INTRODUCTION
Cryptocurrency emerged as an alternative and faster payment solution, and later evolved some way into investment instrument with attractive promises of irresistible gains. 2017 was a massive year that saw a great surge in the number of cryptocurrency projects, especially initial coin offerings (ICOs), with the global market cap reaching 750 million USD. However, the adrenaline rush has greatly subsided and the frenzy party is over. Some ICOs ended up as scams, running away with investors’ funds, many projects also failed after managing to raise funds and list in exchanges, while some have dropped far below their ICO prices, living the investors to count their losses. The problem is that many of these projects were just opportunists that saw ICO as a way of raising easy money. They barely have an understanding of how cryptotechnology and digital currency works. Because of increasingly complicated and tighter regulatory concerns, many projects issue utility tokens, which more than oft, end up useless and worthless for the investors. Today, utility tokens have saturated the market and investors are no longer interested in a token that offers no equity in a company.
Azbit understands the current market condition and its dynamics, and is braced to solve the problems by introducing key innovations that bridge the gap between traditional financing and crypto, and more than meet the needs of traders and investors. It aims to provide a seamless channel for entry and exit of all categories of users, including established crypto projects, into traditional stock and currency markets.
THE IDEA
The primary idea is to provide traditional financial and investment services for all crypto projects and individuals in a single platform. This will help eliminate the barrier and enable fluidity between traditional financial world and cryptocurrency world.
THE PRODUCTS
Azbit has designed a suite of products to achieve its goals, these include banking service and payment processing, multi-currency exchange platform, investment platform, and Azbit.ID secure identification system.
Banking and Payment Processing Services: Azbit plans to open traditional banking services for individuals and established cryptocurrency projects under the European legislation and jurisdiction. This will mostly help to assuage the pains and rejection currently faced by crypto projects from banks and payment processors. Clients will have access to various account types as well as traditional securities, futures and forex markets. One of the key elements of Azbit’s infrastructure that will be deployed for the banking services is blockchain, which will be used to record quotes, thus eliminating the conflict of interest that may arise between brokers and traders. In pursuit and actualization of this, Azbit has hitherto obtained a payment institution license in the Czech Republic, while on course to secure a European banking license.
Azbit multi-currency exchange: Azbit is developing a cryptocurrency exchange built on the foundations of topnotch quality, strong security, user-friendliness, robustness, customer support, and round-the-clock availability. Prior to the full launch of the regulated exchange platform which supports crypto-fiat pair instruments, Azbit will host a crypto-crypto only exchange available to all traders.
Azbit Investment Platform: Cryptocurrency is regarded as a high risk investment, and truthfully many novice traders and investors have got their hands burned due to their seeming lack of understanding of the underlying blockchain technology and the dynamics of the crypto market. Even good traders also face challenges caused by paucity of investment funds. Azbit investment platform addresses the needs of everyone; those with the funds but with no trading expertise and tools, and traders with expertise but limited investment funds.
Azbit’s key solutions embedded in the investment platform are CopyTrade and ShareTrade. Successful traders will be able to raise additional funds in by providing investors with access to their trading records and strategies while novice traders and investors can copy the transactions of reputable and successful traders on the platform to grow their capital. It’s a win-win for all.
Azbit.ID Secure Identification System: It is no more news that regulations and strict legislations are underway for crypto space, even though there are still non-clarities on the definition and classifications of cryptocurrencies by the authorities. In order to meet regulatory demands, crypto projects require investors to pass KYC. The cost of AML/KYC can be substantial but is necessary. The Azbit.ID system will provide a single portal for secure, seamless, and efficient KYC/AML of users as well as other blockchain projects which desire to reduce costs of identity verification of their users and investors. The system will be available for mobile devices using Android and iOS operating systems.
THE TEAM
One of the key success elements of successful projects is the team. The Azbit team boasts of formidable and successful team members with decades of combined years of experience in business, software development, investment, and project management. The core team is headed by Max Zmitrovich, the CMO and co-founder of Azbit. The Advisory Board of the project is loaded with heavyweights in the blockchain and cryptocurrency space, with several prominent figures who do not need introduction (“who is who” in blockchain), such as Roger Ver, Mate Tokay, Giovanni Maranetto, among others. It is clearly evident that Azbit is so loaded and gallantly poised to succeed.
THE TOKEN – AZ TOKEN
AZ tokens, rather than mere utility tokens, are tokenized shares backed by real shares in the parent company – Azbit AG registered in Switzerland. The implication of this is that investors and holders of AZ tokens are shareholders, and are entitled to 75% of the project’s financial gains in the future. This presents an attractive opportunity for investors to get their money working for them and be part of a successful project. It is an ERC-20 token with a total supply of 401,408,000,000 out of which only 60% will be offered during ICO. For more information on the token sales click here
AZ token will be used as a payment token across all the products and services offered on the Azbit integrated platform, including payment of bank charges. It is clear that there will be such a great deal of demand and liquidity for the token.
FINAL THOUGHT
Azbit project is more than idea and promises; it has shown that it has all it takes to be successful. It has got some of the regulatory licenses it requires to operate and a global acceptance. The project is built on key innovations never seen before in the crypto space such as the investment platform. I am convinced Azbit has got all it takes to usher crypto into the future where no one is left behind.
For more information, visit these official links:
WEBSITE: https://www.azbit.com/
TELEGRAM: https://t.me/azbit_com
TWITTER: https://www.twitter.com/@azbit_news