Every third person in the world practicing digital activity is a constant user of FinTech-services now. So, FinTech as the future of finances does not look like any speculative scenario any more. Recent data demonstrates double-digit growth of technology adoption in the last 18 months. Countries and industries leading in 2015 only increase its share. The sphere of money transfer and payments is most actively developed. According to FinTech Adoption Index 2017 study, out of 22 000 people interviewed in 20 countries 50% use services for making payments and transfers and 65% are going to do it in the future. The globalization of our planet leads to globalization of relations among its whole population. Today, the demand for digital money is very high. «Internet digital currency» is safe, based on the internet, accessible currency, assisting all people without bank accounts in getting access to funds and also allows making fast and cheap transfers of funds without any geographic limitations. Smartphone popularity in developed countries and speed of its expansion in developing countries permit such companies as MyCryptoBank to offer services of full platform of banking. We can use it having only a smartphone and debit card. The popularity of digital banking in the world does not slow down. Comfort, speed and safety — are not only additional advantages for users, they are standard requirements in modern relations “client-bank”. One of the directions determining the future of bank business, is banking based on blockchain technologies. This technology is much faster, more efficient and less fallible, than traditional automatic clearing house (ACH). Blockchain can save time and money for banks and make payments practically momentary for users. However, the decentralized nature of blockchain significantly troubles the performance of any fraudulent and criminal operations. Smart-contracts are one of the most interesting elements of blockchain banking. These Smart-contracts allow users changing money, shares and other assets in safe and non-conflict way. Like a traditional contract, smart-contract defines rules of agreement and penalties for its performance. However, the most important thing is that this smart-contract automatically fulfills the compliance with obligations. For example, we already have the following solutions:
MyCryptoBank — is an online bank allowing any client registered in the electronic bank system to make a full range of bank operations, additional operations with cryptocurrency (payment processing, debit cards, credits and cheap investment products, use of cryptoassets as credit security and many others) based on Blockchain technology without visit of department. So, MyCryptoBank provides services of client’s remote access to accounts, products and bank services in order to make banking operations. MyCryptoBank offers its clients a multifunctional platform of banking service, which represents a hybrid system combining digital and traditional currencies. The use of digital currencies makes operations faster and cheaper, while traditional currencies guarantee practically all-round acceptance and validity. One account combination allows clients simultaneously using advantages of both types of currencies.
ViPlat company foundation.
Purchase of Forex trade terminal.
5000 payment terminals installed. Contract with liquidity provider signed for direct access to interbank market.
Commissioning of own payment system Development of software – informational complex for payment processing, with the capacity of 20 thousand payment processing per minute.
MCB project concept developed.
1 BIT OU Company registered.
Start of the trader personal account development. Document submitted for license for turnover and storage of cryptocyrrencies and cyber values.
License for turnover and storage of cryptocurrencies and cyber values granted: Provider of services for cyber values exchange to monetary (fiduciary) assets; Provider of services for cyber values wallet. Completed development and launch of own crypto-exchange 1bit.online.
Arrangement of ICO Presale.
MVP MyCryptoBank Wallet (mobile crypto bank). Implementation of crypto-exchange MyCryptoBank service.
Start of MCB trading in exchanges.
Obtain payment license. EMI license obtained (license for e-money emission). Merchant billing system implemented.
Implementation of crypto-terminals with functions of fiduciary money intake and exchange of crypto currencies. MCB payment rings production. Start of MCB bank cards issue with the partner-banks. Implementation of crypto-terminals with functions of fiduciary money intake and exchange of crypto currencies. Implementation of payment multi cards with optional use as cold crypto currency wallet.
Company partnership in SWIFT. Implementation of EPC Rulebook for financial operations in Euro zone. Implementation of technology for users identification by biometrics data. Broker license obtained. Launch of currency, indexes and futures trading in Forex market.
International banking license of B type obtained in Cayman islands. Implementation of MCB crypto-ATM for withdrawal and depositing of fiduciary assets. Launch of crypto-currency acquiring service.
Launch of Р2Р-loan system in MCB mobile bank. Receipt of additional license for banking operations with crypto currencies. Implementation of MCB users crediting in crypto currencies. Expansion of crypto АТМ network. Implementation of consultancy and legal service rendering, including taxation. Start of bank deposits service rendering.