AI BANK PROJECT REVIEW

Invented back in 2008, the blockchain technology has depicted the change that it can bring in different business areas. The technology, even in its infancy, has disrupted different industries and sectors. Various features of Blockchain such as decentralization, immutability, and transparency make it appealing for business sectors and domains all across the world. One such industry that is leading the way in exploring the potential of blockchain is the banking and finance industry.

With the basic understanding of blockchain technology and its working, the real question that pops up into our minds is Blockchain really useful for the banking sector? If yes, then how can we utilize Blockchain in the best possible way for the industry? And most importantly, is blockchain here to stay or go?

According to a claim by the Harvard Business Review, blockchain will do to banks what the internet did to media. When it comes to banks and financial organizations of this day, Blockchain has the potential to solve a lot of problems. Blockchain technology possesses all the attractive characteristics needed by a reliable technology involving money matters. It is safe, secure, decentralized, transparent as well as relatively cheaper.

Blockchain provides a very high level of safety and security when it comes to exchanging data, information, and money. It also allows users to take advantage of the transparent network infrastructure along with low operational costs with the aid of decentralization. These characteristics make blockchain reliable, promising and in-demand solution for the banking and finance industry.

Financial institutes perform the necessary function of keeping money safe and secure for people and therefore, the processes in place require a lot of mediators. The involvement of these mediators is what makes the industry more expensive. Moreover, with the involvement of too many people and manual processes, the chances of errors and frauds always increase. Blockchain technology aims to do the heavy weightlifting by securing transactions and making the overall customer experience more satisfactory and less money consuming. Now lets take a look into AI BANK PLATFORM

AI BANK PLATFORM

The AI Bank, is a decentralized bank with artificial intelligence. the team has created a completely decentralized global financial entity, the bank, aim to revolutionize the areas of banking and finance. It’s a completely new idea that many have called the next step in financial evolution, while others consider it to be a reflection of current norms and a culmination of recent technological trends and advancements. However, the general consensus appears to confirm that the idea of a decentralized bank that entirely operates with artificial intelligence is highly ambitious.

The idea for the AI Bank has been influenced by one Mohammad Yonus. Yonus, creator of the Grameen Bank, changed the way banks perceived loans and established the basis of microfinance. Although his ideas have helped many people, more evolution is needed to bring banking services to people that still cannot find their way to finance solutions. The only to do so, as per the AI Bank and many leading experts, is the complete decentralization of the banking process, something that allows the customers to initiate complete control and completely do away with human involvement. The results are not just efficient and entirely free of human errors, but they are also very fast. That’s just what the AI Bank is going for. AI Bank is based upon a completely non-profit ideology that aims to deliver the chance to avail microfinance opportunities to anyone around the world. The aim behind the bank’s services is to make use of the blockchain and offer microloans using the blockchain’s decentralizing features to bring microloan opportunities to those that need it, without any human participation whatsoever. The AI Bank understands that for the world of banking and microfinance to move forward, a completely uninterrupted and focused service needs to be introduced that gives control to the customer rather than organizations. That’s exactly what the blockchain offers, with artificial intelligence powering the transactions and loan procedures.

The AI Bank is a highly ambitious project that aims to not just revolutionize and change the financial world, but also bring about positive change for humanity as well. It’s a non-profit start-up that aims to empower people who could not normally avail financial opportunities, with microloan and banking services that are aimed to help them in their work, their lives, and also improve their living conditions. The AI Bank hopes to be the change that it feels the world needs right now not just to change, but also to improve. It’s an ambitious project that brings its weight with focus towards human needs and solutions that aim to satisfy them with exemplary service.

Autonomy

It doesn't matter during which jurisdiction the consumer is found.

All processes are fully automated.

A bank will settle for and issue cash in any currency of the globe and main cryptocurrencies.

Providing funds

Since the classification system are going to be supported AI, its use will be identical to banking conditions. At identical time, the risk of non-return will be reduced from the risk of 10% of MFIs to the risk of 2% of our product which will work

on artificial intelligence.

Speed

Traditional loans square measure issued in 1-2 applications for 2-3 documents.

Recent studies claim that AI will already assess individuals higher than individuals themselves do. Therefore, the verification of documents becomes a formality.It is way more necessary to guage what someone is

Scalability

The loan market is growing and also the project will certainly be in demand and knowledge growth. This, in turn, can result in birthing the muse for growth and development in it as before long as potential. We are already laying the potential for growth and the possibility of scaling up a business. Since it'll be absolutely machine-driven, there'll be no extra prices for reconstruction the business model.

Ecosystem

In order to solve many problems with the current microloan market, AI Bank offers its own

ecosystem that is not guided by commercial interests but is designed to provide a complete

alternative to global financial systems. AI Bank, like other blockchain systems, directly links

supply and demand without the need for intermediaries.

The internal system operates in accordance with certain rules, restrictions, and norms.

The external ecosystem is supported by such layers as:

Scalability. Income from the financial activities of the Bank will continuously increase its assets

in order to increase the number and value of loans in the future.

Autonomy. Resistance to external forcing through decentralization. Without departments, staff

and any attachments to the material world, the system will not interact with external influence.

With the help of dynamic web landings, filing an application will be possible from any device

and from any country.

Performance. Machines are faster and more accurate than humans. Due to coherent algorithms,

any decision in the AI Bank system is made in real time.

Transparency. On-chain transactions recorded in the public registry will take place in the system.

The data that is not a banking secret will be opened for viewing but saved using cryptography.

About The AIB Token

AIB Utility Token
USD 0.05 the price of one AIB token
Emission: 856,750,000 tokens
USD 250,000 private pre-sale of tokens, 5,000,000 tokens
Bonus with a private pre-sale of 35%.
USD 2,000,000 Soft Cap
USD 30,000,000 Hard Cap

Token Distribution

Public tokens (private sale, ICO) – 70% – 600,000,000 tokens
Economic reserve – 10% – 85,000,000 tokens
Advisory – 5% – 42,500,000 tokens
Bounty – 5% – 42,500,000 tokens
Partnership – 5% – 42,500,000 tokens
Marketing – 5% – 42,500,000 tokens

Token Sale Details

The crowdsale of the AIB token will be conducted in two stages: Private Sale and ICO.

Everyone is allowed to participate in both stages without any restriction, but there are significant

differences in the details. “Soft Cap” means the minimum amount required for the

implementation of the AI Bank project. “Hard Cap” is the maximum amount of an AIB token

that can be sold. The emission of the AIB token implies that participants who wish to support the development of AI Bank can do this by sending fiscal funds or cryptocurrency to the designated requisites.

By doing so, they buy AIB tokens at a price of USD 0.05 for one AIB token, which

are instantaneously sent under a smart contract to their ERC-20 purse. Soft Cap will be closed after raising USD 2,000,000. The bidding period of a token lasts 90 (ninety) days if the Hard Cap is not reached earlier. If the campaign for the token sale does not reach Soft Cap, then all funds will be automatically returned to investors.

After reaching Soft Cap, the Hard Cap stage begins, which has a goal of raising USD

30,000,000. When this figure is reached, the token sale will be closed automatically.

Unused tokens will be deleted after the end of the ICO.

Funds Distribution

FOR MORE INFORMATION PLEASE VISIT THE LINKS I HAVE PROVIDED BELOW;

Website: https://aibank.global
Whitepaper: https://aibank.global/whitepaper.pdf
Twitter: https://twitter.com/AIBank4
Facebook: https://www.facebook.com/AI-Bank-Global-2334412266838969/
Telegram: https://t.me/aibankofficial
Instagram: https://www.instagram.com/aibankglobal/
Medium: https://medium.com/@aibankglobal
YouTube: https://www.youtube.com/channel/UCREvsQ577AiOugpusutg5aQ/
LinkedIn: https://www.linkedin.com/company/ai-bank/
Reddit: https://www.reddit.com/search?q=aibank.global

Bountyox Username: Sheycrypto