At the end of March 2017, the Estonian company Polybius Foundation announced the launch of the world's first digital bank, working with the use of a blockchain.
Estonia is known as one of the most digitized countries in the world. It even has the concept of electronic residency. Estonian residents are already used to the fact that all services and services are available online.
In theory, opening an account in a bank should not be more difficult than registering a mail box: fill out an online form, go online authentication and that's all. In reality, everything is still not so rosy: huge commissions, working hours, weekends, a lot of manual labor and so on. Looking at this, any technically advanced person had a thought in his mind about how to change this situation. Thus, the emergence of a modern digital bank was a matter of time.
As usual, the main factor is the human factor. There are too many extra people in modern banks. People who are engaged in checking and conducting transactions. Managers and clerks who serve clients for transactions that could have been done online. Asset managers, studying the market and trading. Even cleaners who are forced to clean every day huge areas of these offices and bank branches. These all are fatty items of expenditure from which one can and needs to get rid of.
In the new bank, everything that can be digitized - will be digitized. All the workflow in Polybius will be digital. Blockchain will be used for this: the technology itself provides a 100% guarantee that the particular information which was placed there at a specific time, will stay there and no chance of being erased or changed.
The budget for the Polybius launching is $ 6 million. To collect these funds, founders launched ICO.
ICO results and information about the bank can be found on https://polybius.io/
Currently Polybius' tokens can be bought on the following exchanges: Livecoin, YoBit, HitBTC, EtherDelta, C-CEX, Mercatox.
Current price of the token: https://coinmarketcap.com/assets/polybius/#charts
Article is based on the interview with the representative of the Polybius bank published on: https://bits.media/intervyu-s-predstavitelem-tsifrovogo-banka-polibius/