Kuverit (KUV)

Building a mainstream P2P guarantee and protection application to reduce fraud and protect consumers from financial loss.

Whitepaper

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What is Kuverit

The Kuverit P2P application will give anyone, anywhere the opportunity to have their transactions guaranteed, whilst also providing a new revenue model via a fully transparent fee structure. This guarantee system can be used in any situation in which the transaction between two parties relies upon trust or involves risk. Someone who is tending a service to a stranger, may use the application to demonstrate their professionalism and increase Trust.

The Kuverit P2P Application

Soon to be available on both iPhone and Android, the Kuverit P2P application will give anyone, anywhere the opportunity to have their transactions guaranteed, whilst also providing a new revenue model via a fully transparent fee structure.

For Clients

Clients will be able to request the backing of a Guarantor on the application by simply providing details concerning the nature of the contract and the amount of cover required. Kuverit will not facilitate the pairing of Clients to Guarantors, instead this request will go out into the open marketplace where Guarantors can do their own due diligence and decide if they want to back the client.

This guarantee system can be used in any situation in which the transaction between two parties relies upon trust. Someone who is tending a service to a stranger, for instance, may use the application to demonstrate their professional reputation or provide that extra level of reassurance needed to push a deal through.

To utilise a guarantor, a client must pay a fee set by the guarantor, 10% of which goes to Kuverit. The client has the right to refuse a guarantee and shop around for a better deal, however, if they agree to a guarantor’s proposal they must have the requisite number of tokens inside their wallet to pay the fee. If not, they will not be able to use the service. Importantly, guarantors will be able to judge the veracity and reputation of clients by checking their history. The first port of call will be their ‘baseline reputation score’