We are witnessing the dawn of a new asset class that will disrupt every major industry around the world, facilitated by the creation of blockchain technology. This asset class, currently valued over $250 billion, is cryptocurrencies. The European Crypto Bank‘s mission is to make the ownership and exchange of cryptocurrencies easy for everyone with its online platform.
Understandably, the traditional financial system has been hostile to the emergency of cryptocurrencies with attempts to deligitimize them. The CEO of JPMorgan Chase, Jamie Dimon, made the news last year for asserting that anyone at his company trading bitcoin should be fired. Since then, Mr. Dimon has backtracked on his attacks, showing that the traditional banking system must come to terms with the potential of blockchain technology, lest they fall behind in the industry by not embracing the latest innovations.
Blockchain technology, and in particular smart contracts, is especially menacing from the perspective of traditional finance because it renders intermediaries such as bankers and brokers unnecessary. Using the blockchain, users can transact in a secure and trustless manner, with contracts executing once the preconditions of both parties are fulfilled. This automated form of contract execution has the potential to significantly lower costs and increase efficiencies in many industries. The European Crypto Bank stands out by aiming to merge cryptocurrencies with traditional finance, so that users can enjoy the security and convenience of cryptocurrencies while receiving guidance from financial professionals to ensure they are in compliance with regulations.
The European Crypto Bank will allow users to trade major cryptocurrencies and fiat currencies in a fast and convenient manner. The platform will also allow users to exchange cryptocurrencies for traditional assets and services such as stocks, bonds, insurance, and real estate. By providing an array of financial services on a single platform, the European Crypto Bank will make managing finances easier for users.
One aspect that differentiates the European Crypto Bank from competitors is its focus on compliance with regulations around the world. Users will have to provide documentation to comply with KYC (“Know Your Customer”) and AML (“Anti-Money Laundering) laws, and will in turn be assisted by a team of tax experts to ensure they are in compliance with their jurisdiction. The adherence of these laws will bring greater confidence to not only the platform but also the cryptocurrency market as a whole, encouraging greater adoption of them by the public.
The native token of the platform, ECB, is ERC20 compliant, and thus can be stored in popular Ethereum wallets such as MyEtherWallet and Mist. In total, no more than 677,283,261 ECB tokens will be created, thus protecting token holders with a fixed supply. ECB tokens can be used to purchase services on the platform, and can also be used as collateral and to obtain credit.
The ICO for the European Crypto Bank is taking place from February 16, 2018 to May 1, 2018. From now to April 22, 2018, each ECB token will sell for .59 euro, with a seven percent bonus added. From April 23, 2018 to the end of the ICO, each ECB will sell for .63 euro. Investors must buy a minimum of 20 ECB tokens to participate. The soft cap for the project is 5,000,000 euros and the hard cap is 200,000,000 euros. Interestingly, the project has received a solid 4.3 rating from ICOBench. Cryptocurrency enthusiasts interested in a platform bringing liquidity to traders and investors, and that promotes compliance with tax laws, may want to look further into this bold project.
*I am receiving ECB tokens for the growth of the community.
Bountyhive ID: thepranksta
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