Blog: TrustVerse’s AI-Wealth Management & Digital Estate Planning Protocol
BLOCKONOMI wrote an article about TrustVerse on October 18, 2018
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Link to original article: https://blockonomi.com/trustverse-io-guide/#
Trustverse.io: AI-Wealth Management & Digital Estate Planning Protocol
TrustVerse.io is a personal wealth and digital asset management platform designed around the use of the blockchain and artificial intelligence. It can be thought of as a deep neural digital assistant for nearly every facet of one’s digital holdings –particularly estates.
“The TrustVerse project began with the fundamental questions, ’How do you safely protect your digital estate and other assets?’ and ’How can we reduce information asymmetry and maximize the utility of dApps (decentralized applications) with niche and highly demanded service related to wealth management?’” according to the project’s white paper.
TrustVerse.io aims to answer those questions with its secure platform, which will ideally combine day-to-day management with strategic allowances for tax, legal, regulatory, and other concerns.
Who’s the Team Behind Trustverse.io?
The co-founders of Trustverse.io are Michael Jeoung and Jack Poon. Jeoung is the CEO of Trustverse.io and boasts 15 years in the high-tech business development sector. He previously served with Cisco Systems as the head of global partners organization. Poon is the found and CEO of AtCipher, and he formerly served as an engineer for Intel Corporation.
How Does It Work?
The Trustverse.io platform contains a host of tools for digital wealth management, combined with a number of proffered services.
TrustVerse.io combines the power of artificial intelligence with the functionality of blockchain technology such as smart contracts to build optimized and transparent portfolios. So-called life scheduling services can be arranged via smart contract, and smart contracts can be used to safeguard estate assets private donation and inheritance assets on a public blockchain. Overall encryption is a given due to the use of utility token TVS.
The heart and soul of the Trustverse.io project is an automatic portfolio tracking tools that can direct users to rebalance their financial portfolios held with third parties in real-time. This independent observer stance toward asset management can eliminate conflicts of interest and reduce fees for potentially much more lucrative information.
“The Trustverse platform only provides portfolio information and smart contract features for asset management companies record,” the developers stated. “The dividends will be paid and decided by the asset management company, which is independent of the platform. Unlike existing, traditional portfolio services which charges users exorbitant fees for a time-consuming interface without providing a real-time market situation, our portfolio service provides prompt time-to-market service.”
What Makes TVS Stand Out?
The Trustverse.io team quickly recognized that the cryptocurrency sphere remains a low-trust environment. This is partially due to its relative newness in the financial world and partially due to its unregulated nature. The crypto market as a whole, as well as individual cryptocurrencies, is subject to large swings in volatility, and there is no coherent regulatory or tax structure within the U.S. for managing cryptocurrencies. This makes it difficult — with the offerings currently available — to trust a highly conservative field, like digital wealth management or estate planning, to blockchain-based tech.
Enter the TVS token, which the team believes will smooth out the rough patches in the market and provide a reliable base on which the Trustverse.io platform can function.
“VS Token aims to eliminate the inherent weaknesses of cryptocurrency — information asymmetry, lack of utility, and provides investors with a credible, portfolio-based financial information that will be highly utilized monetary value and authority,” the developers explained in their white paper. “Furthermore, TVS token gives access to handle tax or legal-related information for the holding digital assets and estates. One of the main missions of TrustVerse is to provide token users with real value and service that they are satisfied with.”
The TVS token is an ERC-20 token with a total volume of 1 billion. The only currency accepted for TVS tokens is ETH, as TVS functions as a dApp on the ERC-20 network. The tokens will be sold at a rate of 2,000 TVS per 1 ETH.
A total of 40 percent of the available total token supply will be sold to the public at large, with 30 percent retained for the ecosystem and research and development. The founder of TVS will keep 20 percent of the available supply, with 6 percent allotted for the team and the token’s advisers. A further 4% will be made available to partners for market development.
What’s Next on the Roadmap?
Trustverse.io’s roadmap primarily concerns its token sale plans. The presale is slated to finish by Oct. 23, at which point that actual initial coin offering will begin. Public sales will stretch from Oct. 24 to Nov. 19.
Trustverse.io presents a solid use case for blockchain technology that offers significant advantages over traditional asset and estate management services. Its position as an intermediary between users and fund managers puts more control into the hands of users by granting them access to artificial intelligence portfolio services and real-time asset management.
Moreover, Trustverse.io’s innovative use of smart contracts with its so-called “proof of death” system takes a lot of the guesswork and uncertainty out of estate and inheritance planning.
One of the core advantages of Trustverse.io versus traditional estate and inheritance planning is its use of blockchain technology to ensure a safe, secure, and transparent chain of ownership of assets via the TVS token. The TVS token itself is based on the tried-and-true ERC-20 technology. Since Ethereum provides the underlying tech for the Trustverse.io platform and dApp, it’s virtually guaranteed to have market longevity. That is, Trustverse.io lives up to its name by providing a long-last and secure platform for managing a traditionally conservative corner of the financial sector.
Trustverse.io is also forward-looking in terms of regulation. While the cryptosphere at large suffers from a big lack of consistency in taxes, regulatory measures, and the like, Trustverse.io is prepared to meet these challenges head-on and actually address them in an ever-evolving environment. This capability puts it head and shoulders above its competition, which struggles to meet even the regulatory challenges facing the cryptocurrency market alone, let alone complicated end-use cases, like portfolio management and estate planning.
Uploaded on: October 18th, 2018 (tvspress)
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