Cryptov8 - cryptobanking and traditional banking products and services

hilmy (25)in #ico • 6 years ago

Crypto Currencies & Blockchain Technology:

Most of you may be familiar with the world of Criptocurrency (Crypto currency). Cryptocurrency has been around about ten years ago, and has now become quite popular, widespread, and covered in many controversies from innovative developments. Cryptocurrency (or cryptographic-based digital currency) is basically a new form of currency, which is created, stored and used for several digital needs. Each token is designed to be able to be completely unique, so it cannot be manipulated using cryptology.

Digital currency is not the same as a bank account that you generally have, such as on an online bank account, or even a stock exchange (although it also gradually changes).

Blockchain is generally open to the public, "ledger" which can be distributed in general, able to record all transactions on a network consisting of so many computers. Since Bitcoin came up using a pattern like this, then a new cryptocurrency explosion came in and then came in droves. This crypto-based digital currency was created through a "mining" process, by solving mathematical equations with a relatively increasing level of difficulty. This also indirectly implies the growth of new industries, with a variety of innovations and individual segments, as well as pool mining (mining). All of these new industries have emerged due to blockchain technology.

The blockchain concept is indeed designed to be capable of being decentralized, which means that there is no central center as the authority to distribute the digital currency, but rather the community community itself broadly. In this way, direct, peer-to-peer (P2P) exchange can be realized, without the necessary intermediaries. This Blockchain technology, also increases the FinTech (Financial Technology) segment. Blockchain is so amazing!
Initially, blockchains were only used to make the cryipto currency possible, until Vitalik Buterin entered with his idea about Ethereum. Ethereum is enough to increase the blockchain's ability to do not just create crypto currencies; but also decentralized applications and Smart Contracts, can be realized from Buterin's innovation.

With the advent of blockchain technology, many banks and the government (policy holders) have decided to try to use this technology to help their institutions become more efficient.

now there will be a large project with good value, a project called Cryptov8 that brings Banking to blockchain.

Fundamental to the Cryptov8 proposition will be establishing a UK domiciled and authorised bank using blockchain technology to bridge the gap between cryptobanking and traditional banking products and services.

The Cryptov8 project extends far beyond any existing ‘CryptoBanking’ services that exist today. Our project aims to streamline challenges that customers often face, which will ultimately create the best possible route for adoption of cryptocurrencies, globally.

Convenience – Making wallet installation, access and usage straight forward.
Trust – As an authorised and regulated bank, we will apply the highest levels of regulatory principles and best industry practice to protect our customers.
Security – Providing bank grade security across wallet/asset storage, password retrieval and fraud protection.
itemCost – Making exchange costs and withdrawals cheaper and more certain.
itemReward – Uniquely, our cryptobanking customers will directly receive rewards for their loyalty. We will give a share of our cryptobanking fees back to our customers.
itemAcceptance – Making cryptocurrency payment mainstream.
itemEducation – Providing easy access to educational material, an evolving knowledge base and providing unrivaled support to cryptocurrency customers.

Roadmap

Cryptov8’s ambitions span the traditional and cryptocurrency world. We intend to bridge these currently disparate worlds to provide our customers with the widest options and first class customer service.

The following diagram describes the journey so far in terms of milestones, but more importantly the future milestones it will achieve to provide comprehensive services across each area.

Q3 2016

FCA approve a consumer credit license enabling us to provide personal loans and issue credit cards as well as carry out other consumer credit activities.*

Q2 2017

Technology evaluation starts, full list of technology vendors considered. Application process for full banking licence begins.

Q3 2017

Extensive market research completed to identify consumer preferences, market trends and competitor offerings.

Q2 2017 - Q1 2018

Regulatory Pre-Application Process. Generation of Regulatory Business Plan.

Q3 2018

Banking platform vendor selected. Full banking licence application submitted to the Prudential Regulatory Authority

Q1 2019 - Q2 2019

Full banking licence Authorisation with Restriction granted. Crypto Wallet/Account Launch
PHASE ONE
Phase 1 to include: • Cryptoeduc8 • Cryptocommunic8 • Cryptog8 (link to other exchanges) • Cryptocred8 • Cryptovault.

Q3 2019

Full Banking Licence (without Restriction) granted. Banking Services Launch. Phase 1 to include: • Current Account • Savings • Unsecured Loan • Business Lending

Q4 2019

Crypto Account Services Expansion
PHASE TWO
Banking services expansion, phase two to incude: • Cryptoremuner8 • Cryptomovtiv8 (first features) • Mortgages • Business Current Accounts

Q2 2020

Crypto Account Services Expansion • Cryptomotiv8 (final features) • CryptoG8 (own FIAT gateway/exchange)
INTERNATIONAL EXPANSION CONTINUES