INTRODUCTION
Azbit provides different services for different stakeholders covering in particular the following group of people and organisations, block chain businesses, private individuals, traders, investors and lastly crypto users. Registration is still to take place to ensure compliance with rules and regulatory bodies of nations like Europe, USA and Asia. The project will cater for five segments which include banking services, multi-currency exchange support system as well as providing a secure identification system.
PROS AND CONS OF THE INDUSTRY
Security is better guaranteed in a highly regulated industry, inducing confidence in potential future stakeholder as the risk is reduced when compared to operating in a lowly regulated industry.
Demand for ICO has melted down as a result of the lish placed on the industry by regulatory bodies. This has also been a characteristic of the crypto currency industry and as a result clients are more particular in making a choice on where to invest.
The laws are still inadequate and very outdated and often times lead to complex legal actions having to be taken.
ICO funds are undergoing investigation as a result of the many fraud incidents revolving around the systems. In worst cases some businesses have been forced to stop operations. Therefore, ICO fundraising skims are no longer favourable.
To counter some of the disadvantages mentioned Azbit promises to promote the following four things despite the legal system having been multifaceted in nature:
- Start a legal business
- Propose transparent plan to the regulators
- Build trustworthy relationships with customers
- Beduce legal risk
- Challenges
- Banking
A major conflict exists between the traditional financial systems particularly the banks and the cryptocurrency industry. The banks are threatened by the latter industry in the sense that there have little understanding of the how the industry operates and the pressure placed on them by government to reduce money sponsoring terrorism has in particular left banks unwilling to cooperate with projects involving crypto currency. This has been shown in the inability to perform crypto currency transaction using bank cards in worst cases accounts have been freeze.
Azbit intends to obtain a bank license in European Union and has currently been successful in getting a paymentinstitution license in Czech Republic.
Some of the major problems experienced in the industry include the need of high quality technical support, listing tokens, fast growth, high quality solutions and security related issues.
To address the issues mentioned above an ATS will be set up to act as a crypto trade platform to facilitate trading of tokens. Another solution is to decentralise and demystify token listing enabling easy use by all users.
As the cryptocurrency industry has been blooming exponentially the restrictions and barriers also increasing. As a result the legit investors has been very confused about their approach of where to invest the money and has been looking things quiet deeply than ever. The authority is putting many barriers and restrictions in order to stop scam and uncontrolled flow of fund but as a result of such action some projects get canceled. Many people previously has been scammed as their desired regulations and promises were not full filled so as a result regulatory system has toughen their rules and regulation some nations even restricted money collecting from ICO and have made hard regulations as a result many project get canceled. Another biggest issue in cryptocurrency market now which causing trouble is the deficit of proper regulation as result many nations cannot being cope with regulations and cannot conduct the project within their country.
SOLUTION
Azbit’s main objective is first and foremost to authorize themselves beneath European jurisdiction with the on going regulation intact for accessing in traditional market. They also made numbers of diversions which will be authorized without being dependent on something in different jurisdictions for providing service to user if require. Azbit’s aim to be among the initials to conduct projects under the authorized and established law.
WHAT MAKES AZBIT UNIQUE ?
Azbit generates conventional financial support regarding crypto projects and private users. They offer classic fiat banking and financial benefit for trading and investors and also the brokerage service for currency market. For merchandisers and investors they are providing single loop for accessing to investment tools, business plagiarism, social trading. For all the users they are providing online access and security tokens and service tokens. They also aim to compile with all the necessary sovereignty in Europe, Asia and in the Unites states.
The facility that Azbits will provide is banking assistance, assistance in change of various currencies and unlimited security tokens, A sector for investing without any hesitation and confusion of fraudster and last but not least Azbit.ID secure Identification system which aim to provide fast and secure access to all the users and traders from around the globe and it will minimize the risk of money laundering and of project being canceled.
AZBIT TOKENS
For their Projects the imitate the model of ICO because of their customers who should receive their part of profit initially and thus more people will be attracted and involve in investments and as a result bigger thing will be achieved. So for as they follow ICO so as a part of it Azbit tokens or AZ tokens are generated. This token can be used widely in many places and very much suitable to use. The tokens are usable for bank transactions, in the market for for goods bought, exchange fees at discounted rate and many more. They are also providing discounts for exchange fees 75,50,25 and 10 percent in first to fourth year respectively and from 2022 may the rate will be constant to five percent. They have also established a roadmap of five years from 2016 to 2021
TEAM
The team consist of long experience and personal with loads of quality. Their biggest attraction in team has been Roger Ver Founder and CEO of ‘Bitcoin.com’ who is also very experienced with formerly he was CEO of Memory Dealers from 1999 to 2012 and from 2012 onwards working with Bitcoins, he has been working as adviser of the team. The other advisers consist of Mate Tokay COO of Bitcoin.com , Giovanni Lesna Maranetto CCO Blocktrade.com and many more.
Max Zmitrovich is the co-founder and Chief marketing Officer of Azbit, who have worked with many top companies at past like Thermowood Ltd. And many more from 2002 to 2014. There are also other experience and skilled people in team who have already made lot of fame and name in their specific field according to Whitepaper provided of Azbit.
ADVISER
Roger Ver is the founder and CEO of bit coin.com and is well known for the effort he puts into promoting the bitcoin.
Mat Tokay is second in the hierarchy holding the position of COO he is also a co-founder of the bit coin news.
Giovanni Lesna is the CCO block chain strategist an entrepreneur and a speaker.
CONCLUSION
Azbit is filled with a team of experts and experience, an legit business plan to operate business in legal way and to prioritized safety for its customers which is essential to operate a business and a project and all this are promised to be deliver by Azbit. So with their goals or aim or Roadmap there is no doubt that it will successful platform. So I believe they are in the game in the market with the perfect plan.
For more information:
• Website: https://azbit.com/
• Bitcointalk Ann Thread : https://bitcointalk.org/index.php?topic=5025592.msg45479926#msg45479926
• Whitepaper: https://cdn.azbit.com/docs/en/whitepaper.pdf
• Telegram: https://t.me/azbit_com
• Twitter: https://twitter.com/azbit_news
• Facebook: https://www.facebook.com/azbit.news
Author:
- Bitcointalk username: Buntel168
- Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1129257;sa=summary