The recent changes aims at making FSBT stronger
Recently, we unveiled a series of changes to our business model. We switched focus from a company that directly provides financial services to consumers to one that creates an enabling environment for developers to offer retail financial services. These set of changes culminated in a change in our brand name. We announced that our new name is now FSBT Tech.
Importantly, these changes aim at bettering our services. A step up to what we’ve offered in the past. For example, the renaming of the company underscores the shift in our fundamental approach to business. We are now a company that creates an open API platform for developers to develop Fintech applications and services.
In other words, our focus now is primarily on Fintech developers and not consumers of the various financial services that fall under the category. However, we still play a crucial role in helping you, the general consumer of financial services, get the best. We do this by empowering developers with the right set of tools on a unique platform. Thus, thanks to the availability of our infrastructure, developers will be free to create applications according to their vision.
Furthermore, it will be easy for developers to use our services, thanks to the new token-based system. Professionals who would like to utilize our infrastructure to create applications that can improve their service offerings now need to have tokens. Although this has been the case in the past, things are going to be slightly different. We have realized that it is vital to make our FSBT token very strong. To achieve this objective, we have developed a new rate that professionals will be working with going forward.
Our first goal now is to make 1 FSBT token to be equivalent to USD 10 or 10,000 credits.
Whenever developers wish to make a call to our platform, they will have to purchase credits first. One can buy credits only one ways, by using FSBT. Given the nature of our service and our intention to make the FSBT exceptionally strong, it will be easier for developers to buy credit using the token. Interestingly, the higher the number of people who are using the token to purchase credit, the higher the value of the FSBT will rise. Using this approach, we hope to build the value of the FSBT to very high levels over the course of time.
Finally, our change in the brand name and business model will help us address some of the challenges that we have been facing in the past and efficiently serve you. Our change of name communicates the new focus on enabling financial service providers to serve you better than they have been doing before.
While we are expanding our developer’s network, that uses our platform, we are planning to work further on FSBT token design, to make it more demanded. We want to make more options for developers, to use FSBT. It’s our main goal we are focused on now.
To make FSBT stable, we are planning to implement additional feature that will calculate the cost of the credits relatively to: number of developers, amount of FSBT, price on the market and other factors.
We shall use these fora to identify areas in our service offering that we need to improve to ensure that we are the leading provider of open API infrastructure for Fintech developers.
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