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ICO Review

UTIX ICO Review

Online E-Ticketing Platform

                                

 

TOKEN: UTX

COUNTRY: British Virgin Islands

WHITELIST/KYC: KYC & Whitelist

RESTRICTED AREA: USA, North Korea, Syria, Iran, Sudan, Bangladesh, Bolivia, Kyrgyzstan, Canada, China

UTIX ICO Overview:

“UTIX is an online, decentralized hosting and e-ticketing platform that utilises smart contracts to reduce market inefficiencies and provide event organisers with variables they conventionally would not be able to control. Users and event organisers can buy or sell tickets through cryptographic signatures stored on a blockchain that cannot be altered or destroyed, removing the requirement of centralized servers, over-reliance on costly third-parties and other negative externalities that arise through an unregulated free market mechanism.UTIX, through our own protocol, can lend tokens to an event organiser to be distributed to a user when a ticket to their event is purchased. Through our user-friendly interface, an event organiser/user will have all the functionality of a blockchain, without the added complexities typically involved. By utilising smart contracts, we can reduce complication, cost, and minimize the threat of fraud.”

UTIX ICO Value Proposition:

Indeed, there exists a clear value proposition for all groups to participate. Numerous events in varying categories occur across the globe. With UTIX in place, the process of purchasing tickets for varying events will become smoother and transparent.

UTIX ICO Team:

MAX MAYHEW/ CEO: The CEO Have relevant experience in Fintech and can be reached on LinkedIn.

Advisor:

The advisors have experience in industries associated with finance, ICO marketing and cloud computing. The team of advisors is very promising. In fact, they have a specialized advisor for each aspect of the ICO. The team looks well equipped with people from varying backgrounds leaving no stone unturned for the successful launch and implementation.

UTIX ICO Technology

FEASIBILITY:

Yes, the concept appears to be implementable. UTIX introduced the reserve fund which is why the UTIX token is required. It is a large token reserve, that lends the tokens to the event organizer to distribute to the users. When the event is finished, the tokens return to the reserve fund for the process to begin again. It is the first of its kind.

DECENTRALIZED:

Yes, there is a definite roadmap in place which is being followed and shall enable it to successfully revolutionize the e-ticketing disbursement sector. It will do so with the elimination of mediators and other negative externalities that arise through an unregulated free market mechanism.

INNOVATION:

“Yes their product is innovative and it utilizes blockchain at its core.
The blockchain is implemented with the facilitation of smart-contracts, placing certain variables throughout the e-ticketing purchase process that allow/disallow individuals from partaking in certain behaviors. The token allows these transfers to be instantly tracked, traced and controlled. Through the use of the UTIX token, we are able to control the secondary market, verify legitimate/fake tickets as well as enable stake-weighted voting mechanisms that allow the community to determine required changes to the model, platform and site.”

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