When people are asked about the banks, they would usually imagine old buildings, a conservative policy and a lot of paperwork. Banks are institutions that have the power over societies, governments and economies. For centuries banks have been playing the role of both the court and church in the capitalist system. This industrial age cliché is about to change.
One key factor that shapes the information age is the accessibility. The easier is to connect and use the service the more potential it has to offer. Mobile messengers today are the most accessible and easy to use services. They are almost like the complete opposite to the traditional banking platforms, which generally are not really user-friendly. The rigidity of banking platforms is mostly due to security. With the blockchain technology that has been solved. Now we can think further to extend the accessibility and usability.
We undertook a creative challenge to bring together these two very opposite technological perspectives of banking and messaging and combined into Xmoneta ecosystem. This combination also needed to address the actual trends in both these fields and needs of the users. For that, we reshaped the very definition of what is the bank. No one pours new wine into old wineskins, as they say. Today most people don’t recognize that banks primary business is making money for the bank and not serving to the costumer’s money and interests. They can block your account and basically do anything that they want with your earnings. Banks can and do influence not only the lives of the individuals but also the macroeconomics. While people have bought into an idea that bank is just a place to keep the money because it’s safer than at home.
Nowadays, when we have money mostly in the digital format the argument of a safe storage can be solved outside the traditional banking system. And technically it’s much safer to keep it on the blockchain encrypted wallet that is also protected from different sanctions. Therefore, we want to move with Xmoneta towards a bank as a service, that serves the costumer’s money and provides various fin-tech offers.
Traditionally banks and charity foundations are separated entities and jet the bank can provide a valuable channel for the donations. We see them as indistinguishable to be in one place. Also no bank would offer an opportunity for the client to actually earn the money. In Xmoneta it will be possible also to earn the tokens with your content, activities, adds, etc. So as the trading platform will be a great asset to earn with cryptocurrencies and fiat. Even more, the crowdfunding hasn’t been utilized by banks and we see it as a driving force for the innovations that will be part of our platforms service.
Xmoneta is designed to support fully mobile lifestyle for the entrepreneurs, start-ups, traders, shop-owners and everyday users for the daily communication and transactions. All you need is your smartphone with the Xmoneta app inside to complete the payments without distracting from the messaging. In our app are included Quick Pay, QR Code Payments, In-App Web-Based Payments, and Native In-App Payments. It has all the necessary features for different payment cases. Every Xmoneta user can use his or her bank accounts (IBAN, debit cards, etc.), exchange currencies and pay with them. There will be the Xmoneta plastic card that allows to switch between the crypto and fiat!
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Our bank will support traditional fiat currencies together with crypto's like Bitcoin, ETH, DASH, NEM and so on. Xmoneta Bank will use all the latest banking and Internet-of-things technologies with a set of services that will disrupt the financial industry.