Investing in coins I don't currently have. $100 a week for at least 10 weeks. Giving away free crypto each time I invest.
Week 3 - WeTrust (TRST)
Market Cap - $11,263,926
Price - $0.122238
Supply - 92,147,500 TRST
$100 nets ~818 TRST tokens
https://www.wetrust.io/
What is WeTrust?
WeTrust is an ecosystem focused on providing a decentralized saving, lending and insurance platform through the awesomeness of blockchain. The dApp is built on the Ethereum blockchain and uses Trustcoins (TRST) as their internal fee and payment token. What WeTrust is trying to accomplish is bringing Trusted Lending Circles, also known as ROSCAs (Rotating and Saving Credit Associations) to the world through the use of cryptocurrency and smart contracts. ROSCAs are already heavily used throughout the world by the nearly 2 billion people that don't have access to bank accounts.
Traditionally Trusted Lending Circles are only used in small communities, usually in underdeveloped areas where easy access to banks isn't a possibility. They are also used all over the world in the form of savings groups or savings circles. These groups have always been contingent on that level of trust between each participating member of the circle, thus the groups remain small. This is great for interest rates on the payback or loans, and the default rate will stay low. There is also generally less fraud since the people participating are already familiar with each other. There are also state run Trusted Lending Circles which cater to a larger supply and demand in higher populated areas, but they often have high fees.
WeTrust has their road map laid out through 2019. Their first product is the Trusted Lending Circle. They have a link on their main page to their working ROSCA dApp. They're also working on stablecoins, which can be pegged to local fiat currencies to avoid day-to-day volatility. Their second product will be credit identities, to establish trustworthiness. Their third product will be a Trust network offering direct, low interest loans. And finally, and most interestingly, their fourth product staged to be released is a Mutual Insurance platform.
When reading the white paper it just seemed like a huge undertaking to get all of this accomplished in the next two years. I will be keeping my eye on WeTrust from here on and probably check out their ROSCA dApp pretty soon. I hope things work out and WeTrust can be a beneficial tool.
I will be giving away 150 TRST tokens. Just leave a working Trustcoin address in the comments by Friday, July 21st and a winner will be chosen at random.