If you are reading this paper, you are likely to have some knowledge about cryptocurrencies. If not, you should do some small researches on Google to find out more about it. There are hundreds of articles and communities which will show you the way. You can head for some keywords such as ICO, bitcoin (BTC), Ethereum (ETH) and plus more. If you already did your homework, I can now explain to you why this post is written. Nowadays, ICO market is just like the Wild West during the peak time of gold rush. If you know the way, earning good money is not some difficult, but you have to find a good-enough project to invest in. Here is one of the promising projects that I am extremely excited to tell you: Forty Seven Bank
Introduce to Forty Seven Bank
Forty Seven Bank is a unique project built to create a modern universal bank both for users of cryptocurrencies and adherents of the traditional monetary system; a bank that will be acknowledged by international financial organisations; a bank that will correspond to all the requirements of regulators.
Forty Seven Bank will provide a variety of products and services to the private customers like the smart ATMs, transactions in both Fiat and Non-fiat currencies. Customer Relationship Management has changed the approach to customer service in the past. Similarly, the smart contracts connected to the banking services will lead to a new revolution.
Forty Seven is based on three principles: relevance, convenience, and security. The team specialists use up-to-date technological developments such as blockchain, biometrics, smart contracts, machine learning and many others.
Forty Seven Bank aimming to provide high quality, secure and user-friendly banking services for individual and institutional consumers, which will be fully recognised by the financial authorities and compliant with regulatory framework.
Features of Forty Seven Bank
– Transparency;
– Financial stability;
– Effectiveness and user firendly procedures;
– Security and privacy (data protection);
– Innovativeness;
– Customer satisfaction;
– Market share growth and worldwide expansion;
– Profit for all stakeholders
Apart from these unique services, Forty Seven Bank will also offer the basic services banks do; services such as giving out loans to their clients. In as much as this is a basic service, Forty Seven Bank will make it special by offering cryptocurrency loans to their clients. This will be a first in the financial world as no institution offers such services. Forty Seven Bank will also ATM services as normal banks do that will work together with their cryptocurrency gateway to make it convenient for their clients to withdraw fiat currency at these ATM points.
Benefits of Forty Seven Bank for business
Business products are oriented towards small and medium enterprises.
Manage accounts through the Application Programming Interface (API), creating financial applications.Receive payments from merchants in both crypto and money in fiat accounts (cards, SWIFT) using form or API.Bulk payments for the market.Loyalty management for clients uses large data.Factoring services based on machine learning and large data (artificial intelligent algorithms able to predict probability of loan repayment and timely repayment of the company)Escrow serviceA mobile app with biometric identification for multi-currency transactions.
Personal Opinons
For me, investment in Forty Seven Bank is a good decision. I will pick out some key points why I am saying that.
Forty Seven Bank has a potential concept and high liquidity of the tokens
The idea of this project is very clear and profitable, it is coming up to help us move away from outdated system by integrating them with newer technologies to meet the financial needs of clients which are becoming more complex by the day.
Strong team
The project will be underpinned by a holistic core and advisory team of proficient experts. They seem to be well-prepared to deliver fully working platform. A team of professionals from the worlds of banking, finance, and IT with expertise and experience in the creation and licensing of payment systems, and building of electronic financial institutions will work to realise the goals of the project.
Well-built website and whitepaper
The 71-page whitepaper of Forty Seven Bank project is available at . It contains the information about the problems and solutions offered by the team of Forty Seven Bank. In addition, there are paragraphs dedicated to the team, the platform, the roadmap and the details of token sales. This white paper is very nicely-designed with blue and white and the information is illustrated in details. Excellent. Besides the good whitepaper, the website is also very detailed, contains all necessary graphics and information about the token sale and the platform.
Forty Seven Bank is doing great with it social media channels
For the Facebook’s fan page, at the current, they have around 3200 followers. In addition, they have over10000 members in their Telegram group and more than 4600 followers on their Twitter. Facebook page is lively with new updates on progress posted almost every few days
Token Sale.
FSBT is the only official token of the project. The maximum total number of released token is 5 555 555 FSBT tokens and no more tokens will be issued.
By using the token, holders will be able to access loyalty programs provided by Forty Seven Bank and even win goods and services each year. It will also be necessary for developers to own FSBT in order to access certain services in the Forty Seven Bank platform. The FSBT will also be used for trading which means that Forty Seven clients will have a chance of gaining from the tokens. This trading will begin after the crowdsale is completed
The soft cap of the crowdsale is 3 600 ETH. and the hard cap for all stages is 18 077 ETH.. Investors can buy the token in ETH or BTC
ICO (main crowdsale): will happen until April 30, 2018. The estimated price of the token will be: 1 FSBT = 0.0047 ETH (including current bonus). More details about all bonuses on different stages catch in their whitepaper.
ICO Round 1: 30% bonus;ICO Round 2: 20% bonus;ICO Round 3: 0% bonus but bonus for quantity;
Tokens will be distributed in the following way: 90% of tokens will be sold during ICO procedure, 5% will be distributed as bounties and 5% will be left for Forty Seven Bank founders.
Conclusion
To sum it up, аs а pаrt of our review, we see strong potentiаl in this ICO. The concept of the project is very useful and potentiаlly very profitаble. With the tremendous backing of financial experts and enthusiastic people, along with the services and technology that the project evolves, the Forty Seven Bank project has a huge future awaiting. Get ahead and the scale of the project is not trivial. The Forty Seven Bank project will create an innovation in the financial world that will connect both traditional markets and the cryptocurrency market. At present, there are no projects capable of building foundation, supply and development projects like Forty Seven Bank.
The site’s design looks good and all of the information are provided transparently and with many details. Going by their strong team and extensive roadmap on the website, Forty Seven Bank definitely does not seem like a short term project, it is worth investing both from short аnd long-term perspectives
The sooner you will support the project by buying its tokens, the better price you mаy expect аlong with bonuses. So far, the platform looks promising with all the required areas covered. However, we advise you to invest carefully as there is no 100% guarantee on success. Also, the security market may sound a bit risky for some new investors.
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Interested readers can take a closer look at the following links:
Website:
Whitepaper:
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Twitter:
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Contact: maivanhien.2405@gmail.com
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The Reserve Bank of India [RBI] has declared that it will be terminating any sort of dealings or business with any individual, group/firm that has to do with cryptocurrencies; while proportionally it announces that there are plans set in motion to debut its own cryptocurrency.
bitcoin and cryptocurrencies in general have been criticized by India’s Finance Ministry for their lack of intrinsic value in the beginning of the year, and so many financial institutions based in India terminated or limited the flow of work for crypto-related accounts. In early February, false reports in the media of a country-wide crypto ban in early February led to a drop in the crypto markets.
RBI’s statement reads that although the technological innovations that support cryptocurrencies “have the potential to improve the efficiency and inclusiveness of the financial system […] Virtual Currencies (VCs] […] raise concerns of consumer protection, market integrity and money laundering, among others.”
“In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs. Regulated entities which already provide such services shall exit the relationship within a specified time.”
The period of time for which firms should relocated is around three months. As RBI regulates all banks in the country, keeping a bank account that trades cryptos will be very difficult.
While the RBI has criticized existing cryptocurrencies like bitcoin, it has expressed interest in the . Citing the escalating costs of dealing with, transporting, and producing physical money, it has suggested that it may develop its own cryptocurrency as a potential future solution.
If this does come about, the cryptocurrency would be state-backed and therefore act more like a digital version of traditional currencies – similar to e-Krona that the country of Sweden is which is supported on the IOTA platform.
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