Utemis is the first and only decentralized business to business (B2B) e-commerce platform built on the blockchain technology that merges entire Latin America into a single economic space by enabling and facilitating trade across the Latin American continent. Using the decentralized blockchain technology, Utemis guarantees transparent and cost-effective transactions across the platform; a 100% refund policy for is offered to buyers who are not satisfied with the products. By trading on Utemis, users can also save as much as 99% of all the extra fees associated with international trade.
ICO update on Utemis
The Utemis token (UTS) will be launched for sale on the Ethereum blockchain using the ICO platform. The essence of the crowdsale is to raise funds that will be used to advance the development of the Utemis project. The Utemis token is an ERC-20 token compliant with the Ethereum blockchain. Accordingly, UTS would be issued in exchange for Ethereum during the ICO. The goal of Utemis is to create a single currency – UTS that will be recognized and accepted as a means of exchange in online business transactions all over Latin America.
The Utemis token ICO will be in three stages; the pre-ICO, the first round ICO and the second round ICO. The pre-ICO will start on the 15th of February at 18:00:00 Central European Time (CET) and end on the 1st of March 2018. A 50% bonus in tokens will be available for all investors in this period. The first round of the public ICO will start immediately afterward on the 1st of March 2018 and will operate for one month till the 1st of April 2018. A 30% bonus in tokens will be available to investors in the first round. The second round and presumably last stage of the ICO for the foreseeable future will run all through April 2018, from the 1st to the 30th day of the month. Like in the previous two stages of the token sale, a bonus reward is available for investors here. However only a 10% bonus is allocated. Additionally, bonuses also apply for all stages of the ICO depending on the amount of Ethereum invested.
According to Utemis’ CEO – Juan Pablo Vazquez, one trillion UTS were mined, but only 200 billion UTS will be issued in the public sale. 800 million UTS will be channeled into the company’s marketing campaign and the reward program for customers. The UTS will be traded at the rate of 1.5 million UTS per Ethereum. The minimum cap for the ICO is 0.05 ETH. However, there is fixed hard cap for the ICO; tokens will be up for sale until the supply cap is sold out. At the end of the ICO, unsold tokens will be burned by the company. Funds realized from the ICO will be allocated thus;
- 30% – operational expenses
- 70% – platform development
The company plans to expand beyond the Latin American market into the North American market with a five-year business plan that looks to accommodate millions of businesses on the platform includin USA.
Trustworthiness and reliability are the driving force of any business, through its decentralized platform built on the Ethereum Blockchain, Utemis provides an avenue for credible and reputable businesses to conveniently engage in trade. Essentially, Utemis is set to be to Latin America what Alibaba is to South-East Asia.