An open platform for fintech developers and organizations, offering products on the blockchain that enhance the application of services in the financial technology market, with the ultimate goal of providing an innovative and customer-friendly banking service that gives the user control over their funds, fiat or otherwise.
The most important objective of this token is simply about ”uniting communities”. Forty Seven Bank (FSB) aims to create a cutting-edge, customer oriented platform that developers can use to create white label applications and directly offer services similar to traditional banks to users. The main focus of this platform is to push forward financial technology innovation by providing access to an advanced banking infrastructure. The goal is for this system to disrupt the current barriers of the financial sector, starting with the EU and to propagate the adoption of the fintech market among its growing customer base, and permit an ease of fund transfer across the world and between individuals.
Why do we need a reinvented banking system? FSB believes that the banking services currently offered can be improved upon significantly with the progress made in blockchain technology over the last 10 years. Their plans include the development of products such as API management for trading platforms, biometrics and machine learning integration to improve areas such as fraud detection, increase security across the platform and ultimately provide customer satisfaction. The white paper and roadmap highlight plans to start accounts where fiat and non-fiat payment services and products can be provided using depp integration of smart-contracts and helping to increase adoption of digital assets in the financial market.
The executive team is predominantly comprised of Latvian finance and IT experts, with the co-founders Alexander Malin (CEO) and Igors Astapčiks (COO) going way back. Together they have founded and managed projects such as iAMworks and Bilderliys Pay in the past; with 16 collective years of experience in the financial and payment industry, they seem to be quite capable of delivering on the promises with the right execution and the help of the exec team. FSB have already claimed partnerships with the likes of Microsoft Azure, the cloud based platform for creating apps and AI services worldwide, which should be integrated into some of their future products. Also, they have partnered with the crypto-currency Revain and its CEO Rinat Arslanov who also is on the Advisory Board and have listed plans in the roadmap to establish a full-scale banking service by 2019 via integration with the SWIFT system.
With a max supply of 11,063,829 FSBT tokens (includ. bonus, bounty and founders tokens), this is one of the more lucrative tokens that will be in high demand in the near future once the platform launches. Currently, contributions are accepted in ETH & BTC with conditions for bonuses listed on the website. Detailed information on the softcaps, hardcaps and min. Contributions can also be found at https://www.fortyseven.io . The ICO is set to end on the 31st of March, 2018.
Well communicated ideas in combination with a capable team, visionary sector development and professionally presented documents, website and marketing strategy certainly make Forty Seven Bank a project that is worth considering as an investment.
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1387958