In the era of "all-digital", the concept of neo-bank is becoming more and more attractive. Between the ergonomic interfaces, often dedicated to smartphones, and a disconcerting ease of use, this new type of bank appeals more and more to new generations. This is how Hush plans to create a community neo-bank that includes all the services that "2.0 users" can dream of. Overview of a new project made in France!
This is a sponsored article as part of the project's bounties campaign.
Hush: cryptobanque 2.0
The bank account
One of the most interesting aspects of Hush is the presence of an IBAN account and a cryptocurrency wallet within the same offer . It will thus be possible for users to easily change their cryptocurrencies in euros , daily and without hidden costs. For now, Bitcoin, Dash and Ethereum (including all ERC 20 tokens) are expected on the platform.
Hush's main account is an ibanised account (in euros). Its functionalities are classic (management of withdrawals, transfers ...), but it is also possible to create "project accounts" . These accounts can be shared and will finance your projects to several , halfway between the savings account and private crowdfunding.
In order to better control their growth and the needs of KYC, account openings (euro or crypto) will be by invitation and sponsorship , until reaching the first thousands of users (so the first year of its existence).
The withdrawal card
We told you, Hush wants to be "bank 2.0" . And we can not consider a "real bank" without a credit card offer. To that extent, Hush has made the application for a Mastercard Master Issuer License . This means that the proposed cards will not be the usual "prepaid cards", but standard debit cards .
One of the very interesting aspects of this card is that you will be able to choose to withdraw euros via your cryptowallet . No more long handling where you have to change your cryptos in euros, then send them to your account, you just have to adjust some parameters and Hush will convert your currency for you at the time of withdrawal!
Tokenization of a neo-bank
The utility token USH
Hush leaned on crowdfunding to give life to the project, in order to strengthen the image of a community bank . This is how their token will be born: USH .
The USH token will give you the right to participate and contribute to the project . In addition, these tokens will be part of the means of payment proposed by Hush for their service. Paying with these tokens will give you a 50% discount on commissions !
Finally, these tokens will allow you to be part of the various loyalty programs offered by this neo-bank, which reward the most active users in the Hush Ambassador program . This willingness to retribute to deserving users adds a human dimension to the bank , which is not displeasing to us.
The ICO
The pre-ICO will start on January 22 , but the public opening of the ICO will be on February 12, 2018. The ICO is scheduled to be closed on March 4, 2018 .
60,000,000 USH will be created through a smart contract ERC20 on the blockchain Ethereum, by the company Hush, in order to finance its development.
Of these 60,000,000 USH:
5% will be stored as "exceptional reserve" in case of accident, economic crash, hack ...
15% will go to founders, advisors and partners to reward their contribution to the project.
10% will be dedicated to marketing, bounties and others.
70% of the tokens will finally be distributed to the contributors of the ICO .
The token will be offered at a single price of 0.70 € / USH , and the ICO has a very reasonable hard cap since the project will raise a maximum of 10 million euros . Hush will not be confronted with the painful problem of overcapitalization .
The official launch of Hush is scheduled for September 2018.
Who is in charge?
The founder of the project, Eric Charpentier , is not at his first attempt at the creation of a bank. His previous project was also a neo-bank very similar to Hush baptized "Morning" , which however did not have all the cryptocurrency aspect that makes all the interest of this new project.
The project was a success , and will have resulted in obtaining a Mastercard Master Member license , but also a license to establish payment with the ACPR. The legal framework has no secret for the founder of the project, which evolves here in known terrain .
It is our colleagues in Bitconseil who took care of the "token design" , and the ICO is supervised by Deloitte, an international audit firm that for the first time communicated on an ICO relaying that of Hush .
Our opinion on the project
We could see in Hush nothing less than the future of the banking system . Neo-banks have done a great deal of harm to traditional banking institutions and "tokenization" may suggest a version 2.0 of these neo-banks. Hush is also against the trend of conventional ICO, voluntarily limiting its hard cap to "only" 10 million euros , reassuring element for any investor. The concept of cryptocurrency being intrinsically linked to the community, it is pleasant to see banking offers putting the user at the forefront of all considerations . Finally, if Eric Charpentier has already conducted a "Neobank 1.0"on the road to success, why would he fail for a "neobank 2.0" ?