MyCryptoBank ICO review / MCB token overview
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📣 MyCryptoBank ICO review / MCB token overview 📣
What is MyCryptoBank project about?So what does it offer? As per usual, we’ve analyzed a ton of data and made the following summary.
MyCryptoBank is an online service allowing any client registered in the electronic bank system to conduct a full range of banking operations with cryptocurrency (payments, use of debit cards, loans, investing and much more). The company renders services to its clients based on blockchain technology, so they can access their accounts and use any products remotely without having to make time-consuming trips to an actual brick-and-mortar bank office.
The whole idea of was made possible through a multifunctional MyCryptoBank platform which represents a hybrid system combining digital and traditional currencies. The use of digital currencies makes operations faster and cheaper, while traditional currencies guarantee general acceptance and validity.
The developers also promise that their decentralized platform can process more than 100,000 transactions per second and perform operations with a speed of 0.01 seconds.
What market is MyCryptoBank about to enter?
Basically these guys are going to stand up to all other traditional financial institutions that have been trying to stifle the crypto industry.
The company is registered in Estonia and has received 2 licenses that permit it to work with cryptocurrencies. By the way, we are aware of at least one similar project also developed by an Estonia-based team – Polybius. However, that team is moving on at a moderate pace, so we believe MyCryptoBank is one of a kind in that it combines a whole range of banking services in one single ecosystem and it will be available in no time.
All about the MCB token
The MyCryptoBank team has been developing a native MCB token that is based on EOS and uses the Delegated Proof of Stake algorithm consensus and Byzantine fault tolerance modification. The total supply of tokens is 795,000,000.
The main role of the token is obtaining a certain status within the ecosystem. As of yet, there are four statuses and each grants a different set of privileges for the token holders, such as lower transaction fees, access to premium features, cash backs and much more. You can see the available statuses on the screen right now.
It is planned that the MCB token is going to be listed on a large number of the most prominent exchanges.
As for the distribution of tokens and funds raised during the ICO, the chart on your screen shows it all. 65% of the total supply is going to be distributed during the ICO, 10% goes to the project team, 15% makes up the reserve fund, 7% for partners & experts and 3% for the bounty campaign.
Now what about MyCryptoBank MVP?
There are a number of products that are claimed to be already designed and ready for use by now.
This leads us to the crypto ATMs. These machines have been carefully designed to be the tool to either withdraw your money or buy cryptocurrencies at an instant. So MCB makes crypto as accessible as fiat currency.
Fancy payment rings – these work like contactless cards integrated into the payment system of the bank and allow conducting payments in a way similar to a bank card. To make a payment, it is enough to bring the ring to the payment terminal and the necessary amount will be deducted all by itself. It is also possible to pay online: each MyCryptoBank payment ring has an assigned number, validity period, and CVV code. The rings are durable and waterproof.
Who is on the MyCryptoBank team?
Yuriy Bolshikhin is an entrepreneur with more than 15 years of experience. He has economic and technical education. His actual professional background is in state-run companies. What did his work entail? We haven’t found any data on that matter.
Vladimir Bronnikov has over 20 years of banking experience. Since 1997, he has been working in the St. Petersburg branch of a major Russian banking provider as deputy director.
Vladimir Kliuev has a degree in Applied Mathematics and Informatics and a Master’s degree in Finance and Banking. His own enterprise is ArticMedia web-studio that has been in operation from 2012 until current time.
Dmitry Chernyak is an IT consultant with more than 15 years of experience in fintech. Responsible for dDesigning and implementation of high reliability servers and IT infrastructure. Also software development, including accounting systems, sites and mobile applications.
ICO start: Sep 10, 2018
ICO goal: $100,000,000