I've already wondered what I do when I really earn a lot of money with cryptocurrencies. 47BK could help me with the decision: I just set up my own bank :-) the possibility to build my bank based on their platform is really fascinating.
And that is not the only possibility that offers itself here, but I have to read a lot of information now. how could 47BK stay under my radar for so long?
And that is not the only possibility that offers itself here, but I have to read a lot of information now. how could 47BK stay under my radar for so long?
I really like the idea that I have my own Bank
Account Management, Deposit and Loans, Investments and Brokerage and Others in one app sounds good.
Having your own bank is awesome xD. But really important question though what will happen when the funds are stolen ? Will the devs give the money back to the investors ? This is really important to know.
wich funds to you mean, the funds that deposit my potential customers in my bank opened by me? think for that I would be responsible
or do you mean the deposits at the ico? I believe ICO investments will be replaced by 47BK should they be stolen. it's all about their reputation
I don't think he talks about the ICO money (which they probably have an insurance in case it gets stolen). The question needs to be more specific though as I'm not quite sure I understand what he means. Which funds are stolen exactly? Once people set their own networks on the blockchain, 47BK won't have any control on their tokens or funds, that's the whole point of decentralized network. Please be more specific so we can try to answer the question.
I do not think that is an issue for multiple reasons; their implementation of OAuth 2 protocol to authorize bank access to account which also means that you can revoke access anytime. There are many details to this point and I think it is one of the strong suits of seventy four bank so inherently you are adopting european PSD2 which enables bank users to use third-party providers to manage their finances so it has to conform to a set of standards especially security features.
Forty Seven also allows biometric SDK for biometric authentication. Oh ya let us not forget the Access control on the API level; They will adopting a strict policy to allow access and it is a must. I think the whole process is properly thought through and should not be a worry there.
Security is always main concern for financial houses without implementing proper/strong access control there is no guarantee of security. Its good to see 47BK is giving importance to it.
