Forty Seven Bank, Bank a Based on Three Principles: Relevance, Convenience, and Security

What is Forty Seven Bank ?

Forty Seven is a unique project built to create a modern universal bank both for users of cryptocurrencies and adherents of the traditional monetary system; a bank that will be acknowledged by international financial organisations; a bank that will correspond to all the requirements of regulators.

A team of professionals from the worlds of banking, finance, and IT with expertise and experience in the creation and licensing of payment systems, and building of electronic financial institutions will work to realise the goals of the project.

Our bank will become the biggest structure that corresponds to all the requirements of regulators and the EU Payment Services Directive 2 (PSD2). We will comply with Know Your Customer (KYC) and Anti-Money Laundering (AML) policies in order to guard against agents of the “grey” market.

Forty Seven is based on three principles: relevance, convenience, and security. Our specialists use up-to-date technological developments such as blockchain, biometrics, smart contracts, machine learning and many others.

Mission

The mission of Forty Seven Bank and management team is to provide safe, innovative and user-friendly financial services and products to our customers – individuals, businesses, developers, traders, financial and governmental institutions.

Forty Seven Bank is a bridge capable of connecting two financial worlds and establishing efficient communication between them, a communication that will open up possibilities to level up the whole modern financial system.

Feature and Technologies

Blockchain
Biometrics
Service-oriented architecture
Machine learning
Open API
Smart contracts
Adaptive security architecture
Conversational systems
Cloud computing

Based on the possibilities of the banking and cryptocurrency industries, we will take the best of the two spheres using innovative and proven technologies in the fields of finance, analytics, and data security.

Forty Seven Bank will provide open, flexible and well-documented API covering the majority of banking services. We will launch our own financial application platform that uses our API. By attracting clients and external developers, we plan to turn it into an efficient ecosystem with constantly growing value.

Application of smart contracts to automate financial processes, thereby enabling us to make deals and give credits with no risk of fraud. The implementation of machine learning technology will allow the creation of a personal manager to foresee all wishes of the client. A virtual interlocutor will assist in the reallocation of cash flows and will provide timely current financial information.

Biometric technologies and blockchain will enable users to open an account distantly and access it via smartphone and ATM without using a card. In combination with cryptographic encryption, these developments will provide increased security of personal and payment data.

Emission of Tokens

What is a Forty Seven Token: It’s a token that represents a part in Forty Seven Bank's infrastructure and grants the wielder a priority place in the bank’s loyalty program. Holders of FSBT tokens have the right to receive yearly bonuses in the form of FSBL – Forty Seven Bank loyalty tokens. Besides that, FSBT tokens are a crucial economic part of Forty Seven Bank’s ecosystem – they will be needed in order to access the full range of products and services. After the crowdfunding campaign is finished, FSBT tokens will be available for trade at various cryptocurrency exchanges.

What is a token used for: 20% of the bank’s annual net profit will be invested into the loyalty program. Using smart contracts, each FSBT token holder will be able to receive their FSBL tokens based on the amount owned and afterward, exchange the FSBT tokens for different goods offered by the loyalty program (electronics, household items, airplane tickets, banking services, insurances, etc.). All FSBT token holders will receive the right to participate in Forty Seven Bank’s yearly crypto community development program and decide which projects will be supported by the bank and its shareholders.

Abbreviation : FSBT.

Control over emission: is provided by the system of interconnected smart contracts.

Rate: Fixed, value of one token – 0.0047 ETH.

Maximum amount of tokens to be generated: 11 063 829 FSBT (incl. bonus tokens, tokens for bounty and founders).

Minimum budget to start the project: 3 600 ETH (1M EUR).

Hardcap: 36 000 ETH (10M EUR).

Accepted cryptocurrencies on ICO: ETH, BTC.

ICO round 1: November 16 – December 16, 2017.

ICO round 2: December 17 – February 28, 2018.

ICO round 3: March 1 – March 31, 2018.

Token Distribution