UTRUST UTK

$0.0360
Market Cap $ 16.209 MM (#248)
24h Volume $ 141.161 K
Chg. 24h: -0.84%
Algo. score 3.0/5  (#515)
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UTRUST project purpose and description

UTRUST clarity of purpose

UTRUST purpose and aspects

Utrust is a blockchain-based platform that combines elements from traditional payment systems with the advantages provided by cryptocurrencies. The platform allows users to buy items, digital or physical, with their favorite cryptocurrency or token while providing a consumer-protection system in which coins are held in escrow until the transaction is fully complete. In case of a conflict, the resolution is handled by Utrust.

UTRUST additional differentiation against competition

The Utrust platform features its own Ethereum-based token, the UTK. The token provides multiple advantages, including a zero-fee system within the Utrust platform, which means that payments made with the UTK are free of charge. The token also runs on a buy-back & burn program in which part of the revenue generated by Utrust is allocated to the purchase of tokens that are then publicly destroyed, creating a deflationary currency.

UTRUST categories

Payments service providerPlatform

Short description

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.

Abstract

UTRUST started from a simple idea, born from a tale of personal hands-on frustration using current offerings in crypto-payment systems and our desire to build a better platform. After condensing the original concept into a pitch presentation, we relentlessly reached out to interested partners and organically built our team. Along this journey, we found great partners and mentors who were strongly committed and excited to work with the ever-progressing vision of UTRUST, while aiding in the refinement of our proposal for the market. Now as we drive towards the ICO stage, we thank everyone that supported us and hope to surpass the expectations set forth by the community in the future.

Link to Roadmap: https://utrust.com/#roadmap
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