Taking an advantage from the Ethereum blockchain, the automated banking app Etherbanking is to wind up unwanted costs in the classical world of finance. How does it work? Well, it is just like a bank, though without employees, offices and affiliates.
The Etherbanking was firstly implemented five months ago and it is based on the E-Smartcontract technology. This crypto ledger is to launch ICO in January, emitting 5 million EBC tokens. The initial price for each is $10.
What Can Etherbanking Offer?
Anybody may turn into a miner thanks to Etherbanking. This way the most initiative ones will be taking gains when exploiting Proof of Stake (POS), which is, obviously, based on stakes. Etherbanking’s goal is to develop a decentralized net of customers in order to support and benefit from its ecosystem. That is where the blockchain weigh in. The project is looking up to this technology as it possesses out-and-outer peculiarities.
For example, blockchain purges the demand for costly third parties and the preexisting infrastructure that has to be leaned on. Moreover, the third parties also jeopardize the safety but blockchain verifications and transactions provide much more security.
What The Etherbanking Consists of?
The system of the Etherbanking is based on five peculiar elements.
This component offers a secure loan club for customers as well as group savings and the community mobilization, which is targeted at letting clients transfer funds with the community. At the same tome smart contracts assist in determining the demands of a transaction on behalf of both parties.
Also, there will be suggested open fund certificates, which will allow the customers to pile, as well as smart actuarial policies. The last ones, by the way, are going to change the game in the insurance sphere.
EBC Exchange Platform
This exchange will also support multiple digital coins and will be a trading stage based on the EBC, running all the operations. The exchange’s goal is to connect EBC token with all the virtual currencies. Just the same way bitcoin is being the main link in other crypto pairs.
This app is going to support numerous cryptocurrencies. Therefore, the customers will enjoy fast service, letting them effortlessly change the currencies.
Smart contracts may turn into obstacles on the customer’s path. Particularly, this is dependent on the way they were programmed. Hence, Etherbanking have created its own software. This way, smart contracts will be finalized with a plurality of pre-existing pattern alternatives. Utilizing 2FA security as well as facial, fingerprint and other identification tech trends, Etherbanking plans to make the system safer.
EBC-pay payment gateway
Etherbanking is already advertising the type of payment, amidst which transactions will cost 1% per EBC. That is just a third of the value of traditional credit card payments.
5 million EBC tokens out of 33 million are at stake. Etherbanking commences the ICO on January 10. Each coin will be fractioned into 11 blocks. As each of them will supplement $1 increase, the price of each and every token will be starting from $10.