Decentralized finance for the inclusive economy
WeTrust is developing a platform for decentralized financial applications based on the power of blockchain technology. The company said that it aims to help the process of financial inclusion around the world. In order to do that, blockchain and digital technology will be utilized in order to enable revolutionary changes, allowing billions of people around the world to get access to financial and banking services that drive the modern economy.
According to Crunchbase, WeTrust has raised a total of $5M in a single funding round. The funding round was done on April 13, 2017. The company has 3 core members including its COO Patrick Long, and 4 board members and advisors including Michael Casey. On their website, WeTrust stated that its vision is to improve financial inclusion on a global scale using digital technology and blockchain economy. It also aims to improve financial inclusion using decentralized finance, encouraging people to use blockchain-based DeFi products for their financial activity.
WeTrust provides different products from collaborative savings, lending, and insurance platform. All of these services and products are autonomous, agnostic, frictionless, and decentralized. WeTrust uses the Ethereum blockchain with its smart contract capabilities to build a full-stack alternative financial system that leverages existing social capital and trust networks. By doing this, the platform will eliminate the need for a trusted third-party, decrease fees, improves incentive structures, decentralized risks, and more.