Quote from: FortySeven on February 20, 2018, 10:21:30 AM

Quote from: 12jeffy12 on February 20, 2018, 07:02:47 AM

I see you offer businesses the possibility of launching applications in your platform. What requirements will businesses need to meet in order to launch their applications?

We are planning to develop Forty Seven Bank App Platform that will become heaven for fintech developers, as they will be able to create fintech applications and use umbrella services of the bank (KYC, AML, our customer base, etc.). It means that developers with small or medium amount of capital will be able to create White Label business powered by infrastructure of Forty Seven Bank. A good analogy is Apple and App Store that is a heaven for mobile developers. In our case, in order for a developer to do this, he will need FSBT tokens.
Moreover, we are going to offer businesses the opportunity to improve the effectiveness of financial and operational activities via smart contracts. Again, to do this, they will need FSBT.
These two things are going to create real demand for FSBT on secondary market.
Apart from that, token holders will be top priority clients of the bank and according to loyalty program will receive portion of Forty Seven Bank net profit every year in a form of FSBL loyalty tokens which can be later exchanged to wide range of various products and services (travelling, electronic, clothing, gift cards, etc.). Imagine a loyalty program in a retail store where you have a card and every time you make a purchase, you get some points which can be later exchanged for something. FSBL/FSBT token yield will be quite small in the beginning, as it is connected to performance of the bank, but under the conditions and calculations for our hardcap of 10M EUR, in 2023 token yield will be 167% - in other words - for each ETH contributed during ICO in 2023 you will get bonusin FSBL tokens equal to 1.67 ETH. Token yield will grow every year and our performance will inflate the price of the token substantially. I offer you to read more about this in our document called Token Holders Benefits: https://drive.google.com/file/d/0BwDjfDDrGhcsLTJOYzd1ZkZ0WU0/view

This would truly be an heaven from fintech developers. However I wonder how will all of this work fro a legal perspective. Won't there be issues for you for provide a third party KYC services for example? If there is a problem during the KYC process for some company that use your service, won't you be exposed to a potential lawsuit?