BANKllect ICO (SPH Token): Sphere Cryptocurrency Bank Coin?
Bankllect is said to be the first peer-to-peer bank network. And its main task to create a unique way for next generation banking ecosystems to operate. Where each of the participants will possible gain access to choose a specialized banking service platform and earn capital on it.
The main difference is seen with the solutions presently provided by crypto banks like Bankera, Polybius, Datarius, Crypterium, Change, etc. And it’s Bankllect that will propose a series of banks-focused services in a way that is completely altered from the way traditional banks operate.
And at the core of the network is a participant. The individual who is a participant is a person or company with initial financial capital or fiat money, coins, and tokens. The platform works on their own technology called a Proof of Participation (PoP). It allows the participants of the company to make money by a degree of the activity performed on a Bankllect Network. The motto of bank is:
“All participants of Bankllect Network will be paid for their spent life time.”
You can learn more about what they offer on the company website by downloading the White Paper PDF or watching a Company Presentation on YouTube.
How Does BANKllect Work?
The system works on a micro loan system or MLS. The loan system is designed primarily for participants of the Bankllect network. And who would like to earn some money first off, through the process of using their own cryptocurrency. Secondly, for those who need more capital for personal reasons.
A venture capital system has already been put in place. First off it is setup to finance projects in the cryptocurrency market exclusively. VCP as the platform is called connects both sides of the project, professionals and venture capitalists who have one single goal – and that is the creation of new products developed for the cryptocurrency space.
A PCD or Collective Deposit is also designed to connect two or more participants of Bankllect network for the purpose of sharing risks between the different participants involved in the deposit smart contract. And the PCD can also be used for the purpose of earning extra capital with the process of collecting unaccounted for cryptocurrency coins.
The PID or program of individual deposits, connects a single participant to another single participant of the platform to expedite the signing of a deposit contract, or smart contract.
A System of Asset Assessment or SAA is a modern IoT-based process for the standard of accurately assessing fiat currencies and assets. Any object for the assessment can be any possession an individual has as a business. The main goal of the SAA is to help standardize the tokenization of assets.
The Multicurrency Exchange System or MES runs to allow exchanges to occur from any cryptocurrency that is presented on the cryptocurrency exchange. And the exchange can also be used to change fiat to cryptocurrency and vice versa.
There are other elements currently in development. And they are in tune with the individual credit program, the collective credit program. And the client insurance program for anyone who is currently using the Bankllect network. And lastly there is a currency exchange protocol in place as well.
About Bank Intellect ICO
The ICO can be seen in full at the company website. And you can also download the whitepaper to learn more as well. The ICO has several phases, each of which offers a smaller bonus than the one before it.
Who Is Behind Bank Intellect?
There is a team of seven professionals who are running the show at Bank Intellect. And each of them is a specialist in their own personal field of expertise like blockchains, banking, physics and IoT, for example.
Bank Intellect In Conclusion
The platform is exceptional for the managing of finances. This includes anything related to transactions, exchanges and trading among other things. And you can learn more about everything Bank Intellect does at the company website, bankllect.com.