Interview with Nuno Correia from Utrust
Sep 06, 2017 Posted / 2069 Views
Q1. Hello Nuno, thank you for your time. To start the conversation, can you explain to us in a few words, What is UTRUST?
UTRUST is a ground-breaking payment platform that empowers buyers to pay with their favorite cryptocurrencies while providing the best consumer protection in the market.
Q2. You say UTRUST is the future of online payments, can you comment more on this? How are you different from Bitpay?
UTRUST processes more than just bitcoin we aim to support the top crypto currencies, bitcoin only represents 40% of the marketcap so Bitpay is ignoring 60% of the market, we aim to take care of that. One of the reasons most merchants and traditional consumers don’t pay with crypto is because the fraud is too high, you never know if you will receive what you purchased. Adding a protection mechanism to the equation will bring trust to the crypto system and of course more people will start paying with it.
UTRUST’s ultimate goal is to usher in the adoption of cryptocurrencies by the mainstream.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.
Q3. Can you tell us your vision for the next 3 years with respect to the project?
We aim to be leading crypto-payments platform in transactional volume and diversity of coins accepted.
Q4. Can you brief us about your core team?
UTRUST is culmination of efforts from a highly experienced team. One of our main concerns when creating our team was that it should have seasoned members spanning from corporate management, finance, B2C startups, payments, blockchain development, law, finance, and more, UTRUST is confident it will deliver the payments platform of the future.
Q5. Why are you doing an ICO?
We are doing an ICO in order to leverage our platform development. This way, we can obtain the necessary initial support for MVP and marketing from the crowdsale instead of risking equity dilution like in more traditional venture routes.
Q6. As the platform grows in size, the token will grow synergistically in value. Can you comment on this?
Unlike 99% of other ICOs and tokens, the UTRUST tokens are leveraged by its own platform.
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 unlike 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.
Q7. What is the timeline of the project?
The timeline of the ICO component is from 20th of September till 30th October. The timeline of the platform development and release is from Q4 2017 till Q2 2018 for the first release. For more operational details, please consult the latest up-to-date information on our whitepaper.
Q8. What are the benefits for the early investors?
During our ICO we will have prices per round that will increase between them, from $0.04 to $0.085, so the early investor can get our tokens for a reduced price on the first rounds. One of the main advantages of this being connected with the business model is that with time they will increase in value.
Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .
Hottest Blockchain Newsletter
For updates and exclusive offers, enter your e-mail below.