The WeTrust ICO was a very anticipated event in the Bitcoin world, since the idea to further revolutionize the banking sector is something many people dream about. On top of it, the WeTrust team looks very promising. So here are the most important facts about the WeTrust initial coin offering:
ICO Status: FINISHED
13. March 2017
The idea behind WeTrust is to create a platform for trusted lending circles. The blockchain technology will be used to create a decentralized platform, which should substitute the role of a bank. To take a Bitcoin loan should not be as hard as it is in the current finance world, where one needs high payrolls and a good credit score.
At first, WeTrust will generate the revenue through transaction fees. In the future additional sources of revenues will be created, f.e.: direct lending or insurance products.
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Total Coins created at sale:
|ICO Funds Distribution (in no specific allocation):
Research, Software Development, Business Development, Marketing, External Costs.
The 100 Million TRST are distributed as follows:
80 Million for the token sale participants
10 Million for the WeTrust team (vesting over 2y)
8 Million for future expenses, marketing, additional team members
2 Million for token sale bounties
TRST tokens are not mineable. All WeTrust crypto-tokens are created at the end of the initial coin offering. After the ICO, no further TRST tokens will be created.
TRST tokens represent the lending sum one can get, or at the same time, the sum one will need to repay for the taken loan.
Initial Coin Offering
2. March 2017
13. March 2017
ICO Tradable on Exchanges since:
20. April 2017
|WeTrust San Francisco
San Francisco Bay Area, USA
Team behind Ethereum
George is an ex-Googler who previously co-founded CottonBrew, a Stanford StartX computer vision company.
Creator of Ethereum and Advisor of WeTrust
He cofounded Bitcoin Magazine in September 2011, and after two and a half years looking at what the existing blockchain technology and applications had to offer, wrote the Ethereum white paper in November 2013.
Ron is an ex-Google veteran where he was a tech lead and senior software engineer working on products focused on increasing accessibility for emerging markets.