The financial market is broad and looks complex to the layperson who has interest in this investment sector, and the decentralized marketplace seems to be the key that could unlock the potential of mainstream investments in financial and digital assets in the new era.
Forty Seven Bank wants to disrupt the financial system of the European Union by introducing an intermediate platform like a springboard for FinTech developers to create their API solutions to various financial hurdles under the brand name of Forty Seven Bank. This will give rise to a new wave of innovative ideas that will conquer the frontiers of FinTech development.
The Forty Seven Bank team will develop an API module for developers to use and create products that will compete in the real-world with already established financial institutions and most likely outdo them. The aim is to ensure that there are enough tools and resources available to lower entry barriers into the financial market.
The idea is intriguing; I mean, what could go wrong with a mixture of blockchain, smart contracts, biometrics and machine learning technologies – a formidable union that could bridge the gap between the cryptocurrency ecosystem and the outdated traditional financial systems.
They are optimistic about the significance of their project as are confident that their tokens will have value in the secondary market; they claim that there are currently no direct competitions and that their uniqueness stems from the use of full tech and legal instruments for crypto processing and treatment.
Their crowdsale is currently on and will run till the end of March 2018. They want to raise 36,000 Eth at a base price of 1 token to 0.0047 ETH selling 9,957,446 FSBT. So far, they’ve achieved their Softcap of selling 900,000 FSBT (raising 3,600 Eth).