and real estate.

"UAP is a proposed system that uses the blockchain technology and leverages smart contract techniques using Ethereum's core innovation including security and immutability. We seek to implement smart contracts that can reduce the problems associated with payments for a wide range of industries and blockchain market sectors." - Tim Cooper, UAP founder

UAP is a project that aims to facilitate transactions between consenting individuals who are interested to find potential opportunities using the Ethereum technology. One key goal of this project is to build trust within the network that can potentially resolve the common challenges from the existing legal systems such as geographical separation, incompetence, incompatibility, expense, interfacing difficulty, corruption and inconvenience. By implementing a change - state network based on Ethereum smart contract, everyone can benefit from unambiguous language and we can reasonably expect to create an agreement that can be enforced autonomously and explore excellent benefits in the market that are not often found in the real world. We promote transparency with UAP project in order to come up with a clear sense of judgment through the implementing rules, transaction log and instructional codes which never occurs perfectly in a human-based system. Overall, we wish to provide a platform such that every user can be guaranteed that no matter with which other users, organizations, and systems they can interact, they can do so with absolute confidence.

Featured Partner - Sacotech

One company to adopt Universal Auction Program’s UAP token for its business process is Sacotech

Sacotech is a leading auctioneer of rough, polished diamonds through an extensive network of buyers, sellers and auction houses. Now, for the first time, the company is bringing together one of the industry's largest international and diverse network of Registered Sellers and Registered Buyers through the launch of Auction Services for both rough and polished diamonds.

Chief Executive Office, Edward Norman believes, “The partnership between UAP and Sacotech promises a unique blockchain-based platform for the diamond and jewelry industry. The aim is to engage all industry participants including manufacturers, retailers and consumers to know a diamond's story from the origin to the end customer. This has been developed from understanding that consumers have a keen interest in the lifetime journey of their diamonds and jewelry, as well as the industry desire to demonstrate authenticity, transparency, and provenance.”

Media Contact
Company Name: Universal Auction Program
Contact Person: Media Relations
Email: Send Email
Country: United States
Website: http://atauctions.com/



Source: www.abnewswire.com

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