WeTrust is a blockchain-based loan and insurance platform. As an alternative to traditional finance, it provides community-based credit scores, insurance and banking services. 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 for generation fees, etc.

1. Project introduction

Wetrust was established to replace trusted third parties with blockchain. In fact, there are about 1 billion people in this world who cannot get insurance products or financial services. People who can enjoy these services are also charged high fees by third parties. We think that blockchain has developed to a certain stage. As blockchain truly integrates into social life, trusted third parties will gradually withdraw from our society, and trust between people will replace the role of trusted third parties. How to achieve this direct trust between people is actually the direction we Wetrust is working hard on.

Wetrust's first step is to reduce the fees of this middle third party. In fact, before the emergence of financial institutions such as banks, there were already bids in private. The bid can be understood as a credit loan for acquaintances. Participants pay a certain amount of meeting payments on time and decide the order of collection of meeting payments through bidding. You can also regard the bidding club as a bank for the poor. The funds in the bidding club will not be stored for too long, but will be transferred continuously to meet the consumption and production needs of participants.

Project Features

Improving financial inclusion globally
Digital technology has revolutionized, but billions of people around the world still have no bank accounts and cannot obtain the savings and credit that drives the modern economy. Decentralized funding has been created, and blockchain technology provides untapped commitments to provide fair and effective financial services worldwide.

Add to increase the diversified finance
The spirit of decentralization is the core of Bitcoin and Ethereum, and the core of WeTrust. The product design takes into account decentralized and distributed technologies.

Envelopes that promote blockchain technology
Blockchain technology is developing every day and we strive to stay ahead of the curve. We experiment quickly and continue to release new features.

WeTrust users can independently create and manage digital conventions on the Ethereum blockchain. Create new bidding, conceive personalized agreements, and participate in managing transactions and membership records. Since the bid agreement will be compiled into the original code in the form of a smart contract, 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 technologies to address existing shortcomings in the bidding market, especially for middle-class users in developing countries such as China and India.

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

Blockchain promotes transparency of bidding. All important information about the convention will be automatically archived safely and accurately on the blockchain. These files will be made public to all members.

Blockchain removes the necessity of third-party management. Blockchain technology enables automatic payment and archiving. Therefore, users can manage the bidding contents themselves without external intervention.

2. Comment

WeTrust is a collaborative savings, loans and insurance platform that is autonomous, agnostic, frictionless and decentralized. WeTrust has created a complete alternative financial system that leverages existing social capital and trust networks, eliminating the need for “trusted third parties”, thus reducing fees, improving incentives, diversifying risks, and allowing more capital to stay among participants and 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