Topic: [ANN][ICO] LakeBanker | Free Banking for the World - page 16. (Read 14301 times)

Sure. We expect to invest significantly in legal advice as we plan to stay compliant and work with regulators wherever we operate.

For us, that's worth it---the financial industry needs to change. The are 5 Billion underbanked people in the world, and---for the rest of us---banking is expensive and time consuming. It doesn't have to be like that. And we're going to change it. 

We want to change banks, not governments. We plan to stay fully compliant with local laws and regulations, wherever we operate.

Thanks. If you're not sure about the concept please ask some questions. Part of why we're here is to get useful feedback rom the community.

No. We're a financial technology company, but we're also Blockchain enthusiasts (we are a spinoff from cryptocurrency exchange LakeBTC). Part of what we want to do is make cryptocurrencies and other digital assets much more accessible. But that really is just a small part of a massive project: to make core banking services free for the world.

Although I'm not sure about the concept of this project, but it will be an interesting project, hopefully it can run well and good luck for LakeBanker

Lakebanker is not a block chaining technique?

it's a so exciting thing, and can't wait to know the whole of lakebanker, except to the coming white paper

Our free payment network is not decentralised. So it won't be hard to keep the system running. The cost to us of handling a payment is very close to zero once the infrastructure is there.

For those that want their transactions on-chain, we will provide services there too---backed up by the expertise in security that LakeBTC is known for.

Good point. But see my reply to the poster above you and let me know if it doesn't address your concerns.

Part of our mission is to make bitcoin and other crypto assets more accessible. We are a spinoff of LakeBTC. We inherit their core team, expertise, tech, culture and so on. We are blockchain enthusiasts!

But we also want to change banking and bring free banking to the world, especially to currently under banked populations. A migrant worker wanting to send home a small remittance doesn't care about on-chain transactions. They just want to move money around easily and without heavy fees. (Bank of America international wire is $40!)

Bitcoin was designed in part to allow money to flow freely between individuals without going through a centralised institution. But it many respects it has not achieved that goal: complexity is high, security is a concern for people, price volatility is an issue and transaction fees are rising. Right now it's an important supplement to the existing financial world but it still has a long way to go.

With us, if you want on-chain transactions that's great, we'll make it easy and secure. People who care less about decentralisation can take advantage of our free services. Everybody wins (unless you're a bank).

will you open signature bounty ??
i think that is very good project .

It's an ambitious mission for sure. We will be releasing many more details soon in our white paper.

For now, the basic way we execute this mission is as follows:

Banks suck. They rely on outdated technology (paper, physical cards, atms) and their business model is out of date: they still have brick and mortar high street branches and sometimes hundreds of thousands of employees. That's why they are so expensive.

We use the latest tech (especially mobile and AI) and a crowd banking model to massively reduce our costs. Say you want to make a cash deposit: you click a button on our app---the app transmits the request to local LakeBankers (kind of like calling an uber). A nearby convenience store accepts. You drop off your cash there and you're payed into the system. The cost to us of accepting the deposit is almost zero. We don't need expensive branches. We don't need many employees.

Our reduced costs compared to traditional banks mean we can offer core services for free. Especially user to user and user to merchant payments. Free services like these are incredibly useful. We expect to attract many users. This gives us a large market to which we can offer financial services (loans, p2p lending) etc and gives us access to Big Data. This is how we will make money.

I have get my Lakebtc account back, and deposit some btc to  account balance.

how to join in the Phase 1. token sales? your instructions (https://lakebanker.com/sale) just said make a payment to [email protected]. but it did not any respond after I send a payment to the designated account, that only my balance was deducted accordingly with no BAC token happened.

had I been involved? any tips or records?

With the free banking project in the world hopefully everything can be done quickly, so the money cycle will flow with a little friction, from one person to another, from one currency to another currency and from one country to another with a relative cost Cheap, safe and guaranteed as soon as possible by the legality of a country.

if you need chinese translation  and chinese thread management please Pm me.

nothing can be done overnight, everything always has a beginning. I am looking forward to seeing the specific steps from the team/

for a cross-border business, such a problem need a professional bar of lawyers.

how much do you earned every month? $500? $1000? $5000? or more?

It's great to see Lake Banker project evenutally launched separately.
as the first batch of bankers, I was happy to make profits for help people buy/sell bitcoins, but with the users' growth, eventually I was overwhelmed by the strong requests.
 

yeah, lost of problems have not explained in this thread now, I think this is just a pre-announcement instead of official announcement.

even the phase.1 is also pro-sales, They plan to arrange official sales (phase.2) in October.

so, I will not evaluate whether the lakebanker project is worth investing or not, until the team put all the information available to the public.