WeTrust (TRST) Review, Price, Market Cap and more | Coinopsy

WeTrust (TRST)

WeTrust (TRST) - Wet-rust

WeTrust can be thought of as an insurance company mixed with a crowdfunding platform which, in short can be called a Financial Applications Platform. WeTrust has already proven itself as a very practical working product that will give users access to  p2p saving and lending platform...
Pros Cons Related Cryptos Review Summary
WeTrust's current price is $0.008 USD. In the past 24 hours, WeTrust's price has decreased by -0.2 percents..
TRST
Name (Ticker)
WeTrust (TRST)
Price (USD)
$0.00767606417872
Rank
350
Active Supply
92.1 million
Total Supply
100.0 million
Max Supply
100.0 million
Volume(24H)
846
Market cap
707330
Fun Name
Wet-rust
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Pros

  • Practical working product
  • P2P saving

Cons

  • Founders reward
  • Still in development
  • No backing (asset, profits, commodity)

Review

WeTrust can be thought of as an insurance company mixed with a crowdfunding platform which, in short can be called a Financial Applications Platform. While most of their projects are still in development they have developed a project that enables peer to peer lending and saving called ROSCA

  • Rotating Savings Credit Association ( ROSCA )
  • Incentivize developers

Now this is an interesting product that has been developed by the team at WeTrust, It is a group lending and savings platform in which a group creates a ROSCA pool which the group then all contribute into at a predetermined interval and a set amount. Any of the users who are contributing can also take money from the pool as agreed by the other contributing members of the pool. This has a strong use case in countries that have no access to banks or financial services, there are also features of ROSCA that help with incentivising saving and deincetivince withdrawing from the shared pool.

WeTrust, upon the ICO raising funds, 10% or 400,000 USD was set aside as a founders reward which is currently locked into a smart contract only to be released after 2 years in the hopes that it will incentivize developers to finish the project, The concern that comes to mind here is what happens when the 2 years are up and projects are not finished.

  • George Li
  • Patrick Long
  • Tom Dimopoulos
  • Hoang Nguyen

Summary

WeTrust have already proven themselves to be able to create a very practical working product that will give users access to a p2p saving and lending platform. The WeTrust road map is full of great ideas that would make life easier for those without access to traditional financial service and also help develop communities around finances.

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