A banking institution is an institution that render financial services to ita users and customers. A bank is supposed to take care all financial transaction of its customers which invloves accepting credit and dispensing cash and loans and also safeguarding customers valuables such as jewellery, important documents, shares.
The use and function of banks are not limited to the above listed functions only, they cut across many uses they also include issuance of loans and overdraft, provision of debit and credit card and also for payment of utility bills
The bank is supposed to offer all these services seamlessly but its unfortunate that banks can not deliver this services well. Banks are plagued with some bottlenecks which does not afford them the space to render an exceptional service. Some of this problems include;
● Low cash Flow
● Low GDP
● Technology
● unavailability of banking services in rurual areas
● High cost of banking services
AZBIT PROPOSED SOLUTION TO BANKING LIMITATIONS
Azbit project is a new decentralized solution built on blockchain technology based on traditional financial services with the necessary legal licenses obtained in different part of the world.
AZBIT main target is to convey permission to the customary financial administrations of other digital money andsupporters of blockchain new companies and perceived organizations, isolated identities and crypto fans, just as to sustenance of all the Azbit bionetwork's offices and decline inward working costs and threats, in that route helping to upsurge income.
Azbit comes into the space with a unique features that will aid banking services with the integration of the multi-currency interchange azbit can support many cryptocurrencies and utility/security tokens and act as an asset investment platform with the use of Azbit.ID protected credentials structure.
One would love to ask how Azbit intends to actualize all this. The simple answer is that Azbit has put in place some mechanisms to aid this vision which includes;
B2B services, Fiat payments for Azbit facilities, offer Protective accounts, crypto currency backed lending portfolio.
Azbit project is a multi-faceted platform as a result will be possible to carry out any types of payment processing, with an exchange that support cryptocurrency tokens, promoting better banking services for the identification and security of the system.
AZBIT TOKEN DETAILS
Azbit token is the official token for the platform and azbit exchange. Which willbe used for paying for banking fee and paying for open market product and also for paying the exchange fee but all at a reduced rate.
TOKEN INFORMATION
Name of token- Azbit
Ticker - AZ
Platform - Ethereum (ERC-20)
Total Supply - 401 408 000 000
Token sale value - 1 AZ = $0.00012
TOKEN ALLOCATION
Total Percentage - 100%
Available for purchase - 60%
Project team - 15%
Reserve fund - 12.5%
Advisors - 7.5%
Affiliate program participants (bounty) - 3%
Airdrop - 2%
CONCLUSION
The use of blockchain in banking will further enhance the quality of services offered by the banking sector . Azbit wishes to see that the banking sector delivers high quality of services to its customers.
Website => https://azbit.com
Whitepaper => https://cdn.azbit.com/docs/en/whitepaper.pdf
Telegram Channel => https://t.me/azbit_com
Medium => https://medium.com/@Azbit_news
Bitcointalk Thread => https://bitcointalk.org/index.php?topic=4382120.0
Telegram => https://t.me/azbit_com
Youtube => https://www.youtube.com/channel/UCotNyvts6S3nvtQlQSIZhWw
Twitter => https://twitter.com/azbit_news
Instagram => https://www.instagram.com/azbit.news/
Facebook => https://www.facebook.com/azbit.news/
Bitcointalk User Profile => https://bitcointalk.org/index.php?action=profile;u=2539309
Bitcointalk Username => Abulu730