Forty Seven Bank Token ICO and Token Sale Review
Forty Seven Bank Token
The designation of Forty Seven bank is to provide a bridge which would capable of connecting two separate financial worlds and establishing proper communication between them. The worlds in question are those of fiat currencies and cryptocurrencies.
The mission of the team behind the ICO is to deliver safe as well as user-friendly and innovative financial services as well as products to the customers. The latter include governmental and financial institutions, traders, developers, individuals and businesses as well.
What are the products behind the ICO?
There are a few different products currently under development. These include a multi-asset account which is pretty much the featured product of the FSB (Forty Seven Bank). It will allow customers to gain complete access to all of the accounts in different banks as well as their cryptocurrency wallets through one single application.
Next is the crypto debt-instrument product. This is something which includes the creation of cryptobonds which would allow companies to easily attract funding through cryptocurrencies. It’s a lacking aspect of the fundraising niche which might have critical impact.
The intention of the team behind the ICO also includes the creation of payment processing solutions as well as white label Bank serving as a service solution for developers.
What are the features?
As we’ve mentioned before, the main intention of the Forty Seven Bank would be to become a comprehensive bridge between the communities of the traditional finance world and those of the crypto finances.
The team aims to create an ecosystem which is legitimate and compliant by the European Commission’s PSD2 introduced in the beginning of 2018. Said ecosystem shall operate with the full support of blockchain, smart contracts, machine learning and biometric technologies. The intention of the developers is to deliver the first financial institution which brings full support to cryptocurrencies which is entirely regulated and as transparent as it get.
Introducing the FSBT Token
Following the ERC-20 standard, the code is open-sourced at Github and it guarantees that the token will operate in a predictable way in crypto token ecosystem for the future.
As per the value of the token, it is set to 0.0047 ETH. The hard cap for the ICO is set to 36000ETH where the soft cap is 10% of that amount – 3600ETH.
Three rounds of token distribution shall be announced with the first taking place from the 16th of November to the 16th of December. The second and the third rounds are awaiting announcement. The overall token amount generated will consist of units sold through the three separate rounds of ICO, bonus tokens as well as tokens generated for the founders, bounty campaign and advisors.
Holders of FSBT can exchange them into ETH through the ecosystem of smart contracts which interact with each other. What is more, FSBT holders will also receive substantial advantages as they will become top priority clients of the bank and will receive numerous annual loyalty rewards. The FSBT token can also be exchanged in the loyalty shop for an array of different products as well as services.
- Start Date2017-11-15
- End Date2018-03-30
- Payment Method
- Total Supply11063829
Rates & Bonuses
- Current bonus - 20%