UTRUST logo
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UTRUST (UTK)

ICO

UTRUST (UTK) is a payment platform providing a purchase protection mechanism for buyers.

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Overview

Project industryFinance Services & Banking
Product typePlatform
FoundedSwitzerland
Genesis date2017-12-28

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What is UTRUST

UTRUST is a revolutionary payment platform that enables buyers to use their favorite cryptocurrency in order to pay sellers (private or merchants). We provide sellers with the safety and convenience of receiving funds in fiat currency, and offer the best consumer-protection to buyers, by acting as trusted mediators. We combine the best payment protection features of current generation fiat systems with the innovative features of blockchain while blending in the unique features provided by our own token.

The UTRUST Platform aims to provide the consumer protection that buyers take for granted in traditional online purchases, acting as a mediator, resolving conflicts and enabling the possibility of refunds to mitigate fraud, while shielding the merchant from crypto-market volatility. We want to build upon the best features of cryptocurrencies to enable fast transactions, lower fees and low cross-border transaction friction, enabling merchants to sell to a growing worldwide audience of crypto-holders. In summation, we aim to build a payment API for marketplace integration that will become the crypto-contender to PayPal.

All aforementioned features we intend to integrate would make for an incredible product in its own right, the first of its kind in the world of crypto-payments and one that could be funded by venture capital investment alone. We decided to go a step beyond creating an innovative idea and product, by offering the chance for anyone in the world to become a supporter, leveraging the power of an Initial Coin Offering (ICO) and issue our own UTRUST token (UTK) alongside the UTRUST Platform. In essence, the token will act as a contribution stake from our supporters, as a transactional token, that buyers can use in the UTRUST Platform itself alongside other major coins, and as a financial mechanism linking the UTRUST token value to the UTRUST Platform value - our strategic value-coupling mechanism.

This is an ambitious endeavor intended to build a comprehensive software platform from the ground-up, while bringing tangible value to our supporters, in the form of token appreciation, and to the community of buyers and sellers, driving its future growth in the form of platform transactions. We believe cryptocurrencies are evolving to become much more than speculation and are here to stay in the minds and wallets of consumers. This is a game-changer that we know can change how merchants and buyers use cryptocurrencies and we believe that the only missing link is a platform of mediation and trust. The UTRUST platform.

VISION

We believe that one of the key roles of cryptocurrencies in the digital age is to facilitate transactions and serve as a frictionless and secure payment method with broad acceptance. We believe current payment platforms are lacking the necessary features to drive broad merchant and user adoption. Digital tokens are more than an asset for financial speculation and ICOs can be leveraged to fund agile teams with the drive to build new platforms; platforms with real value, driven by growth in the transactions of goods and services, and financially sustained by a revenue from fair fees.

PROBLEM

Despite the industrial disruption and technological advances that blockchain provides, one area that is still largely untapped is digital payments between buyers and sellers of physical services. Digital payment systems have been a holdout of larger industry incumbents, with more legacy APIs and agreements with traditional financial institutions, banks and credit cards. Despite the advantages of crypto payments, such as ultra-low fees, speed and low barrier of entry, clear and developed advancement in transactional security has yet to be implemented to the market. Buyers desire and have come to expect a robust consumer protection system that protects their purchases and provides refunds. Sellers on the other hand would love to earn more revenue but are cautious of the volatility issues associated with accepting cryptocurrencies. Wouldn’t it be amazing if we could have the best of both worlds? This is a mutual trust dilemma we aim to solve with the UTRUST Platform.

SOLUTION

Our aim is to build a next-generation payment gateway allowing buyers to use their favorite cryptocurrency to buy goods and services with confidence from merchants, incorporating a robust PayPal-like consumer protection and dispute resolution scheme. We aim to drive adoption of the API by merchants by providing them a way to receive fiat currency directly from cryptocurrency buyers, shielding the merchant from market volatility and decreasing the risk of accepting cryptocurrency.

Details

Pre-sales: Aug 28, 2017 - Aug 28, 2017
Public sales: Nov 02, 2017 - Nov 20, 2017
Token supply: 1,000,000,000 UTK
Total tokens for sale: 500,000,000 UTK
Hard cap: 21,000,000 USD
Raised: 20,000,000 USD

Legal

Blockchain Platform: Ethereum
Registration country: Switzerland

Token info

Ticker: UTK
Type: Utility-token
Token standard: ERC20
Token price in USD: 1 UTK= 0.065 USD
Accepted currencies: ETH, BTC
Token distribution:
10% Team
20% Private investors
5% Pre-ICO
55% ICO
5% Bounty

UTRUST Roadmap

1
28th Aug 2017

Pre-ICO Opens

2
Sep 2017

ICO Opens

3
Q2 2018

Platform Test API for Merchants
- Integrate with merchant checkout mechanisms
- Test mediated chat mode

4
Q3 2018

Client API, Wallet Web App
- Check your balance & transactions
- Integration with major eCommerce platforms

5
Q4 2018

Native apps iOS, Android
- 200+ Merchants
- Live Transactions

6
Q1 2019

Platform Refinements & Expansion
- 1000+ Merchants
- Progressive hiring of mediators

Project team

Nuno Correia
Nuno Correia
CEO
Nuno Correia linkedin
Filipe Castro
Filipe Castro
CIO
Filipe Castro linkedin
Artur Goulão
Artur Goulão
CTO
Artur Goulão linkedin
Roberto Machado
Roberto Machado
CPO
Roberto Machado linkedin
João Gil Figueira
João Gil Figueira
CLO
João Gil Figueira linkedin
Gil Monteiro
Gil Monteiro
CFO
Gil Monteiro linkedin
Rodrigo Russell
Rodrigo Russell
COO
Rodrigo Russell linkedin
Miguel Amador
Miguel Amador
Head of Operations
Miguel Amador linkedin
Julia Vilaça
Julia Vilaça
Head of Marketing
Julia Vilaça linkedin
João Ferreira
João Ferreira
Head of Design
João Ferreira linkedin
Luís Ferreira
Luís Ferreira
Head of Development
Luís Ferreira linkedin
Rita Vilaça
Rita Vilaça
Head of Customer Happiness
Rita Vilaça linkedin
Bruno Azevedo
Bruno Azevedo
Software Developer
Bruno Azevedo linkedin
Daniel Coelho
Daniel Coelho
Software Developer
Daniel Coelho linkedin
Fernando Mendes
Fernando Mendes
Software Developer
Fernando Mendes linkedin
Francisco Baila
Francisco Baila
Product Designer
Francisco Baila linkedin
Gabriel Poça
Gabriel Poça
Software Developer
Gabriel Poça linkedin
Joana Gomes
Joana Gomes
Product Designer
Joana Gomes linkedin
Jorge Rebelo
Jorge Rebelo
Community Manager
Jorge Rebelo linkedin
Laura Esteves
Laura Esteves
Product Manager
Laura Esteves linkedin
Miguel Palhas
Miguel Palhas
Software Developer
Miguel Palhas linkedin
Pedro Costa
Pedro Costa
Software Developer
Pedro Costa linkedin
Ronaldo Sousa
Ronaldo Sousa
Software Developer
Ronaldo Sousa linkedin

Advisors

Arthur Zubkoff
Arthur Zubkoff
Marketing Consultant
Arthur Zubkoff linkedin
José Nuno Pinto
José Nuno Pinto
DPO
Robin Ebers
Robin Ebers
Blockchain Consultant
Robin Ebers linkedin
João Gil Figueira
João Gil Figueira
Legal Advisor
João Gil Figueira linkedin
Sydney Lai
Sydney Lai
Advisor
Sydney Lai linkedin

Social media

UTRUST web-siteUTRUST RedditUTRUST MediumUTRUSTYouTubeUTRUST TelegramUTRUST BTCTalkUTRUST TwitterUTRUST FacebookUTRUST Slack

User rating:

5/5 ( 1 )
0

UTRUST rating

8.3
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