Just a quick question (didn't read the whole whitepaper & thread, so sorry if already answered):
1) where do you plan to acquire banking license (UK)?
2) how do you plan to solve AML difficulties that come with the crypto world anonymity - traditional banks must have very complicated systems to control money flow, how do you plan to do this with crypto?
Because in order to become official bank we will have to get the license from Financial Conduct Authority (FCA) in the United Kingdom.
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.).
Yes, you're right. There are challenges, but we have already faced similar challenges in the past and were successful in dealing with them, so, we consider them as challenges, but not as difficulties.
Fantastic update and it's good to see some the official team active on this thread and answer any uncertainies the community have!!
This is why FortySeven will be a success and it's interesting regarding the FCA licence... Is there any ETA on that ?