With 2.5 billion unbanked people in emerging markets who can benefit from financial inclusion, blockchain technology has the potential to create nearly 95 million new jobs across all sectors in unbanked nations.
Based on a McKinsey report, UTRUST, the world’s first cryptocurrency payments platform with consumer protections, predicts this inclusion in the digital economy could boost GDP of all emerging economies by $3.7 trillion by 2025.
The company aims to develop the world’s first ready-to-use cryptocurrency payments platform aimed in part at the world’s unbanked population.
UTRUST, having already raised $3.5 million from private investors and a sold-out pre-ICO, and an upcoming public ICO, plans to support a global payments platform that provides merchants and consumers in both developed and emerging markets a secure and transparent platform for commercial transactions.
Potential Gains Exciting
“The potential gains are particularly exciting in emerging markets where mobile phone penetration could recreate the role physical banking infrastructure plays in developed markets,” said Nuno Correia. UTRUST CEO. “UTRUST sees the potential of cryptocurrencies and digital technology to transform financial services provision in both developed and developing markets.”
UTRUST tokens can be used for making zero fee payments to the thousands of merchants accepting any cryptocurrency via UTRUST, and be traded against other currencies on supported exchange platforms.
UTRUST will enable merchants to sell to the growing audience of cryptocurrency holders. The platform also provides the consumer protection buyers have come to expect for traditional online purchases, serving as a mediator to enable refunds and mitigate fraud, while also protecting the merchant from volatility often associated with cryptocurrencies.
The company will establish industry partnerships and develop the world’s first PayPal-like cryptocurrency payments platform. The ERC20 compatible tokens are created over the Ethereum protocol, and can be used as a means of payment on UTRUST’s payment gateway along with other cryptocurrencies.
UTRUST will allocate a certain portion of its revenues to buyback and destroy the tokens in circulation. Being a deflationary currency by design, the demand for UTRUST tokens will increase with time, which combined with buyback, will appreciate its market value.
The team plans to have a transactional platform ready for merchants to test in the first quarter of 2018, supported by a wallet app where buyers and merchants can check their balance, transaction history and mediated resolutions. The pilot launch will feature a curated selection of merchants, which will expand in the third quarter of 2018.
ICO Coming October
UTRUST’s public ICO will launch in early October. The seven upcoming ICO rounds will begin immediately after the previous round has sold out, bringing UTRUST to $50 million in funding, and providing a launchpad to revolutionize the payments space.
The purpose of the ICO is to allow anyone to become an investor.
To learn more about UTRUST’s ICO please go to: https://utrust.io/ico
A Diverse Team
UTRUST’s team includes individuals experienced in corporate management, payments, cryptocurrency development, law, finance, startups and computer science.
Nuno Correia, CEO, has been involved in the crypto markets since the beginning of 2011. Having founded multiple B2C businesses, Correia has a background in law and marketing.
Filipe Castro, CIO, holds a business degree from MSENG and brings experience developing electronic payment systems and other software solutions. He is engaged in developing new ventures.
Artur Goulão, CTO, brings experience in the payments industry. He has served as a CTO in a leading digital payment platform, and is currently serving as the head of development at a Swiss-based cybersecurity company. With a background in computer science from IST and MIT, Goulão brings expertise in both classical and blockchain smart contract based approaches.
Roberto Machado, CPO, has served as founder and product manager at several software startups. He has worked with international companies such as AT&T, Betfair, Airtel, and Uphold, being responsible for the vision outline, goals and product strategy of solutions used by millions of users.
Other team members include Luis Ferreira, head of engineering; Laura Esteves, head of operations; Joao Ferreira, head of design; Nick Olender, head of sales and partnerships; and Francisco Baila, product designer.
UTRUST’s software engineers include Miguel Palhas, Gabriel Poca, Ronaldo Sousa, Fernando Mendes, Bruno Azevedo, Pedro Costa and Joao Justo.
The advisory team includes Francisco Maia, Francisco Cruz, Joao Paulo, Sergio Viana, Marc Howland, David Dryan, Daniel Pierce and Sascha Benz.
To learn more about UTRUST’s ICO, go to utrust.io/ico
Digital finance for all: Powering inclusive growth in emerging economies*.