WeTrust is a blockchain-based loan and insurance platform that provides community-based services such as credit scoring, insurance and banking as an alternative to traditional finance. It aims to provide decentralized fair and just financial services and create a more inclusive financial system. Trustcoin (TRST) is a cryptocurrency in the Wetrust ecosystem, used to reward participants, pay generation fees, etc.

1. Project introduction

The purpose of Wetrust was to replace trusted third parties with blockchain. In fact, there are about 1 billion people in the world who do not have access to insurance products and financial services. At the same time, those who can enjoy these services are also charged high fees by third parties. We think that the blockchain has developed to a certain stage. , as the blockchain truly integrates into social life, the trusted third party will gradually withdraw from our society, and the trust between people will replace the role of the trusted third party. How to realize this kind of direct trust between people is actually The direction we Wetrust is working on.

The first step of Wetrust is to reduce the cost of this intermediate third party. In fact, before the emergence of financial institutions such as banks, there was already a standard society in the private sector. The standard society can be understood as a kind of acquaintance credit loan. Participants pay a certain amount of dues on schedule, and decide the order of receiving dues by means of bidding. It can also be regarded as a bank for the poor. The funds in the auction will not be stored for a long time, but will be changed hands continuously to meet the consumption and production needs of the participants.

Project Features

Improving Financial Inclusion Worldwide
Digital technology has revolutionized change, yet billions of people around the world remain unbanked and unable to access the savings and credit that power modern economies. Already created for decentralized money, blockchain technology offers the untapped promise of fair and efficient financial services on a global scale.

Increasing Decentralized Finance
The spirit of decentralization is at the heart of Bitcoin and Ethereum, and it is also at the heart of WeTrust. The product has been designed with decentralized and distributed technologies in mind.

Pushing the envelope of blockchain technology
Blockchain technology is evolving every day and we strive to stay ahead of the curve. We experiment quickly and release new features constantly.

Users can independently create and manage digital tokens on the Ethereum blockchain through WeTrust. Form new clubs, conceive personalized agreements, and participate in managing transactions and membership records. Since the bidding agreement will be compiled into the original code in the form of smart contracts, members need to provide real identity information. Unruly members will be removed from the reputation system.

WeTrust's solution

WeTrust is committed to using blockchain and mobile technology to solve the existing shortcomings of Biaohui, especially targeting middle-class users in developing countries such as China and India.

Blockchain eliminates middlemen. WeTrust is committed to solving the problem of inefficiency in marking through blockchain technology.

Blockchain promotes transparency in bidding. All important information about the bid will be automatically archived safely and accurately on the blockchain. These profiles will be open to all members.

Blockchain removes the need for third-party management. Blockchain technology enables automatic payment and filing. Users can thus manage bids by themselves without outside intervention.

2. Review

WeTrust is a collaborative savings, loan and insurance platform that is autonomous, agnostic, frictionless and decentralized. WeTrust leverages the Ethereum blockchain to create a complete alternative financial system that leverages existing social capital and trust networks, thereby eliminating the need for a "trusted third party," resulting in lower fees and improved Incentives, spread risk, and allow more capital to remain among participants, ultimately improving financial inclusion globally.

Related Links:

https://www.wetrust.io/

http://www.qukuaiwang.com.cn/szhb/2173.html###

http://chainb.com/?P=Cont&id=4093