what is going on guys patch it here bringing you a brand new video today we
got another icy overview for you guys and very excited to bring this to you
but before we get started with that if you guys are new to the channel and you
guys have not subscribed yet make sure you do hit the subscribe button down
below as well as the bell icon next to it to get notified every time I release
a new video I have daily cryptocurrency market
updates and coin price predictions as well as some ico reviews and undervalued
all coin reviews so make sure you are subscribed so you guys can catch all of
those videos as soon as they go live now without further ado I want to introduce
to you guys 47 Bank now I have the ico bench website up because you guys know I
like to check out their rating so 47 Bank the token is FS BT it is on the
etherium platform and the curb price of it is 1 FS BT is 0.004 7 etherium and
the hard cap being 36,000 aetherium from latvia so that's kind of the basic
rundown of it and if you guys look at the ratings there's a lot of mixed
reviews some are more bullish than others but I would highly recommend
going through and checking out these guys row and then going to what you
think at the end and you coming up with your own conclusion now guys obviously
I'm not a financial advisor this is not financial advice this is just my opinion
and the stuff I showed you the ratings on ico bench are also simply opinions
and their rating so make sure you do your own research and use those ratings
and what I say as a sort of guideline or something to something to reference but
not as the year final decision make sure you do your own research when it comes
to your final decision so the ico is currently live it does end
in 3 days and 10 hours so there isn't too much time make sure you guys do your
research and if you do feel like jumping in you guys can go ahead and do that as
fast as possible number of participants so far is four thousand and seven there
is no minimum or maximum they accept the theory of an Bitcoin and the current
token bonus is a 10% obviously before this it was probably higher but right
now it is at 10% now I wonder what now I kind of want to go through the YouTube
video that they have sort of explaining what they are doing I think it's good to
get it from them and then after that we're gonna dive into our own opinion
and go check out the team the road map and all that good stuff so let's watch
this video first they face difficulties in sending funds to other people and
companies apart from that many face difficulties in transferring their funds
among their own wallets because banks are not familiar with cryptocurrencies
in order to sell goods and services in different currencies entrepreneurs have
to face many problems connecting each of them as a result businesses do not
always get access to the whole target segment of their products those even
revenue streams in time in the same way buyers won't always be able to buy what
they need we believe that baking products can be
more convenient and available than we've gotten used to these two opportunities
created by PSD to will offer our clients the opportunity to manage their bank
accounts with different banks from one master account together with the
possibility to open new accounts using their biometric information our
customers will get access to both fiat and non fiat resources and will be able
to transfer them to themselves as well as other people take loans and create
their own businesses without any problems businessmen will get access to
a robust payment app that will provide ready to work banking solutions between
fiat and non fee on projects complying with all regulations while providing
safety conditions of all parties involved by using our technological base
biometric authentication and smart contracts will offer the opportunity to
create autonomous businesses that can work for you businesses will have
possibility to carry out all necessary functions via a flexible API and execute
assignments based on deep integration of smart contracts
biometrics online identification smart contracts blockchain and gamification
all these technologies are to serve you and your customers even if you decide to
create your own white-label bank we end our API are here for you we connect
worlds we are building the bridge between traditional finance and the
digital assets world to benefit from use of both we are creating the baking
platform of the future for all of us 47 uniting the communities so that is the
video that they have and one thing that I do want to point out before we get
started talking a little bit about it is that they are trying to create bank as a
service platform for FinTech developers and the way you can kind of imagine this
is taking Apple and the App Store which they have created for mobile developers
they're going to the same thing but in the banking market a few other cool
things to know to keep a note for is that there um this year Lulu later on
this year there's going to be something called the payment service directive 2
which is going to launch in the EU and this this directive it obliges all the
EU banks to open access to their infrastructure via third-party apps
which i think is going to be big and they're going to be taking advantage of
this in order to make things easier for more people now let's take a look they
do have a one pager which is pretty awesome now I do recommend you guys
checking out the white paper if you do decide to investor if you're thinking of
investing make sure you do read the white paper and get your own information
that way but that is where the most more detailed information is I'm not going to
go through in the video though because it is going to take up too much time
anyways the mission of 47 Bank is to provide safe innovative user-friendly
financial services and products to our customers individuals businesses
developers traders financial and government institutions our range of
products will unite crypto world and traditional finance world in grant new
unique opportunities to both of them so that is pretty cool again they're trying
to bridge the gap make things a little easier now the products that they have
our multi asset account featured product of 47 Bank which is what I was talking
about when I said when I was talking to you guys
about the PSD to in the EU which is gonna allow customers to get access to
all their accounts in different banks as well as their crypto wallets it through
one application so that is making the things easier
the bank will invent crypto debt instrument product so crypto bonds which
allow companies to attract financing in crypto currencies wide range of products
and services for businesses including payment processing financing and
factoring invoicing card issuing etc and payment processing processing solutions
for other financial institutions and white label bank as a service as a
service solution for developers so the features that they had is for seven
banks going to it's going to build the bridge between crypto community and
traditional finance world and that is what I was telling you guys about one
thought they're trying to make things easier and bridge the gap now the
ecosystem compliant with payment service directive to the PSD to what I was
talking about is going to be what they use to make things easier this comes
into force or the EU key came into force January 2018 the ecosystem will operate
with full support of blockchain smart contracts biometrics and machine
learning technologies and 47 Bank will be the first financial institution
providing full support to crypto currencies that is compliant with full
regulatory framework so pretty cool again you guys can check out the you
guys can go ahead and check out the who the white paper in the 1-1 page if you
guys want to read more about it but I don't want to take up too much time I
want to go through the important stuff so overall they have pretty decent
ratings throughout no I co bench isn't here but on ICO rating they have
positive on ICO top they have a double a on some of the other ones I I'm not too
familiar with most leads but I do know ICO rating they are pretty accurate most
of the time now product they offer a wide range of products which we just
kind of went over in the one-pager this is sort of what the application and what
they're trying to get the application to look like or what things should be
looking like that's a quick look it looks pretty cool I think it's very
clean design something that will attract a lot of people now some of the features
and technologies obviously they're gonna use blockchain biometrics
service-oriented architecture machine learning of open API smart contracts
cloud computing conversational systems and adaptive security architecture now
the road map sort of important to look at the road map right so road map q4
2016 is when this started so that was when the development of forty-seven Bank
concept project plan elaborated that's when it started in q2 q4 2017 they were
preparing to start the crowdfunding q1 2018
was the successful completion of token generation event that was the beginning
of this year now we're roughly at q2 2018 which is
the software infrastructure deployment then later on moving forward they're
going to be applying for things they're going to be obtaining EMI P I licenses
they're going to have submission of documents to obtain banking license and
obtaining black banking license license is looking like the end of next year so
this is a relatively long term project one that if it works out could be very
lucrative but again several things have to go correct and it
isn't something that's going to moon tomorrow it is something that is going
to take some time they do have several licenses they need to apply for several
things they need to get in order to continue with their plan now the
executive team the team overall looks pretty solid they look like they know
what they are doing now you can click on any of them and it will open up their
LinkedIn profile and you'll be able to check their previous activities and
their previous employment now what I can say from what I was researching they all
look like overall as a team they look like they do have experience in both
blockchain but also in previous banking um in the banking industry so I think
that's definitely something very beneficial advisors are also pretty good
they have a good list of them and some of them are very very are very reputable
right now some of the partners they have a good amount of partners coin Baz last
back-end best rate the press loves them obviously they are in several places in
the press that is not anything too big honestly now the ICO details you guys
can check out the excepted currencies like I said was aetherium and Bitcoin
and Bitcoin and the ICO is going on now until the third
of April now this is the important part that I was looking at the token
distribution because you guys know I am big on this and 90% going to
contributors is fantastic I'm very very happy to see 90% go to contributors
because what starts being like 30 or 40 even 50% I start to worry because that
means oh the team holds a lot of the of the of the cryptocurrency now five
percents going to founders which is more than normal and 5% to bounties which is
again perfectly normal and that's basically it when it comes to their
website they actually have a good amount of documents if you guys are instant
looking at the financial model the wave or the privacy that turns the white
paper and the token holders benefit and the business model they have a ton of
documents very well laid out all you have to do is click on one of them and
it will open up what I was looking at before which is the one pager right now
you guys know I'm also big when it comes to community and I want to see the
community be I want to see them building a community because that is what I think
I think no matter how good the project is without a community backing it it is
not going to succeed because the community's gonna be what buys the SEO
it's gonna be what spreads the this is gonna be able to spreads the news of the
cryptocurrency and then even when it launches the better the community we can
see coins like Tron which have such a great community are still holding at
number eleven in coin market cap right now because of the community now four
thousand eight hundred members on Twitter
not bad I think it is something that I think that's something they can improve
on but it isn't bad whatsoever for a cryptocurrency in the ico phase now you
guys can take a look they do post a relatively awesome relatively often at
least once every day which is good and it does help grow the community on their
telegram they do have ten thousand six hundred and seventy seven members very
very good I like to see over eight thousand on the telegram for an ICO I
think is very solid so guys that is my review of 47 ICO hopefully you guys did
enjoy the review and you guys managed to learn something if you did don't forget
leave a like and leave a comment down below if you have any questions for me
if you have any questions for me leave them down below and if you guys have any
questions for them make sure you do join the telegram maybe reach out to someone
by email and I'm sure they will be more than happy to
so your question but guys that's gonna be it for this video thank you so much
for watching Oh actually one last thing I almost
forgot the reason why the token is going to be used and how is the token going to
grow basically they are going on basically the the developers and for
businesses they're going to need to use the FS BT token which is going to help
the price of the token grow so it's definitely to keep in mind there is
actually use case for the token but guys thank you so much for watching I'll see
you guys tomorrow for another video
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