Why do I say in the previous article that “Yooba does not need to rely heavily on the exchange”. The current survival of many blockchain or cryptocurrency projects is largely dependent on the benefits that the exchange brings to them. Many currency related projects are keen on being a currency. But the world does not need so much currency coin at all. No one wants to use it in life in 10 different currencies.
Many blockchain projects and even the entire blockchain industry currently encounter many difficulties. Technical bottlenecks have been clearly described in many other articles. These difficulties I believe can be solved with the development of technology, and many of them have been solved. I mainly want to discuss another issue. The large area of blockchain is used in real life difficulties.
The reason why the blockchain is currently difficult to apply to a large area of daily life is mainly because many traditional enterprises or organizations are basically centralized. If these centralized points are introduced into the blockchain, it is easy to destroy the decentralization of the blockchain. Many blockchain projects are used in code space, and it is easy to achieve decentralization, but it can’t exert its great value.
To complete Yooba’s dream, we must have access to traditional industries on a large scale. So Yooba needs to introduce the traditional centralization industry into the system, but it needs to design a mechanism to make these centralized points logically decentralized in the system. Or the decentralization of the abstraction level. Yooba does not intend to achieve complete thorough decentralization in just one step. Because that is basically difficult to achieve. And making a castle in the air is meaningless or has little meaning. Yooba intends to actively introduce traditional industries, and they can become a member of the Yooba system without any change. In addition to many virtual goods and services, Yooba also has a large number of physical forms of goods and services. Most of these physical forms of goods or services are provided by centralized businesses and individuals.
Trust has a pivotal position in trade. Without trust, it is difficult to easily trade. At present, the trust problem of various trade behaviors generally relies on trusted third parties or authoritative institutions to solve. These authorities and third parties are often hindered by decentralization. Yooba needs to address important issues like trust. Yooba needs to turn these centralized parts into decentralization. But keep its role in the system. Creating a purely untrustworthy decentralized system will not be of great value and may pose significant risks. All we have to design the system to be credible, decentralized, and applied to real life. To fulfill these requirements, Yooba designed a mechanism for progressive implementation. We all know that individuals and businesses can offer and buy goods and services on the Yooba platform. We all know that the role of trust in trading is very important.Nor mally, the regular seller does not care who the buyer is. As long as the money is received, it will provide services or goods. The buyer often requires more knowledge of the goods and the seller to be able to hand over the money. Usually the buyer wants to protect privacy as much as possible, and the seller wants to promote its own brand as much as possible. The buyer’s fundamental appeal is to hand over the money to buy a good product, and the lesser the person who knows his real name, gender, age, identity ID, phone number, what to buy, etc., the better. On Yooba users only need to enter the correct parameters into the product contract. Then according to the commodity price, transfer the corresponding token to Account/Store to obtain the corresponding goods or services. The seller only knows someone bought his product, and where the product is sent or which account receives the product. Other information about buyers does not need to be known at all. So the seller is usually willing to inform their users of their information. However, buyers generally do not trust undisclosed individuals or unknown small groups. In the absence of third-party guarantees, users who are cautious are generally not going to buy their products. So even if there are a lot of personal Account uploaded products, it is still an adventure for ordinary users to buy their products. Because the user may have given the money, but could not receive the product and could not find the merchant (part of the information provided by the merchant is false). But there are always some users willing to buy their products. Such as business acquaintances, after confirming their identity through the line, willing to trade with the city offline users, users willing to risk rare products. We hope that a wider range of users can enjoy Yooba’s services. Yooba offers Store account types to provide better services and attract a wider range of users and businesses as much as possible. Assume a very well-known brand, create a Store account through the Yooba client, and upload their own product. Then on its own official website (trusted place), it accesses the Yooba service through Yoobajs, logs in to its Yooba Store account, and can display the products in its Store account on its official website (of course, the display page needs to be customized ), so that users can use Yoo token to buy their products very confident because their official website is trustworthy. This way to promote, users can log in to the browser Yooba plug-in, browse where (game site, music site, video site,shopping site, etc.) to use the token to buy on the line, do not need to log in other exposed privacy account, Buy more convenient and faster.Let’s assume another scenario. Another well-known shopping site wants to add more products and build a big platform. These large platform-type stores can also allow many local trusted individuals and small stores to join. These large stores can have their own authentication mechanisms for small stores within their own platforms. They have the responsibility and obligation to screen their service providers to protect the interests of users. Because the external users see a large store, they will be charged according to the contract a fee for the merchant within the platform. In addition, these large stores can introduce service providers such as insurance to increase their credibility. These large- scale service providers, insurance, logistics, and contracts represent certain trust agencies. In this way, in a decentralized system, through various credible links, relatively reliable stores, trusted service providers, and trusted steps, etc., step by step to enhance transaction credibility, to better serve users. And these relative reliable points are not the only points in the relative domain, so they will not lead to a regional centering. And each point is in a competitive relationship that helps provide better service.Yooba designed this multi-intermediary indirect implementation of trust and decentralization. At some point it may be initially weakly decentralized, but with the development and maturity of Yooba, the function is constantly improving. Will gradually form a more complete and thorough decentralization. Gradual users do not need the protection of these trusted middlemen, and they will have a great sense of trust in the system and personal goods and services. Because they have established stable trade and trust relationships through many normal transactions. At a certain stage of Yooba’s development, a score credit will be introduced. This score is calculated based on Account’s transaction history and historical evaluation on Yooba and is synchronized across the network. Score is initially divided into 5 points, out of 10 points, and the lowest is 0 points. Score affects the user’s trust in their goods and services, which affects the popularity of the services provided by users on Yooba. It also affects what users can enjoy on Yooba. For example, a service provider imposes restrictions on the smart contracts it provides for services: only accounts with a score greater than 7 have the right to purchase the service. Score specific computer system will not be implemented in the initial version of Yooba. Its value is 5 before it is implemented. These mechanisms, etc., will enhance the security and scalability of the entire system.
Go back to the original question. Why doesn’t Yooba rely heavily on the exchange? Because it can be used as a medium for purchasing goods and services in the Yooba system. As long as the entire system is used and recognized more and more people. It is of great value in itself. Even in the future, you can use YOO to buy a other coin of an exchange Store on the Yooba platform.
Although Yooba does not strongly rely on the exchange. But being able to get more exchanges can boost their ecological prosperity while returning our investors and supporters as early as possible. The Yooba team will put the right work into place at the right time.