The UTRUST project is based on the creation of a new online payment platform, which facilitates transactions between a seller and the buyer of his physical product or service; as well as among investors and developers of initial currency offerings (ICO). These payments can be with criptomonedas or fiduciary currency, to act as an intermediary and providing better benefits than PayPal.
With this vision UTRUST, the startup installed in Switzerland with its development operations in Portugal seeks to solve the problem that exists with payments between the seller and buyer of goods or physical services with criptomonedas, either due to the lack of applications for it and the absence of agreements with traditional banking institutions and their instruments, as well as to solve the dilemma of buyers not having a robust system of consumer protection, with methods of repayment, not being able to adequately handle the finances of their businesses due to the volatility of the crypto active ones. This free cryptocurrency course will tell you more about the future of online payment and how crypto is going to play a huge part in that.
To do this, UTRUST seeks to implement its solution with a payment system where buyers can use their cryptoneses to buy goods and services, along with a scheme of consumer protection, acting as an intermediary as PayPal, and promoting an application that allows traders receive payments in fiduciary currency from crypto news, avoiding the volatility problems of the same.
The payment mechanism that they will offer with the development of their applications could be explained in the following steps: First, the buyer will be able to buy with any known criptomoneda with a low conversion rate or with UTRUST tokens, without commissions. These funds will then be converted immediately into fiduciary currency, to avoid price volatility effects. The system will then withhold the funds while the physical exchange takes place, releasing the funds to the seller after the change has been made successfully. Finally, the seller will receive payment in fiduciary currency, which he can use through his bank account or keep in his wallet, could even exchange that payment with another criptomoneda.
The project token (uTrust) is based on the Ethereum blockchain, with the ERC20 protocol, and has already been generated in its entirety. The distribution of the same has already started since August 25, which was sold to private investors and on the 28th of that month, a Pre-ICO was made, which together already raised $ 3.5 million and sold 15% of the generated tokens. 70% of the same will be distributed among the 7 rounds of ICO that will perform, wherein each one will be sold the 10% of created crypto active and when that amount is finished in each round, it will be passed to the next with a price higher than the previous. The rounds of its ICO begin this September 20, how to participate and more detailed information can get it on their website.