Polybius Bank: the most significant event of the year in the world of cryptocurrency
My name is Yevgeny Shumilov, I am one of the founders and leader of the Emercoin project. And I offer you a thought experiment: Imagine that you are sitting in Palo Alto in 1998, listening to the pitch of a little-known Ilon Musk about his PayPal project at one of the startup events. Would you have invested in it?
It seems to me that the same story is being repeated with ICO of Polybius Bank. No matter how pretentious the title may sound, I really think this project is a big step forward. As significant as PayPal did in its time. And that's why.
Despite the rapidly growing cryptoeconomy, the old, classic financial world is looking very conservative and skeptical in our direction. There are reasons for this. Cryptocurrencies have not yet built a closed cycle of the economy and are in dire need of pairing with fiat (ordinary money) mass. The size of which is constantly growing, but its movement is still controlled by financial regulators and banks.
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In the will of the financial mastodons of the old, but still modern to us world, one fine day take and block the settlement accounts of any crypto project. The last, most striking example is the blocking of the dollar accounts of the Bitfinex exchange that was served by the Wells Fargo bank.
About a month before these events, the same financial voluntarist refused to hold the funds in all the banks of Russia, making them, if you believe the support of the exchange, into your personal black list. Just because they wanted to. This can be explained by political motives (sanctions), but to whom will it become easier?
Smaller and local events occur regularly in Poland, England, Australia. The problem is global. No matter how important and large your project is, it can be on the verge of a catastrophe from a backstab from any “reliable and respected bank”. And if foreign banks cannot be trusted, then you need to build your own!
And of course, it will be oh how not easy. Not on the technical side, this is just all right - and even, perhaps, better than the banks of classical and “banks 2.0”. The main effort will be required from the legal side.
The Polybius project was developed for a whole year by a team of financiers, bankers, lawyers, and representatives of European regulators. It is very important. It is extremely important to find a complete legal justification, determine the framework of existence, the possibilities of the first real cryptocurrency bank. And such a solution was found.
And now about the consequences, and why I think this project is ambitious. As soon as a real bank gains momentum in a cryptoeconomy, the costs of converting to Fiat and back will be significantly reduced. Polybius will be a kind of gateway, a hub, ready to take on everyone, from small start-ups and exchangers to large exchanges and pools.
The era of insane interest, which is now eating from 5-10% in each direction, will be a thing of the past. The volume of the exchange of Fiat cryptocurrency will grow many times, will become more convenient and will be understood not only by initiates, but also by many. And Polybius, as the first absolutely legal bank working with cryptomeres, will receive a huge profit on this. It will become an analogue of PayPal, only surpass it four times. And yes, I do not mind you remembering this tweet.
I will not bore you with retellings of the white paper of the project and a number of other documents, just briefly summarizing in my own words.
Polybius Bank is a new dimension banking system using the most modern technologies, including the blockchain and specialized artificial intelligence. The idea of ​​creating a universal modern bank for all belongs to HashCoins .
One of the tasks that the project creators have set themselves is to reduce the cost of maintaining the bank through the use of the most modern technologies.
Polybius financial services will be fully integrated with international systems in order to provide all the necessary services for international settlement worldwide. The bank will be built on the principles of openness API and application of proven innovations and services in the industry of payments and data processing. This is a real revolution in banking.
Emercoin blockchain will be very tightly integrated into the bank's IT structure. It will be built on the bank document. The basis will be the blockchain technology Emercoin NVS, which allows you to record any information in the amount of up to 20 kilobytes. These records have such important properties as: uniqueness, the ability to transfer and unambiguously establish its membership.
The Emercoin blockchain will store all important bank documents that may be of interest to the public and have legal value. European countries do not prohibit the use of blockchain in a financial institution, provided that the auditor confirms its operational safety.
In addition, EmerSSL and EmerSSH technologies will be widely used. The first of them will help to significantly increase the security of bank accounts of clients of the bank, and the second will solve the issue of security and scaling of the bank’s infrastructure on a planetary scale.
On May 31, a bank crowdfunding ICO campaign was launched. You can purchase Polybius smart stock tokens, which are smart contracts, until July 5th.
The Polybius token, a share in the Polybius blockchain, entitles you to receive dividends in accordance with its shares. 20 ％ of the company's annual profit will be distributed among all tokens sold at the end of ICO.
This project has already attracted more than 11 thousand investors from around the world. The minimum plan for collecting $ 1.5 million was completed less than a day after the start of the ICO. In just the first two days, $ 6 million was raised to guarantee the formation of Polybius as a bank. At the moment, just a week after the start, the project has already collected more than half of the maximum required amount of $ 25 million, which clearly promises us that it will take place in full or almost complete configuration (DigiPass, blockchain, big data, AI, ...)
It is still possible to purchase tokens, but this is not the main thing now. The main thing is that maybe 20 years later you will be able to tell that the new PayPal was born right before your eyes.
It seems to me that the same story is being repeated with ICO of Polybius Bank. No matter how pretentious the title may sound, I really think this project is a big step forward. As significant as PayPal did in its time. And that's why.
Despite the rapidly growing cryptoeconomy, the old, classic financial world is looking very conservative and skeptical in our direction. There are reasons for this. Cryptocurrencies have not yet built a closed cycle of the economy and are in dire need of pairing with fiat (ordinary money) mass. The size of which is constantly growing, but its movement is still controlled by financial regulators and banks.
')
In the will of the financial mastodons of the old, but still modern to us world, one fine day take and block the settlement accounts of any crypto project. The last, most striking example is the blocking of the dollar accounts of the Bitfinex exchange that was served by the Wells Fargo bank.
About a month before these events, the same financial voluntarist refused to hold the funds in all the banks of Russia, making them, if you believe the support of the exchange, into your personal black list. Just because they wanted to. This can be explained by political motives (sanctions), but to whom will it become easier?
Smaller and local events occur regularly in Poland, England, Australia. The problem is global. No matter how important and large your project is, it can be on the verge of a catastrophe from a backstab from any “reliable and respected bank”. And if foreign banks cannot be trusted, then you need to build your own!
And of course, it will be oh how not easy. Not on the technical side, this is just all right - and even, perhaps, better than the banks of classical and “banks 2.0”. The main effort will be required from the legal side.
The Polybius project was developed for a whole year by a team of financiers, bankers, lawyers, and representatives of European regulators. It is very important. It is extremely important to find a complete legal justification, determine the framework of existence, the possibilities of the first real cryptocurrency bank. And such a solution was found.
And now about the consequences, and why I think this project is ambitious. As soon as a real bank gains momentum in a cryptoeconomy, the costs of converting to Fiat and back will be significantly reduced. Polybius will be a kind of gateway, a hub, ready to take on everyone, from small start-ups and exchangers to large exchanges and pools.
The era of insane interest, which is now eating from 5-10% in each direction, will be a thing of the past. The volume of the exchange of Fiat cryptocurrency will grow many times, will become more convenient and will be understood not only by initiates, but also by many. And Polybius, as the first absolutely legal bank working with cryptomeres, will receive a huge profit on this. It will become an analogue of PayPal, only surpass it four times. And yes, I do not mind you remembering this tweet.
Little about the technical side of the project
I will not bore you with retellings of the white paper of the project and a number of other documents, just briefly summarizing in my own words.
Polybius Bank is a new dimension banking system using the most modern technologies, including the blockchain and specialized artificial intelligence. The idea of ​​creating a universal modern bank for all belongs to HashCoins .
One of the tasks that the project creators have set themselves is to reduce the cost of maintaining the bank through the use of the most modern technologies.
Polybius financial services will be fully integrated with international systems in order to provide all the necessary services for international settlement worldwide. The bank will be built on the principles of openness API and application of proven innovations and services in the industry of payments and data processing. This is a real revolution in banking.
Emercoin's contribution to the development of a cryptobank
Emercoin blockchain will be very tightly integrated into the bank's IT structure. It will be built on the bank document. The basis will be the blockchain technology Emercoin NVS, which allows you to record any information in the amount of up to 20 kilobytes. These records have such important properties as: uniqueness, the ability to transfer and unambiguously establish its membership.
The Emercoin blockchain will store all important bank documents that may be of interest to the public and have legal value. European countries do not prohibit the use of blockchain in a financial institution, provided that the auditor confirms its operational safety.
In addition, EmerSSL and EmerSSH technologies will be widely used. The first of them will help to significantly increase the security of bank accounts of clients of the bank, and the second will solve the issue of security and scaling of the bank’s infrastructure on a planetary scale.
ICO Polybius Bank
On May 31, a bank crowdfunding ICO campaign was launched. You can purchase Polybius smart stock tokens, which are smart contracts, until July 5th.
The Polybius token, a share in the Polybius blockchain, entitles you to receive dividends in accordance with its shares. 20 ％ of the company's annual profit will be distributed among all tokens sold at the end of ICO.
This project has already attracted more than 11 thousand investors from around the world. The minimum plan for collecting $ 1.5 million was completed less than a day after the start of the ICO. In just the first two days, $ 6 million was raised to guarantee the formation of Polybius as a bank. At the moment, just a week after the start, the project has already collected more than half of the maximum required amount of $ 25 million, which clearly promises us that it will take place in full or almost complete configuration (DigiPass, blockchain, big data, AI, ...)
It is still possible to purchase tokens, but this is not the main thing now. The main thing is that maybe 20 years later you will be able to tell that the new PayPal was born right before your eyes.
Source: https://habr.com/ru/post/330438/
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