Topic: [ANN][ICO] LakeBanker | Free Banking for the World - page 9. (Read 14246 times)

everex may be in the middle of a successful ICO. They have a similar P2P style banking model.

I read this article and can't find the something difference from yours, so why do you think should anyone buy BAC if you're not doing anything different from Everex?

The Tokenverse article is very detailed and gives a balanced account of the two projects. However, we feel it misses some major advantages of our business model and our resources when compared with Humaniq. Some of those are listed in a post on the previous page.

Tokenverse publish an in-depth article comparing our project to Humaniq. Check it our here:

http://www.tokenverse.com/blog/humaniq-and-lakebanker-a-comparitive-analysis/

Our CSO wrote an in depth post about this question and compared our token distribution model to other recent ICOs. Check it out here:

https://medium.com/@andrew.mccarthy/ico-distribution-models-team-tokens-a866641e579

LakeBTC receives many requests to add new tokens to our trading platform.

We are looking in to this carefully and we will publish something about our requirements soon.

Trading for our token BAC will be enabled soon after the close of our Token Sale and before November 1st 2017.

thanks for your response.

could I know how to add a new coin on LakeBTC? costs, materials, requirements, etc.

again, i saw in white paper that you allocate 25% of token to your team. that's a lot. why so much?
and where are the bounty tokens from? what percent?

Phase 1 of the token sale is Active now. It ends September 20, 2017, 3pm UTC. In Phase 1 we offer a small number of tokens at a very big discount.

Phase 2. will be held in mid-October.

For full details of the token sale please see our site.


The signature campaign and social media bounty campaign will be available up to the beginning of Phase 2.

Please see our Bounty thread for full details:

https://bitcointalksearch.org/topic/bounty-token-salelakebanker-free-banking-for-the-worldphase-1-active-now-2056136

Most of the transactions in LakeBanker are off chain right?
  If so, it seems nothing to do with cryptocoins or blockchian?

LakeBTC has been very active in bringing blockchain technology to the traditional financial world. During the past 5 years, we have built strong relationships with a number of banks, payment processors, insurance companies and security firms. In developing the LakeBanker system, our potential strategic partners include:

• A major credit card company
• A major PBOC licensed payment processing company
• One of the biggest mobile App design companies in the world (top 20 for iOS globally)
• One of the biggest Wealth Management firms in the world
• One of the largest financial conglomerate  companies in the world, whose business includes commercial banking, investment banking, insurance and financial leasing
• One of the leading credit and rating companies in China
• A major mobile phone manufacturer
• Two regional commercial banks

Our users will be trusting us with both their money and their personal data. We take that trust very seriously and hold ourselves to the highest standards when it comes to data security. LakeBanker is a spinoff from LakeBTC. LakeBTC is perhaps the only major cryptocurrency platform without stolen coins, security scandals or flash crashes. We will leverage our expertise in security as we develop the LakeBanker system. We will continue to employ the following technological security measures:

• We use SSL/TLS encryption for all data transfers to and from users.
• We use TRUE cold storage for cryptocurrencies—never, ever online. Some other platforms claimed to use cold storage but were nonetheless compromised.
• We use multi-signature wallets.
• We use 2-factor authentication with a 48 hour lock period after any change.
• We use SMS confirmations, encrypted back ups and a disaster recovery plan.
• Our internal network is not accessible from the Internet.

The LakeBanker system plans to provide free core banking services to the whole world. How do we achieve this? We do it through our "Crowd-Banking" business model. Here are some details:

The LakeBanker system will coordinate a massive network of individuals, merchants and other institutions who will provide banking services to users. The nodes in our network are called "LakeBankers". A LakeBanker provides services that would ordinarily be undertaken by the high street branch of a traditional bank; for example, they can facilitate deposits/withdrawals from the system and conduct KYC ("Know Your Customer") verifications on other users. Any user can become a LakeBanker; indeed the system encourages users to both consume and supply banking services. The network is accessed through a mobile app from which users can initiate requests for services. The app uses Artificial Intelligence to match these requests to LakeBankers dynamically based on real-time supply and demand conditions. Our technological solution effectively replaces traditional banking infrastructure with a peer-to-peer market, sometimes known as a "matching market". We call this concept "Crowd-Banking".

In terms of executing our mission, this model has four key implications:            

(1) Risk Management: Through our crowd of users we can do more due diligence than any regular bank could do. And, since LakeBankers will tend to be local and know their communities well, we can do it better.

(2) Massively Reduced Overheads: We don’t need high street branches, large corporate offices or many thousands of salaried employees.

(3) Exponential Growth: When we enter a country, one LakeBanker can service say ten users. The system incentivises them to become LakeBankers themselves and service a further hundred users who can then service a further thousand and so on. Our Crowd-Banking model has exponential growth built into it.

(4) Reach into Underbanked Populations: Networks of LakeBankers can be created wherever people have access to smartphones. Smartphone saturation is high in the developed world and growing at a phenomenal rate in emerging markets.

LakeBTC.com will enable BAC trading soon after the close of Phase 2 and before November 1st 2017.

We are offering near immediate liquidity for our Token.

Our Whitepaper is available for download here and on the first page of this post.

We hope you enjoy reading it. If you have any questions, please post them here, or join our telegram or slack channels. We will be happy to answer them

This is an interesting concept, I'll be interested to see the details in a whitepaper.

We have now launched the social media bounty. Here's the thread:

https://bitcointalksearch.org/topic/bounty-token-salelakebanker-free-banking-for-the-worldphase-1-active-now-2056136

The Social Media Bounty is now launched. Here's the thread.

https://bitcointalksearch.org/topic/bounty-token-salelakebanker-free-banking-for-the-worldphase-1-active-now-2056136

The differences between LakeBanker and Humaniq are actually very large. Here are some key ones:

Target Users
Humaniq targets users in developing countries, mostly very poor people. They seem to operate more like a charity and its not clear that they are sustainable as a business. LakeBanker targets the whole world---including rich countries. Expansion into unbanked populations is just one small part of our ambitious business model.

Free Payments
In the LakeBanker system for ordinary users ALL PAYMENTS WILL BE FREE FOREVER. Humaniq say they will offer "near zero cost transactions", but it's not clear what this means.

On Chain/Off Chain
In Humaniq, all transactions seem to be on chain. This is for a service that they hope to reach billions of people. Is this even possible? Does the blockchain has the capacity or the throughput? If the price of ETH goes up further, will that make payments unaffordable?

In LakeBanker, we give users a choice: If you are tech savvy and comfortable with the technology, use onchain. For others (especially un/under banked), use simple, safe and free off chain services. We have impeccable record in the past 4.5 years of safeguarding users money.

Development Stage
LakeBanker has been running successfully in Beta for 1.5 years. Humaniq is just a idea.

Resources
LakeBanker is a spinoff of LakeBTC, a leading crypto platform with mature operational experiences and user base. We have substantial relationships with banking, payment processing and credit & rating agencies. Humaniq is just an idea.

Risk Management
Humaniq plans to offer "Direct Lending to Entrepreneurs". If they're lending directly, who is going to do the credit risk management? What will stop their default rates being sky high? How will they meet other risks, like compliance risks (anti money laundering, for example).

LakeBanker's Crowd-Banking model delivers exceptional risk management. When one user requests credit from the system, other LakeBankers with appropriate training can be hailed by the app and given the option to earn fees by providing the KYC verifications and due diligence checks. The low overheads here mean that LakeBanker can do much more due diligence than any regular bank (or Humaniq). They also do it better: LakeBankers will tend to be local and know their communities well. With our risks so well managed, our risk adjusted returns will be very high.


So. The LakeBanker's business model is very different from Humaniq's. (Our is much better).

it meems that I had seen the similar project before. did you know Humaniq?
if so, what do you think the difference between LakeBanker and Humaniq?

An article on decentralisation published in Forbes today talks about LakeBanker:

https://www.forbes.com/sites/nikolaikuznetsov/2017/08/16/decentralizing-the-world-blockchain-and-the-removal-of-centralized-profit-centers/#56db418d53f4