How Ubcoin builds a legal marketplace?

Bitcoin’s use in illegal online marketplaces peddling everything from drugs to child porn is on pace to set a record this year at more than $1 billion, — reports Bloomberg on a basis of Chainalysis’ work.

Ubcoin team takes this issue very seriously and makes efforts to remain being a legal and transparent marketplace. So, what do we do to achieve this?

1 — A comprehensive and explicit list of items that are forbidden to be placed on sale on Ubcoin marketplace is published here: https://ubcoin.io/en/restrictions

This list includes (but is not limited to) weaponry, drugs, synthetic narcotics, porn production, fake documents, etc.

2 — A special team of moderators checks all listings that were posted on Ubcoin marketplace. Only after a moderator checked the listing for being compliant to Rules and Restrictions and approved it, it becomes visible for app users. Moderators can decline a listing — the buyer gets a notification about it and can correct the listing and send it again for moderation.

3 — We are developing an advanced AI technology that searches and identifies listings posted by scammers. Listings posted by scammers or bots may barely differ from usual legitimate listings, which makes moderation by human experts ineffective — people simply cannot notice these small differences. And AI can. It identifies four types of fraudulent listings: 1) Duplicate posts, with slightly changed details or contacts 2) Fake listings with an abnormally low price, for the mass attraction of buyers 3) Multiple posts placed by one user from different accounts 4) Listings with abnormal user behaviour at the moment of posting (protection against bots).

4 — Ubcoin cares about seller profile transparency and verification. At the moment in order to buy or sell anything you need to register/log in. In the future we will expand the KYC procedure, asking for more than basic registration info. Undergoing KYC procedure might not become obligatory, but will be encouraged and promoted.

5 — We ask all Ubcoin users to report fraudulent or suspicious listings or users by emailing us on info@ubcoin.io.

Lets build a perfect crypto-to-goods marketplace together!

Download Android App: https://play.google.com/store/apps/details?id=com.ubcoin

Download Ubcoin Market iOS app: https://itunes.apple.com/ru/app/ubcoin-market-cryptocurrency/id1410295111?mt=8