UTRUST

[azmojo]

I have a problem being offered for the first $10k of contribution. What's to stop someone who is contributing $100k from making 10 x $10k contributions from multiple addresses?

I appreciate the sentiment but let's be smarter about this.

How about a whitelist, screened for Sybill attacks, with $10k max contribution for Round 1? Then a Round 2 unlimited for the rest at a higher price?

[magisterr]

OMG was looking for something like this for some time now! always had problems with fiat deposits and withdrawals will follow this project closely !
P.s nice introduction video

When ICO will be start?
On first page: 21 September
On their site: TBA on the first week of October

So.. When?

I think the presale is on 21 and ico on october

No, look at first page. pre-sale finished already.
Pre-ICo was 20 August and now "sold out"

[taibas]

OMG was looking for something like this for some time now! always had problems with fiat deposits and withdrawals will follow this project closely !
P.s nice introduction video

When ICO will be start?
On first page: 21 September
On their site: TBA on the first week of October

So.. When?

I think the presale is on 21 and ico on october

No, look at first page. pre-sale finished already.
Pre-ICo was 20 August and now "sold out"

Pre ICO was completed one month ago, they have delayed their ICO for no apparent reason.
Why in thread say september and on website say october?
you should see detailed information on the website, because because this thread has not been updated

[pynetx]

So, conversion support whole world's currencies or just the major ones like USD and Euro?

[Voltaje]

Charming whitepaper, it makes us imagine a project that will really solve the current problems with payments, and will provide once and for all this integration that will surely leverage Crypto even more, this is not only a project, it is the beginning of an evolution and a gigantic progress. I wish good luck to the Dev's and Congratulations on the initiative. Following

That is the good part about utrust, offering protection to sellers and buyers, other platforms don't bother with that, because is the blockchain, each one is responsible for their own security, so people get scammed, but utrust tackle the problems about security and protection and included a refund feature and as a mediator between two transactions, usually banks and insurance companies did this, but for a fee, utrust don't have fees for that, it's all one simple fee that covers everything, protection, conversion, transaction, etc. at least to my acknowledge.

[magisterr]

They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?

[levyashin]

I'm sorry if it is already asked, but i just saw the video about utrust, "when making a transaction very little amount of utrust will be burned"

So regardless how little it is, in longterm if utrust gets mainstream that will make market run short of utrust tokens?

If anyone make a transection utrust will charge the merchant 1% fee which is way cheaper than pay pal or any other crypto payment platform. From that they will remove 20% (.2% of the total transection amount) fee to buy back the tokens from the token holders to burn it. They will burn about 50 million tokens every year which will eventually reduce the supply of the of the utrust tokens. Reduce in supply will result to the increase in token value. Which means who ever will be holding this tokens for a long term  will get a huge profit from it.   

If it will burn 50 million tokens every year in 20 years there won't be any token to burn.

Approximately is it maybe %5 of tokens of the total supply of that year? Like that first year 50.000.000 second year 47.500.000 third year 45.125.000. If that's the issue, it's very logical and really lucrative for investors.

They mentioned the burning of 50 million tokens will be done until there are 100 million tokens left. Total token supply will be 1 billion to start with (if i'm not mistaken). So that is the second strong incentive i've seen to increase value for the token. First one is that transactions with the utrust token will have 0% fee (so creating demand for the token).

So if the utrusts market cap stays the same, your token will be 10 times worth in 18 years.  It's a nice push and a good way to protect investors.

[pynetx]

They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?

Not full amount but, the 15% which was reserved for the Private Investors and Pre-ICO.
The exact date is not yet finalized but it is expected to start in the first week of October.

[the_donald]

They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?

Not full amount but, the 15% which was reserved for the Private Investors and Pre-ICO.
The exact date is not yet finalized but it is expected to start in the first week of October.

It's good that they've secured some funding via private investors, but I was hoping it was all gonna be open to the public.

[Korsakopf]

I would like to know what efforts UTRUST is doing to assure adoption by sellers, and what type of sellers/businesses are they targeting? Adoption is key here.

[niklasmato]

I've read on the website that the API will open at Q218.
Is there a way to reserve a spot on the beta list?

[Trrrt]

Its really nice that 15% of token are already bought by big investors. UTRUST team now have some funds to start to build the project and promotion. And it show to the market that there is big investors in the project, its another prooof of the serious of the project.

[ubercool]

Its really nice that 15% of token are already bought by big investors. UTRUST team now have some funds to start to build the project and promotion. And it show to the market that there is big investors in the project, its another prooof of the serious of the project.

The marketing campaign is going nicely on social media and the tagline are really catchy with mentioning Paypal etc. I think they will reach the hard cap and will keep an eye on it as the ICO is running. The comparison between Utrust, Paypal and Bitpay is really good and easy to understand for newbies.

[Kakumei]

Dear Community,

Kakumai here, official community manager, ready to answer your questions.

I've read on the website that the API will open at Q218.
Is there a way to reserve a spot on the beta list?

We do not have a whitelist, but the Early Supporter Reward is only paid up to $10,000. Everything beyond is charged at 6.5 cents. So UTRUST is not particularly interesting to "coin flippers".

If it will burn 50 million tokens every year in 20 years there won't be any token to burn.

There will always be a minimum of 100 million tokens. If this threshold is reached, we stop burning.

Wow, basically you're going to compete with paypal here or at least be the "paypal of crypto" , you have already in mind any partnership?

We have a marketing strategy in place which will be announced at a later stage. I can assure you, all very exciting.

If it's true that this product is better than paypal and bitpay than it will be huge. My biggest problem with paypal are the high transaction costs.

Not sure about PayPal since they're handling fiat. Pretty sure UTRUST is a more sophisticated solution than BitPay though!

But if you see it real, you still have more fees in addition to the 1% or? Buyer and seller need to deal also with transaction costs of the crypto, or do I see it wrong?

You would likely be correct. I will clarify this for you and post it here in the next update, but the network fee is probably still to be paid by the users themselves. Given that this will become cheaper and cheaper (IOTA is free, Litecoin will soon be too, etc), this should only add insignificant overhead.

Payment is irreversible, I would like to ask me after the purchase of goods is not satisfied with how to refund？

Escrow, provided by UTRUST.

This is explained very well in the whitepaper.

You want to create merchant like paypal?
What about mobile payment?

Not sure about a mobile merchant, but user-to-user payments are definitely planned.

UTRUST will be focused on merchants, but will also have peer-to-peer functionality for you to e.g. send funds to a friend.

I don't think they've announced that yet, but it would be foolish not to have it. everybody uses mobile for all sorts of transactions these days.

Mobile apps come in Q4 2018!

I've read about developers whose software is being bought with stolen credit cards. The buyer gets the software for free, but the kicker is when the payment processor finds out the card is stolen, it charges the software developer! So the developer doesn't only have his software stolen, which will then probably end up on the internet as a free download, but the developer also has to pay the credit card company on top of it.

Can Utrust solve that problem?

I'm honestly not quite sure this applies here since credit cards have chargebacks and crypto does not. UTRUST will not protect users from fraudulent activities on their side, but only from fraudulent sellers. If you lose your private keys, this is still your responsibility.

Own token is ERC20, right? How come that it doesn't charge fees? Are they paid by UTRUST itself? If no, enlight me please

Yes, it's an ERC-20 token. What do you mean by no fees - when making a purchase with UTRUST tokens?

Is there any competitive benchmark with other crypto solutions (not the fiat benchmark)?

There aren't many really at this point. Monetha does something remotely similar but limited to the token economy (ERC-20 token cryptocurrencies only). BitPay accepts Bitcoin only. It will take some time for this space and UTRUST positions itself in an industry that is definitely still in its infancy.

So, conversion support whole world's currencies or just the major ones like USD and Euro?

We will be launching with USD, EUR and GBP. Added more along the way.

They raised full amount on pre-ico? (as in the announcement - 1.5 mln usd). For which period they raised this amount?
And when ll be start ICO? Can anyone give me exact date?

We raised the full pre-ICO amount (50 million tokens at 3 cents) in 90 minutes and the ICO will be announced in the first week of October.

As always, I hope that my answer helped.

Thank you!

[Departure]

On the first page of this topic it is written that sales started yesterday. Is this really so?
The official website says that sales will begin on the first week of October?

[Jay2408]

Maybe it's been asked before, but is there already a demo version available?

[seejack]

What's the status of the coin at the moment? Is it in the trading platform or in the chips?

[levyashin]

What's the status of the coin at the moment? Is it in the trading platform or in the chips?

It was sold out in pre-ico, now we are waiting for ico phase. Ico's date is not clear yet, they will announce it at 1st week of october. So if you interested like us, wait for it

[pynetx]

Maybe it's been asked before, but is there already a demo version available?

No there's not any demo as of now. Maybe in future perhaps next year.

[onesalt]

Its really nice that 15% of token are already bought by big investors. UTRUST team now have some funds to start to build the project and promotion. And it show to the market that there is big investors in the project, its another prooof of the serious of the project.

If big investors are involved, then I should be involved too  Bright project!