Forty Seven Bank - What if Conventional Meets Crypto Bank?


What do people think if our traditional banking transactions are centralized with conventional banks? The answer, is there anything strange about that? Of course not. So what if the use of decentralized digital money unite with the conventional bank? The result, you are guessing how the system will be later? It is not like that?

Currently, the use of digital or popular currencies called cryptocurrency, has become part of the change towards of a new civilization. High-mobility modern humans and the availability of a comprehensive and connected communication infrastructure, have been faced with a condition that requires the speed and accuracy of the data being transacted.

If a community uses a system or platform that allows them to conduct business-to-business direct transactions, how is the role of conventional banks of the middle? The answer is predictable. But its application requires a long way. From the start of the regulation, the system agreed to run, safe protection for both parties, commission transactions, until the completeness of features that allow being applied in the community.

According to this condition, then some information technology and finance company are created a great platform that works based on a blockchain system called Forty Seven Bank. This cryptocurrency bank combines two mainstream currencies. Digital and Fiat. The need for a business and the smooth flow of financial distribution became the main backbone of FortySeven Bank's philosophy. He is not only focused on financial problems, but also marketing, gaming industry, professional traders, to a product for developers

Forty Seven Bank will build a bridge between ctypto and the traditional financial world. They created an ecosystem in accordance with the Payment Service 2 Directive (PSD2) introduced by the European Commission which entered into force in January 2018. The ecosystem will operate on the full support of blockchain, contract smart, biometrics and machine learning technologies. Forty Seven Bank will be the first financial institution to provide full support for cryptocurrency that complies with the framework rules.

Forty Seven Bank's mission is to provide secure, innovative, and user-friendly services for financial and product services to individual, business, developer, merchant, financial and government-based customers. Their product range will unite the traditional cryptoworld and finance world and will provide new unique opportunities for both.

The way this system uses fintech app devices run by developer partners. And later, users will be able to downlod Forty Seven Bank application platform in all devices work and customer communication. For this, it needs an intermediary named token. This token can be double. As a currency exchanges tool that will be utilized by customers in the form of deposits and investment tools that can be traded in the exchange of digital currencies and conventional.



ICO of FSBT

Referring to www.fortyseven.io, they named their tokens with FSBT or Forty Seven Bank Token. How to work this token is you have to buy it first on their website, of course, this time is the best time for you to invest your funds to buy FSBT token. Why? Because, in the current ICO (Initial Coin Offering), the value is very affordable, and the supply is very much. Because of the limited number and the time of the ICO that is not too long, then if later you will have it, you must buy it in the coin market or in the bank, where they sell FSBT token products. Sure, the price will be exorbitant. Currently you can buy it with ETH-Ethereum or Bitcoin-BTC currency. If both currencies you still do not have, you are still free to buy in the very open coin market today.

What are the FSBT values if converted to the ETH cryptocurrency. The value is 1 FSBT = 0.00428 ETH (this includes the purchase bonus of the ICO period). Then, what is the value of the ETH currency if it is converted to USD? You can see it on cryptocurrency exchange. The number of FSBT tokens will only be produced as many as 11,063,829 FSBT. This amount already includes the bonus given during the initial purchase period.

The FSBT token holder will benefit greatly by becoming a bank's top priority client and will be awarded an annual loyalty to the FSBL token that can be redeemed at our loyalty stores into various products and services. On the internet, everything is available in a transparent manner, and it is worth your consideration before you decide to buy something on offer. The result? Depending on the number of participants involved in the platform's ecosystem. The more connected, the better results will be.

Roadmap:

October 2016Elaboration of concept of a modern bank that will work with cryptocurrencies and fiat money
February 2017Formation of a team, research, market analysis
March 2017Detailed project plan elaboration
April 2017Bank’s financial model construction, preliminary calculations
May 2017
Idea of administering project’s crowdfunding
June 2017Preparation of documentation for crowdfunding administering
October 2017Start of crowdfunding via Token Launch
December 2017Successful completion of Token Launch, summing up
January 2018Procedures elaboration and creation of document base for the company
February 2018Software infrastructure deployment
April 2018Applying for EMI, PI authorisation at FCA
May 2018Integration with SWIFT system
June 2018Certification according to QSA PCI DSS Level 1 standard
July 2018Obtaining EMI, PI licenses, and authorisation for activity from FCA
August 2018
Launch of services for FSBT tokens holders
September 2018
Launch of services for private clients
November 2018Submission of documents to obtain banking license
May 2019
Obtaining banking license, launch of services for business clients
June 2019
Start of providing full-scale banking services

Token Details:
Token
FSBT
Price
1 FSBT = 0.0047 ETH
Bonus
Available
Platform
Accepting
ETH, BTC, Fiat
Soft cap
3,600 ETH
Hard cap
36,000 ETH
Country

Useful Links:
Website: https://www.fortyseven.io/
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2225492
Whitepaper: https://drive.google.com/file/d/0BzvESRkgX-uDeHc1QjRzbHRBelU/view
Telegram: https://t.me/thefortyseven
Facebook: https://www.facebook.com/FortySevenBank/
Twitter: https://twitter.com/47foundation
Youtube: https://www.youtube.com/watch?v=Kgr9YxmmnBk

Author:
Name: Yuni Tango
Bitcointalk username: Arwani112
Bitcointalk profie link: https://bitcointalk.org/index.php?action=profile;u=1345832
Telegram: https://t.me/yunitango
ETH address: 0x150564A1Fbe12a1D03F74a2e152Fc7468b7Cd7bD
Forty Seven Bank - What if Conventional Meets Crypto Bank? Forty Seven Bank - What if Conventional Meets Crypto Bank? Reviewed by indo coiner on April 19, 2018 Rating: 5

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