The thing is, UTRUST is always being 100% compliant. Other ICOs which I won't mention here already have problems with this. Some of them may run into legal issues in the future, others have problems being accepted by any major exchanges. UTRUST is not about the ICO (yet, it is a vital part!). We are establishing a legal framework that will set out the base for a bright future and years to come.
Our entire team believes firmly in what we are building now and these goals can only be achieved if you do it the right way from the ground up.
Yes, this indeed puts some hurdles into our way in regards to excluding some investors, but in the end we want to be here for the next generation ("Web 3.0") which, in our opinion, is build with blockchain technology! 👏
PayPal's original vision was to replace paper money.
We're definitely onto something big. The need PayPal answers is monumental. Everyone in the world needs money – to get paid, to trade, to live. Paper money is an ancient technology and an inconvenient means of payment. You can run out of it. It wears out. It can get lost or stolen. In the twenty-first century, people need a form of money that's more convenient and secure, something that can be accessed from anywhere with a PDA or an Internet connection. Of course, what we're calling 'convenient' for American users will be revolutionary for the developing world. Many of these countries' governments play fast and loose with their currencies. They use inflation and sometimes wholesale currency devaluations, like we saw in Russia and several Southeast Asian countries last year [referring to the 1998 Russian and 1997 Asian financial crisis], to take wealth away from their citizens. Most of the ordinary people there never have an opportunity to open an offshore account or to get their hands on more than a few bills of a stable currency like U.S. dollars. Eventually PayPal will be able to change this. In the future, when we make our service available outside the U.S. and as Internet penetration continues to expand to all economic tiers of people, PayPal will give citizens worldwide more direct control over their currencies than they ever had before. It will be nearly impossible for corrupt governments to steal wealth from their people through their old means because if they try the people will switch to dollars or Pounds or Yen, in effect dumping the worthless local currency for something more secure.https://en.wikipedia.org/wiki/Peter_Thiel#PayPalNow PayPal has banking licenses necessary to process fiat. Both PayPal and their users are not allowed to touch cryptocurrencies.
According to the PayPal Acceptable Use Policy updated on July 1, 2015, using bitcoin to transfer or “top-up” Paypal is “illegal,” as it violates one of the terms of the official policy:
“You may not use the PayPal service for activities that relate to transactions that involve currency exchanges or check cashing businesses”How can you ensure that the same will not happen to UTrust?
Damn. Paypal really is full of sht. If they said this, it would be really stupid. I think they have not heard the phrase "word of honor".
These guys do not deserve the trust given to them by people.
Now that you've mentioned it, i am starting to wonder already. This is pretty scary. Because if utrust does the same, it will really be bad for the crypto currencies. People will think utrust abandoned cryptos because they are not legitimate or just useless.
