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If there’s any term that has had massive impact on the financial service industry and the world as a whole it’s got to be the rapid development of technology. Technological advancements are always on the rising on the daily basis on the wide scale which has resulted in the expansion of institutional and individual consumers’ demand in ensuring particularized financial service providing and their regulatory stipulation.
In just a couple of years one of the most significant breakthroughs is expected to manifest in financial services technology with the trend taking a massive leap from centralized to decentralized markets being introduced by the European Commission with payment services directive (PSD) followed by PSD2 which comes into the scene in a year time. This gives or allocates the responsibility of granting access to various products and services via Application Programming interface (API’s) to financial institutions. There are now around 800 crypto assets which are worth a total of up to 150 Billion USD ACCORDING TO CoinMarketCap; and there is a projection that crypto-currencies could be valued at 5 Thousand USD by 2022 in market capitalization.
Based on this analysis, the International monetary fund (IMF) issued a statement which encourages financial institutions consider financial technology crypto-currency investments due to potential future exposure. Market potential have been fully and carefully assessed by the Forty seven team members alongside technological opportunities and they all came to an agreement of building an innovative specialized financial institution which would build a very effective and secure transaction unit between monetary economies and digital finance. Forty seven would be a fully digital innovative and branchless financial institution that complies with every single EU directives.
FORTY-SEVEN BANK’S PRODUCTS AND SERVICES FOR PRIVATE PERSONS
• Deposits and Loans
• Account Management
• Invoicing
• Investments and Brokerage
• Insurance
• Payments and transfers
• Payment history and analysis
• Cash withdrawals at Forty-Seven Bank Smart ATM’s and ATM’s of our partnering banks
• Smart support with integrated machine learning technologies
FORTY-SEVEN BANK’S PRODUCTS AND SERVICES FOR BUSINESSES
• Payment Processing and Invoicing
• Forty-Seven App Platform and API Management
• Payment Processing and Invoicing
• White Label Processing
• Financing and Factoring
• Biometric POS terminals
• ICO Services
FORTY-SEVEN BANK’S PRODUCTS AND SERVICES FOR DEVELOPERS
• Forty-Seven App Platform
• Bank as a Service (BaaS)
• Developer Meet-ups
• Consulting Services
• Loyalty Services
• Scoring, KYC and Compliance Services
• Data Analytics and Prediction Models
FORTY-SEVEN BANK’S PRODUCTS AND SERVICES FOR TRADERS
• Access to App Platform
• Account Management
• Access to Forty-Seven Bank Exchange
• Access to Exchanges
• Derivatives
• Analytics
• Smart Support
• Hedging
• Cryptobonds
• Cryptofutures
TECHNOLOGICAL FEATURES OF THE FORTY-SEVEN BANK
Forty-Seven bank has the following features;
• Cryptocurrency gateway
• Blockchain based cryptocurrency wallets
• Cryptocurrency payment system
• Emission of Price-stable Cryptocurrencies
• Whitelist and blacklist
• Person and Company Authentication Service
• API
• Machine Learning
• Biometrics
• Smart Contracts
Automation of Business Processes
Business Modeling Tool for Smart Contracts
Escrow Contract
Auction Contract
Loyalty Cards Contract
Rental Payment Contract
Royalty Contract
Contract Arbitration
FORTY-SEVEN BANK TOKEN (FSBT)
FSBT is based on the ERC20 protocol on the Ethereum blockchain and Future token holders can exchange ETH into FSBT through the system of smart contracts interacting with each other.
CRYPTO-CURRENCY WALLETS
A multi-currency wallet will be available to clients allowing customers of the Forty Seven bank to hold crypto-currencies in their wallet, monitor current balance, send and receive digital currencies with ease, request history of payment transactions. Customers will operate with crypto-currencies like they currently do with fiat currencies. Public and private keys will be safely and securely stored, execute transactions on block-chain and handle all other technical issues for customers.
API TECHNOLOGY
ICO
The Forty-Seven Bank Token (FSBT) will be given in exchange for Ethereum (ETH) and Bitcoin (BTC) at a price of 0.0047 ETH per token. The ICO round 1 will start on 16th November, 2017 and end on 16th December, 2017. Round 2 and 3 will be announced at a later date. The ICO hard cap is 36000 ETH while the soft cap is 3600 ETH.
Note that a Multi-Signature escrow wallet has been created so as to ensure that the community funds are safely kept.
BONUS STRUCTURE
• ICO Round 1: 30% bonus
• ICO Round 2: 20% bonus
• ICO Round 3: 0% bonus but bonus for quantity
TOKEN DISTRIBUTION
90% - Sold during ICO
5% - Bounty
5% - Founders
ROADMAP
• ALEKSANDS MALINS: CO-FOUNDER AND CHIEF EXECUTIVE OFFICER
• IGORS ASTAPCIKS: CO-FOUNDER AND CHIEF OPERATING OFFICER
• MIHAILS SKOBLOVS: CO-FOUNDER AND CHIEF FINANCIAL OFFICER
• VLADMIRS TOMKO: CO-FOUNDER AND CHIEF MARKETING OFFICER
• ARISTOTELES VARGAS: CO-FOUNDER MEMBER OF THE BOARD, HEAD OF TRADING, INVESTMENT AND BROKERAGE DEPARTMENT.
• ANTON AZAMATOV: CHIEF TECHNICAL ADVISER
• JEVGENIJS PLAMS: BLOCK-CHAIN DEVELOPER
• JEVGENIJS LESEVS: HEAD OF INTERNAL AUDITS
For more information:
WEBSITE: https://www.fortyseven.io/
TELEGRAM: https://t.me/thefortyseven
TWITTER: https://twitter.com/47foundation
FACEBOOK: https://www.facebook.com/FortySevenBank/
MEDIUM: https://medium.com/@FortySeven47
WHITEPAPER: https://drive.google.com/file/d/0BzvESRkgX-uDeHc1QjRzbHRBelU/edit
ANN THREAD: https://bitcointalk.org/index.php?topic=2225492
Published by: mcdreamy
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1195567