bank on the blockchain-Forty seven
Introducing forty seven
It's not every day you get to see a project that has been running its ICO from the last quarter of 2017.
Looking around for projects that can move the cryptosphere forward, I was quite impressed when I read about the ''fourty seven'' bank token.
forty seven?
Forty seven is a financial company, built on the blockchain, that aims to provide more secure, more user friendly, and a more transparent banking services to both normal individuals and coopertions.
A major function of the forty seven bank will be to provide an account to store multiple assets, to be able to have access to all your banks and cryptos accounts from one single service: forty seven.
After a long time reading and digesting this, I believe I can now confidently explain this project and why I think its going to be an interesting and amazing project in the future.
Having to dig through 5 documents, each containing numerous and detail specific information was daunting.
The Whitepaper, One pager, documents explaining their business model, financial model, and token holders benefits.
An edit will be made on this article in the next few hours as I read more of the white paper
Token distribution
The token is an ERC-20 token, and as such will be run on the ethereum blockchain.
The forty seven token also called FSBT, will be issued out for the token sale at 0.0047 ethereum per token.
The hardcap has been slashed from about 10m tokens, to about 5m tokens due to the DIP in crypto prices.
Roadmap
Having been planning since 2016, the leaders of this project have put a lot into ensuring its success.
The plans started out since october 2016, and has since gone on for a year p;us now and is right on its edge of glory. The table below shows us how much has been planned, said and done about the forty seven project.
| Date | Description |
|---|---|
| October 2016 | The idea to create an innovative bank that offered products and services in exchange for cryptos was born. |
| Febuary 2017 | Proper launch of the project bega, with the team being organised, market analysis made and research carried out. |
| March 2017 | The plans of the project and structure of it started coming to life. |
| April 2017 | The financial model, how the bank was to be run and constructed was started. |
| May 2017 | The decision to create an ICO was made |
| June 2017 | Gsthering, organising and ppreparatory measures for ICO launch began. |
| October 2017 | Testing of the ICO smart contract |
| November 2017 | Start of the ICO |
| December 2017 | Development outlines, as well as preparing starting documents for the bank. |
So far so good, the above stated roadmaps had been fufilled, however, due to the erratic nature that cryptocurrencies found itself in 2018, the fact that a lot of coins dropped a lot in value and price, a short alteration to the roadmap and timeline for project forty-seven had to be made.
Consequently, the following parts of the roadmap may not be in play now, but are still under the plans ad commitment that forty-seven has planned to do.
The
Website:https://www.fortyseven.io/
Announcement thread:https://bitcointalk.org/index.php?topic=2225492
Facebook: https://www.facebook.com/FortySevenBank/
Twitter:https://twitter.com/47foundation
Telegram:https://t.me/thefortyseven
Bounty telegram:https://t.me/thefortyseven
Medium:https://medium.com/@FortySeven47
authored by destinysaid
BTT profile: https://bitcointalk.org/index.php?action=profile;u=1874680
eth address: 0xb83ed3e6B6497f7B0350cc053AF918aE7423037E
The hardcap is small. It will be reached soonest. I am sure. They just need more publicity.
Exactly what i was thinking , i just saw them on an ICO rating site and was amazed by the project.
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It is indeed a very nice project for the betterment of everyone. I wish you guys a huge success.