[ANN][ICO] Change - The First Decentralysed Crypto Bank [ICO September 16th]

[gusgusest]

Interested in your ICO but when I click on https://change-bank.com/ico/ I see the following

"Change does not onboard investors from the United States, Estonia, or Singapore."




How are you a decentralised bank for e-residents but you do not onboard investors from Estonia or Singapore??

We have been advised by our legal team to do this. Thanks for your understanding.

Meaning that this ICO does not meet the Securities and Futures Act (Cap. 289) (SFA) of Singapore and this token
constitute a product like a security? But your office is based in Singapore and your lawyers advised you to just "avoid
onboarding Singaporeans" to go around this regulation?

Do take note that conducting this ICO on Singapore soil means that you are operating under Singapore's laws.. you are treading on
dangerous grounds. I do not mean to give any negative comments but just want to advise caution as any negative news in the
crypto space is bad for everyone in general..

The ICO is carried out by companies registered in Estonia (in the European Union), where cryptocurrencies are not regulated. The platform is designed to work as a global application, meaning it will not be tied to any particular country. As both the SEC (US) and the MAS (Singapore) have issued notices on ICOs, we have received council to not accept investors from respective countries.

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[ChangeIsComing]

This is the future of banking! https://youtu.be/fHyzf-rQPdE

[RonMank]

What of the three things ( mastercard, app, marketplace) actually exist?

[pikadut]

What of the three things ( mastercard, app, marketplace) actually exist?

I think there will be, and it seems that this project is very convincing us 
hopefully this true to be trusted and successful

[michael99]

It looks like interesting project, but I have a couple of questions.
Do you guys have experience in getting banking licence in the EU or any other country? Why are you saying in the whitepaper that you will apply for banking licence only when reaching the last milestone? I do not think that you need to have so much money to open a bank...

[gusgusest]

What of the three things ( mastercard, app, marketplace) actually exist?

Change started off as a fiat product with a closed beta (https://changeapp.wordpress.com/2017/05/26/we-have-invited-the-first-testers-to-our-office/) and a Mastecard agreement. We are currently working on modifciations to the product to make it cryptocurrency compatible.

Regarding the marketplace - we are currently integrating with the first three fintech companies (Smartly (https://www.smartly.sg), Danabijak (https://danabijak.com) and BitOfProperty (http://www.bitofproperty.com/).

[gusgusest]

It looks like interesting project, but I have a couple of questions.
Do you guys have experience in getting banking licence in the EU or any other country? Why are you saying in the whitepaper that you will apply for banking licence only when reaching the last milestone? I do not think that you need to have so much money to open a bank...

Change doesn't intend to apply for a traditional banking licence at first, which is due to the decentralised marketplace model. However, in the future we do wish to offer our customers IBAN accounts etc. On the contrary, this requires vast amounts of capital reserves.

If you are more interested in banking licenses, I could possibly arrange a call with the team to walk through the financial plan. Please leave a private message so I could get you in touch with the team.

[simplyToshi]

Is there update about pre sale yet ?

where can we send ? and when - minimum contribution is 10 ETH yes ?

please update as soon as possible

[whaleICOer]

Can you please let me know when can we expect a live product  , proof of concept or live beta ?

[dragosg]

Can you please let me know when can we expect a live product  , proof of concept or live beta ?

Hello whaleICOer ,  we expect out product to be up and running end of the year - worst case scenario q1 of 2018.

We do have a running beta for the fiat product which we have now taken offline and adjusting for crypto.

Hope that helps.

[spinachfork]

I have a quick question.  I went over the white paper and as I understand it the total number of coins is going to be based on this formula

(Total ETH Raised*500)*2.5 - with 40% of them being released on the market . is this correct ?

[ChangeIsComing]

Hey all, read our latest blog post about Smartly's and Change's cooperation https://medium.com/@changebank/introducing-smartly-a-core-building-block-of-change-47954e7d363f

[simplyToshi]

still no update on the pre sale can you please let me know - i understand telegram group will know first about it is that true ?

[mrongoz22]

If you see and observe the roadmap of this project I think this project has a great chance to succeed because the concept is interesting and familiar in world cryptocurency goodjob dev

[gusgusest]

still no update on the pre sale can you please let me know - i understand telegram group will know first about it is that true ?

Information regarding the pre-sale will be sent to people who've saved their seat on www.change-bank.com. The e-mail will be sent out very soon!

[ChangeIsComing]

Watch our latest video about Kristjan, the CEO of Change and how the idea was born https://www.youtube.com/watch?v=3bEt_wyvdAQ

[Taylorw]

How many CAGs is going to be released in total? Could it be calculated by the following:
250,000ETH x ex.rate 500CAG/ETH=125,000,000 CAG ? Is it the correct ammount or not?

[Paidi]

still no update on the pre sale can you please let me know - i understand telegram group will know first about it is that true ?

Information regarding the pre-sale will be sent to people who've saved their seat on www.change-bank.com. The e-mail will be sent out very soon!

Yes to participate first go to website change-bank.com/ico/ scroll down and grab your seat , input email and the amount of eth you want to invest
To participate at least you prepare 10 eth for the first 500 investors at presale will be awarded a bonus of 30% I found this information on white paper page-36.

[gusgusest]

How many CAGs is going to be released in total? Could it be calculated by the following:
250,000ETH x ex.rate 500CAG/ETH=125,000,000 CAG ? Is it the correct ammount or not?

Hey,

The total amount of CAG will be dependent on 2 variables:

1. Amount of ETH sent into the funding contract (the more people send ETH the more CAG tokens are created)
2. Participation rates during bonus periods (the more people participate during bonus periods, the more CAG tokens there will be)

[MiBambino]

Great article comparing Change to similar concepts!

https://medium.com/@CryptoJudgemnt/comparing-cryptobanks-tenx-monaco-change-polybius-tokencard-bankera-54345c04c6a7