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ICO review: UTRUST is a revolutionary payment platform that empowers buyers to pay with cryptocurrencies while providing a groundbreaking purchase protection mechanism





Today we will review another ICO. This project is in the stage of pre-ICO. The reason why I chose this project is cause I like there website and they have descent white paper. This project - UTRUST - does a new revolutionary payment platform. They will help people to use fiat currencies to pay in their tokens and at the same time provide an ecosystem for solving disputes and do it faster than it is done by services as bitpay. Now what I like about this website and about this project is they have partners, nice video describing the project, they also have a strong team that makes me think they have all chances to succeed. And everybody in the team has linked in profiles which proves they are real people. It is nice to work with real people at our ICO age.
Reviewing their white paper you will notice that they have description of the problem and clear explanation how they will solve the problem.
They will try to make an ecosystem for ecommerce and cryptocurrencies to make it more safe and reliable for buyers, merchants and for token holders who will be supporting their project. An interesting thing is that they are planning to have a commission that will be burned usage. This fact will decrease number of tokens available and raise the price of tokens on exchanges. As soon as the system will grow the price of the token will go higher.
One of the things they will have is an escrow service. That will allow user pay money to the merchant only in case when he receives what he paid for. They will have a dispute resolving system. During first week all misunderstanding between buyer and merchant could be solved directly and if they will not be solved dispute will be sent to mediator who will help them solve that issue.
Their tokens will be used everywhere in the system. They are creating 1 billion tokens and raise a bit less than $50 million.
Today on august 28th their pre-ico starts. Here is their comparison to paypal and bitpay. As you can see they have all the features listed here and some of the features are not presented in bitpay or paypal like decentralized token linked to platform. Well, bet ya.
Now let's move on and I want to show you one more thing which is important is how they are planning to spend the money.
51% will go towards engineering and development - I like this one.
21% will be used for marketing and promotion, 14% for legal and regulation issues, 7% for partner engagement. 5% for administrative costs and 2% for other things.
I do not see what the team is getting. Another thing I do not see in the white paper is how the team is planning to store money raised. Will it be a cold wallet stored in a safe place. Will there be an escrow that will give out hte money only when the team will achieve some results
By the way we can review their roadmap to review what they will do and when.
They have pretty ambitious plans as I see. They want to release in second quarter of 2018 the test api and then in third quarter client api and web wallet app. They have a year of development ahead of them. They want to release native apps on iOS and Android in the end of next year and also have 200 plus merchants involved.
Lets wish this team good luck. I hope you enjoyed the video. If you have any questions please ask them.
Starting from this video all the ICOs will be reviewed according to a certain scheme that our team had developed. And according to that scheme or review procedure we are reviewing project idea, business model, team, token distribution and budget usages, what achievements the project has and social media.
The most important aspects are the problem project is solving, business model and the team, do they have an MVP or not (this project does not have one as I see). This ICO is rated 51/100 which is very nice. The results could be better if the team would have an MVP, if we had clear understanding about escrow and the last thing I would recommend is to budget each stage of development. That is it. See you in the next videos.

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