Question 1

What is Utrust (UTKV1)?

Accepted Answer

Utrust (UTKV1) was the initial version of a cryptocurrency payment platform designed to enhance the usability and adoption of digital currencies for everyday transactions. The platform aimed to address inefficiencies in existing payment systems, such as high fees, slow transaction times, and the lack of buyer protection. Utrust provided a streamlined way for merchants to accept cryptocurrencies while offering consumers the security of refunds and protection against market volatility through real-time crypto-to-fiat conversions.

Question 2

What is Utrust (UTKV1) used for?

Accepted Answer

Utrust (UTKV1) was used as a payment gateway enabling merchants to accept cryptocurrencies as a form of payment. The platform supported multiple cryptocurrencies, including its native token, UTKV1, and allowed for zero-fee exchange rates for purchases made with UTKV1. It was particularly useful for merchants looking to expand their customer base to include cryptocurrency holders while benefiting from lower transaction fees and real-time settlement. Buyers also enjoyed security features like payment protection and dispute resolution mechanisms.

Question 3

Who created Utrust (UTKV1)?

Accepted Answer

Nuno Correia, a co-founder and chairman, has been involved in the crypto space since 2011 and comes with a background in marketing and law. Roberto Machado, another co-founder and CPO, has experience working with international corporations such as Uphold, AT&T, and Airtel. Filipe Castro, a co-founder and CCO, specializes in computer science and has experience in software solutions. Artur Goulão is also a co-founder and has contributed to the foundational elements of xMoney.