Utemis is the first of its kind blockchain based business to business e-commerce infrastructure that decentralizes businesses’ reputation and merges the entire Latin American continent into a single marketplace. The platform is decentralized, autonomous and frictionless. The Utemis project was founded by Dr. Juan Pablo Vazquez Sampere and it is backed by an advisory board and a team of experts with extensive professional knowledge in banking, finance and IT. Utemis will operate like the Chinese e-commerce giants, the Alibaba group. Here however, South East Asia is Utemis’ Latin America.
Utemis will use the cryptocurrency blockchain to provide an economically vibrant and efficient business landscape in Latin America. The cryptocoin that fuels the business to business network is an ERC-20 standard token called the Utemis token – UTS. The token will be used to establish objective business reputations, beyond the regulation of the government, Central Bank or any other regulatory authority. Utemis will generate revenue from advertisement on the platform, transaction fees charged to customers and management of the escrow account. The ICO of Utemis token is in 2 phases, the first phase will end on the 1st of April 2018 to give way to the second phase of the ICO which commences on that same day.
Features and services
- Utemis uses an escrow account to protect the buyer. All purchases are locked in an escrow account and in the event of a dispute or something else, the buyer is guaranteed a 100% refund.
- Utemis introduces decentralization of companies’ reputation to boost trading efficiency and subsequently grow the economy of Latin America.
- The Utemis platform utilizes an autonomous system independent of the deficient and bureaucratic nature of Latin American governments.
- Utemis promotes and accelerates the growth of small businesses through its decentralization of merchants’ reputation using the smart contracts of the Ethereum network
- Most Latin American banking policies favour the charging of high bank commissions to customers. Utemis creates a platform that eliminates the need for the use financial institutions in transactions effectively cutting off transaction costs.
- Utemis provides a solution to expensive currency exchanges via the introduction of the Utemis token that is not subject to government or central bank regulation.
What makes Utemis unique?
- With Utemis, customers will be able to access merchants from all over South America from a single platform.
- Utemis guarantees its customers instant payments at a fraction of the transaction cost in traditional banking operations.
- Customers do not have to worry about being defrauded as funds are held in an escrow account and only transferred to the seller on the confirmation of a successful transaction by the customer. If something goes wrong, 100% of the money is returned to the customer.
- The trustable blockchain holds a publicly accessible record of suppliers’ and consumers’ reputations. With this technology, only trustworthy and credible businesses will thrive on the platform.
Utemis has the potential to address the inefficiencies of the Latin American marketplace to create a flourishing and secure economic space in Latin America.