Introduction to Polybius

Polybius is a project currently in development by Hashcoins which has the aspirations of being the first ever fully functioning crytocurrency digital bank, with all the utilities of a normal bank. The Polybius team say some key features include the Polybius Foundation and the Digital pass. In their own words:

Polybius Foundaton is the subject fostering the Polybius Bank or Polybius Payment Instution (P.I.) at the start. Its customers will not only get access to a variety of financial services, but will likely be among the first to get the PolyID that will plug them into the Digital Pass environment.

Digital Pass is an independent environment as a service, which will serve as a storage for
encrypted individual information. The security of access to the information will be enabled by SSL certificates, dynamic PINs and, to some extent, by biometrical data. The security will be compliant with the PSD2 RTS requirements issued by the EBA Authority on 23.02.2017.

Will this be the next step from the hardware wallet? Who knows, but ignoring concerns of crypto centralization, this could be a step in the right direction in terms of ease of services.

Not another ICO!

Its no secret, ICO's (or Initial Coin Offerings) are a risky business. The potential of a project folding prior to launch and losing your precious crypto investment is always there. That said, this project looks like it may hold potential. Currently there is a +20% coin bonus to investors in the Polybius Token (PLBT), which will be available for trading upon the launch of Polybius. Holding these tokens will allow for dividends to be paid to shareholders at the end of the business year. A total of 20% of Polybius profits will be distributed to token holders and will be paid in Ethereum.

The current price of 1 Polybius token is 10 USD and does not have a limited token supply. The token distribution will be as follows:
Users: 93%
Founders: 5%
Bounties: 2%

My Concerns

Aside from the obvious risk of investing in an ICO, which you don't have to do in order to use the project upon release, I have concerns with the dividend frequency and the payouts being in Ethereum. There is no way of knowing what state Ethereum will be in 12 months after Polybius launches. Ethereum could easily dump in that time, or Polybius might fold prior to the end of the first business year leaving you with nothing.

For this reason I cannot recommend you invest in the startup unless you enjoy taking risks. That said, I definitely recommend keeping an eye on the project and seeing if the bank is something worthwhile. You can read more about the project here

Happy Mining!

Viking