World Bit Bank
Some of were of the thought that cryptocurrencies are used only by people who want want to evade tax and launder money, and according to some, this is only for millionaires.
But then, I asked a very serious investor uncle of mine, and his response on why he didn't invest in cryptocurrencies was "Simply because there's no legal procedure to support me in case a dispute arises."
That's when I realized the need of a centralized system-like decentralized cryptocurrency bank, that will pave the way for their mass adoption.
That's exactly what World Bit Bank does.
World Bit Bank is the world's 1st legal cryptocurrency bank. It will focus on the development of new financial technologies and their integration into the current banking and finance system.
It will consist of a mobile application which can be used like the normal bank apps of today.
Along with this, the users will have access to debit cards and the WBB wallet. The WBB debit cards are traditional MasterCards or VISA cards, but they are used to make payments using cryptocurrencies.
But that's not all.
Users can also transfer money using World Bit Bank's application, which wasn't possible for a long time using cryptocurrencies.
World Bit Bank will also facilitate fast and quick real-time transactions using cryptocurrencies on the Bit Bank ecosystem.
But why is this significant at all?
Let's have a look below.
How does it work?
First, let's talk about speed.
Currently, if someone transacts using cryptocurrencies, the amount isn't transferred in real-time but held back for some time, and in some cases, for days. Also, withdrawing money is also a very hectic process and this is what turns off most people from using them.
But gone are those days now thanks to World Bit Bank.
Now, anyone can transact in real time and the deposit and withdrawal processes have also been simplified by them.
Next, the legal issues.
Disputes regarding cryptocurrencies are quite common, and there's no surprise why - a lack of a legal process that regulates them. But this is where World Bit Bank enters and changes everything.
World Bit Bank is the world's first legal cryptocurrency bank.
Which means, you can approach them if any disputes arise, and they will be more than happy to help and find out a solution for you.
With World Bit Bank entering the market, the major issues have been dealt with and solved for the better. This will surely help in the mass adoption of cryptocurrencies.
Wibcoin is the altcoin of the World Bit Bank platform. It is a public cryptocurrency for digital services such as payments, transfers etc.
The ICO sale will take place in the 4th quarter of 2018.
The value of 1 token will be €1.
The soft cap for the project has been set at €250 million and the hard cap has been set at €500 million.
WORLD BIT BANK TOKEN (WIBCOIN)
The Wibcoin (WBB) is an ERC20 compliant token on the Ethereum blockchain. It is the unit of account of all transactions in the World Bit Bank ecosystem and can be used for common digital services like currency exchange, payments, value maintenance, etc. After the Pre-ICO, WBB tokens will be trading on exchanges like Kraken, Bittrex, Bitfinex, Polonix, Binance, HitBTC, Yobit.net. In addition, after the ICO, World Bit Bank customers will have the following features open to them:
• Participation in exchange auctions.
• Conducting transactions with low charges.
• All classic banking services using cryptocurrencies
• The opportunity to conduct transactions in cryptocurrency at any point of sale.
• Attracting funding for own project or business by offering digital assets in the form of bonds.
Anyone who buys Wibcoin tokens worth between 1 – 10 ETH and more will be offered free debit cards (VISA or MasterCard).
A total of 1 billion WBB will be issued.
Price: 1 WBB = € 1
Pre-ICO softcap: 667.61 ETH or € 500,000 (at an exchange rate of € 748.94\1ETH, as of 16.02.2018).
Pre-ICO hardcap: 33,380 ETH or € 25 million (at an exchange of € 748.94\1ETH, as of 16.02.2018).
ICO softcap: 333,805.11 ETH or € 250 million (at an exchange of € 748.94\1ETH, as of 16.02.2018).
ICO hardcap: 667,610.22 ETH or €500 million (at an exchange of € 748.94\1ETH, as of 16.02.2018).
PRE-ICO FUND USE
75% - Purchase of a bank
10% - Marketing
10% - Development
5% - Salary fund
Even though we live in the 21st century, we still use the same method for transactions that was used way back in the 16th century. With so many changes happening in the world of technology, it is high time that we adopt tomorrow's currency - the cryptocurrencies.
Till date, the major setbacks in the mass adoption of these currencies were their speed, efficiency, reliability and an overall institution which can be approached in case any dispute arises.
But now, with World Bit Bank entering the market, all these have been taken care of and dealt with.
Now anyone can enjoy the reliability, security and speed of normal bank transactions using cryptocurrencies.
ANN thread: https://bitcointalk.org/index.php?topic=3206437.0