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WeTrust Community Update 6/29

WeTrust Community Update 6/29

Hello WeTrust Community! We hope you’re enjoying your summer and have been staying cool. Here in Northern California where WeTrust is based, there’s been a scorching heat wave sweeping through the region. We’ve hit the ground running making improvements to our flagship Trusted Lending Circles product, partnering with blockchain industry leaders, and researching new products that will allow us to continue to lead in blockchain-enabled financial inclusion. Read on to learn more about what we’re working on.

Trusted Lending Circles

Most of our technical team has been focused on improving our Trusted Lending Circles product. We have brought on an additional contractor to help us build advanced TLC features, such as variable payout sizes and new methods for determining the recipient of funds. Other ways to determine the recipient of funds include lottery (where the recipient of funds is random each round), and pre-determined (where each person knows when they are receiving the payout). These types of payout methods are popular in different cultures, and we want to allow our product to reflect the needs of our users.

We also met with Shaun Djie in person, Director of Business Development at Digix to see how soon we can use their DigixGold tokens in our Trusted Lending Circles product. Gold has been used as currency in ROSCAs throughout history and across cultures. Gold is particularly important in chit funds in India and Cundinas in Mexico due to its scarcity, price stability, and usefulness. At WeTrust we are committed to making our TLC’s accessible to everyone, regardless of geographic, and economic barriers. As a means towards achieving maximum accessibility, WeTrust will enable seamless onboarding of new users irrespective of local FIAT currencies. Integrating support for Digix’s ERC20 compliant token that is fully redeemable and reflects the value of gold, is one of many important steps we will take in this...

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