SpectroCoin Launches IBAN Accounts For Its Bitcoin Debit Card
In an apparently surprising move, SpectroCoin, a relatively popular provider of Bitcoin debit cards, announced that users on the platform will have access to an IBAN account number. The feature will be available, as per the blog post announcing this feature to all users, except US residents.
It's not clear yet what the first two letters of the IBAN account will be. If you ever used an IBAN account - and if you live in Europe you definitely used it - you know there is a standard structure to it: the first two letters are the country symbol and then the following digits are representing various other codes and the actual account number. Since SpectroCoin doesn't operate only in a certain country, I'm really curious to see how this will play out.
I said this move is just "apparently surprising" because SpectroCoin made clear its plans to expand into the traditional banking sector as well. Their next iteration is called Bankera, and it's touted as being "the first Bitcoin bank". The ICO will start on November 27th (although there was already a pre-ICO, in which people bought BNK tokens at a discount).
Using the traditional infrastructure of the banks for communication could be a good thing. If somebody can use that infrastructure without the risk of being taken over, and with no interference from a "middle-man" then that could work out. After all, banks are not the problem, just people controlling the banks are.
So if we can have the best of both worlds, why not giving it a try?
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@dragosroua Of course not available in the USA. Land of the FREE and home of the brave.
Thanks very good post !!!!
Awesome Work!
Keep it up!!!
@cryptoinvestinfo
your CryptoInvestmentExpert
Good article and keep posting such posts
damm this could be a big hit
So, as a USA citizen, I will need to get some Bitcoin, get a 2nd class citizenship from Vanuatu and then get a IBAN account, then I can purchase stuff in Europe with a credit card and have it shipped back to America.
All is correct, apart from the Vanuatu thing. Last time I checked, Vanuatu is not in UE. :)
Joke apart, the legal framework in US is very restrictive towards currencies. One of the weaknesses of Steemit too, by the way.
I am hoping by the time I am ready to cash out, someone will have figured out the better work around.
Or, by the time I cash out, it will be easier to trade Steem to some other crypto that has a low transaction fee market place for me to buy goods on-line and Uncle Sam won't be any the wiser.
Let's hope so. :)
It means us residential person can't use this??
That's what it says. IBAN accounts won't be available to US residents.
Spectro coin it's benefit only for Europe not worldwide....
..
I think there are legal differences between UE and US.