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The world’s first international cryptocurrency bank under the World Bit Bank (WBB) brand has been developing for more than two years. The implementation of this project in the existing financial world will enable each person to become an active participant in the new financial world which is decentralized, mobile and protected by blockchain technology.
The reason the team has started this project is that nowadays it is impossible to develop money transfer system without digital technology and cryptocurrency, as well as without digital identification, which is a part of this process. This is particularly the main point why cryptocurrencies will undoubtedly play a crucial role in the new financial world.
This project involves the development of new cryptocurrency-financial technologies and their integration into the existing financial and banking system. Furthermore, the implementation of this project will facilitate quick and cheap monetary transactions in real time in the World Bit Bank ecosystem developed by its team and based on blockchain technology. The World Bit Bank project launches the Wibcoin (WBB) token as a public cryptocurrency for everyday digital services such as payments, currency exchange, value maintenance. The Wibcoin token is considered to be a fully legal cryptocurrency.
Many conditions have to be met before establishing any bank. One of the primary ones is obtaining licenses to handle banking and financial transactions as well as the development and implementation of technologies which enable to solve tasks set by the project.
To develop this project WBB has already undertaken the steps as follows:
World Bit Bank has obtained two licenses on providing a virtual currency wallet service and exchanging a virtual currency against a fiat currency.
Another equally important step to be undertaken is PRE-ICO which is meant to raise:
SOFT CAP = € 500 thousand equivalent to 667.61 ETH (at an exchange rate of € 748.941ETH, as of 16.02.2018).
This will enable to provide marketing, technical development of the World Bit Bank project; development of the cryptocurrency wallet WBB Wallet; development of the cryptocurrency exchange WBB Exchange;
HARD CAP = € 25 million equivalent to 33 380.51 ETH (at an exchange of € 748.941ETH, as of 16.02.2018).
This will include marketing, acquisition of one bank, development of the WBB Mobile Banking software; establishment of the WBB Exchange; establishment of the cryptocurrency fund WBB – Found; establishment of the WBB Depositary (storage of digital assets); creation and sale of card product packages (VirtualElectron, Classic, Gold, Platinum) in cryptocurrency, wage fund.
All these will build a solid foundation for ICO procedure that is the next stage of developing and implementation of WBB project.