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We attended the North West Meeting organized by the business circle of Vigo

Tuesday July 10th 2018|

On June 26, he attended the event organized by the business circle of Vigo, in which a group of projects was called in BlockChain and in virtual cryptocurrencies or tokens.

In addition, the current state of cryptocurrencies, and exchange markets, as well as the volatility of digital currencies, their current financial or active use for trading and not how to buy goods (their original functionality) were discussed.

About the projects exhibited, Utrust, Nostrum, Workkola and Solidar, highlight, above all, the case of UTrust, a company with Portuguese origin but settled in Switzerland, which has undoubtedly been anticipated, solving a problem that does not yet exist. This problem is the possibility of being able to pay securely and quickly in cryptocurrencies in any e-commerce store. And it is future, then, still to this day, very few, companies that allow to pay in cryptocurrencies and very few users buy goods with them. This is due to the validation times (the conditions in some cases) of the transactions, the high volatility of the value of the cryptocurrencies, the impossibility of reversing a payment (when we have not received the product that we bought) etc ...

UTrust is placed in the middle and is responsible for all this, how it does paypal, but for much less commission, it eliminates a lot of intermediaries.

Undoubtedly, at some future time, the use of security devices will be expanded as has electronic commerce, and it is important that the vendors have a convenient PoS system to integrate in their virtual stores that allow them to outsource the problem of collections in digital currency with a reasonable charge (the trust fee is 1%).

 

From GodEnigma, a FinTech company, we see key to improving user experiences for buyers and buyers in the world of cryptocurrencies and is an issue that we will integrate in the near future in our projects based on blockChain, given that one of the limitations or problematic of this technology is the scalability and speed of validating transactions

Labels: BLOCKCHAIN , crypto , fintech

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