Imagine a digital bank integrating block chain technology with traditional banking services – that’s what Bankera owners have set out to achieve. The goal is simple – provide banking services to users of digital currency. Instead of supporting only cryptocurrencies as most cryptocurrency supporting exchanges do or fiat currencies as traditional financial institutions – Bankera’s services will support both cryptocurrencies and fiat currencies.
Bankera as the operation arm of SpectroCoin – a web based bitcoin wallet exchange provider will offer three lines of core traditional banking services:
Payment Accounts: Just as you would easily walk into a banking hall to open an account – this service operates in a similar fashion – the only thing is: it would be virtual. But comes complete with all the necessary stuffs you get from opening an account – you get your personal IBAN, debit cards, interbank foreign exchange rates, and payment processing. Also all services will support both cryptocurrencies as well as traditional fiat currencies. With the long-term view of implementing innovative solutions such as GDP-linked currencies or use of equity traded funds as a substitute for money.
Loans and deposits: Bankera will also offer loan services to its business customers who use the payment processing solution, while at the same time paying interest to both savings and current deposits.
Investments: this will consist of investing in low-cost investment products such as equity traded funds, crypto-funds (a portfolio of various cryptocurrencies and crypto tokens) as well as providing roboadvisory solutions for wealth management. Eventually Bankera will offer investment banking services including financing corporate strategies for their business clients.
This is quite innovative but how do they intend on achieving this?
To realize this task the founders of Bankera has broken the project into seven step roadmap:
Stage 1: Development of IT Infrastructure
According to the information available on their website, this stage is already complete. It states that the required IT infrastructure necessary for processing and issuance of personal IBANs or payment cards have already been developed and available as an MVP in the form of SpectroCoin.
The company also claims to have put in place the necessary regulatory arrangements to offer individual international bank account which permits them to handle payments in the Single Euro Payments Area.
Stage 2: Pre- ICO August 28th – September 28th
Distribution of 10 percent of the tokens to determine price of the ICO
Stage 3: E-money Capability September – October
Membership application for major payment networks begins, support for full P2P transfers and mobile wallets.
Stage 4: Initial Coin Offering mid-October
30 percent of tokens to be distributed in order to raise capital for meeting capital reserve ratio as required by banking regulators.
Stage 5: Banking Capability early 2019
At the end of the ICO, the next stage will be to obtain a banking license that will allow them offer loans and deposit services
Stage 6: Investment Solutions late 2019
Launch of services related to low-investment solutions
Stage 7: New Types of Money 2020
The synergy between investment and payment products will offer new types of money.
A Minimal Viable Product Already in Place
The team behind Bankera has shown they mean business with the development, testing and deployment of a working minimal value product. The rapid adoption of their platform by over 300,000 users as their payment processor of choice has positioned them to have a solid base to build from.
The Next Stage: ICO
Bankera is currently issuing its initial coin offering – think of this as the regular IPO and with the positive evidence pointing to this project’s success, a solid team of founders and advisors and a carefully crafted but flexible plan, and an already existing customer base to leverage on. Bankera’s ICO is one you should surely consider.