We all know that one of the most important feature of blockchain technology is to provide a more simple and secure payments for both end-users and businesses, alike.
It is a fact that although blockchain has a big advantage for the payments, there is still a huge room for improvement of digital payments between buyers and sellers during usage of physical trade services.
Buyers are mostly not enough satisfied with the advantages of digital payments on blockchain such as low fees, high speeds and anonimity. What they also want is a strong customer protection system. Such as purchase to be covered in case of any problem and refund/money back guarantees.
On the other hand sellers are also not satisfied because of being scared about possible troubles of accepting cryptocurrencies. Such as fluctuation in digital currency prices and volatility.
The main goal of UTRUST is to develop a next-generation payment model working with a groundbreaking purchase protection mechanism.
In this model,
Buyers can use any major cryptocurrency to purchase goods and services with a strong customer protection model. UTRUST reduces scam and fraud risks to nearly zero by the model with a dispute resolution system which is very similar to Paypal. UTRUST guarantees to protect the buyer from the payment moment to delivery time.
Sellers also have major advantage with UTRUST Platform. UTRUST enable sellers to accept multiple cryptocurrencies at once and protects sellers from price fluctuations converting all received transactions to fiat immediately. Also by dispute resolution system, sellers get rid of hacked credit card payments, sneaky chargebacks and such frauds.
How UTRUST Works
The seller offers a good or service on the marketplace with a specific price.
A buyer checks the offer and decides to buy.
Buyer pays with one of the major cryptocurrencies with a low conversion fee (for converting the cryptomoney to fiat) or can choose to pay with UTRUST token without any conversion fee.
UTRUST holds the fund in escrow and received cryptocurrencies are converted to fiat instantly to protect seller from any valolity risk. Holding period depends on merchants performance history.
The buyer recieves the good or service and the seller gets the fund in fiat currency.
If everything does not go like clockwork, for example if buyer does not recieve the article because of some reason; buyer can open a dispute about the issue. In this case if seller and buyers can not solve the issue by theirself, UTRUST serves as a referee and mediator and manages the dispute collecting evidence from buyer and seller and finalize it issuing a refund to buyer or releasing the funds to seller.
The UTRUST Token
It is really not easy to find a token backed up by a platform which makes the token spendable in its marketplace. UTRUST now gives a good chance to crypto-investors to get in at a low price.
Start: 28th August 2017, 4pm GMT
Token Supply: 1,000,000,000 (1 Billion)
Maximum Crowdsale Cap: 50M USD
Accepted Tokens: BTC & ETH
Project Protocol: ETH, ERC20
Pre-Ico Sale (5%): 0.03 USD (3 cents)
Number of Ico Rounds: 7/10% each
The Team
UTRUST is incorporated in Switzerland, with Engineering operations being based in Portugal, and having advisors and collaborators from all over the world, including US, China, Switzerland and UK.
Nuno Correia — CEO
Filipe Castro — CIO
Artur Goulão — CTO
Roberto Machado — CPO
Luís Zamith — Head of Engeneering
Laura Esteves — Head of Operations
João Ferreira — Head of Design
Nick Olender — Head of Sales
Miguel Palhas — Software Engineer