Introduction.
WeTrust is a decentralised platform for savings and insurance formation based on Ethereum protocol for the establishment of integrated alternative to the current global financial system that have influence on the existing funds of social services founded on trusting relationships without the involvement of the third party characterized by reduced interest rates, improved payments system and rewards. The first product called ROSCA which is used for making a loan and financial assistance within their communities.
Limitations and severe problems of the current financial system.
According to statistics, one every four persons do not have a bank account. You can't just get a public loan without work with the average wage. Banks and insurance companies thrive from their third party role. Some leading economists have concerns about state protection systems that most people never get. Commercial aid may take insurance products or emergency credit but this model combines technical inaccuracy at a high operating cost.
More importantly, the commercial aid system's are aimed to meet the needs of the shareholders, to the detriment of the insured persons/borrowers, moreover, this activities are connected with the risks that could jeopardize the entire financial system (The global financial and economic crisis of 2008-2009). Finally, our current system is not accessible to many people (40 per cent of the world's population lives).
Mutual Assistance. And that principle can be summed up in simple words: members on voluntary basis provide assistance or get it too. In such organizations, showing a falling trend in this type of activity, it is also due to the inability to develop effectively and a lack of transparency over commercial assistance institutions.
Stablecoins. Stablecoins are needed to widespread adoption (fixed rates), equaled to the paper currency.
Identification. One more WeTrust product is a enhanced and autonomous system of the credit identification, which will take into account the result of several factors: compliance with the conditions (ROSCA), assessing the quality of personal accounts.
The full benefit of Blockchain technology.
- Decrease friction.
- Lack of fraud by organizers.
- Automated payments.
- Anywhere in the world.
- Public information, transparency preserving your privacy.
The Core Team.
George Li - is an ex-Googler who previously co-founded CottonBrew, a Stanford StartX computer vision company. Prior, he held roles in Corporate Strategy and Infrastructure at Google, and was a consultant at McKinsey. He holds a M.S in Management Science Engineering from Stanford and B.S. in Electrical and Computer Engineering from Rutgers University.
Patrick Long - previously worked in Finance at RMS, and Ernst and Young in Assurance Services where he earned his CPA. In his spare time, he manages a crypto-currency fund raised from friends and family and is always scouting for new opportunities. He holds a B.A. in Economics from UC Berkeley.
Shine Lee - is a entrepreneur at heart. After graduating from UC Davis about a year ago, he created his own Ethereum mining farm which generates enough passive income for him to be self-employed. He joins WeTrust as a developer working on Solidity smart contracts and brings his cryptocurrency domain experience. He holds a B.S. in Computer Science from UC Davis.
Hoang Nguyen - previously worked at PayPal as a Senior Software Engineer, and UC Berkeley as a Researcher. He holds a M.S. & B.S. in Systems Engineering from UC Berkeley.
Tom Dimopoulos - has worked in product management and operations at both large orgs and small startups for the past decade in the San Francisco Bay Area. Having worked primarily with mobile technology, Tom likes to balance data-driven, iterative product management techniques with a passion for visual flair and software scalability. He's got a strong sense of empathy for users and wants to utilize the power of technology to create a more connected, empowered world, and is incredibly excited to start contributing to WeTrust's product offerings. Tom holds a BA in History and Creative Writing from Columbia University.
Mivsam Yekutiel - has Ph.D. in Quantum Chemistry from the Otago University in New Zealand and did some post-doc work in renewable energy at Tel Aviv University. In the last 20 years, teaching and volunteering has always been a part of Mivsam’s life and she cares deeply about the social impact she has as a person.
Yutai Liao - is a seasoned UI/UX designer and researcher who is passionate about leveraging analytics data to create the best possible product. His prior experience includes serving as Director of Product Design and User Experience at online payments platform PayWithMyBank, Director of User Experience at online advertising platform AdBrite, and as a co-founder of civic engagement website CrowdCampaign. In addition to his professional work, Yutai is the creative mastermind behind Rental Car Rally. Yutai holds a Bachelor’s Degree in Mathematics from Queen’s College.
Hailey Tran - is a talented graphic designer who has a passion for combining art and technology to beautify and improve quality of life. She previously served as Head of Product Design at Munchee, a visual food review and social networking app for food lovers. Hailey holds a BA in Graphic Design and User Experience from Columbia College in Chicago.
Leon Di - has 9 years of experience in Silicon Valley technology firms in Hardware Engineering and Technology Marketing roles. As a Product Manager, he has managed accounts with Intel, Apple, and other major tech companies. He holds MS and BS degrees in Electrical Engineering.
Advisors.
Vitalik Buterin - is a programmer, writer and founder of Ethereum, the decentralized web 3.0 publishing platform and co-founder of Bitcoin Magazine. In 2014, Buterin won the the World Technology Award for the co-creation and invention of Ethereum.
Bo Shen - is a founding partner at Fenbushi Capital, an early stage venture capital firm exclusively focused on blockchain-enabled technologies. He co-founded Invictus Innovations Incorporated, the team behind BitShares. He is also a veteran in the traditional financial world having served roles in senior management within the insurance, hedge fund, and brokerage industries.
Brian Hoffman - is the Founder & CEO of OpenBazaar, an open source project to create a decentralized network for commerce online—using Bitcoin—that has no fees and cannot be censored. Prior to OpenBazaar, Brian started a multitude of online companies and was a consultant at Booz Allen Hamilton and Accenture. He holds a B.S. in Computer Science from James Madison University and a M.B.A. from Carey School of Business at John Hopkins University.
Emin Gün Sirer - is an Associate Professor in Cornell whose research spans operating systems, networking and distributed systems. He is an outspoken member of the hacker community, runs a technology blog called Hacking Distributed that questions current practices, and is a co-director at IC3, The Initiative for Crypto-currencies and Contracts. He holds a B.S.E. in Computer Science from Princeton University and a Ph.D. in Computer Science from the University of Washington.
Michael Casey - is a Senior Advisor for the Digital Currency Initiative at MIT's Media Lab and a partner at Agentic Group. A writer and researcher in the fields of economics, finance and information technology, most of Casey's career was spent as a journalist at the Wall Street Journal. He has authored four books, including The Age of Cryptocurrency, which he co-wrote with Paul Vigna. He holds a B.Comm from the University of Western Australia and an M.A. in Asian Studies from Cornell University.
Michael Hexner - is a seasoned entrepreneur and investor with over 40+ years of experience running companies in both the retail and technology space (Wheel Works, SmartPillars, Fundamental Capital, etc.). He is an expert in creating businesses from scratch by identifying real world problems and creating a crystal clear vision to lead his organization. He holds a B.S. in Political Theory from Williams College and a M.S. in Conflict and Dispute Resolution from Creighton University.
Benedict Chan - is the Director of Engineering at BitGo and has vast experience in creating blockchain and wallet platforms. He created Ether.Li - first multi-signature web wallet. Ben advises the team on smart contracts, wallets, and security matters. He holds a B.S. in Computer Science from University of South Wales Australia.
Investment view. The potential size of total capitalization. The insurance market shall be measured in trillions of dollars. WeTrust is a better improved alternative to current financial system, the future demand for WeTust products is inevitable.
Eventually, I invested in WeTrust for many reasons, most encouraging is that nearly all (90%) tokens TRST were sold to investors, what speaks well for developers intention. The main developers and advisors community are so talented and well known worldwide.
