I want to ride my U‐Bicycle
Imagine, you have developed some mobile app for bikesharing, i.e. when people can mutually use bicycles in a manner Uber does with cars but in this case without any agent in between. Adding to the fact that you live in China with its 1.5 bln people your prospects grow at an enormous rate. If you make it only in one of its provinces, where several millions live, it is definitely obvious that you nearly hit the jackpot. A small gesheft from users will bring you couch and piña colada in villa paradiso on tropical islands.
However, that became not enough for our heroes. You may claim you’re sitting on the top of the world only if you have conquered America. That’s why they and their bikes went to the US and for some reason to Canada to start their project there. The project is to be called in style of Uber. Enter U‐Bicycle.
But, as it turned out, no pain no gain. Angry customers said bad words about their baby. The U‐Bicycle app has around 5K downloads and has gained 2.5 stars out of 5 in Play Market (the situation in AppStore is not better. However, the company claims it has about 30 mln customers). Users are unhappy with conditions of bicycle and company’s services. In short, it seems the app couldn’t bring its developers no fortune and glory.
UnUchain My Heart
Instead of improving or wrapping it up the guys decided to scale their idea to the whole shareconomy. Geez, we are standing on the brink of the future! F#ck bikes! In the sharing economy system you can work with thousands of entities.
All you gotta do is create your own blockchain and some crypto. With your p2p‐network you open doors for many ready‐to‐operate businesses. What a wonderful world you can imagine.
So, the U‐Bicycle guys did just that. They got team of developers, they hired advisors, hande a concept, created site and wrote all necessary papers. It looks good at first glance as some nice reviews go out and potential investors are awaiting big revenues.
Wish we would dive into the project like that.
First of all, what kind of sharing platform can master such people that have some obscure app under their belt?
Second, if we read a bio of Grace Min, project’s co‐founder, we can learn that she founded Dozen Fresh International Trading, SG International Travel Ltd. She is also an investor of Oval Town Properties. It’s supposed those name should speak for themselves. However, even Google cannot tell us about Dozen Fresh anything.
Last but not least, in the previous months some strange buzz took place. The planned crowdsale was substituted with airdrop and bounty. The team has lowered their hardcap as there was insufficient interest in their sale. Some folks that took part in pre‐sale were angry since there’s no info on refunds.
No Comment