It is evident that barely a day goes by without noticing the potential of blockchain technology to transform substantial industries within our economy, and the banking sector is not immune. By combining the capabilities of shared databases and cryptography, blockchain technology could facilitate multiple parties and simultaneous access to a digital ledger.
Nomopoly provides a borderline concept with their technology looking to underpin cryptocurrency and offer a new banking platform. Here's more on how Nomopoly looks to transform the different areas of banking by blockchain.
What Is NOMOPOLY?
Nomopoly is a next-generation banking platform on the blockchain that looks to use e-wallet and cryptocurrency as an advanced system for banking services. With banking services and operations still working with the outdated system, Nomopoly hopes to employ blockchain technology to provide for decentralized and seamless banking without the challenges of the existing ecosystem.
That is in line with Nomopoly's goal to improve our financial services by improvising the innovation that comes with blockchain-based technologies
Nomopoly Mobile Crypto Wallet Banking App Products
- NOMOPOLY Card- with the NOMO Debit Card, users get to earn and spend their NOMO tokens through a simple swipe. Additionally, the crypto card allows for the exchange and lending of tokens between users
- Nomopoly wallet- users get to store, hold or pay through the Nomopoly wallet with additional purchase options for the financial services in use.
- NOMO token- as native currency for Nomopoly, the NOMO token provides for the exchange, trade and earning opportunities between cryptocurrencies and fiat currency
Nomopoly aims to untangle the traditional nature of the banking industry and ultimately this could have the following benefits:
- Cashback options for every purchase users make using the NOMO token. The bonus mechanism offers 2% for each purchase transaction online.
- Crypto-based loans that allow for users to lend and receive credit loans based on cryptocurrency
- Convenience regarding use since the Nomo Card and Nomo wallet app provides on the move trading and transacting
- The P2P structure with Nomopoly facilitates the exchange, trade, and loaning of tokens without the need for a centralized financial authority
NOMO Token ICO Details
- Start- May 13th, 2018 till June 2018
- Price rate- 1 NOMO= $0.0058
- Hard cap- 26,000,000
- Type: Utility-token
- Token Standard: ERC-20
- Token price in USD: 1 Token = 0.005800 USD
- Accepted Currencies: ETH
- Bonus Program: First day 24h: +15%
- Second day 25h-48h +10%
- Third Day 49h-72h +5%
- 50%- Public Sale
- 20%- Team and Advisors
- 10%- Reserve
- 7%- Rewards
- 5% -Partnerships
- 5%- Bounty
- 3%- Marketing
- 40%- Research and Development
- 10%- Legal and Partnerships
- 30%- Marketing
- 20%- Network Liquidity
Nomopoly prides itself as a regulatory and strict adherer to operational standard for blockchain banking. Arguably with their concept, Nomopoly is looking to offer a less risky way of handling your finances through the blockchain. However, it remains that their project is pretty shallow, with the concept lacking the solid background of banking ICO. Additionally, the team behind Nomopoly remain anonymous which only adds to the overall concern.
In conclusion, this means Nomopoly is not a project with a feasible or viable outcome, and it may turn out as a scam project. The best option is to wait out for Nomopoly to put their platform into reality.