just copy faste from ANN thread
(excerpt)
Project: WeTrust
The main tagline from the website is:A platform for Trusted Lending Circles, powered by people and blockchain.
The slightly longer explanation from the whitepaper is:WeTrust is a collaborative savings, lending and insurance platform that is autonomous, agnostic, frictionless, and decentralized. WeTrust utilizes the Ethereum blockchain to create a full-stack alternative financial system that leverages existing social capital and trust networks, eliminating the need for a “trusted third party”, allowing for lower fees, improved incentive structures, decentralized risks, allowing a greater amount of capital to reside among the participants, and ultimately improving financial inclusion on a global scale.
Personally I find the concept very interesting. The goal is to build a platform with increasingly complex alternative financial and insurance products. The first product being developed is an application for Trusted Lending Circles (aka Rotating and Saving Credit Association/ROSCA).
They have a website at
www.wetrust.io, a blog at
medium.com/wetrust-blog and there is a proof-of-concept available on
rosca.wetrust.io. To hear the Founder's talk more about the project in their own words, watch the
CoinFund's Hangout or listen to the
Blockchannel's podcast with them.