[ANN] 💠 FSBT TECH 💠 – Open API For Fintech Developers

[ganeshramk]

FORTY SEVEN BANK will also have there owned Smart ATMs. This is what I found at whitepaper.

"The bank will also oer traditional products and services like insurance, payments and transfers, payment history and analysis, cash withdrawals at Forty Seven Bank Smart ATMs, as well as at ATMs of our partnering banks."

Read it and it's nice plan but I don't seem to understand if they mean smart atm in the contest of an ATM that can be used universally or otherwise?

I'm thinking it has to do with the biometric security system that was stated on their whitepaper if i'm not mistaken, so instead of typing digits as your password, you simply do the fingerprint scanning for identification before having access to your funds

That would be a great improvement.
I have too many numbers or passwords and it is easier and safer with a fingerprint or other biometric security system.

This also have its draw backs. If you watch movie you should know better. If one bag get your finger print out of you by any means, they automatically Have access to your funds. And the option changing it ain't there since you can't really change your body's biometric

Now I am afraid that someone will cut off my fingers :-)
a 100% secure system is probably not, but 47BK will come up with something. It will probably be a combination of biometric data, password and 2FA

Nobody will guarantee about 100% security. However some projects in the recent time, do talk about maximum security. I am sure forty seven bank will be in the maximum security category. I kind of having a feeling that they also stand with that view.

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[jamzzz123]

you have a nice project, but you're practically still in it's inception phase, there is a long way to go and i think you'll have a hard time getting the necessary license, nevertheless go for it.

Yep it's still a new project which is just showing it's goals, I think given enough time - the fortysevenbank could be a good competitor for a top30 crypto coin given a sensible timeframe

[Ace44]

47 ICO aims to raise a max of 36’000 ETH to finance the development of the platform, and is currently in the second round, which includes a 20% bonus for early investors.

That's a really good bonus for early investors, it provides a good discount on FSBT tokens which will help short term and long term investors, I would definitely invest now and make the most of the bonus!

Bonus of fortyseven bank is not generous. But this is also not bad. Higher percentage of bonus leads to high dumping rate. So I definitely like this 20% bonus. Over the coming days, this will get reduced right? Thats something I have missed it.

Tokens shouldn't be distributed randomly it can have a serious effect on the token price. Bonuses should be planned out carefully. 20% I think is quite good you do not want to be giving 40% bonus or something I don't think that would be wise.

20% is extremely generous, I'm not really sure what investors expect, if any project is offering over 25% in my eyes it's just a sale technique to generate hype.

47 Bank need to stick with its bonus and not offer it for too long.

Agreed, the bonus should have a time frame, considering the minimum sale price of the ICO, 20% is good enough, the time frame will be streamlined to be reduced periodically over a period of time but not too long as suggested , my opinion

[nxnqauff]

Fortyseven bank is going to follow all banking regulatory is known to us. Do we also know whether they really want to go for banking licence in the future? or do they already have one? May be crypto inclusion in banking is huge hurdle. Any thoughts about that? I am looking forward to hear about that from fortyseven team.

[nesh1]

you have a nice project, but you're practically still in it's inception phase, there is a long way to go and i think you'll have a hard time getting the necessary license, nevertheless go for it.

Yep it's still a new project which is just showing it's goals, I think given enough time - the fortysevenbank could be a good competitor for a top30 crypto coin given a sensible timeframe

I agree with you after the ico i think it can be easily in the top 30 if people intend to wait because if they all dump then it will be hard to rise again it is the best to wait and have patience.

[Owillz]

you have a nice project, but you're practically still in it's inception phase, there is a long way to go and i think you'll have a hard time getting the necessary license, nevertheless go for it.

Yep it's still a new project which is just showing it's goals, I think given enough time - the fortysevenbank could be a good competitor for a top30 crypto coin given a sensible timeframe

It's normal for any project to struggle during the early stage due to some unforseen occurrence. But with time they mostly settle in and operate smoothly with experience. But really I don't think this protect has experienced such dey backs in its start up

[girib1684]

The ICO is currently in its second round, and will end on 31 March 2018. A total of 11 063 829 will be issued in this process, and investors in this current ICO round are eligible for a 20% FSBT bonus.

[rezzx]

FORTY SEVEN BANK will also have there owned Smart ATMs. This is what I found at whitepaper.

"The bank will also oer traditional products and services like insurance, payments and transfers, payment history and analysis, cash withdrawals at Forty Seven Bank Smart ATMs, as well as at ATMs of our partnering banks."

Read it and it's nice plan but I don't seem to understand if they mean smart atm in the contest of an ATM that can be used universally or otherwise?

I'm thinking it has to do with the biometric security system that was stated on their whitepaper if i'm not mistaken, so instead of typing digits as your password, you simply do the fingerprint scanning for identification before having access to your funds

That would be a great improvement.
I have too many numbers or passwords and it is easier and safer with a fingerprint or other biometric security system.

This also have its draw backs. If you watch movie you should know better. If one bag get your finger print out of you by any means, they automatically Have access to your funds. And the option changing it ain't there since you can't really change your body's biometric

Now I am afraid that someone will cut off my fingers :-)
a 100% secure system is probably not, but 47BK will come up with something. It will probably be a combination of biometric data, password and 2FA

You can't get 100%, it doesn't exists. If people manage to get your fingerprints they might aswell just break in to your house and rob you with a gun. So a fingerprint combined with a secure password is considered very secure.

[Gunny95]

The ICO is currently in its second round, and will end on 31 March 2018. A total of 11 063 829 will be issued in this process, and investors in this current ICO round are eligible for a 20% FSBT bonus.

Many ICOs have a sale duration of 4 weeks, or months even, but I think forty seven bank's ico main sale will end much sooner

[faulerwilli]

I have just lunch break and read through the financial model. I have already seen some ICOs, but I have not seen such detailed documents. i love it!
If 47BK reaches the 10mio hardcap and they can implement their plans, then it looks really good in the next few years. If anyone else wants to see many numbers:

https://drive.google.com/file/d/0BzvESRkgX-uDenBWSl9VekkyQ1E/view

[cryptossi]

In the loyalty program they are giving opportunity to Token holders to exchange FSBL tokens into various products and services in Forty Seven Bank loyalty shop.

I like that idea, its a great benefit for 47 bank token holders and this should help increase the value of the token after it's released and listed on exchanges.

I still can't get over the amount of different products and services they're providing to private persons, businesses and developers! 47 Bank are going to have a lot of work to do.

[nxnqauff]

I have just lunch break and read through the financial model. I have already seen some ICOs, but I have not seen such detailed documents. i love it!
If 47BK reaches the 10mio hardcap and they can implement their plans, then it looks really good in the next few years. If anyone else wants to see many numbers:

https://drive.google.com/file/d/0BzvESRkgX-uDenBWSl9VekkyQ1E/view

Thats true. Fortyseven bank has touched upon and covered every minute details related t the project. In my opinion, the team has done their homework really well before the initiation of this project. Thats one of the main reason for me to stick to this project.

[ibininja]

FORTY SEVEN BANK will also have there owned Smart ATMs. This is what I found at whitepaper.

"The bank will also oer traditional products and services like insurance, payments and transfers, payment history and analysis, cash withdrawals at Forty Seven Bank Smart ATMs, as well as at ATMs of our partnering banks."

Read it and it's nice plan but I don't seem to understand if they mean smart atm in the contest of an ATM that can be used universally or otherwise?

I'm thinking it has to do with the biometric security system that was stated on their whitepaper if i'm not mistaken, so instead of typing digits as your password, you simply do the fingerprint scanning for identification before having access to your funds

That would be a great improvement.
I have too many numbers or passwords and it is easier and safer with a fingerprint or other biometric security system.

This also have its draw backs. If you watch movie you should know better. If one bag get your finger print out of you by any means, they automatically Have access to your funds. And the option changing it ain't there since you can't really change your body's biometric

Now I am afraid that someone will cut off my fingers :-)
a 100% secure system is probably not, but 47BK will come up with something. It will probably be a combination of biometric data, password and 2FA

You can't get 100%, it doesn't exists. If people manage to get your fingerprints they might aswell just break in to your house and rob you with a gun. So a fingerprint combined with a secure password is considered very secure.

The whole combination is what makes it secure. You can make it difficult for majority to hack into it. If you are able to hack into it then be sure you can hack into any bank lol. In most cases all banks use similar security technologies; those technologies do not change overnight.

[Cnote328]

I have just lunch break and read through the financial model. I have already seen some ICOs, but I have not seen such detailed documents. i love it!
If 47BK reaches the 10mio hardcap and they can implement their plans, then it looks really good in the next few years. If anyone else wants to see many numbers:

https://drive.google.com/file/d/0BzvESRkgX-uDenBWSl9VekkyQ1E/view

Thats true. Fortyseven bank has touched upon and covered every minute details related t the project. In my opinion, the team has done their homework really well before the initiation of this project. Thats one of the main reason for me to stick to this project.

47bank whitepaper is really well detailed and insightful, when I first came across it and saw it was about 71 pages I was like I ain't reading this to the end but with every sentence I read the project got more interesting.

 If they can implement all their plans like faulerwilli stated I believe 47bank will have great future exploit.  

[Anilg]

FORTY SEVEN BANK will also have there owned Smart ATMs. This is what I found at whitepaper.

"The bank will also oer traditional products and services like insurance, payments and transfers, payment history and analysis, cash withdrawals at Forty Seven Bank Smart ATMs, as well as at ATMs of our partnering banks."

Read it and it's nice plan but I don't seem to understand if they mean smart atm in the contest of an ATM that can be used universally or otherwise?

Smart ATM tend to just mean not the old fashioned crappy atm's but you know a modern implementation with perhaps QR code scanning etc, i'd imagine it would have to be considering it has to deal with crypto wallets, this is probably the most exciting thing i've heard yet

I am expecting all those services would be exposed through an API and developers would just use them in their development. That would would make for a great boost for fintechs. I understand a developer would have to go through a set of authentication steps and KYC maybe but boy it would solve a heck loads of problems just plugging in to existing platforms.

Guys can you share more info on smart ATM concept? Or share the link where I can read how this concept will work? I know only traditional ATMs.

[nxnqauff]

FORTY SEVEN BANK will also have there owned Smart ATMs. This is what I found at whitepaper.

"The bank will also oer traditional products and services like insurance, payments and transfers, payment history and analysis, cash withdrawals at Forty Seven Bank Smart ATMs, as well as at ATMs of our partnering banks."

Read it and it's nice plan but I don't seem to understand if they mean smart atm in the contest of an ATM that can be used universally or otherwise?

Smart ATM tend to just mean not the old fashioned crappy atm's but you know a modern implementation with perhaps QR code scanning etc, i'd imagine it would have to be considering it has to deal with crypto wallets, this is probably the most exciting thing i've heard yet

I am expecting all those services would be exposed through an API and developers would just use them in their development. That would would make for a great boost for fintechs. I understand a developer would have to go through a set of authentication steps and KYC maybe but boy it would solve a heck loads of problems just plugging in to existing platforms.

Guys can you share more info on smart ATM concept? Or share the link where I can read how this concept will work? I know only traditional ATMs.

You are touching upon interesting question which I also wanted to ask. I think you can use crypto to get FIAT from your multi-account. But I will also wait for the clarification from the team.

Everyday I am learning new things about fortyseven bank. Getting more and more interested in this project.

[jamzzz123]

FORTY SEVEN BANK will also have there owned Smart ATMs. This is what I found at whitepaper.

"The bank will also oer traditional products and services like insurance, payments and transfers, payment history and analysis, cash withdrawals at Forty Seven Bank Smart ATMs, as well as at ATMs of our partnering banks."

Read it and it's nice plan but I don't seem to understand if they mean smart atm in the contest of an ATM that can be used universally or otherwise?

I'm thinking it has to do with the biometric security system that was stated on their whitepaper if i'm not mistaken, so instead of typing digits as your password, you simply do the fingerprint scanning for identification before having access to your funds

That would be a great improvement.
I have too many numbers or passwords and it is easier and safer with a fingerprint or other biometric security system.

This also have its draw backs. If you watch movie you should know better. If one bag get your finger print out of you by any means, they automatically Have access to your funds. And the option changing it ain't there since you can't really change your body's biometric

Now I am afraid that someone will cut off my fingers :-)
a 100% secure system is probably not, but 47BK will come up with something. It will probably be a combination of biometric data, password and 2FA

You can't get 100%, it doesn't exists. If people manage to get your fingerprints they might aswell just break in to your house and rob you with a gun. So a fingerprint combined with a secure password is considered very secure.

The whole combination is what makes it secure. You can make it difficult for majority to hack into it. If you are able to hack into it then be sure you can hack into any bank lol. In most cases all banks use similar security technologies; those technologies do not change overnight.

Exactly, this is the reason for cryptocurrencys coming out, is higher security and less of the hassle with banks, ( monitoring your money, charge fees, if you wanted to withdraw £5000 you cant with a bank but can with crypto)

As said above, if you are able to hack into that, then every bank will be screwed since they use similar technology.

[BitLord24]

Like the idea of this and how devs make this possible, wish you best of luck.

[phantam]

FORTY SEVEN BANK will also have there owned Smart ATMs. This is what I found at whitepaper.

"The bank will also oer traditional products and services like insurance, payments and transfers, payment history and analysis, cash withdrawals at Forty Seven Bank Smart ATMs, as well as at ATMs of our partnering banks."

Read it and it's nice plan but I don't seem to understand if they mean smart atm in the contest of an ATM that can be used universally or otherwise?

I'm thinking it has to do with the biometric security system that was stated on their whitepaper if i'm not mistaken, so instead of typing digits as your password, you simply do the fingerprint scanning for identification before having access to your funds

That would be a great improvement.
I have too many numbers or passwords and it is easier and safer with a fingerprint or other biometric security system.

This also have its draw backs. If you watch movie you should know better. If one bag get your finger print out of you by any means, they automatically Have access to your funds. And the option changing it ain't there since you can't really change your body's biometric

Now I am afraid that someone will cut off my fingers :-)
a 100% secure system is probably not, but 47BK will come up with something. It will probably be a combination of biometric data, password and 2FA

You can't get 100%, it doesn't exists. If people manage to get your fingerprints they might aswell just break in to your house and rob you with a gun. So a fingerprint combined with a secure password is considered very secure.

The whole combination is what makes it secure. You can make it difficult for majority to hack into it. If you are able to hack into it then be sure you can hack into any bank lol. In most cases all banks use similar security technologies; those technologies do not change overnight.

Exactly, this is the reason for cryptocurrencys coming out, is higher security and less of the hassle with banks, ( monitoring your money, charge fees, if you wanted to withdraw £5000 you cant with a bank but can with crypto)

As said above, if you are able to hack into that, then every bank will be screwed since they use similar technology.

Well ya nothings ever 100% safe, but crypto thats well done and banks that have things like 2fa can go very far to properly securing peoples money, as for "withdrawing" the point of crypto is to never have to withdrawal, you just have your money in a hotwallet whenever you want and your savings is in a cold wallet ... as more stores/locations start accepting crypto the thought of withdrawing to fiat should disappear

[Anilg]

FORTY SEVEN BANK will also have there owned Smart ATMs. This is what I found at whitepaper.

"The bank will also oer traditional products and services like insurance, payments and transfers, payment history and analysis, cash withdrawals at Forty Seven Bank Smart ATMs, as well as at ATMs of our partnering banks."

Read it and it's nice plan but I don't seem to understand if they mean smart atm in the contest of an ATM that can be used universally or otherwise?

I'm thinking it has to do with the biometric security system that was stated on their whitepaper if i'm not mistaken, so instead of typing digits as your password, you simply do the fingerprint scanning for identification before having access to your funds

That would be a great improvement.
I have too many numbers or passwords and it is easier and safer with a fingerprint or other biometric security system.

This also have its draw backs. If you watch movie you should know better. If one bag get your finger print out of you by any means, they automatically Have access to your funds. And the option changing it ain't there since you can't really change your body's biometric

Now I am afraid that someone will cut off my fingers :-)
a 100% secure system is probably not, but 47BK will come up with something. It will probably be a combination of biometric data, password and 2FA

You can't get 100%, it doesn't exists. If people manage to get your fingerprints they might aswell just break in to your house and rob you with a gun. So a fingerprint combined with a secure password is considered very secure.

The whole combination is what makes it secure. You can make it difficult for majority to hack into it. If you are able to hack into it then be sure you can hack into any bank lol. In most cases all banks use similar security technologies; those technologies do not change overnight.

Exactly, this is the reason for cryptocurrencys coming out, is higher security and less of the hassle with banks, ( monitoring your money, charge fees, if you wanted to withdraw £5000 you cant with a bank but can with crypto)

As said above, if you are able to hack into that, then every bank will be screwed since they use similar technology.

Security is top priority for banking industry and I FORTY SEVEN BANK is taking care of it. But I still like to know first how this ATM will work,