Best ICO Reviews – ICOJudge – WeTrust (TRST)

Hey, welcome back to a brand new episode of ICOJudge, brought to you by me, Mihai Catalin Teodosiu, your favorite programmer, entrepreneur, and cryptocurrency enthusiast [LinkedIn] and ICOJudge.co, the best ICO and cryptocurrency assessment service in the world!


Full disclosure! The reviews I write on my blog are 100% independent from any ICO influence, being solely my own opinions about whether an ICO or existing coin is worth any investment on my behalf or not. As always, this is not financial advice, I am not a financial advisor!


Since my first cryptocurrency reviews, I have refined the reviewing process, keeping my 10 steps intact, but making the scoring system more granular. Each item in the list is assessed either as Great (1p), Good (0.75p), Bad (0.25p) or Missing (0p).

Finally, the total score for each ICO or existing coin is calculated as the average of the scores for each item in the list.

Also, a comments section is provided for each criterion, providing further insight, if necessary.

As a personal preference, I decided to invest only in ICOs or existing coins that score over 80% (On Track or Low Risk, according to my system), no matter what people say, no matter how great the hype is or any other kind of word-of-mouth thingy that gets noobs overly excited. Yes, I really do practice what I preach.


 ICO / Coin Review

 SCORING SYSTEM TOTAL SCORE OVERALL STATUS CODE
90.00% – 100% On Track
80.00% – 89.99% Low Risk
70.00% – 79.99% High Risk
<= 69.99% Off Track

Here’s my review for today’s ICO/coin, WeTrust. TRST has been flying under the radar since its ICO, but recently got some attention, after Vitalik Buterin confirmed he really is an advisor for this project. I said “really”, because there were several ICOs lately, claiming they have Vitalik on board, which turned out to be false. However, OmiseGo, Kyber Network and WeTrust really have the iconic figure in their team of advisors. Now, back to the review.

Item no. Item Name Item Score (points)
Item #1 The whitepaper. Is it clear and describes the project in detail?

0.75

Comments I am assuming that their whitepaper (https://bravenewcoin.com/assets/Whitepapers/WeTrustWhitePaper.pdf) is a bit outdated since I didn’t find any references to Vitalik in the Advisors section of the document. Also, the whitepaper can be found by doing a Google search, instead of being included in a “Documentation” or “Resources” section of the website. Nevertheless, the whitepaper contains key areas (which some ICOs seem to miss, sometimes), like a clear roadmap (yes, one with actual estimated dates), team members and advisors, market analysis, budget structure and so on. The go-to-market strategy outlined in the whitepaper looks very floppy, though – not much thought has been put into this or they haven’t had any appetite for outlining in more detail. For this reason and the ones listed at the beginning of this section, I think they don’t deserve a full point for the whitepaper.

 

Item #2 Do I feel like this technology will solve an existing issue?

1

Comments  

Yes, WeTrust really aims to solve an existing issue. According to their whitepaper, “WeTrust is a collaborative savings, lending and insurance platform that is autonomous, agnostic, frictionless, and decentralized. WeTrust utilizes the Ethereum blockchain to create a full-stack alternative financial system […]”. This will result in lower fees and risk and a wider financial adoption worldwide.

Item #3 Are there any founders / developers / special advisors with a solid background?

1

Comments WeTrust does have a superstar team behind it, no doubt about that.

George Li is the CEO of WeTrust and has served as Program Manager for Google, Consultant for McKinsey & Company and Engineer for Verizon and Motorola, which is quite impressive.

Patrick Long is the COO of WeTrust, former Accountant at RMS and member of the Assurance Staff at EY, which is a global leader in assurance, tax, transaction and advisory services. He holds a BS Degree in Economics from Berkeley.

Tom Dimopoulos is another superstar here, holding the VP of Product position at WeTrust. He is a former Google employee (4 years), specialized in mobile products and a Lab and Residential Computer Consultant at Columbia University.

Hoang Nguyen is the VP of R&D at WeTrust and a former Senior Software Engineer at PayPal and Researcher at UC Berkeley. He holds a MS Degree in Systems Engineering from the same university.

In this advisors arena, we find Vitalik Buterin (nothing more to add here), Bo Shen (Founding Partner of Fenbushi Capital) and Brian Hoffman (Founder & CEO of OpenBazaar/OB1), among others.

Item #4 Is there a well-established and active community? (Slack, Telegram, Discord, Twitter and so on)

0.25

Comments  

WeTrust definitely needs more marketing and a larger community, to raise awareness and push the price up a bit. Their Twitter page isn’t as active as it should be (no daily posts, updates, retweets, mentions), having just over 10k followers. The Facebook community is way too small, with only 2k+ likes. Their subreddit brings together only 875 readers at the moment, but their Medium blog has almost 2k followers. Their Slack channel has several thousand members, from what I see, however it doesn’t look to be the most active Slack community out there. It seems that announcements are made every week, which is decent and the #general channel is pretty active.

Item #5 Is the current price low enough to believe in a future 100x return?

1

Comments Yes, the current price for 1 TRST is $0.278, having an all-time high at around 50 cents. If the team and advisors really make this project a reality, then yes, I truly believe in a huge return a few years from now.

 

Item #6 How high is the circulating supply of coins?

1

Comments There are 100,000,000 TRST in total, with a current circulating supply of 92,147,500 tokens, which is a promising figure for such an amazing team and project.

 

Item #7 Are there any current or announced partnerships with big names in the industry?

0.25

Comments WeTrust should really bring more partners on board to get things rolling and capture people’s attention. They currently have a partnership with DigixGlobal, a company putting digital gold tokens on the Ethereum blockchain, based in Singapore. This is the only partnership I found for WeTrust.

 

Item #8 Is there any existing product/prototype/alpha version for this technology?

1

Comments Yes, check out this page https://tlc.wetrust.io/ (the website for this platform is coming soon) and their GitHub profile at https://github.com/WeTrustPlatform

 

Item #9 Does the technology solve a particular issue or tries to be the jack of all trades? (not to be confused with Item #2. Here, it’s very important to me if the team tries to address a particular problem and do it well, rather than trying to build X apps and platforms all at once, which can be counterproductive, especially when having a small team or budget)

1

Comments Although WeTrust aims to solve several issues by building a full-stack alternative financial system, comprised of several features, they are currently focusing on just building the Trusted Lending Circles platform (https://tlc.wetrust.io/) and that’s best for creating a strong and stable full-stack product, in the end.

 

Item #10 Does the Fibonacci retracement technique reveals a good entry point to buy right now?

1

Comments  

Considering the Fibonacci retracement results and the current cryptocurrency landscape of October 2017 (with an upcoming Bitcoin fork and people pulling their money out of altcoins), the price of the TRST coin is at a great level (support at the 78.6% level) for buying and accumulating.

PROJECT SCORE

8.25


Conclusion:

WeTrust is a good long-term investment, considering the team and advisors behind the project, the platform they’re preparing to launch and the current token metrics. Improvements should be made regarding the community, partnerships and overall marketing.

I have invested in TRST tokens recently and I really do believe that this project is currently flying under the radar, but it has great growth potential in the long-term.

Happy investing!
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