ENTRY is a blockchain-based banking service designed to increase the flow of cryptocurrencies in the real economy. It is an AI empowered multi-utility financial platform. ENTRY is designed to allow people to use fiat as well as crypto currencies in their day-to-day purchases without really having to be concerned about the technology behind the system. ENTRY envisions becoming a truly global bank in the post fiat world. Its entire framework is structured to enhance utility of all crypto Tokens and simultaneously facilitate all those who still want to transact in fiat. ENTRY’s suite of products allows it to touch the financial lives of every crypto user and change it for the better.
AIM
- To help cryptocurrencies achieve suitability for everyday transactions and open the world of crypto-finance to every citizen.
- To keep a transparent record of all the transactions in the ecosystem.
- To expand the use of cryptocurrencies for purchase and payments across the business world.
- To create a simple and all-in-one platform to revolutionize the traditional methods of dealing with banking systems.
- ENTRY’s suite of comprehensive banking products and services will ensure a new benchmark in banking and financial services.
PROBLEMS IN THE MARKET
- The intermediary will fade away: The fundamental value proposition of the blockchain is that it eliminates the need for trust — a commodity without which exchanges of value (transactions) cannot happen. This means that individuals and businesses can do away with a whole bunch of intermediaries whom they pay for managing trust.2 Bitcoin is just one application of the new technology (blockchain). The advent of cryptocurrencies has led to a worldwide boom where new innovations are being brought onboard, structured through pioneering crypto Tokens, to disrupt existing traditional industries.
- Surge in cashless payments: Global non-cash transaction volumes grew 11.2% during 2014-2015 to reach USD 433.1 billion, the highest growth of the past decade. Debit card and credit card transfers were the leading instruments in 2015, while check usage continues to decline globally. Debit card accounted for the highest share (46.7%) of the global non-cash transactions followed by credit cards with 19.5% in 2015.
ENTRY PLATFORM
ENTRY business model consists of 6 main elements:
- Entry.Money: Cryptocurrency and fiat payment gateway for e-shops. Personal and business account (deposit, withdraw, instant transfer cryptocurrency & fiat). Web and Mobile app versions. Debit cards.
- Entry.Exchange: Centralized and p2p ultra-fast and instant cryptocurrency exchange. High security standards, beginner friendly and worldwide supported service.
- Entry.Network: Open source code, wallet, custom blockchain, smart contracts, and custom Token creation platform.
- Entry.Bank: Blockchain technology enables fast and hassle-free cross border payments at a very low cost.
- Entry.Cash: Cash machine/ATM system. Transfer, cash out or top up with cash (using agents or cash machines). Payment gateway for POS (real shops, service providers). Payment cards will also be added in the future for ease of access for both fiat and crypto.
- ENTRY Token Will be used in ENTRY platform as main cryptocurrency. Used in other platforms as main or side cryptocurrency. Tradable in exchanges.
WHY ENTRY?
The global financial crisis revealed significant weaknesses in the existing financial system and some of the vulnerabilities have already exhibited their impact on the interconnected global market. The world economy is still struggling with sluggish real growth today. Transferring money for remittance, money lending across international borders is still very complicated, time consuming and expensive. Existing systems running on traditional banking channels are slow and full of intermediaries, higher exchange rates, counter-party risks, bureaucracy and extensive paperwork9 . ENTRY’s business model is focused on disrupting the existing pillars of finance who only act as toll-keepers without providing any value-add to consumers and businesses. Removing the numerous intermediaries would make the system faster, more secure and cost-effective for all involved.
Thank you for reading this project.
To know more about this project, you can visit:
- Website: https://entry.money/
- Whitepaper: https://entry.money/ENTRY_Whitepaper_v1.pdf
- Telegram: https://t.me/Entry_Official
- Facebook: https://www.facebook.com/entrymoney/
- Twitter: https://twitter.com/EntryMoneyICO
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1956531
Eth Address: 0xAb5501225C2E6c0500d6bc5Aaf419a9D34b40EB0