AI BANK – The Completely Decentralized Global Financial Entity
PRESENTATION
Incumbents have always had their issues with disruptors. But the
truth of the matter is, one must learn to change with the times; it is
either innovate or perish. While it stands true that blockchain
technology stands to wipe out a lion’s share of a bank’s income, banks
should realize that they can leverage the power to blockchain to
introduce new products and offerings that would replace old revenue
streams. The world is turning digital, there are no two ways about it
and like it or not, we are living in a digital matrix.
AI Bank offers its own ecosystem that is not guided by commercial
interests but is designed to provide a complete alternative to global
financial systems. AI Bank, like other blockchain systems, directly
links supply and demand without the need for intermediaries. OVERVIEW OF AI BANK
The AI Bank, a completely decentralized global financial entity, has
announced its innovative plans which, according to the bank, aim to
revolutionize the areas of banking and finance. It’s a completely new
idea that many have called the next step in financial evolution, while
others consider it to be a reflection of current norms and a culmination
of recent technological trends and advancements. However, the general
consensus appears to confirm that the idea of a decentralized bank that
entirely operates with artificial intelligence is highly ambitious.
The idea for the AI Bank has been influenced by one Mohammad Yonus.
Yonus, creator of the Grameen Bank, changed the way banks perceived
loans and established the basis of microfinance. Although his ideas have
helped many people, more evolution is needed to bring banking services
to people that still cannot find their way to finance solutions. The
only to do so, as per the AI Bank and many leading experts, is the
complete decentralization of the banking process, something that allows
the customers to initiate complete control and completely do away with
human involvement. The results are not just efficient and entirely free
of human errors, but they are also very fast. That’s just what the AI
Bank is going for.
In addition, the AI Bank is based upon a completely non-profit
ideology that aims to deliver the chance to avail microfinance
opportunities to anyone around the world. The aim behind the bank’s
services is to make use of the blockchain and offer microloans using the
blockchain’s decentralizing features to bring microloan opportunities
to those that need it, without any human participation whatsoever. The
AI Bank understands that for the world of banking and microfinance to
move forward, a completely uninterrupted and focused service needs to be
introduced that gives control to the customer rather than
organizations. That’s exactly what the blockchain offers, with
artificial intelligence powering the transactions and loan procedures.
The AI Bank is a highly ambitious project that aims to not just
revolutionize and change the financial world, but also bring about
positive change for humanity as well. It’s a non-profit start-up that
aims to empower people who could not normally avail financial
opportunities, with microloan and banking services that are aimed to
help them in their work, their lives, and also improve their living
conditions. The AI Bank hopes to be the change that it feels the world
needs right now not just to change, but also to improve. It’s an
ambitious project that brings its weight with focus towards human needs
and solutions that aim to satisfy them with exemplary service. The Mission Autonomy
It doesn’t matter during which jurisdiction the consumer is found.
All processes are fully automated.
A bank will settle for and issue cash in any currency of the globe and main cryptocurrencies. Providing funds
Since the classification system are going to be supported AI, its use
will be identical to banking conditions. At identical time, the risk of
non-return will be reduced from the risk of 10% of MFIs to the risk of
2% of our product which will work
on artificial intelligence. Speed
Traditional loans square measure issued in 1-2 applications for 2-3 documents.
Recent studies claim that AI will already assess individuals higher
than individuals themselves do. Therefore, the verification of documents
becomes a formality.It is way more necessary to guage what someone is Scalability
The loan market is growing and also the project will certainly be in
demand and knowledge growth. This, in turn, can result in birthing the
muse for growth and development in it as before long as potential. We
are already laying the potential for growth and the possibility of
scaling up a business. Since it’ll be absolutely machine-driven,
there’ll be no extra prices for reconstruction the business model. The Ecosystem
In order to solve many problems with the current microloan market, AI Bank offers its own
ecosystem that is not guided by commercial interests but is designed to provide a complete
alternative to global financial systems. AI Bank, like other blockchain systems, directly links
supply and demand without the need for intermediaries.
The internal system operates in accordance with certain rules, restrictions, and norms. The external ecosystem is supported by such layers as:
Scalability. Income from the financial activities of the Bank will continuously increase its assets
in order to increase the number and value of loans in the future.
Autonomy. Resistance to external forcing through decentralization. Without departments, staff
and any attachments to the material world, the system will not interact with external influence.
With the help of dynamic web landings, filing an application will be possible from any device
and from any country.
Performance. Machines are faster and more accurate than humans. Due to coherent algorithms,
any decision in the AI Bank system is made in real time.
Transparency. On-chain transactions recorded in the public registry will take place in the system.
The data that is not a banking secret will be opened for viewing but saved using cryptography. About The AIB Token
AIB Utility Token
USD 0.05 the price of one AIB token
Emission: 856,750,000 tokens
USD 250,000 private pre-sale of tokens, 5,000,000 tokens
Bonus with a private pre-sale of 35%.
USD 2,000,000 Soft Cap
USD 30,000,000 Hard Cap Token Distribution
Public tokens (private sale, ICO) – 70% – 600,000,000 tokens
Economic reserve – 10% – 85,000,000 tokens
Advisory – 5% – 42,500,000 tokens
Bounty – 5% – 42,500,000 tokens
Partnership – 5% – 42,500,000 tokens
Marketing – 5% – 42,500,000 tokens
Token Sale Details
The crowdsale of the AIB token will be conducted in two stages: Private Sale and ICO.
Everyone is allowed to participate in both stages without any restriction, but there are significant
differences in the details. “Soft Cap” means the minimum amount required for the
implementation of the AI Bank project. “Hard Cap” is the maximum amount of an AIB token
that can be sold. The emission of the AIB token implies that
participants who wish to support the development of AI Bank can do this
by sending fiscal funds or cryptocurrency to the designated requisites.
By doing so, they buy AIB tokens at a price of USD 0.05 for one AIB token, which
are instantaneously sent under a smart contract to their ERC-20
purse. Soft Cap will be closed after raising USD 2,000,000. The bidding
period of a token lasts 90 (ninety) days if the Hard Cap is not reached
earlier. If the campaign for the token sale does not reach Soft Cap,
then all funds will be automatically returned to investors.
After reaching Soft Cap, the Hard Cap stage begins, which has a goal of raising USD
30,000,000. When this figure is reached, the token sale will be closed automatically.
Unused tokens will be deleted after the end of the ICO. Funds Distribution
Disclaimer: This article was published in terms of the bounty
campaign. I am not a project team member or its representative but a
supporter of this incredible project.
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