What is Utrust?
The Utrust token, or UTK, is the native token powering the Utrust ecosystem. The latter is a crypto-based payment system deployed on the Ethereum blockchain.
UTK is based on the ERC-20 token standard. It mainly serves as a medium of exchange within the Utrust ecosystem.
The Utrust token was launched via an Initial Coin Offering (ICO) event in November of 2017.
There is a total supply of 500,000,000 Utrust tokens. Given the token's deflationary supply, it's possible the UTK price will grow as the tokens become more scarce.
Utrust tokens have been distributed as follows:
- 70% - ICO;
- 10% - Utrust;
- 10% - Private Investors;
- 5% - Pre-ICO;
- 5% - Marketing and Bounty Program.
If you want to delve deeper into the Utrust crypto project, you can check out the UTK price history and the current Utrust price.
What are the Main Features of Utrust?
As discussed in the What is Utrust section, Utrust is a cryptocurrency payment platform that caters to both individuals and businesses.
One of the primary goals of this project is to make cryptocurrency payments more accessible to both individuals and businesses by providing a cost-effective solution.
Individuals can use Utrust to pay for products and services with major digital currencies. Additionally, it enables users to easily send or request a cryptocurrency payment. The majority of digital wallets allow seamless integration of Utrust.
When it comes to e-commerce, Utrust offers cryptocurrency payment solutions. This means that it provides the necessary tools to integrate cryptocurrency payment methods into an online business.
Most importantly, Utrust converts coins or tokens into the selected fiat currency upon payment.
It’s important to note that all transactions on Utrust are charged with a 1% fee.
One of the main advantages of Utrust holds the crypto funds in the system until the buyer receives their product or service. This way it tackles the issue of cryptocurrency volatility, as well as financial crimes, such as fraud and scams.
Who Developed Utrust?
The Utrust crypto project was launched in 2017. Its co-founders are entrepreneurs Filipe Castro, Nuno Correia, and Roberto Machado.
Filipe Castro holds a Master’s degree in Engineering and Business Administration in addition to successfully completing a Blockchain Technology course at the MIT Sloan School of Management. Besides Utrust, he also founded 500 Startups, Alchemist Accelerator, and Berkeley Blockchain Xcelerator. Filipe is currently taking the role of CEO at Utrust.
Nuno Correia is the CSO of Utrust. Prior to the inception of the project, he went to the Massachusetts Institute of Technology where he successfully completed his studies in Blockchain Technologies. Utrust is not the only project co-founded by Nuno, he also was a part of launching bornauthentic - a fashion platform.
Roberto Machado completed his studies at the University of Minho where he earned a master’s degree in Information Technology and Software Engineering. Besides Utrust, he also co-founded Onda Studio, Aurora Digital Health, Finiam, Lightshift Capital, Subvisual, and Decipad. He’s currently the CPO and a board member at Utrust.
Some of Utrust’s partners include Clever Group, Diamond Cutts, Payrexx, Jumpseller, Gambio, and Perfumes.com, among many others.
