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Global fraud has reached epidemic levels, now exceeding $3.2 trillion annually.
In the UK along it is estimated that if organisations were to step up efforts to tackle fraud the economy could be boosted by up to £44 billion annually.
Fraud comes in all shapes and sizes but in almost all case the fraud could be avoided if the reputation of the parties involved and the transactions between them could be verified trustlessly, which is why we believe blockchain and the Kuverit application hold the solution to many of fraud’s entry points.
A key focus for our business model is P2P scams, that racked up more then $120 billion in 2018. The lack of trust in cross-border e-commerce, P2P and online markets is one of the leading causes of friction between buyers and sellers worldwide.
We have evolved into a greed driven commercialist society where fear and distrust overshadow every transaction and interaction that has the potential for financial loss.
We are giving everyone with internet access the opportunity to get a guarantee for any two-way transaction. Whether you are a service provider or contractor, business or customer, the Kuverit application lets you enter into an agreement with anybody at any time, assuaging any new buyer anxieties and risk factors.
Benefiting both buyers and sellers, how it works is simple: a user creates an account on the Kuverit application, enters details of what they need to be guaranteed for - and how much – whos reputation the guarantee is based on, and then posts their request for a guarantor to the trading interface.
A guarantor can scan open contracts to find one that suits their risk thresholds, they enter fee bids on the listings, and when the fee bid is accepted by the requesting party a smart contract is created between the guarantor, the client (who is tending the service) and their customer.
The Kuverit Application is designed to reduce P2P Fraud and create trust between users, unlike most blockchain projects Kuverit has no intention of ring fencing itself into the still fledgling blockchain arena.
Kuverit has a global mainstream vision for its P2P application, the first step toward achieving this is our engagement of one of the world’s leading marketing companies Splash Worldwide who are used by multiple fortune 500 companies around the world, a brief introduction to their plan for Kuverit can be found in our whitepaper.
To learn more about how this procedure works technically, go through the Whitepaper linked above
The Kuverit ECO System provides a new way to monetize ones crypto holdings.
Kuverit is a mutli trader platform for the buying and selling of guarantees and creation of Kuver Pools.
Tokens holder holder can profit by staking their tokens on people reputations and providing guarantees. For example, if a user had $1,000 of KUV tokens they could stake their tokens on a $500 guarantee and charge a fee of up to 5% for doing so.
Token holders can also become voters and earn more tokens each time they Cast their vote on a claim, they can also become auditors and master auditors all of which allow them to earn more KUV tokens.
KUV Token holders can create Kuver pools for any niche and earn a small percentage of the monthly subscription fees paid into that Kuver pool by network Members.
Tokens holder can join together and pool their resources into co-op pools allowing them to provide be guarantor on much higher value guarantees, co-op pools will provide guarantees to clients needing to protect transactions worth tens of thousands or even millions of dollars, the fees charged for these guarantees would be shared among all co-op members.
All of the above leads to an increased demand in KUV Tokens and thus to a higher price per token.
The company itself makes profits by taking upto 10% from every guarantor fee and a small % from pool subscriptions.
Kuverit's team members.
Founder & CEO
Advisor - Contributor Committee NED
Advisor - Contractor
Co- Founder & Finance Director
Solicitor - Legals
Advisor - Marketing