UTEMIS – THE COIN FOR LATIN AMERICA | Ecency

Trust and reputation are the fuel that drives business growth. By decentralizing their reputation on the Ethereum Blockchain, businesses that are honest will thrive, and those that are not will find themselves driven out from the system. And for the first time ever 100% of this outcome depends on them.

Bitcoin was not created to convince fiat currencies to protect consumers instead of governments. Bitcoin was created to start something new, something fundamentally better. It is for this same reason that we are creating UTEMIS.

What is Utemis?

UTEMIS is the first e-commerce that decentralizes businesses reputation on the Blockchain and unificates Latin America into a single economic space. Something happens; you get 100% of your money back. With UTEMIS, all Latin American businesses have the same opportunities to grow than the Chinese had. This is the power of decentralizing economies. By decentralizing businesses’ reputation on the EthereumBlockchain, smart contracts automatically compute your behavior on every transaction, accelerating trade for millions of small and mid-sized companies in Latin America.

The Chinese e-commerce giants use an escrow account that protects the buyer. UTEMIS escrow account works in exactly the same way, your money is always protected and if something happens, you get 100% of your money back.UTEMIS Value Proposition for merchant customers is threefold:

Find new clients and suppliers in the entire Latin American continent and evaluate them by their reputation;
Save up to 99% of the current costs of doing transactions and payments and;
Keeping our customers protected at all times against fraud (using an escrow account).

UTEMIS is applying the same business model that successful Chinese e-commerce companies use to end economic and financial unfairness in Latin America.

UTEMIS uses the same business model that has been so successful for the Chinese e-commerce giants companies like Alibaba, JD, Tmall, or Taobao. They have experienced an increase of well over 2,000% in sales since 2008.

UTEMIS is a new business model where we put the people’s priorities first. A place where if you don’t deliver, or poor quality or fraudulent products are provided it will be recorded for everyone to see on the blockchain. But it is also a place where if you are honest and do honorable business it will also be publicly available on the blockchain – adding significant business growth.

Why can't use an existing cryptocurrency?

Customers need a business model where their cryptocurrency follows their priorities not their own government’s priorities.
A well sheltered environment where money can be safe is needed without third party dependence.
A specific crypto-currency for trading business to business transactions is needed.
A specific crypto-currency for trading business to business transactions is needed.
UTEMIS is a business model that backs up the UTEMIS cryptocurrency value; its more just a cryptocurrency.
The need of a cryptocurrency that is focused on providing liquidity of trade between companies and not consumers.
The design of Utemis as a strong currency will automatically make UTEMIS attractive to initial customers whose purchasing power will be seen as protected.

Why a new token is needed?

There are dozens of countries each with its own fiat currency unlike China.
Each government has its own priorities.
Every Latin country has its own economic policy different from its neighbor.
Varying inflation rates which is managed among government.
By bypassing the entire banking system and ignoring fiat currency, UTEMIS generates substantial savings in bank fees and other costs that are now unavoidable cost of trading.

That every business increases its wealth by having access to all the customers and suppliers in the entire Latin America economic space and by being able to choose with whom to trade based on their reputation, trust, reliability and track record.

UTEMIS as an ethereum token

It’s a cryptographic token built on the basis of a proven, robust, efficient, secure and scalable technology; in a simple way Ethereum is a decentralized and distributed computing platform that allows execution of smart contracts P2P on a public Block-chain and will represent the unit for all transactions carried out within the UTEMIS ecosystem. What this means is that UTEMIS will be the virtual currency with which to buy or exchange goods within the ecosystem.

UTEMIS token issuance

The present market size of cross border trade among all Latin American economies is $820 Billion. In order to finance UTEMIS roadmap, UTEMIS will conduct a token distribution event that will offer for sale two hundred billion UTEMIS out of one trillion total supply. The proceeds of the token distribution event will be used to fund the UTEMIS operations and launch in Mexico, Brazil and Colombia and to incorporate the UTEMIS Limited Liability Corporation.

Replicating what the Chinese e-commerce giants launched back in the day, an important portion of the funds raised in the token distribution will be used to hire an extensive sales-force (hundreds of salespeople per country) needed to reach a significant part of the Latin American territory. An earmarked budget is set to improve the UTEMIS platform with new and advanced functionalities that improve on the way business to business (B2B) trading is done today. As of the conclusion of the sale, the sold UTEMIS plus the required liquidity demanded by exchanges will constitute the entirety of the available liquid supply. Another 100 Billion will be reallocated to UTEMIS Limited Liability Corporation and subject to a long vesting schedule.

Token infofmation

UTEMIS Limited Liability Corporation will introduce a cryptographic utility token, named UTEMIS (UTS), to decentralize companies’ reputation in Latin America. The UTEMIS is a cryptocurrency with a fixed supply. It is fungible, fractionally, divisible and is not subject to the inflation of any particular economy.

There is a powerful reason for creating the UTEMIS cryptocurrency token; the restrictions on access to capital, inflation, devaluations, dysfunctional economic policies, unreasonably favored banks charging inordinate fees to their customers. The lives of ordinary citizens are daily witnesses of the important conflicts of interest between the regulators of Latin American fiat currencies and the general interests of the population.

For participants in the token: only the amount purchased in the ICO will be liquid. In addition, UTEMIS has a unique ‘VIP Participants Program’ that rewards early participants with a special reward policy (similar to a ‘dividend policy’).