It became challenging over the inconveniences arising in the platform of securing transaction unit between monetary economies and digital finance.In the light of this, Fourty Seven Bank came up with the idea of this platform https://www.fortyseven.io of which creates innovative, flexible and open Application Platform for financial technology developers, who will be able to operate under the roof of Forty Seven Bank, having access to banks infrastructure and customer base. Check out the whitepaper:
With the promise of giving access to developers with small or medium capital to create white label applications which will be able to compete with traditional banks. Fourty Seven Bank as a Service (BaaS) solution will disrupt financial sector of the European Union by reducing barriers to entry the fintech market.
Fourty Seven Bank is Aiming to provide high quality, secure and user-friendly banking services for individual and institutional consumers, which will be fully recognised by the ¬financial authorities and compliant with regulatory framework. The image bellow illustrates the product.
Based on the advertised fundamentals, the team members of Forty Seven Bank have carefully assessed market potential, technological opportunities and came to an assertion of building an innovative specialized ¬financial institution, which would build secure transaction unit between monetary economies and digital finance.
The Aim of Fourty Seven Bank To Cryptocurrency
The main Vision is to make fourty seven bank is to be stable in a state whereby it will stand as an institute of finance, operating digitally with the recreation in a branchless mood. It will also support the operation of cryptocurrencies and also traditional fiat currencies.
Fourty Seven Bank also empowers Multi-Asset Account as one of the featured innovative products. It will allow customers to have access to all their accounts in different banks and crypto wallets as well as to their investments and savings in cryptocurrency and f¬iat equivalents via single application. It will be possible to operate with each asset type accordingly by having only one Multi-Asset Account at Forty Seven Bank.
Forty Seven Bank as an Innovative Financial Technology
Aleksandrs Malins the CEO of Fourty Seven Bank working with it's creative team are aiming to provide high quality, secure and and easy to understand banking administrations for individual and institutional consumers, which will be completely perceived by the financial authorities and compliant with regulatory framework.
Fourty Seven bank is going to be specialising in digital finance accommodations by plenarily fortifying cryptocurrencies and traditional fiat currencies. Rudimentary cryptocurrency procedures include sale and purchase features, investment and exchange options and crypto-preserving and current accounts. Multi-Asset Account will be one of the featured innovative products oered by Forty Seven Bank – it will sanction customers to have access to all their accounts in dierent banks and crypto wallets as well as to their investments and savings in cryptocurrency and fiat equipollents via single application. It will be possible to operate with each asset type accordingly by having only one Multi-Asset Account at Forty Seven Bank.
One of the call goal of FSBT is the assurance of security and proper storing of the public and private key.
This is stated here in the chart below, or find out here via the WhitePapper.
Fourty Seven Bank ICO
- Abbreviation: FSBT.
- Control over emission: is provided by the system of interconnected smart contracts.
- Actual rate: 1 FSBT = 0.0047 ETH (including current bonus).
- Maximum amount of tokens to be generated: 11 063 829 FSBT (incl. bonus tokens, tokens for bounty and founders).
*Softcap: 3 600 ETH.
* Hardcap: 36 000 ETH.
* Accepted currencies on ICO: ETH, BTC.
* ICO: now – 31.03.2018.
* FSB Current token bonus:20%
* Rates (incl. bonus): 1 FSBT = 0.00393 ETH & 1 ETH = 254.4 FSBT
* <10ETH = 10%
* ≥10 ETH = 15%
* ≥25 ETH = 20%
Investors whose investments start at 10 ETH equivalent, will be able to withdraw their cash in any ATM in the world without any withdrawal fees during the established period of time, depending on the amount of investment.
Finally, huge investors (starting at 100 ETH) won’t be charged with any fees or commissions for using banks services and products forever.
It looks like it is very beneficial to become Forty Seven Bank’s contributor. According to its investment terms, nobody leaves this ICO empty-handed. This bank not only gives a real solution on how to monetize your crypto assets, it also decently appreciates its supporters, and offers them beneficial terms to share the future success of the project together.
The initial price of the FSBT token is quite high (0.0047 ETH) and if the project won’t collect its hardcap, value of the token will definitely increase. And taking into account the speed of project’s earnings, there are all the grounds to consider that it won’t sell all of its tokens. This fact can mean more profit for token holders.
Key benefits for token holders:
- FSBT token holders will receive exclusive rights to be part of bank’s loyalty program. They will be able to receive a part (depending on the token amount they hold) of 20% of Forty Seven Bank’s annual net profit in FSBL tokens. Afterwards, they will be able to exchange received FSBL tokens for various services and products in the bank’s Loyalty Shop.
- Developers with at least 1000 FSBT tokens will have the option to launch their App at Forty Seven Bank Platform.
- Token holders will receive numerous discounts and special offers on Forty Seven Bank’s services and free online banking products.
- They won’t pay any fees for using their Multi-Asset Account. Additionally, will receive increased cashback repayments for using bank’s debit/credit card.
The important fact, as for me, is that the founders of Forty Seven are concerned about their tokens’ value. That’s why they are going to put all their efforts to create a high demand for their tokens on secondary market in order to ensure their growth in the nearest future and make token’s price more resistant to market’s constant speculations.
Honestly, personally for me, such terms and privileges sound great. Investing in Forty Seven, I receive not only its tokens but also full package of rights, and can expect on annual dividends like the real investors do.
FortySeven Bank is its independent assessment by websites, providing ICO ratings. Exploring some of them I found that it has quite high rates.
