Hi biggernugs,
First of all we would like to thank you for the interest in the UTRUST platform. Regarding your questions, we are indeed looking to raise $50 MM as stated. The ICO itself will start on September on a soon to announced day. Once we announce our full ICO details, you will be able to see the specific dates requested. In each ICO round we will sell 10% of total token pool. However, if we don't manage to sell all the available amount (we are absolutely confident we will), we will divide the remaining unsold tokens by the buyers of that round in a proportional way.
Regarding your mention that this is something that has been done, you are correct. PayPal does it for example. However, it's being done in traditional payment systems, not in crypto. Nowadays if you pay with cryptocurrency in the main platforms you are left in the dark in terms of consumer protection.
We fully believe in this project and that it fills a big gap in this market. There is no commercial use for cryptocurrencies without a 3rd party service mediator such as UTRUST. Traditional online payment systems rely on a consumer protection mechanism for mainstream adopt. The majority of people that pay with credit card/ PayPal/etc know that they can get the money back if their purchase is not fulfilled.
When it comes to crypto payments we (the cryptocurrency supporters) need a reliable service, a service that guarantees that both buyer and seller can do the transactions online with confidence.
Cryptocurrencies will grow to be huge and will most likely be adopted by Governments and banks.But unfortunately no one will buy anything online without a guarantee. This guarantee that people take for granted in traditional payments solutions is lacking in crypto payments. That's exactly why we exist.
Imagine a world where services such as PayPal, Visa, MasterCard don't protect consumers. Online purchase would be such a high risk that most wouldn't do it.
Remember that when you are buying online you don't know the other party. That's why we need a independent and reliable mediator that protects customers from fraud and provides sellers the ability to sell more with less risk (as trust from the customer base generates even more sales and crypto-payments are safer to sellers).
From our perspective, cryptocurrency use without a consumer protection is a pure speculation game that lacks value-generation and real purpose. Bitcoin was created and envisioned for the purpose of easy, cheap and reliable transactions. Decentralization is not opposite to safety, both must work in tandem.
If you wish to chat and exchange some more ideas and points of view, you can reach us out! Will be more than happy to talk with you regarding our fundamentals and vision.
1 billion tokens @ $0.03 per to start, then it raises each of the 7 rounds. Total it looks you're hoping to raise is just south of 50 million dollars, correct? I'm still reading but I'm not seeing much here other than something that's already being done. There's a roadmap with timeframes but no timetable on future ICO rounds? How long do the rounds last? Until they sell out? What if they don't?
