Hello! Why do you use blockchain technology for your project? What will it provide?
Thanks for your question!
Blockchain tech enables fast, reliable and cheap remittance of values across the borders of states and continents. Operating our tokens makes it possible to increase the user trust in the system providing the simplest and the most understandable mechanism for converting fiat currencies into electronic ones. The issue of tokens occurs only on condition of the fiat money being brought into the system, which is intended to ensure the stability of the exchange rate.
Moreover, blockchain use makes system transparent and allows auditing by independent assessors who are not affiliated with Bank4YOU Group. Each user of Bank4YOU’s mobile wallet has an account where tokens can be stored in different local currencies as well as in the BFY token. Users can use available tokens for money remittances, to exchange them for other tokens, or can exchange them for local fiat currencies through an agent
system or use as payment for goods and services. Access to the account management system can be carried out through a web interface to manage available funds efficiently.