Forty seven — Connecting Financial world through Blockchain
Forty Seven Bank is innovative financial technology start-up
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.
Forty Seven Bank will provide a variety of products and services to the private customers like the smart ATMs, transactions in both Fiat and Non-fiat currencies. Customer Relationship Management has changed the approach to customer service in the past. Similarly, the smart contracts connected to the banking services will lead to a new revolution.
By synergizing the smart contracts and blockchain will open new doors for various applications. By providing Banking as a Service (BaaS), the financial start-ups can try their own White label bank or the financial services. The data analytics techniques are powered by the machine learning tool to make the right decisions. The Bank is also planning to have a consulting department that can share knowledge and the experience.
For Traders, the bank will provide access to any foreign exchange for dealing with international corporations. Smart services will be provided to the traders through the trading platforms.
A team of professionals from the worlds of banking, finance, and IT with expertise and experience in the creation and licensing of payment systems, and building of electronic financial institutions will work to realise the goals of the project.
Our bank will become the biggest structure that corresponds to all the requirements of regulators and the EU Payment Services Directive 2 (PSD2). We will comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) policies in order to guard against agents of the “grey” market.
Forty Seven is based on three principles: relevance, convenience, and security. Our specialists use up-to-date technological developments such as blockchain, biometrics, smart contracts, machine learning and many others. If you are interested in the specific details of our establishment and creation of a hi-tech bank, please see the following documents.
A debt digital instrument is denominated to be the Crypto Bond. This non-investment instrument is freely bought and sold in the digital market. The investor will speculate the yield of these instruments. The digital future contract is denominated as the Cryptofuture. The future contracts are linked to the future mining of crypto currencies.
Forty seven Bank provides a multi-currency wallet of both Fiat and not-fiat currencies. The digital wallets are secured with public and private keys.
In order to protect the funds, the crypto assets are stored in a private and a secure database. The data is encrypted and replicated in several data centres across the globe. The clients can access or restore the credentials by providing the identity. The crypto gateway will convert the crypto to fiat and vice versa.
The forty seven bank will be issuing the price-stable crypto currencies, having a stable exchange rate to the USD and EUR. This price-stable crypto currencies will allow our customers to buy or sell the products with fiat currencies and also at the speed of cryptocurrencies. Distributed computing is used to provide high level availability to the banking services. Every time the client applies for a new product with a high credit limit, he will receive a risk assessment based on the statistical model. If the customer’s application is above the risk tolerable level, then it will be declined.
UNIQUE FEATURES OF FORTY SEVEN
- Financial stability;
- Effectiveness and user firendly procedures;
- Security and privacy (data protection);
- Customer satisfaction;
- Market share growth and worldwide expansion;
- Profit for all stakeholders
FORTY SEVEN ICO DETAILS.
What is Forty Seven Token: This is a token that gives the right to take priority place in Forty Seven's loyalty program. Holders of FSBT tokens will be entitled to receive annual bonuses in the form of other (FSBL) tokens, depending on the number of tokens and financial results of the bank for the previous year. Also, FSBT tokens have practical applications in the ecosystem of the Forty Seven bank itself. At the end of the collection of funds, the tokens will be available for trading on crypto-exchange exchanges.
what the token will be use for: 20% of the bank's net profit for the last year will be allocated to the loyalty program. The required number of FSBL tokens will be generated and upon request through a clever contract the token holder will be able to get the number of FSBL tokens that can be exchanged for goods and services on the Forty Seven platform.
Issue circulation: depends on ICO results (max 101 063 830 FSBT).
Emission control: provided by a number of smart contracts that interact with each other.
Course: Fixed, the cost of one token is 0.0047 ETH.
Accepted crypto-currencies during pre-ICO: ETH.
Accepted crypto-currencies during ICO: ETH, BTC.
The minimum budget for starting the project is 5,000,000 EUR (18,000 ETH).
Start date of pre-ICO # 1: October 30, 2017 (15:00, GMT + 1, London time).
The completion date of pre-ICO # 1: November 6, 2017 (23:59, GMT + 1, London time).
ICO start date: Q1 2018.
ICO completion date: Q1 2018.
The team has a set a roadmap of deploying the software in the early 2018. The products and the services will be offered to the customers in the mid-year 2018. The forty seven bank with its successful experience of developing the financial products is looking to expand its domain in the newly emerging Blockchain technology and propel the booming crypto currencies.
For more information please contact the link below :
Website : https://www.fortyseven.io/
White Paper : https://drive.google.com/file/d/0BzvESRkgX-uDeHc1QjRzbHRBelU/view
Facebook : https://www.facebook.com/FortySevenBank
My Profile Link: https://bitcointalk.org/index.php?action=profile;u=1661797