To fully understand what trustverse is aiming to achieve, one has to understand the problems in existing financial markets. While asset management in relation to gifting and inheritance has become a major financial service, entry barriers are remaining high due to cost, time and effort required to understand complicated financial services and tax laws. Financial institutions don’t have much incentive to create easier products as that would make their consulting services void.
Even when individuals actually leave a hard copy of their will, it might be inaccessible to the inheritors because they didn’t share it in time or it is password protected. This might explain the many lawsuits fought by inheritors. When someone bequeaths cryptocurrency to their relatives but fails to share the private key, inheritors have no way of accessing the cryptocurrency. This problem hasn’t gained much attention yet due to the rather young crowd using cryptocurrencies, but it is likely to gain importance.
Despite inefficient asset management services in regard to inheritance, another big flaw negatively impacting retail investors is the difficulty of obtaining as well as correctly interpreting information concerning their investments. Information is spread very asymmetrically between different players in the market often leading to losses on the side of retail investors.
Trustverse is on a mission to tackle these problems. The AI and blockchain-based platform strives to create a “invest and relax” experience where investors get all the information needed in a comprehensible manner to make informed decisions. Ultimately trustverse aims to build a universe of trust, hence the name. To achieve their goal, they have integrated a variety of services into their platform, which are all namely represented by planets in the universe.
Jupiter is their Digital Asset Analytics service that helps traders navigate complex indicators and markets by providing a comprehensive outlook on the cryptomarkets similar to the weather forecast. When the market is bullish, Jupiter will show a sunny outlook while bearish sentiment will result in less friendly weather.
The wallet complementing the platform is called Mars and is providing users with control and transparency. Currently, users can use the wallet to store their Bitcoin, Bitcoin Cash and ERC20 tokens. In addition to enabling p2p transfers, the wallet also offers escrow services.
The third planet in the trustverse universe is Pluto. Pluto is a Wealth Management dApp helping people to properly take care of insurance and managing inheritances. The topic of inheritance is not frequently covered in the cryptocurrency space. One of the reasons is likely that it is still a very young industry and not many are thinking about what happens to their digital assets once they leave this world. Nevertheless, as we all know, once a private key is lost there is no way to access the crypto behind it. To prevent losses Pluto allows predecessors to define conditions in which private keys are released to inheritors with the help of smart contracts.
Trustverse is working on adding the next two planets, Mercury and Neptune to their universe soon.
It is worth highlighting that two of the offered services Jupiter and Mars have been integrated with the Samsung blockchain ecosystem making them more broadly available (Source).
In the trustverse patform, all services can be accessed via the trustverse token (TRV), which is used to pay for different financial services and to run smart contracts. The total supply of trustverse tokens amounts to 1 billion tokens.
TRV will be listed on Bitcoin.com Exchange on January 28th.
If you want to learn more about the whole trustverse, have a look at their whitepaper here.
TrustVerse is a blockchain-based wealth management platform and a digital asset distribution protocol, such as inheritance design that managed and distributes all digital person and proprietary information (such as iTunes, social media and subscription information) online as well as encrypted assets. When the transfer of managed assets and information is required, it can be delivered correctly to the designated party through a smart contract. TrustVerse’s asset management platform is powered by state-of-the-art AI deep neural technology and a multi-data financial portfolio optimization engine.