REVIEW WORLD BIT BANK
Friends! We are living at a time when the world is fast changing and all processes in it are gathering pace. Since the Stone Age, man has worked long and hard to survive. With the development of consciousness, man understood that his true purpose was to be happy, and he began to devise ways to make his work easier. That’s how the first steam engines came to be, as well as railways, the first computers and gadgets without which modern society would be unimaginable. Useful inventions give man more freedom, enable him to find more means and time to realise his dreams and capabilities, to engage in his favourite hobby, to socialise with his friends. The capabilities of the human mind are far from being exhausted and many more discoveries await humanity. As the founder of the IT company Vitsolutions, LLC and a cryptocurrency enthusiast, my team and I have spent more than two years developing the project for the world’s first international cryptocurrency bank under the World Bit Bank (WBB) brand. The implementation of this project in the existing financial world will enable each person to become an active participant in the new financial world, the decentralised, mobile and secure blockchain technology, where one can make money right in their home, without leaving your friends and favourite hobbies for long, which makes very person happier and gives them more freedom. Join our project and remember — the future of humanity depends on new technologies, and today you are the creator of your future!
INTRODUCTION
The 21st century is a new world of the Internet. The Internet provides quick and uninterrupted connection in real time, which has changed our interaction with each other. In the future, most processes involving human activity will occur with the aid of digital technologies, including blockchain. This pertains to the financial sphere as well, since most of humanity is not satisfied with the current state of affairs in this sector due to the difficulty in accessing such services. Our project involves the development of new cryptocurrency-financial technologies and their integration into the existing financial and banking system. Furthermore, the implementation of this project will facilitate quick and cheap monetary transactions in real time in the World Bit Bank ecosystem developed by our team and which is based on blockchain technology.
SOLUTION TO THE PROBLEMS — IMPLEMENTATION OF THE World Bit Bank PROJECT
We have already established a company (World Bit Group OÜ, registrikood 14417301 asukoht Parda th 4–411 Tallinn) to conduct the PRE-ICO for implementation of this project, legally in the EU. In February 2018 the company obtained a license to work with cryptocurrency — virtual exchange, virtual wallet services (https://mtr.mkm.ee/taotluse_tulemus/478888, https://mtr.mkm.ee/taotluse_tulemus/478892) in full compliance with Estonian anti-money laundering and financial terrorism laws. The project involves the development of technologies and the establishment of an international cryptocurrency bank under the World Bit Bank (WBB) brand, whose work is based on two key technologies: mobile, as a means of conducting real-time monetary transactions, and blockchain technology — the use of cryptocurrency (Wibcoin token) as the unit of account in the World Bit Bank ecosystem. Throughout its history of cryptocurrencies, there have been numerous attempts at turning them into a traditional means of payment available all over the world. There has not been much success in that area.
Storage of cryptocurrency is a complex procedure for ordinary customers. Customers therefore prefer to keep cryptocurrency in the custody of third-parties. This method eliminates one of the key properties of cryptocurrency, that is controlling own assets. There is also the problem of the wallet using only one cryptocurrency. World Bit Bank customers will not have to be limited to a single cryptocurrency. They will have access to the whole range of assets. The WBB Wallet mobile application — a mechanism which merges tokens and a debit card — offers a solution to these problems. The project consists of the following: World Bit Bank debit cards and the WBB Wallet. World Bit Bank debit cards are traditional Visa/Mastercard debit cards. Payments are made in cryptocurrencies, including the ERC20 standard, i.e. one can pay in BTC, ETH and other cryptocurrencies over a cup of coffee. The WBB Wallet is a mobile application. The result is the opportunity to use cryptocurrencies in the real world. For example, John holds the World Bit Bank debit card and wants to buy potato chips for $3. John has registered and set up his WBB Wallet account. He has also activated the function which allows transactions in multiple assets, say WBB or BTC. Once John places the card over the scanner, the WBB Wallet system receives a query with transaction details from the Visa Network API.
WBB Wallet queries the WBB or BTC exchange rate via its interface and also checks whether the wallet has sufficient funds. If the queries are successful, WBB Wallet approves the transaction and John receives an alert on the transaction on his phone. In the WBB Wallet application, John sees the exact number of WBB or BTC spent on the chips. World Bit Bank (WBB) enables bank customers to pay in any cryptocurrency worldwide as long as they have any digital money on their WBB Wallet.
DEVELOPMENT AND IMPLEMENTATION OF THE TECHNOLOGY
The World Bit Bank (WBB) project offers a new solution developed from blockchain technology and related to 5G finance, specifically: ● absolute transboundariness; ● cross-platform nature; ● easy usage; ● Instantaneousness of transactions; ● funds always under control of the client. The client’s funds cannot be handled without the client’s approval; ● low or zero transaction charges; ● high security thanks to cryptography; ● API with open source code; ● full transparency of source and movement of funds between accounts; ● authentication;
EXCHANGE: World Bit Bank is developing the WBB Exchange software product based on the distributed ledger technology (blockchain) through which online currency exchange transactions, including with cryptocurrencies (buying and selling cryptocurrencies) will be made.g ACCESS: Real-time payments anywhere in the world. SECURITY: World Bit Bank will employ blockchain technology to secure client cryptocurrencies.
username btt :fatimahzahra