How will the Crowdsale Funds be used?

The BTC and ETH raised during crowdfunding will be used by the WeTrust team to build out the WeTrust Platform products Trusted Lending Circles, Credit Identity and Reputation, Trusted Direct Lending, and Mutual Insurance.

The amount of financing received would vary significantly between the minimum and maximum financing (cap). The roadmap is a full vision to be completed if the cap is reached.

Although the progress we have already made while developing the Trusted Lending Circle MVP proves the validity of utilizing blockchain to create decentralized and scalable digitized financial entities, there is significant work ahead. The WeTrust team is fully committed to the project, but the roadmap and pace of development is also dependent on the level of success achieved from the crowdfunding.

In the minimum financing scenario, basic versions of Trusted Lending Circles, Credit Identity, Direct Lending/ Borrowing, and Mutual Insurance will be created. The final deliverables will enable users to create and find ‘circles of trust’ that can be relied upon as a fair marketplace for access to financial products.

The maximum financing scenario enables delivery of a much more advanced version of the above products, and also enables creation of more sophisticated payout terms that resemble insurance. Close integrations with ongoing blockchain efforts, and investment into global partnerships will also enable maximum distribution of the services we create. This then enables a virtuous cycle where the fees generated on the platform will be expected to support the efforts made by WeTrust, as well as our ability to make grants to organizations that have a similar vision.

Functionality vs Funding

Budget structure

Team refers solely to employment costs. We assume that with maximum financing we will be able to finance a team up to 20 people (mostly developers) for a period of 4 years.

Office and indirect costs includes office costs in the San Francisco Bay Area, as well as other indirect, employment-related costs.

Contractors ​covers all third parties we will need to work with. This includes security audits, legal and accounting services.

Community, Marketing, and Partnerships are related to WeTrust’s expansion plan. This includes both communication and marketing efforts to get new communities involved, supporting (financing or co-financing) third party integrations with WeTrust, building partnerships with external partners that WeTrust depends on for customer acquisition, and building brand equity.

Contingency fund ​is calculated as 8-10% of the total budget

We look forward to a successful crowdsale, followed by the build out and deployment of our products!!