Introduction:
In the 21th century where we are currently living in, everything is connected to the internet. We slowly are moving away from paying with tradional paper cash and coins to paying with digitally with mobile wallets. Especially in asian countries like Japan, Korea and China, paying using the mobile has become a common thing. The blockchain technology has enabled us to solve different kind of problems and payments are one of them. As the number of cryptocurrency users are increasing exponentially, many investors are eagerly waiting for an option use cryptocurrencies in the daily usage for example for payments in the supermarket. By the end of 2020 it is expected that more than 200 million users will be using cryptocurrencies. That's more than 10 times as of today. To solve the increasing demand of cryptocurrencies, there needs to be a possibility to easily acquire cryptocurrencies for everyone without having much technical knowledge about the blockchain. The solution here is that banks in the future could offer cryptocurrency services.
The World Bit Bank Project:
The World Bit Bank project is trying to solve this problem. Since 2016 the Vitsolutions LCC has been doing a lot of researches in the blockchain technology to make the World Bit Bank project possible. The World Bit Group was established in 2018 and has already virtual currency wallet service license registered under the European law, which enables highest security for all the real and digital assets investors. World Bit Bank aims to create a group of cryptocurrency banks by acquiring existing banks in different countries. This includes countries like USA, Canada, Brazil, Germany, UK, Switzerland, Turkey, India, Japan, Australia, which then will be offering cryptocurrency loans, use of cryptocurrency in VISA or MasterCard debit cards as well as transfers for the daily usage of payments.
Below you can find the process of the payment using World Bit Bank. This is possible if there are funds on the WBB wallet, which can be used to pay for any goods in any store.
World Bit Bank will not only be a a cryptocurrency fund, but also a leasing and an insurance company. For Android there is already a working app in the Google Playstore. The App for iOS will also soon be released.
Features:
World Bit Bank will offer 8 great features. They are the following:
- Debit Card which allows cryptocurrencies on Visa and Mastercards
- High speed due to instant payments
- Low transaction costs
- Legal and reliable cryptocurrency for doing business and tax payments
- Conducting online currency exchange transactions with cryptocurrencies
- Access everywhere in the world
- High security of storage of digital assets
- Full transparency with history of all transactions
The ICO:
The World Bit Bank project is currently doing their Pre-ICO and after that the ICO to collect funds for making this project possible. Here you can find some information about the Tokensale.
- Presale Softcap: 500.000€
- Presale Hardcap: 25.000.000€ (currently ~15.7 millions already raised)
- ICO Hardcap: 250.000.000€
- 1 WBB (Wibcoin) is valued at 1€ each and costs 0,0018 ETH or 0,000125 BTC
The collected funds will be mainly used the purchase of a bank. Further usage will be development, marketing and salaries. The percentage wise distribution can be seen here:
Wibcoin is used for enabling payments as well as conducting exchange transactions in real time. Furthermore the Wibcoin will be used for every transaction in the WBB ecosystem for every interaction with all the digital assets.
Debit Cards and how to get one:
World Bit Bank will offer Debit Cards for their investors. Depending on the amount of Ethereum contributed during their ICO, different cards with different bonuses will be given.
- The Classic Card will be given to everyone investing 1-3 ETH
- The Gold Card will be given to everyone investing 3-10 ETH
- The Platinum Card will be given to everyone investing 10 or more ETH
- Every other user can get the World Bit Bank Virtual Card for free
Roadmap:
For this year the World Bit Bank project aims to complete their Pre-ICO and ICO to collect funds for their project. For 2019 the acquisitions of nine banks in different countries is planned. There will be for sure a more detailed update about the roadmap soon, once the tokensale has ended. So stay tuned for that.
My Opinion:
The World Bit Bank project is a great project that will not only help more people getting into the crypto world, but also will offer reallife uses of cryptocurrencies for daily payments. The acquisition of banks in 9 countries is not an easy task and for sure requires not only time, but also a high sum of money. That's why the successful ICO is very important for this project. So far the Pre-ICO has been going quite good with already over 1200 participants and over 17 million Euros raised. I'm personally very positive on this project and think that World Bit Bank will change the world and usage of cryptocurrencies. I'm also very excited to see how this project will develop. So stay tuned for further updates.
Further Information:
Want to know more about the World Bit Bank project? Take a look at their official website and their whitepaper for more information. Also subscribe to their official communication channels to stay up to date. Any questions, feel free to comment below.
Website: https://wbb.io/
Whitepaper: https://wbb.io/file/images/137/4/White%20Paper%20-%20World%20Bit%20Bank-EN-7.pdf
Twitter: https://twitter.com/WorldBitBank
Facebook: https://www.facebook.com/WorldBitBank
Telegram: https://t.me/WBBCoin
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3206437.0
My Bitcointalk Profile (Rano): https://bitcointalk.org/index.php?action=profile;u=1609093
My ETH: 0xFc58f16Ab51A635fdb06b4Db14E59ad994884AD7
Nice review. Just looked up the project and it sounds super interesting!
great review, also recently I saw an interview of the Bundesdruckerei, which has a similar vision that crypto will have an impact on how we pay things in the next five years.
Thanks. Nice, very interesting to know. I'm quite excited how things will change. 5 years is long, hopefully crypto will take over.
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Haha thanks though.
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