Forty Seven Bank – Bank for crypto and fiat money
March 28, 2018 5:35 am,
Money is the only means to get hold or to acquire something, be it a tangible asset or an intangible asset. We no longer live in the world of barter systems, we now have molded the world not only into a fiat money running world but also a virtual money running world where cryptocurrencies are also used. The International Monetary Fund (IMF) is the specialized agency under United Nations (UN) which has issued a statement encouraging financial institutes to consider cryptocurrency investments which will be beneficial for the long run future exposure. This led to the emergence of a blockchain technology called Forty Seven Bank, which is a fully digital innovative financial institution complying with all the European Union (EU) directives, Basel III, Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
Forty Seven Bank would build a secure transaction unit between monetary economies and digital finance. The bank will be specialized in digital finance allowing sale and purchase of cryptocurrency, investment and exchange as well as maintain various crypto asset accounts. It is a platform which will allow customers to have access to all their accounts in different banks and crypto wallets as well as in their various investments and savings in virtual as well as hard money. Forty Seven Bank is located in London, the United Kingdom, because the government of UK has advanced positive conditions regarding cryptocurrencies and London herself, is a major financial center giving access to a significant share of foreign exchange (forex).
Forty Seven Bank believes in transparency and pure customer satisfaction. A big portion of the financial sector market will be shifted towards the financial technology startups which will be able to provide unique products and services ultimately leading to a satisfied customer. Just like all other decentralized blockchains, Forty Seven Bank has also decided to raise its funds through Initial Coin Offerings (ICO).The token will be called the Forty Seven Bank Token (FSBT). 1 FSBT will be equivalent to 0.00428 ETH including all bonus available currently. The hard cap is 36,000 ETH and 90% of the amount generated will be distributed to the contributors, 5% for the founders and the remaining 5% to the bounties.