A Few Days Before Pre- ICO Start of the World’s First Legal Cryptocurrency Bank

Several days are left before the first PRE- ICO is to be held. Now we can watch and analyze the particular steps WBB-group team has already undertaken.

While establishing a bank everyone must meet a good deal of terms and conditions. One of the primary challenges is obtaining licenses to handle banking and financial transactions. And of course, in the era of information technology and the Internet, this includes the development and implementation of technologies which enable to solve tasks set by the project.

Obtaining licenses in the banking sector is a complicated way for bank operators focused primarily on guarantees that all actual and digital assets of bank customers and investors will be in the highest degree of security.

The two licenses have been issued by the Government of Estonia as World Bit Bank is registered in the European Union. The first one  – Providing a virtual currency wallet service – entitles the World Bit Bank project to legally issue its Wibcoin (WBB) token and exchange it for any other cryptocurrency (in this case, Ethereum).

The license is publicly available on the official website of the Estonian Ministry of Justice and Communication.

The second one – Providing services of exchanging a virtual currency against a fiat currency – entitles the World Bank Bank crypto bank project to exchange any cryptocurrency for any cryptocurrency in any exchange and any currency (for example, dollars, euros, francs, etc).

The World Bit Bank project is a team of professionals in sectors that are requisite for the implementation of the project: experts in cryptocurrency, banking, blockchain technology, transaction processing, online marketing, and economics. Among them are advisers –  Roman Oliynykov, a researcher at IOHK(expertise at decentralized consensus; scaling decentralized methods for self-sustainable development of cryptocurrency), Dr.Habil (Dr.Sc.), professor of Information Systems and Technologies Security Department at V.N. Karazin Kharkiv University and Sebastian Forbes, a financial expert of WBB group and a CFO at Octa FX, a FD at Scrinium.

Another equally important step to be undertaken is PRE-ICO which is meant to raise:

  • SOFT CAP = € 500 thousand equivalent to 667.61 ETH (at an exchange rate of € 748.94\1ETH, as of 16.02.2018)
    This will enable to provide marketing, technical development of the World Bit Bank project; development of the cryptocurrency wallet WBB Wallet; development of the cryptocurrency exchange WBB Exchange;
  • HARD CAP = € 25 million equivalent to 33 380.51 ETH (at an exchange of € 748.94\1ETH, as of 16.02.2018)
    This will include marketing, acquisition of one bank, development of the WBB Mobile Banking software; establishment of the WBB Exchange; establishment of the cryptocurrency fund WBB – Found; establishment of the WBB Depositary (storage of digital assets); creation and sale of card product packages (Virtual\Electron, Classic, Gold, Platinum) in cryptocurrency, wage fund.

PRE-ICO starts on April, 27 and is supposed to be held during two months.

Individuals and corporate clients who will buy Wibcoin (WBB) tokens during the first three days of PRE-ICO will be offered extra bonuses as follows:

  • when buying from 100 to 499 tokens Wibcoin 25% are accrued;
  • when buying from 500 to 999 tokens Wibcoin 30% are accrued;
  • when buying from 1000 to 4999 tokens Wibcoin 35% are accrued;
  • when buying from 5000 to10 000 tokens Wibcoin 40% are accrued.

Providing of the PRE-ICO will be focused on creating the World Bit Bank prototype: purchase of a bank in Europe, rebranding and all necessary procedures, launch of the first bank under the World Bit Bank brand; creation and realization of card product packages (Virtual\Electron, Classic, Gold, Platinum) in cryptocurrency; preparation for ICO of the World Bit Bank project.

Images courtesy of World Bit Bank

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