Bitcoin Press Release: To enable mainstream consumer adoption of cryptocurrencies, payments startup UTRUST will implement the world’s first cryptocurrency consumer protections into its platform: announces pre ICO on August 28, 2017.
UTRUST Brings Consumer Protections Fintech solutions company UTRUST is excited to announce plans to transform the cryptocurrency payments landscape. With an experienced team spanning corporate management, B2C startups, payments, blockchain development, law, finance, and more, UTRUST is confident it will deliver the payments platform of the future. More information about UTRUST’s vision and roadmap is available on the website and in the official whitepaper.
Cryptocurrencies have come a long way since the launch of Bitcoin in 2009. With fast transactions, low fees, and their trustless decentralized nature with no need for cumbersome legacy intermediaries, they have proven to be highly disruptive.
While the implementation of crypto-tokens and blockchain systems is exploding across industries worldwide, their adoption as an instrument of value transfer for day-to-day consumer transactions is still low. This is mainly due to the lack of payment protections and ease of use that consumers have come to expect and currently only enjoy with legacy payment solutions.
By offering built-in consumer protection features in the form of an escrow-like trusted mediator, crypto-to-fiat settlement to counter currency volatility for merchants, and multi-cryptocurrency support, UTRUST’s vision is to be the PayPal for the cryptocurrency sector.
UTRUST Brings Consumer Protections
UTRUST’s ultimate goal is to usher in the adoption of cryptocurrencies by the mainstream. This will be achieved by providing all the benefits of fast, secure, convenient, and inexpensive cryptocurrency transactions, in tandem with the world’s first cryptocurrency payment protections, which consumers need to fully embrace blockchain technology en masse.
Some more key advantages offered by the UTRUST platform will include; lower buyer purchase risk, payment approval speed, low exchange fees, low seller fees, support for multiple cryptocurrencies, safety of funds, no chargebacks, customer payment protection, efficient resolution of disputes, performance-based ratings for sellers, and a decentralized UTRUST token with its value linked to the platform’s projected growth.
As the company works on building out the payments platform of the future, it has announced the launch of a crowdsale. UTRUST’s Pre-ICO is scheduled to begin on August 28, 2017, at 1600 hours (GMT).
UTRUST Token and Crowdsale
UTRUST will raise the funds required to develop and launch its unprecedented crypto payments platform through the upcoming ICO. The Pre-ICO begins on August 28, 2017, with the public ICO starting on September 4, 2017. Funds collected will be utilized to establish key partnerships, and build out UTRUST’s PayPal-like platform for cryptocurrencies as outlined in the whitepaper.
During the crowdsale, participants will be able to purchase the native ERC20 compatible UTRUST tokens created on the Ethereum protocol. The UTRUST team have chosen Ethereum so they can leverage upon its existing infrastructure; development tools, wallets, exchanges and human resource expertise.
UTRUST’s token can be used for making zero fee payments to the thousands of merchants accepting any cryptocurrency via UTRUST, and be traded against other currencies on supported exchange platforms.
UTRUST token holders are rewarded for their encouragement and faith in the platform. The company has a mechanism in place allowing it to invest a portion of the transaction fees to buyback and burn UTRUST tokens, removing them from circulation.
This means that like Bitcoin, UTRUST tokens are deflationary by design: token supply will go down over time, and alongside the growing adoption of UTRUST, drive demand upwards, strengthening the token’s market value.
UTRUST is backed by a highly experienced team from various sectors including corporate management, startups, payments, cryptocurrency development, law, finance, and computer science. Some of the prominent members of the team include:
Nuno Correia, CEO
Nuno Correia is an early cryptocurrency investor who has been involved in the cryptomarkets since the beginning of 2011. Having founded multiple B2C businesses in the past, Correia has a background in Law and Marketing, and his passion lies in transforming the future of digital payments.
Filipe Castro, CIO
Filipe Castro holds a business degree from MSENG and is passionate about disruptive technologies. He has experience developing electronic payment systems and other software solutions during the early days of his career. Castro is engaged in business development and strategic development of new ventures.
Arthur Goulao, CTO
Arthur Goulao comes with previous experience in the payments industry. He has previously donned the role of a CTO in one of leading digital payment platform and is currently serving as the Head of Development at a Swiss-based Cybersecurity company. With a background in computer science from IST and MIT, Goulao is well-acquainted with both classical and blockchain smart contract based approach.
Roberto Machado, CPO
An entrepreneur, Roberto Machado has founded and played the role of a product manager at multiple startups. He has experience leading diverse teams to create highly-reliable software products. Machado’s past work experience includes positions in companies like AT&T, Betfair, Airtel and Uphold.
Other significant team members include Luis Ferreira as Head of Engineering; Laura Esteves as Head of Operations; Joao Ferreira as Head of Design; Nick Olender as Head of Sales and Partnerships; and Francisco Baila as Product Designer. UTRUST has a team of software engineers like Miguel Palhas, Gabriel Poca, Ronaldo Sousa, Fernando Mendes, Bruno Azevedo, Pedro Costa, and Joao Justo.
UTRUST’s diverse advisory team includes Francisco Maia, Francisco Cruz, Joao Paulo, Sergio Viana, Marc Howland, David Dryan, Daniel Pierce and Sascha Benz.
Learn more about UTRUST at – https://utrust.io
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