Milestones Plan: Trust Limits, Credit and Virtual Cards

Hello,

We continue to inform you about the Milestones plan of the first social cryptobank Datarius. When selling tokens worth $ 10,000,000, our team will launch three new options at once: trust limits, credit cards and virtual cards. Read below about their benefits to the bank’s customers.

Trust Limits

The closest functional analogue is used by Webmoney. If you experienced this option, you’d find no difficulties to work with it within the Datarius system. The trust limit is a set of rules that governs the interaction between two transaction participants within the Datarius system. It allows customers to set the maximum allowable daily, weekly, monthly or annual payments for a group of people or a specific user. They can be used to facilitate the cooperation with executors, borrowers and others. This allows users to automate the lending process. Though the system still ensures that the maximum trust limit amount is not exceeded.

The trust limits will be one of the most important provisions of our P2P platform.

Credit Cards

They are closely related to the trust limits. The borrower creates a request for opening a trust limit on favorable terms. If there is a lender who finds these terms suitable, they enter into a transaction and the borrower receives the desired amount on his card.

The lender can also set his/her own lending rules. The terms of his/her trust limit will be displayed in the general list, so everyone will see it and be able to apply for a loan. If both parties agree with the specified terms, the borrower sets a trust limit.

Datarius collects all the trust limits of a particular user, and rejects applications that do not meet his/her requirements. Technically, the credit cards operate through an intermediate trust limit of the administrative account opened for card sub-accounts with the reverse API.

Virtual Cards

We see a lot of potential in them. They protect users’ funds from cyber fraud: an attacker cannot withdraw funds from the user’s main accounts. Paying with a virtual card, you do not provide the data of the main account, and you can maintain only the minimum balance needed to pay for specific services or goods.

For example, if a user buys dog food on a monthly basis, he/she can create a virtual card and transfer there only the amount necessary to pay for the next food delivery.

Virtual cards make Datarius even a more secure bank.