Up Digital Currency (UPDC) has release their updated whitepaper to give a clear roadmap for the future of UPDC. This starts with the new whitepaper, highlighting the rebrand from UpStake to UPDC. The original UpStake project has expanded past the initial plans to include a long term vision of a complete commerce platform. As well as a Store of Value. Reading the whitepaper will give you a solid idea of what the team has been working on. In addition, you’ll see where the team is headed. The first step to success is the upcoming 100:1 split and reissue of UPDC tokens on the Tron TRC-20 network. You can read about the split on my blog here.
After that, UPDC will have the necessary amount of tokens on the blockchain to allow for the increased volume. Which these other projects should generate. Remember, to be successful UPDC will need to increase volume/liquidity; which is currently the only “issue” they have. As a result, I don’t really see the current volume (or lack of) as a real issue since the project is in its infancy, and I’ve seen well known “mature” crypto projects which face liquidity issues
The next few months should see a few projects launching.
- First of all, the 100:1 split and move to trc-20 should be happening in the next week or two.
- Moolah.bet is the next in line to launch. Moolah is a community-owned gambling website. All profits are paid out, daily, to members who stake UPDC tokens. Focused on fairness and sustainability, Moolah.bet has a huge strategic advantage over its competitors in the space, since UPDC tokens rise in value. Members who wager are rewarded in UPDC tokens based on their level of play. Moolah should launch in May; provided there are no last-minute issues. Moolah is a really great opportunity since it pays you dividends for UPDC which you stake. More about the project later.
- After Moolah comes Exchange 2.0 which will allow token holders a second exchange option to sell smaller amounts of tokens. The smaller the sell amount the closer to the front of the line you will be placed. This allows larger sellers to utilize the main exchange to sell larger amounts of tokens, while allowing sellers who are only looking to sell a few tokens to have an avenue to sell without having to get behind someone looking to sell 10,000 UPDC tokens.
Additional Projects highlighted in the whitepaper are:
Crypto Payroll (Enterprise Business Solution)
Payroll solutions allow employees the ability to take a small percentage of their salary in cryptocurrency. Business owners can buy UPDC in advance. Simultaneously saving them money. Additionally, as the employee holds their UPDC tokens, they are assured that their savings will increase in value.
Just like a normal online shop, the Shopping site offers buying of quality items. Initially, the app will provide approximately 100 products. Users can use lay-buy / lay-away plans with UPDC.
Next generation of gaming entertainment would allow for a reliable in-game economy. Underpinned by the economic system of UPDC tokens; players will be able to yield a financial benefit from in-game skill and time invested in playing.
The wallet provides a safe place to store UPDC allowing members to send and receive UPDC. Wallet includes the ability to find businesses that accept UPDC, Tap n GO for in-store purchases, withdraw instant funds from ATM’s, and send gift certificates to friends and family. The wallet will be the future of UP Digital Currency.
While the UPDC team will be launching initial applications and services. The team will simultaneously be looking for reliable teams of developers with independent projects who want to join the UPDC ecosystem. In Addition, Up Digital Currency will establish partnerships/mergers with appropriate projects that add real value and exclusively use the UPDC token. For a long-term sustainable platform, the UPDC token will have utility in a wide range of popular use cases. The services below will be part of the partner programs and independent projects which will be brought into the ecosystem.
- Fantasy sports platform
- Gambling platform
- ATM services
- Game simulators
- Payroll services
- Multiple independent UPS exchanges
- Gift registry/gift certificates
These projects highlight just how large I believe this project will become. In conclusion, I’m excited to be an early user/investor in this project. If UPDC is able to complete even half of these the future will be very profitable. Most noteworthy, the team has been remarkable with hitting dates, which fills me with confidence.