Datarius is aiming to be the world’s first social P2P cryptobank. Find out how it works today in our review.
What Is Datarius?
Datarius, found online at Datarius.io, is a cryptocurrency bank based on a decentralized, partially closed system. It’s a P2P bank, which means the system allows users to decide for themselves whether to use various banking services and applications. This allows users to enjoy very low transaction costs.
Datarius also provides a way for borrowers and lenders to connect with one another. Other services include financial managers, analysts, insurance companies, funds, and trading terminals.
The overall goal of Datarius is to provide people from all over the world with free and equal access to the maximum number of financial products. Unlike traditional banks, which may exclude people due to high prices or ID requirements, Datarius aims to provide a bank for everyone.
The ICO for DTRC tokens begins in mid-February, although a pre-sale is taking place throughout December 2017.
How Does Datarius Work?
Basically, Datarius wants to provide banking services to anybody who holds cryptocurrency.
Customers from around the world can deposit cryptocurrency into their Datarius accounts, then access a variety of banking services. You can send and receive money at minimal fees, for example. You can engage in P2P lending and borrowing activities. You can talk to investment advisors or access credit for your small or medium-sized business. Datarius wants to provide all of the services of a traditional bank – but catered to the crypto community and at a much cheaper price.
Overall, Datarius claims customers can expect to pay 30% lower fees than traditional banks.
One of the unique parts of Datarius will be the credit scoring system. This credit scoring system will judge a user’s worthiness as a lender. The system depends on data from outside sources. Datarius’s whitepaper mentions that they use “already available data of partner companies”, although it’s not totally clear where that data will come from.
Finally, Datarius has integrated a “Trust Limits” system into the credit segment, similar to the option in Webmoney.
Datarius Features And Benefits
Datarius outlines all of the following benefits on its website:
- The most complete set of financial tools, including currency transactions (automatic exchange, internal exchange, and TOP exchange gateways), direct lending, investment programs, credit for SMEs, demand deposits, intrasystem card products, and more
- A new credit scoring system that uses a unique algorithm “based on already existing data received from partner companies”
- Internal user accounts are duplicated by real physical accounts
- Enhanced integration of links between cryptocurrency and fiat, including the integration of instant transfer systems
- Unique verification methods combined with already existing blockchain projects
- A trust limit system with the opportunity to set a limit for a particular user, group, or all users according to pre-defined criteria
How Does The Datarius Token (DTRC) Work?
Datarius has its own token called DTRC. It’s the only tool for participating in the Datarius ecosystem.
As a DTRC token holder, you’re entitled to receive 65% of the fees and charges collected by the Datarius cryptobank. This money will be distributed annually starting from 2019, proportionally to the number of token holders.
There’s a total supply of 200,000,000 DTRC tokens, each of which has a fixed value of $1 USD.
The DTRC Token Sale
The DTRC token sale began with a closed round and a pre-sale in December 2017, lasting from December 9 to December 31, 2017.
The official token sale is scheduled to begin in mid-February 2018. There’s a hard cap of $67 million USD for the ICO.
Of the total supply of 200 million tokens, 73% are going to the crowdsale, while the remaining amounts are going to a reserve fund (12%), project team (8%), and direct bonus (7%). The direct bonus fund includes advisors, supporters, and bounties.
Who’s Behind Datarius?
Datarius is led by Aleksey Vuyko (CEO), Ruslan Vasyutin (CMO), and Larisa Sokolovskaya (CFO). The team is formed under the name iCrypto S.A., a fintech company.
The company was founded in October 2017. It’s registered in Costa Rica, although most of the team is from Ukraine. Vuyko’s previous experience includes a position as Director of Debt Management at a law firm, and two positions as Collection Directors at Kiev-based banks (Delta Bank and VAB Bank). He has two master’s degrees, including one from Ukraine’s International Finance University and another from the National Ukrainian Technical University.
Datarius aims to provide banking services to the cryptocurrency industry. It wants to replicate the services of a traditional bank, but at a significantly lower price. The token pre-sale for DTRC tokens is underway throughout December 2017, with a full ICO scheduled for February 2018. To learn more about Datarius, visit online today at Datarius.io.