New Kids on the Block(chain): Bankera

Published in

Zehnder Advisory

4 min readOct 30, 2017

Disclaimer: This article is for educational purposes only and does not provide financial or investment advice. The reader is aware that there are special risks involved in dealing with blockchain and cryptocurrency assets.

Bankera is building the bank for the digital era. They make use of blockchain technology not only as a marketing stunt – it has a real world application and blockchain is a surplus to their service. Their preICO has hit the press as being one of the most successful so far and sold out in no time raising a record preICO sum (Source: Bloomberg). Their ICO starts on November 27, 2017.

The team behind Bankera features well-known industry veterans and politicians including Lon Wong, President of the NEM.io Foundation and Antanas Guoga, Member of European Parliament (also known as TonyG at the poker tables).

From a product perspective Bankera has a fully working MVP in place. That sets them apart from many ICO-projects. SpectroCoin is a working platform that provides deposits, exchanges, buying cryptocurrencies and more for over 400'000 users at the moment of writing. Bankera will be an operational fork of SpectroCoin that guarantees a user base from day one.

Summary

Bankera is the bank for the digital era.
They are going to be a licensed bank.
The token is called BNK (Bankers) and available as an ERC20 token or a NEM:mosaic.
SpectroCoin MVP.
Backed by industry veterans and politicians.
Advised by many known figures from the industry.

The Vision

Many start-ups are trying to revolutionise financial services. However, they mostly focus on a niche and cannot take advantage of economies of scale, which is one of the main advantages enjoyed by traditional banks that may not be as technologically advanced. Bankera plans to achieve the scale to offer traditional and emerging banking products in a technology driven Blockchain era environment, eventually becoming the one-stop shop for all banking requirements. – Banker Whitepaper

In short Bankera is building a bank, offering all traditional banking products – the big difference is: funding through an ICO and no old debt.

Bankera is an operational fork of a fully working product (they call it their MVP – although it’s more than that).

What makes Bankera unique

Bankera will be offering a wide range of products and services to their customers:

Payments, IBAN accounts, debit cards, payment processing.
Goal to become a regulated European bank.
Web service with 24/7 support and 20+ languages.
Investment products offered by Bankera.
Loans and deposits.

For a detailed list of all services they are going to offer see the whitepaper.

The BNK Token

The BNK Token (pronounced „Banker“) is a dividend token issued on the NEM blockchain as well as on the Ethereum blockchain. The Ethereum token is an ERC20-Token and the NEM version is a mosaic on the NEM blockchain (something alike NEM:BNK, has not been decided at the moment of writing).

The token provides a „transactional revenue share“ of 20% of the total revenues within the network that gets sent out to all token holders pro rata (e.g. if you own 5% of all BNK you receive 5% of the 20% transactional revenue share).

How to get involved

The ICO starts November 27, 2017 and lasts until the end of February 2018. The following steps are needed to participate:

Register an account with SpectroCoin HERE (this is a referral link from the author, thank you for using it).
Fund your account using one of the many options. Cryptocurrencies: BTC, ETH, NEM (will be added shortly) and many more; Fiat: USD, EUR and CHF. For fiat deposits you need to verify your account in time by uploading ID-documents.
From November 27 you can log in and buy BNK tokens in your SpectroCoin account. The live countdown is displayed on the Bankera website.
Spread the word!

More ICO details

How many tokens will be available for purchase during the ICO?
During the ICO 30% of the tokens, 7.5 bn in total, will be available for sale to the public.
What is the token price during the ICO?
The BNK starting price during the ICO will be 0.017 EUR. However, there will also be soft caps during the ICO, so the price of each token will increase by 0.001 EUR after each 1,000,000,000 BNK issued. – Bankera Blog

Extra Bonus

Participants of pre-ICO and ICO contributing more than 1,000 EUR will be eligible to receive a Bankera’s card and IBAN account for free (initially at SpectroCoin). However, some restrictions might apply depending on the country of residence of the participant, as currently, Bankera’s products are not available globally. – Banker Whitepaper