[ANN][ICO] LakeBanker | Free Banking for the World

[LakeBTC]

Download the LakeBanker White Paper

Mission

Despite advances in technology the traditional banking sector remains inefficient, expensive and for many impossible to access. Our mission is to make core banking services free, for everyone, forever, and to deliver a full suite of financial services, including access to cryptocurrencies, at a much lower cost.

Concept: Crowd-Banking

The LakeBanker system will coordinate a massive network of individuals, merchants and other institutions who will provide banking services to users. The nodes in our network are called "LakeBankers". A LakeBanker provides services that would ordinarily be undertaken by the high street branch of a traditional bank; for example, they can facilitate deposits/withdrawals from the system and conduct KYC ("Know Your Customer") verifications on other users as part of risk management. Any user can become a LakeBanker; indeed the system encourages users to both consume and supply banking services. The network is accessed through a mobile app from which users can initiate requests for services. The app transmits requests to LakeBankers who are free to accept. A key technological component is our artificial intelligence agent, Sage: Its primary functions are (1) to find optimised matches by estimating the time and cost of a specific service and adjusting fees and incentives dynamically based on real-time supply and demand conditions, and (2) to conduct ongoing risk management based on the live and historical financial data it collects from the app.

Our technological solution effectively replaces traditional banking infrastructure with a peer-to-peer market. We call this concept Crowd-Banking. Our Crowd-Banking model has four important implications in terms of executing our mission.

• Exceptional Risk Management: Banking is all about risk. Through our crowd of users we can do more due diligence than any regular bank could do. And, since LakeBankers will tend to be local and know their communities well, we can do it better.
  
• Massively Reduced Overheads: We don’t need high street branches, large corporate offices or many thousands of salaried employees. Instead, we leverage the potential of existing personnel and infrastructure outside our core organisation
• Exponential Growth: When we enter a country, one LakeBanker can service say ten users. The system incentivises them to become LakeBankers themselves and service a further hundred users who can then service a further thousand and so on. Our Crowd-Banking model has exponential growth built into it.
• Reach into Underbanked Populations: Networks of LakeBankers can be created wherever people have access to smartphones. Smartphone saturation is high in the developed world and growing at a phenomenal rate in emerging markets.
  

In the LakeBanker system, money will flow with little friction, from one individual to another, from one currency to another and from one country to another. Technology has overhauled many industries. We do that now for banking. This is how we bring free banking to the world.

Who we are

We are the team behind cryptocurrency exchange LakeBTC.com. LakeBTC started in 2013. It has 10 million user accounts created from 162 countries. We support 42 currencies and 52 payment methods with hundreds more to come. LakeBTC is probably the only major platform without stolen coins, security scandals or flash crashes. As one of the most valuable brand names in the industry, LakeBTC has been proven to be robust, reliable, and trustworthy. Our CEO is Thomas Xie, co-founder of LakeBTC, cryptocurrency veteran and serial entrepreneur.

Beta Version

Initial versions of the LakeBanker system have been developed and tested. Dozens of currencies and payment methods are supported, and more are coming soon. The demand has been very strong even with no public announcement or media reports. The mobile version of LakeBTC.com functions well and will serve as a base for designing the LakeBanker mobile app Our cashflow is healthy, and there are a number of private equities and financial firms who are interested in investing in traditional ways. Nonetheless, we plan to spin-off the LakeBanker project and launch a Token Sale under an independent entity, LakeBanker Foundation. A new token called banc (BAC) will be issued to participants who contribute BTC, ETH or LTC.

The Token BAC

A new token called banc (BAC) will drive transactions within the LakeBanker system, where all fees and interest will be denominated by BAC. BAC is based on the Ethereum blockchain and is ERC20-compliant. The total number of BAC will be 500,000,000 (500 million), of which 250,000,000 will be offered in the Token Sale, 125,000,000 will be reserved for our User Growth Fund, and the remaining 125,000,000 will be distributed to the team. There is a 5-year vesting schedule for the team tokens, where only 20% is available for trading each year. Our token is well-integrated into our business model and has significant, long-term utility in driving transactions in our system. BAC will be tradable on LakeBTC.com soon after the close of our Token Sale. We offer participants near immediate liquidity for our token.

Token Sale

Our Token Sale is divided into two phases. In Phase 1 we offer a small number of BAC tokens at a significant discount. In return, we hope to get feedback from the community and encourage collaboration with early investors. The remaining tokens are offered in Phase 2. Full details of our Token Sale including information on how to participate are available on our website. Participants can purchase BAC tokens by contributing either ETH, BTC or LTC.

Phase 1

Phase 1 is open now. Contributions made before September 29, 2017, 3pm UTC will get the 1st hour price of 1 ETH = 1300 BAC. This is the best price anyone will ever get. Demand appears to be strong----if we are over sold before that time BAC tokens will be allocated to ALL PARTICIPANTS on a pro rata basis. We do this in the interests of fairness. After September 29, 2017, 3pm UTC tokens will be distributed on a first come first served basis.

Phase 2

Phase 2. will be held in mid/late October. BAC tokens will be tradable on LakeBTC.com soon after the close of Phase 2. We offer participants near immediate liquidity for BAC tokens

Read about us

A full list of articles about is is available here

Join us on Social Media

                 

Blog Posts

In addition to our formal Whitepaper we are writing a series of blog posts to help the community further understand our project, to address any concerns they may have and to make useful comparisons between LakeBanker and other projects:

Is Free Banking Possible?

ICO Distribution Models: Team Tokens

Everex vs LakeBanker: What to Look for in a Fintech Startup

Charity or Finance: Humaniq vs LakeBanker

Bounty Program

We offer a bounty program for Bitcointalk signatures, constructive support here and on Social Media. Full details in their own thread

lakebanker.com

[1714940869]

1714940869

[1714940869]

1714940869

[kaneki007]

reserve indonesian translation if needed

[foodstamps]

It is good to see there are a proven network behind this. I wish the best

[gogok]

can you give me mopre info about your project? i mean whitepaper, why you dont have whitepaper

[polat90]

It would be a great pleasure for me to work with you on this project. So I reserved the Turkish translation for my own name.


https://bitcointalk.org/index.php?topic=2038353.0

[wbk940122]

I do not understand what is the use of the project since we are discussing the same project here?

[`kane6283]

whats the reward?? as u said the transactions will be free forever.

[LakeBanker]

can you give me mopre info about your project? i mean whitepaper, why you dont have whitepaper

Many thanks for your interest in our project. More details are on our site.

We will be releasing the white paper shortly.

[LakeBanker]

whats the reward?? as u said the transactions will be free forever.

Our model is similar to many of the world's most successful technology companies. Think about emails, search engines and social media sites. They are free for the average user. As a result, they gather billions of users and make profits on value-added services.

We offer basic banking services for free. For example, user to user or user to merchant payments will be free. This will attract many users. We get big data and generate revenue from value-added financial services.

Our business model will be fully explained in our forthcoming white paper.

[Mazt rhiezt]

How in terms of security will you put the hardest system to hack?
And how many standard terms of speed in transacting?

[`kane6283]

whats the reward?? as u said the transactions will be free forever.

Our model is similar to many of the world's most successful technology companies. Think about emails, search engines and social media sites. They are free for the average user. As a result, they gather billions of users and make profits on value-added services.

We offer basic banking services for free. For example, user to user or user to merchant payments will be free. This will attract many users. We get big data and generate revenue from value-added financial services.

Our business model will be fully explained in our forthcoming white paper.

OK waiting for that

[Raxitto]

Hello,

Very interesting project fund.
If by chance you need it, I would be very interested in contribute to your project with, a professional quality, Portuguese translation for the BtcTalk official thread and also other elements, as the White Paper, Website, articles and interviews.
Let me know if you are interested.

previous jobs:
-- https://bitcointalk.org/index.php?topic=1786648.0
-- https://bitcointalk.org/index.php?topic=1767517.0
-- https://bitcointalk.org/index.php?topic=1792597.0
-- https://bitcointalk.org/index.php?topic=1794030.0
-- https://bitcointalk.org/index.php?topic=1751650.0
-- https://bitcointalk.org/index.php?topic=1728455.0
-- https://bitcointalk.org/index.php?topic=1766556.0
--------------- and more----------------

Good luck and best regards,
Raxitto

[LakeBanker]

How in terms of security will you put the hardest system to hack?
And how many standard terms of speed in transacting?

Set up in 2013, LakeBTC.com has an unrivalled reputation in terms of security.  To achieve that, we have rigid processes for internal controls, audits, information barriers and others.  We leverage our experience from banking and financial services and endeavor to provide the same level of security to safeguard customers' money.

[LakeBanker]

I do not understand what is the use of the project since we are discussing the same project here?

Do you have a specific question about this project? Thanks.

[btceuropen]

interesting.

but how to free ??  what the difference between you and okoay, perfect money etc. they are also free to transfer with a high withdraw fees. the other hand, PayPal is not free to transfer and has a relatively cheaper fee to withdraw.

so if I understand correctly, this project is completely free? or another type?

[cryptastic]

Will keep track, currently not much info given yet in the opening post.

[dongqiang]

We issue a small number of tokens at a discount

so what is the 'small number'?
can you just post it here ?

[larks500]

Reserved Russian translation if required

[LakeBanker]

interesting.

but how to free ??  what the difference between you and okoay, perfect money etc. they are also free to transfer with a high withdraw fees. the other hand, PayPal is not free to transfer and has a relatively cheaper fee to withdraw.

so if I understand correctly, this project is completely free? or another type?

Internal payments will be free (user to user, user to merchant etc.), even international payments.

Deposits and withdrawals is where our crowd-banking model comes in: You send out a deposit request on the app, it gets accepted by a nearby LakeBanker (our AI engine finds optimized matches). You pay they LakeBanker and they credit your account on the system. The LakeBanker earns a fee (in our token BAC) for this service. LakeBanker fees can be subsidized initially by our user growth fund and eventually by our returns from value-added financial services (credit lines, p2p lending, and so on). Certain quotas and conditions may apply.

[LakeBanker]

We issue a small number of tokens at a discount

so what is the 'small number'?
can you just post it here ?

Sure. 2% of the Tokens are on sale in Phase 1.

More details on our site. We will be updating this page continually as things get finalized.