The modern Banking system is a complex of institutions that adhere to a single monetary system in their work. This system includes the Central Bank, commercial banks and credit institutions. In developed countries, the banking system has two levels:
- Upper - Central, national Bank
- Lower - commercial banks
In the banking system, there are serious problems that fully affect their customers, users and relevant to this day. Main problems:
- Small credit institutions, which are difficult to control, they can cause damage to the state and its customers
- Uneven distribution leads to difficulties in performing financial transactions.
- Refusal to obtain a loan due to lack of necessary documents.
- The presence of intermediary institutions leads to high interest rates.
From this we can conclude that the banking system is imperfect and requires a full upgrade.
Over the past few years, the entire population is gradually beginning to store money in a variety of digital wallets, which in truth do not give confidence, but the appearance of the cryptocurrency has completely started to change the financial world and attitude to banks.
The development of digital currency is progressing at a rapid pace, offering every day a new project with its ideas and proposals. But as they say where the money - there are scammers. People need financial security and a variety of financial offerings that can really be useful. Requires a banking institution that performs the functions of a Bank in a virtual network.
The solution to the problem - World Bit Bank.
The project completely reverses the current banking system and translates it into a virtual space. The world's first cryptocurrency Bank is a really big progress in the world of digital currency. The use of blockchain technology by the World Bit Bank project facilitates financial transfers, provides a full guarantee of the safety and security of your investments.
The current banking system of money transactions and transfers does not satisfy the majority of users and customers, as it charges a subscription fee for the use of the system and exposes a large amount of Commission. The project solves this problem through the use of digital technologies and the introduction of cryptocurrencies.
Deposit storage in the form of cryptocurrency is a very complex and time-consuming process, which requires an individual approach. Customers and users of World Bit Bank will be able to use the full package, similar to the current banking system with a variety of cryptocurrencies.
World Bit Banks own debit card and WBB Wallet smartphone app will give you the opportunity to make payments with cryptocurrency, including the ERC20 standard. The main means of payment for the project will be the WBB token.
The security of the project and monitoring of customers, users performed rigidly, using the procedure of KYC. This is the process of identification of personal data, when the client (user) is required a number of documents confirming his identity.
The unified database of clients personal data provides a kind of chain, for which a private block chain World Bit Bank is created in the future. Access to it can be obtained personally by the client and the banks that are part of the WBB. The use of blockchain gives us complete security and simplifies many processes, thanks to it we can find out where the money came from and where it was transferred
Smart contracts give us the transparency and confidentiality of cooperation between the project and the customer, request the terms of the contract, make sure the delivery of the goods, confirm the payment, etc.
What does World Bit Bank offer us:
- No restrictions in terms of cooperation with clients;
- Instant financial transactions and transfers;
- Debit card WBB, which supports most ScriptResource;
- Easy to use interface;
- Full control of funds by the client. The use of which is impossible without its approval.
- Low transaction fees;
- High security and transparency of operations through the use of blockchain technology;
- KYC
Conclusion
The project is really with great prospects, because in the age of new technologies it is necessary to keep up with the times, which they do. Digital currency is really in need of secure storage, such as World Bank Bit.
More information you can find on these links:
Website: https://wbb.io/
Bitcointalk Thread: https://bitcointalk.org/index.php?topic=3206437.0
My bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1184171