UTRUST

[bitsurfer2014]

Utrust already raised 3.5 million on its presale. That's a good news

That huge amount of $3.5 million only shows that the investors definitely trust their money to UTRUST ability to succeed.

[mike0182]

Utrust already raised 3.5 million on its presale. That's a good news

Yes, at a time when utrust was not even known to masses. Guess what will; happen when ICO happen and word is already out.

3.5 million on presale is good. but anyone knows softcap and hardcap of this project. can't find anything say about this in FAQ

Their website says: MAXIMUM CROWDSALE CAP 49M USD but but about softcap I find it difficult to answer...

[Buerra]

I think there is too many coins name under trust. And it makes misunderstanding I was thinking this is the trust which is on bittrex as TRST.

Do you mean wetrust? I dont know if theres a connection but names.. But this is different platform

There is already 2 trust coins at bittrex. Trust and trst. couple months ago by mistaken I bought trust instead of trst. This one will be 3rd trust if team will achieved to list on bittrex

[Kakumei]

Their website says: MAXIMUM CROWDSALE CAP 49M USD but but about softcap I find it difficult to answer...

What is your definition of a soft cap?

Hello again sorry that I am a little bit annoying today. But I don't fully understand. WP page 18 last paragraph about refunds? So if buyer will be refunded the fees will go to 2 % it's correct?

Thanks in advance

So the buyer loses its 2 % even is not his/her foult 

Only if a mediator is needed. If e.g. the seller admits they made a mistake you will receive 100% of your funds back (in fiat). Should the case require a mediator, there will be an additional 2% (on top of the 1%) that will be deducted from the refund (in fiat).

3.5 million raised during the pre-sale and aiming for 45 million more during the token sale? Those are high numbers but those kind of results are happening on almost a daily basis now. Money is flying around here like it's going out of style!

All of our funds are actually already allocated and having a large team (including 15 engineers) costs real money, particularly if you are planning on paying them for several years to get your product out of the door.

Have these questions regarding the banking licenses been answered? I think they were buried beneath the red color posts a few days ago.

According to the UTRUST whitepaper 12% of the funds will be allocated to legal and regulation. Does that include global banking licenses?

When we take a look at PayPal, their status differs per region. In Europe PayPal is legally regulated as a bank, in the US it is a money transmitter. This subject is not trivial.

https://en.wikipedia.org/wiki/PayPal#Regulation

Good question. Operating globally means dealing with a lot of different laws which can cost a lot of money. Will there be focus on specific regions on the start?

This is a very interesting question and we will release more information on this within the next week as well. It is probably going to be more than 12%, I can tell you that. I can leave you with the knowledge that our legal team in Switzerland is very high profile and knows what is required to give UTRUST the legal foundations required. 👍

[levyashin]

Their website says: MAXIMUM CROWDSALE CAP 49M USD but but about softcap I find it difficult to answer...

What is your definition of a soft cap?

It's the minimum funding to make the project run. In a bad case, it doesn't get to 49m USD, what is the minimum requirement for utrust.

And it's something I like to know too.

[magisterr]

What is your definition of a soft cap?

Soft cap - this is the minimum raised funds for launch project.
But I think, you already raised this funds on Pre-Ico?  

[Makka]

According to the UTRUST whitepaper 12% of the funds will be allocated to legal and regulation. Does that include global banking licenses?

When we take a look at PayPal, their status differs per region. In Europe PayPal is legally regulated as a bank, in the US it is a money transmitter. This subject is not trivial.

https://en.wikipedia.org/wiki/PayPal#Regulation

Good question. Operating globally means dealing with a lot of different laws which can cost a lot of money. Will there be focus on specific regions on the start?

Indeed, this concern is not a simple matter. When it comes to the legal side of the project, it should be treated with utmost importance because it might cause the entire project to get banned in a certain country. UTRUST legal team better be ready for this because legalities are foundations of any project. I believe they are well-equipped with what is needed though.

[pynetx]

Utrust already raised 3.5 million on its presale. That's a good news

Yes, at a time when utrust was not even known to masses. Guess what will; happen when ICO happen and word is already out.

I think Utrust was known during pre-sale, or at least I think so, a saw some news and ads from utrust during its pre-ico, but if that is not the case, then utrust needs more attention, it already had a successful pre-sale, now lets see how successful the ICO is, its a project that needs to succeed, we need utrust platform in the crypto world.

Maybe to some that's why people invested in it  
I was saying like not known to masses like other big projects. I didn't know it that time.

[FIEX]

Utrust already raised 3.5 million on its presale. That's a good news

really? 3.5 million for just presale. very good start for this project. I will wait next waves

if you missed the sales before you should wait for the first week of October and they will announce the crowdsale sooon but be sure to be on and participate on first hours, even they will release 700millions token that day it is not sure if it will last for a day! iit might be sold out with an out.

Presale went great! Really good for the project and it means investors trust this project.
Very curious how the crowdsale will go and I'm sure it will be great.

This project will be so much better then the competition

[cxrealdcx]

Utrust already raised 3.5 million on its presale. That's a good news

really? 3.5 million for just presale. very good start for this project. I will wait next waves

if you missed the sales before you should wait for the first week of October and they will announce the crowdsale sooon but be sure to be on and participate on first hours, even they will release 700millions token that day it is not sure if it will last for a day! iit might be sold out with an out.

Presale went great! Really good for the project and it means investors trust this project.
Very curious how the crowdsale will go and I'm sure it will be great.

This project will be so much better then the competition

Tezos $206 million, Bancor $153 million

If you compare Utrust with them, of course it went great. The 50 million are not that big of a deal

[Risktaker31]

Yes if a compagnies or a site will accept UTRUST as a payment solution the value of the project will skyrocket. And remember taht UTRUST has great argument to get accepted by a lot of site. I really have big hope for the future !

It really does have a big potential ! It'll be a solution to the cryptocurrency  trading with its fast converstion cryptocurrency to fiat. So that the seller wont be afraid selling his/her product through cryptocurrnecy because when the payment was done Utrust will convert the crypto into fiat so that the seller get it as fiat.

[matjas]

Yes if a compagnies or a site will accept UTRUST as a payment solution the value of the project will skyrocket. And remember taht UTRUST has great argument to get accepted by a lot of site. I really have big hope for the future !

It really does have a big potential ! It'll be a solution to the cryptocurrency  trading with its fast converstion cryptocurrency to fiat. So that the seller wont be afraid selling his/her product through cryptocurrnecy because when the payment was done Utrust will convert the crypto into fiat so that the seller get it as fiat.

We all sense the potential in Utrust and if any e-commerce platform integrates it, it will add value to their site so i dont see a reason why they wouldnt do it. They just need a little push by Utrust marketing team.

[xx63245613]

So many similar themes of the currency of payment, what is the special place UTTRUST

[mike0182]

Their website says: MAXIMUM CROWDSALE CAP 49M USD but but about softcap I find it difficult to answer...

What is your definition of a soft cap?

Soft cap - implies the minimum raised funds for launch project. I think that $3,5 million which the project has collected at an early stage, it will be quite enough, but I did not find the exact information on the site, so I answered the person to his question.

3.5 million on presale is good. but anyone knows softcap and hardcap of this project. can't find anything say about this in FAQ

[cxrealdcx]

Yes if a compagnies or a site will accept UTRUST as a payment solution the value of the project will skyrocket. And remember taht UTRUST has great argument to get accepted by a lot of site. I really have big hope for the future !

It really does have a big potential ! It'll be a solution to the cryptocurrency  trading with its fast converstion cryptocurrency to fiat. So that the seller wont be afraid selling his/her product through cryptocurrnecy because when the payment was done Utrust will convert the crypto into fiat so that the seller get it as fiat.

We all sense the potential in Utrust and if any e-commerce platform integrates it, it will add value to their site so i dont see a reason why they wouldnt do it. They just need a little push by Utrust marketing team.

But exactly this should happen faster in my opinion!!

[niklasmato]

Hello again sorry that I am a little bit annoying today. But I don't fully understand. WP page 18 last paragraph about refunds? So if buyer will be refunded the fees will go to 2 % it's correct?

The way I read it, there will be an additional fee of 2% on top of any other fees. I think that 2% fee is used to (partly) cover the cost of the UTRUST operator.

So the buyer loses its 2 % even is not his/her foult 

Yep. That is how it is described in the illustration. The buyer pays 2% resolution escalation fee regardless of whose fault it was. I suspect that is because the smart contract is designed like that it takes a portion of the escrowed money. The seller did not put any money in escrow, so there is no money to take a fee from.

It's not really fair towards the buyer but I do understand why Utrust needs to do this. Besides I've read in the Whitepaper that the seller will get some punishment as well. So it's kinda fair.

[Sozialtourist]

Hello again sorry that I am a little bit annoying today. But I don't fully understand. WP page 18 last paragraph about refunds? So if buyer will be refunded the fees will go to 2 % it's correct?

The way I read it, there will be an additional fee of 2% on top of any other fees. I think that 2% fee is used to (partly) cover the cost of the UTRUST operator.

So the buyer loses its 2 % even is not his/her foult  

Yep. That is how it is described in the illustration. The buyer pays 2% resolution escalation fee regardless of whose fault it was. I suspect that is because the smart contract is designed like that it takes a portion of the escrowed money. The seller did not put any money in escrow, so there is no money to take a fee from.

It's not really fair towards the buyer but I do understand why Utrust needs to do this. Besides I've read in the Whitepaper that the seller will get some punishment as well. So it's kinda fair.

Yes, as I understand it the sellers rating will be downgraded so that next time the money will be hold longer in the escrow before he/she gets it.

[Trrrt]

Very cool to have a live video, very instructive.  I think video is a nice way to communicate wit the community, and Utrust team seems to be very good in communication. And its really important cause if utrust is adopted by a lot of people, the value will skyrocket so high !

[cxrealdcx]

check out the latest videos in youtube to keep updated with the project,
https://www.youtube.com/channel/UCJGArTMLKNJwO9r2E6TN9pQ
success is in our door

haha i not expected something like this

[levyashin]

Very cool to have a live video, very instructive.  I think video is a nice way to communicate wit the community, and Utrust team seems to be very good in communication. And its really important cause if utrust is adopted by a lot of people, the value will skyrocket so high !

Yes, I always read whitepapers but most people just look for easier content. And watching video is the easiest way to get what a project is really about.

I am looking forward to seeing new videos of the utrust team.