Forty Seven: Connecting Financial Worlds
Forty Seven has emerged as an organization aiming to connect the traditional financial world with the cryptocurrency or digital world, giving users and businesses more possibilities for exchanging goods and services.
The company aims to fill a void currently missing in the traditional financial system due to its inability to accommodate the basic needs of businesses and consumers, given the fast pace of technological change that includes the emergence of cryptocurrencies. To this end, it will build a user-friendly platform for businesses and consumers, providing the bridge between the old and new financial worlds in a safe and convenient manner. With cryptocurrencies exploding in value, currently with a combined market capitalization of over $600 billion, traditional financial institutions can no longer ignore their significance. By boldly entering this market and shrewdly planning the technological infrastructure to make this a reality, Forty Seven is poised to disrupt the financial world and become a major force within it.
To bring cryptocurrencies to the mainstream, Forty Seven will offer a user-friendly app that anyone can use. For security, the app will use biometric and passport data for verification. The app will also offer a combination of payment types: SWIFT, credit and debit cards, e-wallets, and cryptocurrency payments. The exchange between cryptocurrencies and fiat currencies using the app will be fast, fair, and transparent, with the transaction history viewable in the user’s account. Similarly, businesses can use the app to view payments, manage loyalty programs with customers and other aspects of their business, and use the data collected to assist in decision-making.
For non-business users, Forty Seven will also offer credit and debit cards, personal and travel insurance, loans, and investment and brokerage services. What makes Forty Seven unique is that the platform will combine all of these services in one single platform to bring convenience to ordinary users, in what is termed a “Multi-Asset Account.” Forty Seven will ensure that all of these services work seamlessly to give users an unparalleled experience in finance.
The token used primarily within the platform is FSBT, which is ERC20 compliant and runs on top of the Ethereum blockchain. During the ICO, which the company will use to raise funds for development and marketing the platform, each FSBT token will sell for 0.0047 ETH. The soft cap is 3600 ETH and the hard cap is 36000 ETH for the ICO. The ICO is scheduled to end March 31, 2018. Given the unique offerings of the Forty Seven project, investors will likely be handsomely rewarded in the long run if the goals of the project are attained.