Currently, the global financial system is enormous, but it is very cumbersome to transfer money. While you can send an email around the world in a second, transferring money can take days or even weeks to arrive at its destination. Financial intermediaries are required to transfer any sum of money, each of which takes a service charge. These financial middlemen are more often the victims of fraud than the rest of the economy, which results in greater regulation and higher costs for all parties involved.
Blockchain as a technology most adequately and efficiently meeting challenges of modern financial industry recommended itself among large market players. According to PwC respondent data, 55% of representatives of large companies specializing in FinTech-industry, plan to implement blockchain in its business processes in the nearest future — this figure will increase up to 77% with the forecast for 2020.
Market Analysis
Mobile banking, international money transfers, financial planning, savings and investments, stock trading and other international financial markets, receipt of loans, credits and mortgage loans, insurance — now, all these processes mostly function within FinTech sector company products and developments. Economically active users, younger than 25 years old, most likely have never practiced the above mentioned capacities outside online space. So, it’s not difficult to assume that in 10 years FinTech-startups will represent not only active and significant players of financial market, but will also set the bar for all traditional companies and financial institutions in the sphere of approaching to work with consumers.
Market Problem
Banks sabotage the process of its implementation in everyday life, strongly disturbing the openings of such accounts for companies, performing ICO, and also may block the account of such company at any moment. This creates a big problem for the cryptocommunity, which would like to buy and sell cryptocurrencies, accept and send funds in fiat money (money of different countries USD, EUR, RUB etc.) for token purchase when performing ICO and further free transfer money all over the world without fear of account blocking.
MyCryptoBank Solution
MyCryptoBank will become the first bank for cryptocommunity, allowing clients to:-
Receive and send funds in cryptocurrencies and fiat money
Exchange between cryptocurrencies and fiat money inside the bank.
MyCryptoBank will be possible to create deposits, receive loans and credits.
The bank will create an infrastructure which will allow setting acquiring and merchants for goods payment for companies and online services.
Clients will be able to receive bank cards and with the help of it they will take available funds through any ATM in the world and also pay in shops, restaurants etc.
The bank plans to install ATM and crypto ATM, assisting in making operations on cryptocurrency purchase and cash receipt with minimum fees.
In the usual sense, it will be typical bank with the whole range of services but loyal to cryptocurrencies and cryptocommunity. It will give an undeniable advantage over other financial institutions, attract many clients and their funds for creation of bank’s positive liquidity and allow supporting and developing all products of MyCryptoBank.
MyCryptoBank will become a fully digital bank, accessible all over the world and at any moment. It will make all functions of a typical bank but without any bank departments and front-offices maximum relying on new digital technologies. This will allow MyCryptoBank to become one of the most inexpensive banks in the world with very profitable level of cost-to-profit ratio.
The Conclusion
The Conclusion which we got that MyCryptoBank is highly demanded by the present FinTech market. First of all, online banking remains the main category of Fin Tech market on demand among users; secondly, blockchain is accepted by the main representatives of industry as one of the most useful tools in improvement of business processes in the financial market; thirdly, now, ICO remains the best method for attraction of investments in blockchain-projects.
Project Informarion:-
Website Link: https://mycryptobank.io/
Whitepaper: https://mycryptobank.io/docs/MyCryptoBank-white-paper.pdf
Twitter Profile: https://twitter.com/MyCryptoBank
Facebook Profile: https://web.facebook.com/Mycryptobank?_rdc=1&_rdr
Reddit Profile: https://www.reddit.com/user/MyCryptoBank
Telegram Profile: https://t.me/MyCryptoBank
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=4484862
Author of article:
Bitcointalk Username: The Phatpharm20
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2038562
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://mycryptobank.io/docs/MyCryptoBank-white-paper.pdf
Downvoting a post can decrease pending rewards and make it less visible. Common reasons:
Submit