Bridge between two financial worlds | Forty Seven Bank ICO

ICO Review by JerryKing

4 min readDec 3, 2017

Forty Seven Bank is a unique innovative fin-tech startup with a promising experianced team, planned to create a bridge between crypto currencies and traditional fiat currencies.They will provide comprehensive services for fiat and cryptos including financial operations , analysis and management.With Payment Services Directive (PSD2), Europian customers will get access to all their crypto wallets and all type of investments including stocks , bonds, commodities and traditional bank accounts through user friendly all in one application(Multi-Asset Account) for individuals.

For businesses they will offer a payment processing solution in cryptocurrencies along with the traditional methods.They will be able to automate part of their operations via blockchain and smart contracts.

For developers a flexible API and Forty Seven Bank app platform will be provided to create their own fintech products and services.

Key Partners

Main software development partner is Scand, a reputed software development company based in Belarus with CTO Alexander Chernyakevich ( one of the advisors ).He has naerly 20 years of experiance in software development industry.

Scand has 15+ years of experiance of E -commerce application development with 250+ engineers and 550+ completed projects for well known companies such as NASA, IBM, CISCO, FedEx etc.

Company LinkedIn profile — https://www.linkedin.com/company/scand/

Other partners

XB Software, Software and information auditing partner QSA auditor Deiteriy, head hunting partner N2Growth and more partnerships to be negotiated in future.

Advancements

Multi Asset Account which allows individuals to manage all their assets from different banks via one Application using PSD2.
First to offer Cryptobonds and Cryptofutures which will enable businesses to tempt financing from cryptocurrencies.
Innovative system of online identification.
Smart ATMs where anyone can open a bank account with in a short period of time using biometrics(biometric banking) .
First bank to combine blockchain, smart ontracts and machine learning in the infrastructure.

Products for individuals

Products for businesses

Products for developers

Products for traders

Benefits for investors

Token holders will be the first to try an use their products and services.
They will be prioritize according to a loyalty program and many services will be free.
Forty Seven Bank will invest 20% of its early net profit into the loyalty program, and they will be distributed among token holders in the form of FSBT tokens that can be exchanged in their loyalty shop for wide range of products such as hotel bookings,clothing,electronics,airplane tickets, etc.
FSBT are utility tokens that will be needed for businesses and developers in order to use part of the services of Forty Seven Bank, which means FSBT will be demanded digital tool, which would make its price to increase substantially over time.
Only Token holders will be able to put their applications in Forty Seven App Store and get full access to theirWhite Label API, Dev meetups and hackatons.
No fee for using multi asset account.