UTRUST

[stormcleric]

Thanx for this, didnt know about KYC. Did a little research and came upon this article https://www.trulioo.com/blog/bitcoin-regulation/ from june 2017
ITs about Bitcoin Regulation: Cryptocurrencies, AML/KYC and Compliance

Thanks! This article is a must-read, explaining current ICO / crypto situation and a forecast on market regulations.

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[kraterion]

anyone know utrust have plan to against money laundering like paypal?

What for? Then they do not need to accept payments in the crypto currency.

Money lundering it's easier by far with cryptocurrency and it's a problem. Mixers, anon coins, it's too easy

[levyashin]

anyone know utrust have plan to against money laundering like paypal?

What for? Then they do not need to accept payments in the crypto currency.

Money lundering it's easier by far with cryptocurrency and it's a problem. Mixers, anon coins, it's too easy

Yep, I don't think people would try to use utrust for money laundering, there are easier ways for it.

[gliridian]

Have you seen Sojourn? Sojourn has a quite similar idea as Utrust but they are more of a niche market than a general one. They cater to payments in the travel industry and hotel industry. So in my opinion, why do that if we have everything that we need to transact to in just one platform just like Utrust. You can use Utrust in everything, not only in the hospitality industry, but to everything. That’s the reason why I’ll be betting more on the success of Utrust.

[Mystic90]

I noticed that uTurst TOKEN SUPPLY
1,000,000,000 (1 Billion)
TOKEN PRICE
0.065 USD (6.5 cents)

So basicly they are validating their own project o n 1.000.000.000 x 0.065= 65 Million.
Should they not say like We sell 500.000.000 tokens at ICO, it will be split among the investors, basicly letting the market decide how much each token is worth?

No. They sold 150 mln tokens on pre-sale. 700 mlm tokens for sale. And rest (150 mln) for team, development, marketing etc.

Even if you take some tokens off that were sold at pre sale, so validation of uTrust is a bit lower. The point is, they are validating their own project and not let the market decide what
its worth (atleast during ICO)

[Elkmar]

anyone know utrust have plan to against money laundering like paypal?

What kind of plan does Paypal have against money laundering? I highly doubt it..
People will always find a way to do criminal activities, how is this the responsibility of Utrust?

I know a lot of cryptocurrencies owner that use paypal to not have any money going through their bank account, I don't think there is an anti-money laundering system.

[Sozialtourist]

I noticed that uTurst TOKEN SUPPLY
1,000,000,000 (1 Billion)
TOKEN PRICE
0.065 USD (6.5 cents)

So basicly they are validating their own project o n 1.000.000.000 x 0.065= 65 Million.
Should they not say like We sell 500.000.000 tokens at ICO, it will be split among the investors, basicly letting the market decide how much each token is worth?

No. They sold 150 mln tokens on pre-sale. 700 mlm tokens for sale. And rest (150 mln) for team, development, marketing etc.

Even if you take some tokens off that were sold at pre sale, so validation of uTrust is a bit lower. The point is, they are validating their own project and not let the market decide what
its worth (atleast during ICO)

I don't understand exactly what you mean. Every ICO has a fixed rate of tokens per ETH, in this case, its just a fixed fiat rate. Of course, they let the market decide what their project will be worth. This 65 Million you are talking about refers to a sold-out ICO. If they will not sell all tokens, there won't be 1.000.000.000 tokens because all unsold tokens will be burned.

[alphashotgun]

anyone know utrust have plan to against money laundering like paypal?

maybe they will use KYC against money laundering? this could be one of the possible scenarios.

what is the kyc?

KYC = know your customer. It's obligated in a lot of countries to know who are your customers.

thank you bit i should better google that term

[Trrrt]

Yes UTRUST will simplify the way we use our crypto money, not so much people send it into bank account, and UTRUST will allow us to pay on different platform with different crypto currencies. Its really a need for crypto users.

[toolucky98]

Yes, actually %90 of the questions in here is already answered in the whitepaper but you can't cure laziness

About the ico date, I don't think there will be another postponing.

If you have a community willing to help people always ask questions. People ask me all the time IRL for things they can google in 1 second

People are lazy, I also ask for things can I can search for meself.
UTRUST has a great community so we welcome all newcomers to this project by answering all questions

Its difficult for newcomers to browse through all these pages.

There are some newcomers who come and still not too interested in the project they went to. If we answer their questions, maybe we can make them interested and then they start doing research and reading whitepaper.

[the_donald]

Yes, actually %90 of the questions in here is already answered in the whitepaper but you can't cure laziness

About the ico date, I don't think there will be another postponing.

If you have a community willing to help people always ask questions. People ask me all the time IRL for things they can google in 1 second

People are lazy, I also ask for things can I can search for meself.
UTRUST has a great community so we welcome all newcomers to this project by answering all questions

Its difficult for newcomers to browse through all these pages.

There are some newcomers who come and still not too interested in the project they went to. If we answer their questions, maybe we can make them interested and then they start doing research and reading whitepaper.

what came first the chicken or the egg. should we answer questions for noobs or let them read the whitepaper? I think the latter might be better.

[levyashin]

Yes, actually %90 of the questions in here is already answered in the whitepaper but you can't cure laziness

About the ico date, I don't think there will be another postponing.

If you have a community willing to help people always ask questions. People ask me all the time IRL for things they can google in 1 second

People are lazy, I also ask for things can I can search for meself.
UTRUST has a great community so we welcome all newcomers to this project by answering all questions

Its difficult for newcomers to browse through all these pages.

There are some newcomers who come and still not too interested in the project they went to. If we answer their questions, maybe we can make them interested and then they start doing research and reading whitepaper.

what came first the chicken or the egg. should we answer questions for noobs or let them read the whitepaper? I think the latter might be better.

If i know the answer and like the project i always give answers. Maybe in return of my answer, the project gets some eth from that person.

[Kanoe_Yuuko]

i think UTRUST will allow us to pay on different platform with different crypto currencies. Its really a need for crypto users. if it come true ,will change real our life.

[bitcoinbulk]

Yes, actually %90 of the questions in here is already answered in the whitepaper but you can't cure laziness

About the ico date, I don't think there will be another postponing.

If you have a community willing to help people always ask questions. People ask me all the time IRL for things they can google in 1 second

People are lazy, I also ask for things can I can search for meself.
UTRUST has a great community so we welcome all newcomers to this project by answering all questions

Its difficult for newcomers to browse through all these pages.

There are some newcomers who come and still not too interested in the project they went to. If we answer their questions, maybe we can make them interested and then they start doing research and reading whitepaper.

what came first the chicken or the egg. should we answer questions for noobs or let them read the whitepaper? I think the latter might be better.

If i know the answer and like the project i always give answers. Maybe in return of my answer, the project gets some eth from that person.

Exactly, do you know what all of the good crypto projects have in common? A great community. If you want to help a coin/project succeed then we need to help each other. Yelling at someone to read the last 179 pages of a thread doesn't help at all.

[john yuan]

Yes, actually %90 of the questions in here is already answered in the whitepaper but you can't cure laziness

About the ico date, I don't think there will be another postponing.

If you have a community willing to help people always ask questions. People ask me all the time IRL for things they can google in 1 second

People are lazy, I also ask for things can I can search for meself.
UTRUST has a great community so we welcome all newcomers to this project by answering all questions

Its difficult for newcomers to browse through all these pages.

There are some newcomers who come and still not too interested in the project they went to. If we answer their questions, maybe we can make them interested and then they start doing research and reading whitepaper.

what came first the chicken or the egg. should we answer questions for noobs or let them read the whitepaper? I think the latter might be better.

If i know the answer and like the project i always give answers. Maybe in return of my answer, the project gets some eth from that person.

Exactly, do you know what all of the good crypto projects have in common? A great community. If you want to help a coin/project succeed then we need to help each other. Yelling at someone to read the last 179 pages of a thread doesn't help at all.

90 percent of the questions have been answered in the white paper
But not everyone understands English, like me I hate the picture version of the white paper.
Because the image version of the white paper Google translation does not come out!
So that I can not fully understand the whole of the project.

[cxrealdcx]

Yes, actually %90 of the questions in here is already answered in the whitepaper but you can't cure laziness

About the ico date, I don't think there will be another postponing.

If you have a community willing to help people always ask questions. People ask me all the time IRL for things they can google in 1 second

People are lazy, I also ask for things can I can search for meself.
UTRUST has a great community so we welcome all newcomers to this project by answering all questions

Its difficult for newcomers to browse through all these pages.

There are some newcomers who come and still not too interested in the project they went to. If we answer their questions, maybe we can make them interested and then they start doing research and reading whitepaper.

what came first the chicken or the egg. should we answer questions for noobs or let them read the whitepaper? I think the latter might be better.

If i know the answer and like the project i always give answers. Maybe in return of my answer, the project gets some eth from that person.

Exactly, do you know what all of the good crypto projects have in common? A great community. If you want to help a coin/project succeed then we need to help each other. Yelling at someone to read the last 179 pages of a thread doesn't help at all.

90 percent of the questions have been answered in the white paper
But not everyone understands English, like me I hate the picture version of the white paper.
Because the image version of the white paper Google translation does not come out!
So that I can not fully understand the whole of the project.

Exactly true. Potential new customers should be treat very good and i also admit to you, that the whitepaper could be a little be more structured and easier to understand.

[URCRYPTOKNIGHT]

10 more days to go for the UTRUST crowdsale , hope we can finish the ico early so UTRUST can proceed with the next developments for UTRUST.

[cxrealdcx]

10 more days to go for the UTRUST crowdsale , hope we can finish the ico early so UTRUST can proceed with the next developments for UTRUST.

If you look at the events so far, it will finished soon for shure.

[cantdecide]

How do you escrow goods which cannot be validated?

That Ethereum address containing UTRUST tokens was a good example.

The seller and buyer cannot trust the escrow with both the private key and the public address. The escrow cannot check whether the private key unlocks the public address.

Do not complicate things   Try to read the whitepaper and you will be enlightened.

"Enlighten me then"  But seriously read white paper and you will know everything that you should know

Alice sells the private key of her Ethereum wallet to Bob. Bob pays through UTRUST. Alice is notified that the money is in escrow and sends the private key to Bob. Bob claims the key does not work. Alice opens a dispute.

Tell me how the UTRUST Mediator resolves this transaction.

Good question I haven't thought so much about. But you are right, a situation like this can hardly be solved probably. But maybe if Alice gives the private key to the mediator? Something someone would probably never would like to do...

But there are probably other situations where stuff could happen. If someone claims that a good has not arrived, when you can't track the package. When I sold some stuff on ebay a lot of people wanted to go for the cheapest sending option, which is not trackable. So if something happens you can't check for example.

There's always the option to only send your package with tracking ID. As a seller, this is your extra layer of protection, against possible scammers.

What's wrong with the post office services here in Australia, they wont take the responsibility for damaged or missing parcel. They want you to purchase extra insurance. Why am I paying for the service in the first place then?!

Utrust will have to go through some difficult disputes, it is un avoidable. All they can do is provide the best customer service possible when dealing with them

Yes, that's something I think now too. UTrust has to give a really good customer service, to handle such problems.

Sure, you can send stuff with a trackable parcel, but then you sometimes pay as much as the goods itself or at least too much in relation to the value of the goods. So people don't want to take this option sometimes. Also in Germany for example you need to bring in proof that it's for example the fault of the sending service that something broke etc. It's really a hard thing.

[Sozialtourist]

90 percent of the questions have been answered in the white paper
But not everyone understands English, like me I hate the picture version of the white paper.
Because the image version of the white paper Google translation does not come out!
So that I can not fully understand the whole of the project.

They already have translations of the whitepaper in more languages than just english available on their website. Maybe your mother tongue is one of them.