Yes, we love crypto. Yes, we love bitcoin and your favourite virtual currency. But, as you can see the volatility does not make any sense to make crypto be mainstream. Sometimes it is high, and the other day is cheap enough to rebuy. Imagine this, as a merchants that don’t want virtual currency as payment, they prefer to accept fiat currency. In the other side, you as buyer willing to pay with bitcoin or ether. That’s is the main problems today.
Until today, there are so many companies and startup jump onto this pool and fill the gap. But amongs them not many able to create the conversion mechanism, to convert virtual currency to fiat currency directly. By creating the mechanism, it will shape the mutual benefit between merchants and buyer. Merchant can avoid headache for sure.
We see UTRUST company seriously want to fix this problems. “UTRUST is a payment platform that empowers buyers providing a groundbreaking purchase protection mechanism. We set such a special method to convert virtual currency into fiat currency instantly,” UTRUST’s CEO, Nuno Correria told us via Telegram (23/08).
One of interesting feature in UTRUST is the dynamic holding period mechanism beetween. According to Emil and Alexander in their thesis about finance system, dynamic holding period, the result of including the switching threshold, is a more realistic way of building and rebalancing portfolios. For example, if a stock has performed well during the ranking period but whose price now is falling rapidly, traditional momentum trading would still keep the stock in the portfolio. With the dynamic holding period however, the stock would be excluded as soon as another stock has performed T percent age points better, which is likely to happen quickly if the fall is significant . Thus with a dynamic holding period stocks will be held in the portfolio for different lengths of time.
In the context of UTRUST Nuno explained briefly that dynamic holding period mechanism happen as the performance of the seller better (no disputes and claims) and many transactions the hold will decrease.
Other interesting offer if you use UTRUST is, there is no transaction fee if you use UTRUST token. Otherwise you will be charged if you are using fiat currency or another virtual currency at low rates.
UTRUST believes they can beat traditional payment systems that most of the times delay the approval of payments due to high risk of fraud, and require submission of countless documents. UTRUST approve payments immediately and make the process hassle-free for both parties (buyer & seller).
“Services such as PayPal are well known, and PayPal relies heavily on its buyer/seller protection plan. However, it only covers the purchase of physical goods. Bitpay does not cover any purchases, making the transaction irreversible and leaving you exposed to potential fraud. UTRUST extends consumer protection by covering both physical and virtual (if applicable) purchases. We will guarantee full coverage of all eligible payments made via UTRUST,” told Nuno.
Details of the ICO
Start (Pre-ICO): 28th August 2017, 4pm GMT
Project Protocol: ETH, ERC20
Token Supply: 1,000,000,000 (1 Billion)
Pre-ico Sale 5%: 0.03 USD (3 cents)
Maximum Crowdsale Cap: 50M USD
Number of ICO Rounds: 7/10% each
Accepted Tokens: BTC & ETH
ICO Round 1 – 7: September, 2017
Website – Whitepaper
(User UID: ICO Magazine)