ENTRY is a blockchain-based banking service, which is designed to increase the flow of crypto in the economy. The platform has been designed as a multi-utility platform for the financial sector. The platform aims to make it possible for people to use fiat and crypto in their daily activities without fear over the technology powering it. It has the vision to create a global bank when the world moves away from fiat.
The platform has a framework designed to enhance the utility of all crypto and thus facilitate those that need to transact in fiat. It will come with a suite of products that allow it to have a positive impact on any crypto user.
During the global financial crisis, it became obvious that the current financial system was deeply flawed. It also became obvious that these vulnerabilities could have a major impact on the global market even in the future. Even today, the global economy is struggling with sluggish growth. Transferring funds across international borders are still quite complex. It also consumes a lot of time and is quite costly.
The existing models that run on the banking system are slow and full of intermediaries. Besides that, you have to deal with counterparty risks, extensive paperwork, and a lot of bureaucracy. The business model created by this project has focused on disrupting the existing financial models. These current models are only focused on toll keeping without offering consumers any real value addition. By eliminating the intermediaries, it will help to make the system faster, secure, and more cost-effective for those involved.
More Details About ENTRY
Entry .Money is a crypto and fiat payment gateway for e-shops that can be accessed with ease via web and mobile devices. The platform will offer IBAN to every user and make it possible for them to store blockchain assets in their account. Initially, the platform will only support the EUR fiat currency. The reason for this is that the platform aims to target Europe, which has a huge and untapped market. Later, the developers will expand and incorporate all major fiat currencies in future.
With Entry.Money, users will be able to deposit, withdraw, store, and transfer fiat and cryptocurrencies. Merchants will be able to utilize the platform for simple conversions, thus ensuring the sale of their goods. The merchants will then get the sales price in the fiat they request minus the transaction fees.
Merchants will be able to trade beyond their national boundaries without the problems of currency fluctuation or differentiation. Merchants will be able to trade in their fiat currency of choice while users will be able to make a purchase in digital currencies. This platform will ensure that merchants are paid in EUR. The process of conversion and transfer is then going to give liquidity to the Entry.Exchange.
Entry ICO Details: The ICO is going to start on April 30 and will end on June 30, 2018. Its pre-ICO is set to get started on 10 April 2018.