Forty Seven Bank: Crypto+Fiat banking ICO
I have already posted a teaser about how Forty Seven Bank is aiming to culminate crypto and fiat currencies. Today, I would be exploring the Forty Seven Bank ICO details and its blockchain offering.
Forty Seven Bank's mission is to provide a platform that is secure, innovative and meets the banking and financial needs of all the customers - Individuals,, businesses, developers, traders, financial institutions and governments
Coinmarket cap has estimated that cryptocurrencies could be 5 trillion USD in market capitalization by the year 2022. Currently, there are around 800 cryptos with a market cap of worth 150 billion USD. The crypto market is growing at an incredibly faster rate. Forty Seven Bank, one of the early adopters of crypto banking has launched their ICO and are aiming to bridge the gap between digital currency and traditional paper currency. The plan is to bring both digital asset consumers and traditional currency consumers under a single roof
Forty Seven Bank will offer digital currency investment options - Cryptobonds and CryptoFutures for trading clients. This will be based on smart contracts built on Ethereum blockchain (ERC20). The source code will be published for transparency and public inspection.
In the ICO, Forty Seven Bank will be offering FBST tokens. To launch applications using Forty Seven Bank App platform, developers must be using these tokens. Bank aims to create a constant demand for the tokens in the crypto exchange market by investing profits into the tokens. FSBT token holders will also have exclusive rights to the FSBL tokens - a smart contract for Forty Seven Bank's loyalty program. Token holders can leverage FSBL to shop for air tickets, hotel bookings, gift cards, etc.
ICO details
ICO start date: 16 Nov 2017
ICO end date: 31 Mar 2018
Accepted Currencies: ETH, BTC
90% FSBT is offered in the token sale for providing decentralized ownership.
Website: https://my.fortyseven.io/r/oGahLv4bpW-hKpCLpl5H_dLHUt13NmKiOAEZR5KLozyNqKuiFwh9zjj5WGY4zBPp
Telegram: https://t.me/thefortyseven
Twitter: https://twitter.com/47foundation