I heard about Bankera after watching a few Youtube videos and I thought I'd share my opinion on this ICO.
Bankera aims to fill to void in the cryptocurrency market for a registered licensed bank that provides payment services, loans and deposits, as well as access to ETFs and cryptofunds.
Already, Bankera has the necessary regulatory and IT arrangements to offer individual international bank account numbers (IBAN) which can accept and make payments in the Single Euro Payments Area (SEPA). Bankera also offers international bank wires as well as having the “Bankera Payment Card” linked to cardholder’s payment account. After missing out on the Monaco and TenX ICOs, I'm hopeful Bankera can create a competitive crypto debit/credit card. However, unlike Monaco and TenX, this is only one segment of their business.
What Gives Bankers (BNK) Value?
- Each holder of Banker (BNK) tokens will be entitled to a referral commission, paid weekly; this will be constituted of 20% of Bankera and SpectroCoin net transaction revenue. This will be implemented by taking 20% of Bankera's and SpectroCoin's net revenues and sending them to the smart contract. I've only been invested in Bankera for 1 month and I have already received micro-payments, which I think is exciting.
- Additionally, Bankera's smart contract will distribute funds (Ether and XEM) to the holders of Banker (ERC20 and NEM mosaic) tokens pro-rata. Think of it like a rebate.
Although the development team is fairly young, they have some credible member on their advisory team. Foremost, Lon Wong, President of the NEM.io Foundation and CEO of Dragonfly Fintech which is based in Singapore.
The real issue, in my opinion, is the significant amount of money Bankera is trying to raise. After the Pre-ICO, ICO and SCO (secondary coin offering), the collective EUR raised will be 1 Billion, if all hard caps are reached. I understand that, as a bank, they need liquidity for issuing loans, but even this seems excessive. I would like to see a significantly larger team for them to be asking for this amount of cash. In their defense, unlike many ICO's stuck in development hell, Bankera has a working proof of concept in SpectroCoin. So I advise speculators to invest with caution and read through their whitepaper before making any decisions.
That being said, the pre-ico price is 0.01 EUR per BNK and rates increase significantly during the ICO and SCO.
I thoroughly enjoyed writing this ICO review and I've decided I'm going to do more in the future.
Till next time,
Gayboy