Topic: [ANN] [TRST] WeTrust - For the People, By the People! - page 216. (Read 275520 times)

@mummybtc: We are working on our bounties. It will be fixed soon. Thanks for your patience.

@housebtc: To thwart bad actors, WeTrust will have four deterrents:

1. Reputation risk/ Reviews: ROSCA groups will be limited to "trusted associates" - family, friends, co-workers, fraternal groups, and professional/ religious organizations. Defaulting on payments could mean social shame and loss of reputation amongst an individual's closest associates. The idea is that for ROSCAs with small enough dollar amount commitments, reputation risk will be sufficient enough to keep participants honest. Reviews may also be left by other members to show how they felt about any participant.

2. Legal risk: ROSCA formation will allow trusted associates to e-sign and bind each other to a legal contract which requires faithful adherence and payment to the ROSCA. Defaulting on payments and stealing could mean legal repercussions. Legal recourse will only be used if individuals are participating in a "high-stakes" ROSCA and legal action would be worthwhile. I've spoken to our legal advisor and she believes it will be possible to create auto-populating templates that will be tailored to each person's ROSCA terms.

3. Collateral risk: Collateral commitments may be required prior to joining a ROSCA. The collateral will be entered into a smart contract which will surrender the property to the ROSCA group if the ROSCA agreement is breached. Collateral can be liquid-cash like assets like Bitcoin or even less liquid assets such as auto/ home titles. Our system will benefit significantly from the ability to accept less liquid assets, since the majority of middle classes’ net worth is locked in real estate. Collateral would allow capital to be used more efficiently.

4. Smart contract bounty (self-enforcement): If a ROSCA participant violates the terms of the ROSCA, the ROSCA group may start a “Bounty” on the retrieval of funds. If the funds are retrieved, the “Bounty” is paid out to the person who enforces the terms of the ROSCA.


These deterrent options will be on an "opt-in" basis and participants will be able to choose the level of security they want.

I think Wetrust ICO can be successful

Iconomi is going to invest in this project

So target should be reached easily!

@modernbuddha

I joined your sig. campaign on 18/02/17 and I checked the signature campaign list was updated and my stake was not updated. I believe I should by now have one week stake added to my account by now, if not I will like to move on to another project where I'm sure I understand how their stake counts work.

Please help me to rectify this.

Wish you guys the best

I have not read anywhere how the team is going to ensure that those that got the money from their platform are going to refund the loan, this is the main issue in program like this, if the default rate is high and there is no way to enforce refund it may impact the project

@Unread: We will have them issue a public statement soon.

Welcome to the team was happy to see them. but how do we verify that they wetrust escrow ?

@sri.bima: apologies for the long delay and thank you for your patience! we are pleased to say we've finalized our escrow partners- Vlad Zamfir, Joe Urgo, and Jae Kwon will be serving to secure BTC and ETH received during our crowdsale.
read more here
https://medium.com/wetrust-blog/wetrust-announces-escrow-partners-79e077a1d7d6#.v2a24lea7

@rozee: apologies for the long delay. we are pleased to announce that we have finalized the process of securing trusted members of the community to act as escrow partners for our crowdsale. Vlad Zamfir, Joe Urgo, and Jae Kwon will be serving to secure BTC and ETH received during our crowdsale by acting as trusted key holders of our multi-signature wallets.
read more here
https://medium.com/wetrust-blog/wetrust-announces-escrow-partners-79e077a1d7d6#.v2a24lea7

@zahra4577: No, WeTrust is building a platform for Trusted Lending Circles so people can save and access credit within their Trusted Circles. Please check out our blog post on how Trustcoins work! https://medium.com/wetrust-blog/how-do-trustcoins-work-593a0c26c478#.peaqu1vhw

Welcome to them

Vive WeTrust project !

We are pleased to announced that we have finalized the process of securing trusted members of the community to act as escrow partners for our crowdsale. Vlad Zamfir, Joe Urgo, and Jae Kwon will be helping to secure BTC and ETH received during our crowdsale by acting as trusted key holders of our multi-signature wallets.



Here's a brief bio on our signees:

                  Vlad Zamfir: Vlad is a researcher working on the Ethereum transition from Proof-of-Work to Proof-of-Stake. Vlad is enthusiastic about fault tolerance, consensus protocols, coalition-proof consensus mechanism design, blockchain governance and blockchain ethics.


                  Joe Urgo: Joe is the Founder/CEO of sourcerers.io, a recruiting and consulting firm for Ethereum-based projects. Joe also currently serves as Director of Operations at Ethlance and Editor at The Dapp Daily. Previously, Joe spent 3 years at Coinbase as an Operations Manager, and worked at Three Arrows Capital as a Derivatives Trader.


                Jae Kwon: Jae is a technical entrepreneur, the author of the Tendermint whitepaper, and a force behind Cosmos, the internet of blockchains. Jae’s mission is to create sound cryptoeconomic systems for the safety and livelihood of everyone on this fragile planet.




We hope you're all pleased with our choices and the WeTrust team is looking forward to your participation in our upcoming crowdsale on 3/1!

Will WeTrust act like a crypto bank to lend cryptocurruncy to others? Will token holders get share of interest that WeTrust will collect from borrowers?

Yes Stakes for week, I saw you update, I miss date of update!!!Sorry..Alll good

@Alonzo Ewing: It is on the first page. Scroll down on the first post and you will see our team letter explaining the roadmap and updated budget. Thanks for your feedback!

@KAKAOK: Thank you video should be up to 2 mins long.

I will suggest you to add this roadmap on the first page for better understanding

Great idea! How length a video be eligible to participanted in this promo?

@mammusu: 1,000 BTC is needed for the most basic features that will be built. More advanced features will be built if we reach 6,000 BTC.

Stages are described in this Blog post: https://medium.com/wetrust-blog/updated-budget-and-roadmap-135db39281cb#.oxie72rbn