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

[ganeshramk]

4 USD per token approx seems to be bit expensive, but There is no difference if you have 10M tokens priced at 5  USD or 100M tokens priced at 0.5 USD.
Project has great potential in terms of market cap, the price of a token does not matter, as I expect market capitalization will soar in future

The only aspect it matters is the psychological aspect. For some reason people think there is a higher chance that a token worth 1 cent will be worth 1 dollar some day, than a token worth 1 dollar will be worth 100 dollar. But as you said, this is complete nonsense if you don't consider the market cap. The market cap is the only thing that actually matters. The price of the token itself ,without taking into account the token supply, does not say much.

Pricing of the tokens is purely based on the value of the project and what developer is thinking about the potential future of the product that is coming out of the project. In case of forty seven bank, the price seems reasonable considering all the hidden and direct benefits of the FSBT tokens. I personally don't feel this as expensive.

[BaliScript]

4 USD per token approx seems to be bit expensive, but There is no difference if you have 10M tokens priced at 5  USD or 100M tokens priced at 0.5 USD.
Project has great potential in terms of market cap, the price of a token does not matter, as I expect market capitalization will soar in future

The only aspect it matters is the psychological aspect. For some reason people think there is a higher chance that a token worth 1 cent will be worth 1 dollar some day, than a token worth 1 dollar will be worth 100 dollar. But as you said, this is complete nonsense if you don't consider the market cap. The market cap is the only thing that actually matters. The price of the token itself ,without taking into account the token supply, does not say much.

I would give you merit for this comment if I had one. But unfortunately bitcointalk was not so generous with giving merits to people. Anyways, the psychological aspect of a token price is very important. People actually do believe and hope that cheap tokens will be worth a lot someday. It does not really work like that

[Zombie259]

The diagrams in the Onepager start only from 2020.
When does the emission of loyalty tokens start?
When does the distribution takes place, end of year or quarterly?

[nxnqauff]

I've already wondered what I do when I really earn a lot of money with cryptocurrencies. 47BK could help me with the decision: I just set up my own bank :-) the possibility to build my bank based on their platform is really fascinating.
And that is not the only possibility that offers itself here, but I have to read a lot of information now. how could 47BK stay under my radar for so long?

I really like the idea that I have my own Bank 
Account Management, Deposit and Loans, Investments and Brokerage and Others in one app sounds good.

Having your own bank is awesome xD. But really important question though what will happen when the funds are stolen ? Will the devs give the money back to the investors ? This is really important to know.

I did not think about such questions. Let's see what is the answer we get from the forty seven team. However, this issue is same as like whatever conventional Bank we use. Sometimes insurance covers the loss and most of the time it's with the customers.

[ganeshramk]

Price of token and it's value are always in discussion for all the ICOs. But think about the supply, market cap, etc.. when the price seems psychologically high, it did not mean it's really high price. Considering all the factors, FSBT is priced reasonably good. We will see much higher value after the listing for sure.

[Ace44]

Let's face it... The world is heading towards cryptocurrency in a full force.. There will be increased mass adoption of this technology in the nearest future especially when it gets accepted into mainstream media... No matter the FUD and the various sanctions here and there... CRYPTOCURRENCY is here to stay and fortyseven is to be the bank without branches that help save our assets... We are here for a long long time

Yes and something about this project fascinates me, it gives customers the opportunity to have access to all their accounts in various banks and crypto wallets as well as investments and savings in cryptocurrency and fiat, all connected to one application, seriously, this is way over the top, i mean we are talking about bringing 2 different worlds together, fascinating

[jamzzz123]

Price of token and it's value are always in discussion for all the ICOs. But think about the supply, market cap, etc.. when the price seems psychologically high, it did not mean it's really high price. Considering all the factors, FSBT is priced reasonably good. We will see much higher value after the listing for sure.

I think it's reasonably priced taking into account the hard cap at 11,000,000 and the quality of the project with its exciting plans.

Q2 will be an interesting time with the potential software infrastructure plans, it's a good time to buy before the exciting plans of implementation and with a generous 20% at the moment!

[cryptossi]

I've just found out about this project and I have to admit I'm very impressed by 47 Bank and their aim to become a Bank as a Service platform for fintech developers.

Also coming from the UK I understand how important FCA authorisation is for fintech companies and how this will help improve investors confidence.

[kaar]

Price of token and it's value are always in discussion for all the ICOs. But think about the supply, market cap, etc.. when the price seems psychologically high, it did not mean it's really high price. Considering all the factors, FSBT is priced reasonably good. We will see much higher value after the listing for sure.

Yes that's pretty much what I said. the total maximum total supply is 11 mil tokens. At 4 dollar each that's a maximum MC of ~44 mil dollar which is very reasonable. People who think that only tokens with low initial price are likely to see large increase in price are simply wrong. Those are usually the same people who dump their tokens quickly or make other stupid decisions. So if the price of the token will drive away bad investors, this is actually a good thing.

[cryptossi]

I've already wondered what I do when I really earn a lot of money with cryptocurrencies. 47BK could help me with the decision: I just set up my own bank :-) the possibility to build my bank based on their platform is really fascinating.
And that is not the only possibility that offers itself here, but I have to read a lot of information now. how could 47BK stay under my radar for so long?

I really like the idea that I have my own Bank 
Account Management, Deposit and Loans, Investments and Brokerage and Others in one app sounds good.

Having your own bank is awesome xD. But really important question though what will happen when the funds are stolen ? Will the devs give the money back to the investors ? This is really important to know.

There is a lot of risk, but the 47 Bank team are being extra vigilant to ensure maximum safety for clients funds.

Even now they're already doing this by checking through social media for fake accounts and looking for fake websites imitating them.

If you check the telegram page one of the admins posted the following message;

"Beware, fraudsters are mimicking Forty Seven team members' accounts!
Only official accounts you can trust are
@VLADIMIRTOMKO, @mskobLovs , @ALEXMALINZ, @ygorrra, @AristoVD, @James_support47, @maksim47"

So if you're using the telegram group please refer to the list above and check you're speaking with an official team member!!

[faulerwilli]

I've already wondered what I do when I really earn a lot of money with cryptocurrencies. 47BK could help me with the decision: I just set up my own bank :-) the possibility to build my bank based on their platform is really fascinating.
And that is not the only possibility that offers itself here, but I have to read a lot of information now. how could 47BK stay under my radar for so long?

I really like the idea that I have my own Bank 
Account Management, Deposit and Loans, Investments and Brokerage and Others in one app sounds good.

Having your own bank is awesome xD. But really important question though what will happen when the funds are stolen ? Will the devs give the money back to the investors ? This is really important to know.

wich funds to you mean, the funds that deposit my potential customers in my bank opened by me? think for that I would be responsible
or do you mean the deposits at the ico? I believe ICO investments will be replaced by 47BK should they be stolen. it's all about their reputation

[rathaha10]

How much is the hardcap in USD ? Would like to know it I am curious. One more are USA citizens allowed to participate in the ICO ?  Looks like a solid ICO. Thanks !

[rezzx]

How much is the hardcap in USD ? Would like to know it I am curious. One more are USA citizens allowed to participate in the ICO ?  Looks like a solid ICO. Thanks !

The hard cap is not calculated in USD, but rather in ETH. You can find it in the first post, or in the white paper - hard cap is 36,000 ETH, or around 30 million USD, if you calculate by 825 USD to ETH.

[kaar]

I've already wondered what I do when I really earn a lot of money with cryptocurrencies. 47BK could help me with the decision: I just set up my own bank :-) the possibility to build my bank based on their platform is really fascinating.
And that is not the only possibility that offers itself here, but I have to read a lot of information now. how could 47BK stay under my radar for so long?

I really like the idea that I have my own Bank 
Account Management, Deposit and Loans, Investments and Brokerage and Others in one app sounds good.

Having your own bank is awesome xD. But really important question though what will happen when the funds are stolen ? Will the devs give the money back to the investors ? This is really important to know.

wich funds to you mean, the funds that deposit my potential customers in my bank opened by me? think for that I would be responsible
or do you mean the deposits at the ico? I believe ICO investments will be replaced by 47BK should they be stolen. it's all about their reputation

I don't think he talks about the ICO money (which they probably have an insurance in case it gets stolen). The question needs to be more specific though as I'm not quite sure I understand what he means. Which funds are stolen exactly? Once people set their own networks on the blockchain, 47BK won't have any control on their tokens or funds, that's the whole point of decentralized network. Please be more specific so we can try to answer the question.

[ibininja]

I've already wondered what I do when I really earn a lot of money with cryptocurrencies. 47BK could help me with the decision: I just set up my own bank :-) the possibility to build my bank based on their platform is really fascinating.
And that is not the only possibility that offers itself here, but I have to read a lot of information now. how could 47BK stay under my radar for so long?

I really like the idea that I have my own Bank 
Account Management, Deposit and Loans, Investments and Brokerage and Others in one app sounds good.

Having your own bank is awesome xD. But really important question though what will happen when the funds are stolen ? Will the devs give the money back to the investors ? This is really important to know.

wich funds to you mean, the funds that deposit my potential customers in my bank opened by me? think for that I would be responsible
or do you mean the deposits at the ico? I believe ICO investments will be replaced by 47BK should they be stolen. it's all about their reputation

I don't think he talks about the ICO money (which they probably have an insurance in case it gets stolen). The question needs to be more specific though as I'm not quite sure I understand what he means. Which funds are stolen exactly? Once people set their own networks on the blockchain, 47BK won't have any control on their tokens or funds, that's the whole point of decentralized network. Please be more specific so we can try to answer the question.

I do not think that is an issue for multiple reasons; their implementation of  OAuth 2 protocol to authorize bank access to account which also means that you can revoke access anytime. There are many details to this point and I think it is one of the strong suits of seventy four bank so inherently you are adopting european PSD2 which enables bank users to use third-party providers to manage their finances so it has to conform to a set of standards especially security features.

Forty Seven also allows  biometric SDK for biometric authentication. Oh ya let us not forget the Access control on the API level; They will adopting a strict policy to allow access and it is a must. I think the whole process is properly thought through and should not be a worry there.

[Anilg]

I've already wondered what I do when I really earn a lot of money with cryptocurrencies. 47BK could help me with the decision: I just set up my own bank :-) the possibility to build my bank based on their platform is really fascinating.
And that is not the only possibility that offers itself here, but I have to read a lot of information now. how could 47BK stay under my radar for so long?

I really like the idea that I have my own Bank 
Account Management, Deposit and Loans, Investments and Brokerage and Others in one app sounds good.

Having your own bank is awesome xD. But really important question though what will happen when the funds are stolen ? Will the devs give the money back to the investors ? This is really important to know.

wich funds to you mean, the funds that deposit my potential customers in my bank opened by me? think for that I would be responsible
or do you mean the deposits at the ico? I believe ICO investments will be replaced by 47BK should they be stolen. it's all about their reputation

I don't think he talks about the ICO money (which they probably have an insurance in case it gets stolen). The question needs to be more specific though as I'm not quite sure I understand what he means. Which funds are stolen exactly? Once people set their own networks on the blockchain, 47BK won't have any control on their tokens or funds, that's the whole point of decentralized network. Please be more specific so we can try to answer the question.

I do not think that is an issue for multiple reasons; their implementation of  OAuth 2 protocol to authorize bank access to account which also means that you can revoke access anytime. There are many details to this point and I think it is one of the strong suits of seventy four bank so inherently you are adopting european PSD2 which enables bank users to use third-party providers to manage their finances so it has to conform to a set of standards especially security features.

Forty Seven also allows  biometric SDK for biometric authentication. Oh ya let us not forget the Access control on the API level; They will adopting a strict policy to allow access and it is a must. I think the whole process is properly thought through and should not be a worry there.

Security is always main concern for financial houses without implementing proper/strong access control there is no guarantee of security. Its good to see 47BK is giving importance to it.

[Nathan01]

The 47 project plan is flexible and accommodating to both fiat and crypto.. Combining traditional banking system with modern cloud banking wow!. .. This is huge,  as I keep on the white paper I see huge potential and opportunities... Hmmmm

[Ace44]

Price of token and it's value are always in discussion for all the ICOs. But think about the supply, market cap, etc.. when the price seems psychologically high, it did not mean it's really high price. Considering all the factors, FSBT is priced reasonably good. We will see much higher value after the listing for sure.

I think it's reasonably priced taking into account the hard cap at 11,000,000 and the quality of the project with its exciting plans.

Q2 will be an interesting time with the potential software infrastructure plans, it's a good time to buy before the exciting plans of implementation and with a generous 20% at the moment!

Yea, the software infrastructure is top notch, Forty Seven Bank is creating that avenue for migration of traditional banking into cryptocurrency, like an awareness for customers to embrace crypto, this is huge with a very viable and untapped market, someone was spreading FUD about the united kingdom ditching crypto, i hope going through the whitepaper will be convincing enough for a lot to embrace this as it is stated that the government of united Kingdom and regulatory authorities have advanced favorable conditions towards digital assets and crytocurrencies

[Anilg]

Forty Seven bank is planning to start of providing full-scale banking services by June 2019.
So 47BK will have all features of todays banking plus additional services? Or its completly different banking?
How many countries 47BK plan to operate by 2019 (I am considering this as actual bank which was world presence) or I misunderstood something?

[ganeshramk]

Forty Seven bank is planning to start of providing full-scale banking services by June 2019.
So 47BK will have all features of todays banking plus additional services? Or its completly different banking?
How many countries 47BK plan to operate by 2019 (I am considering this as actual bank which was world presence) or I misunderstood something?

Regarding product and additional services: Individuals are connected to Payment Services Directive 2 (PSD2) which will come into force this year in the EU. The directive obliges all the EU banks to open access to their infrastructure via API for third parties. Forty seven bank is going to take advantage of this issue and creates Multi-Asset Account - different bank accounts + all crypto wallets + all investments.

This is another huge thing in FSBT.