Topic: [ANN] 💠 FSBT TECH 💠 – Open API For Fintech Developers - page 287. (Read 58214 times)

thanks for the answer
I translated it into Turkish and added it to the announcement
in turkish announcement they ask this question a lot

The bounty program has already started.

You can check it at https://bitcointalksearch.org/topic/bounty-fsbt-tech-open-api-for-fintech-developers-2225653

When does the bounty start?

I meant they are going to offer all possible services in the fiat sector (and as a licensed bank) and all possible services in the cryptocurrency sector (even ICO escrows).

Which ways? What do you mean?

Indeed. All other financial projects are just exchangers and similar companies, not actual banks.

There is no bank dealing with cryptocurrencies, moreover in the ways you plan to.

There are actually no projects like this at the moment. There are several projects related to financial sector, but they are offering usually a particular product or service which is one in the wide range of products and services that will be offered by Forty Seven Bank.
Moreover, we have a unique concept of building the bridge between cryptocurrency world and traditional monetary systems and unite financial operations and management of both - cryptocurrencies and fiat currencies under one roof.
There is no bank that completely understands cryptocurrencies and offers traditional banking products and services for them. Forty Seven Bank will be a pioneer in this field.

Thanks a lot for your reply.

Will it be published prior to Pre-ICO launch ? October 30

a decentralized Bank?
they are a lots of project like this,which special advantage you had?

At the moment we see three possible applications for boimetric technology - biometric POS terminals, smart ATMs and boimetric authentications for financial apps on mobile phones. In every case this technology will be used to simplify the process of authentication for the end user and replace the use of passwords and PIN codes. The user will be able to decide whether he or she allows to use this technology to access his account and even set the limits and restrictions on transactions with this type of authorization. The protection of biometric data begins with scanner hardware that receives biometric data. Forty Seven Bank will not produce such hardware, but we will cooperate with companies which does. We will carefully evaluate the protection of biometrical devices and will work with most trusted and secure vendors and technologies on the market. Biometrical devices usually has some kind of hardware-level protection against data theft and intrusion, in some cases biometrical data is stored in protected internal memory and will be not transmitted to the server in form of biometric data. In such cases our software will securelly authenticate the device and transfer the sensitive user data in form of cryptographically protected tokens. In other cases the biometric data will be transmitted to our servers and then match against samples stored in secure infrastructure of Forty Seven Bank. All information will be transfered in encrypted form over network. We will also develop and use special software for detection of anomalies and intrusion in order to detect fraudulent activity and the use of stolen data. Also we will develop and publish the recommendations for secure POS terminal installation on merchant side - suggest to install surveillance, access control and biometric authentication systems for their employees to protect terminals from installation of malware.

Yes, smart contract will be officailly published and will be in open source.

We do not think that there is high probability of such risk. Taking into account that our team already has experience of licensing financial institutions in FCA, the UK, we believe that we will replicate the experience and get the banking license on time - we know how to do it, what are the requirements and procedures, as well as we do know lots of details that are not clear to others, who do not have this experience.

We will use different types of biometric identification depending on the need of the customer, biometric data we might be using is:   fingerprint, the palm of the hand, face recognition and voice recognition.

If a company follows the procedure of contributing to our ICO project, it will get FSBT tokens via smart contract. It is does not matter for us either we receive contributions from individuals or from institutions.

As we have already stated, we will launch the project either way, as we do have interested institutional and private investors. All the contributors to our project will receive FSBT tokens and benefits stated in our documents. If we do not get enough ETH during ICO, we will get necessary funding partly from our investors, partly from our own resources.

Minimum amount is stated as our estimate of how much funds we need to begin the project and provide the range of products and services described for Milestone 1. However, we believe our ICO procedure will help us to gather much more resources than 18k ETH and we will start with bigger capital and will become more successful.

You are right, we have consulted with professionals in banking field regarding our future products and services, as well as regarding technologies that can be used in Forty Seven Bank and their particular application.

Our customers will be able to open Multi-Asset Account and have access to all their assets via one application. It will be also possible to connect to various web-wallets via API.

Thank you very much for your opinion and support!

  It will be awesome to have a bank related to web wallet because it make them safer, but Will it be used with any web walet or some specific ones?

I really like how professional their communication is .. not only here but also in telegram and each contact point with customers and future Investors .. Keep it up!