ENTRY - The People’s Bank of Blockchain
In the global financial crisis, it is clear that the current financial system is extremely deficient. It also becomes clear that these vulnerabilities can have a major impact on the global market even in the future. Even today, the global economy is struggling with slow growth. Cross-border remittances are still quite complex. It also consumes a lot of time and is quite expensive.
The current model runs on slow banking systems and full of intermediaries. Besides, you have to deal with counterparty risks, extensive paperwork and lots of bureaucracy. The business model created by this project has focused on breaking current financial models. The current models focus only on maintaining the phone number without providing any real value to the consumer. By eliminating intermediaries, it will help make the system faster, safer and more cost effective for those involved.
Despite the fact that the electronic money market is growing day by day, and more and more blockchain-based startups demonstrate the benefits of decentralization, there is still a distinct separation between traditional business and blockchain. That is, in large part, caused by the possibility of wasteful investment, the lack of expertise and the overall fear of changing things that have worked for years.
This situation will not go forever, all it takes is a company to become accessible and profitable enough to serve as an example. The main feature of electronic money is the ability to perform transactions with top security and without considering borders or distances. Blockchain banks have the potential to accelerate international transfer rates, withdrawals and the integration of new services and partnerships.
The mistrust of the centralized banking system and their unclear methods of coping with the aftermath of the financial crisis have reached the final point. Now the world economy is filled with the opportunity for a project to eliminate the unnecessary middle-aged men, it's time to waste, money and stop innovation.
One of the outstanding projects is ENTRY.
ENTRY is a blockchain-based banking service designed to increase electronic cash flow in the real economy. It is designed to allow people to use fiat as well as electronic money in their daily purchases without actually having to worry about the technology behind the system.ENTRY to become a full-fledged bank. The real bridge in the post-fiat world. Its entire framework is structured to enhance the utility of all passwords. ENTRY's suite of products allows it to touch the financial lives of all encrypted users and change it for the better.
The ENTRY platform is based on blockchain technology and uses smart contracts. The purpose of the platform is double.
First, it will act as a bank where users can store their e-money notices, make payments and lend money.
They will also be able to transfer both electronic money notices and international remittance, as well as ATM withdrawals.
The second objective is to act as an electronic money exchange for businesses and individuals.
ENTRY will provide payment and loan services, deposits, international transfers, ATM withdrawals, as well as electronic money to electronic money and electronic money to exchange fiat.
There are six main contributing factors to the ENTRY business model:
Entry.Money is a fiat e-commerce platform and cryptocurrency. ENTRY will invite internet merchants to pay all their payments using Entry.Money, this will create the freedom of choice for their customers. Whether they choose electronic money, or fiat, the switch will be simple and fast. No need to consider national borders and all user information will be stored securely on the blockchain.
Entry.Bank is created to reduce international transactions and provide all functions like a traditional bank. A personal debit card, loans and investment services, factoring services, insurance, is one of many benefits that can be accessed through this mixed bank.
Entry.Exchange is a leading electronic money exchange rate. In addition to allowing traders and traders to trade in and out of some currencies, it will provide space for high-frequency traders and traders, who are struggling, due to time constraints. Their longer.
Entry.Network includes the technical back-end of the platform, including smart contracts, electronic wallet, etc. An API will be provided to third party companies to integrate into the project. of their own. Features that partners will be able to access will include wallet, API for transactions, platforms as a service, and so on.
Entry.Cash is specially designed to increase accessibility through ATM withdrawals and payments. ENTRY plans to offer free debit cards, free automatic money transfer and free exchange immediately after launch. Electronic money is not big enough to completely replace fiat for everyone, so reducing users to the system through cash is the best way to do it.
Entry.Token is a utility token, which is the main fuel of the entire ecosystem. A standard token ERC-20, based on the Ethereum block at release, will then be moved to a blockchain of the own development of the Entry. This will bring a cost-effective complement to all parties, and the hands of Untie Entry in more ways. Input tokens can be used to pay for any fee in the ecosystem, as well as to distribute the content.
This unified system, provided by artificial intelligence, and full of tools, will eventually allow people to use fiat in parallel with electronic money, will inevitably increase electronic cash flow. into the real economy.
===== The Benefits of the Project =====
A simple and affordable Fiat exchange for electronic money and vice versa;
Reliability and transparency of activities provided by the use of blockchain;
Ability to integrate platform functionality into third-party resources;
"Transfer" of banking services to a more stable blockchain environment;
The presence of familiar tools to simplify the penetration into the cryptographic industry;
The complexity of the services, making the platform universal in terms of functionality.
=== ❂ ❂General Community ENTIN ❂ ❂ << ====
Website: https://entry.money/
ANN Bitcoin: https://bitcointalk.org/index.php?topic=3229958.0
Official report: https://entry.money/ENTRY_Whitepaper_v1.pdf
Facebook: https://www.facebook.com/entrymoney/
Twitter: https://twitter.com/EntryMoneyICO
Telegram: https://t.me/Entry_Official
Average: https://medium.com/@entry
Reddit: https://www.reddit.com/r/EntryMoney/
Github: https://github.com/EntryMoney
Author
Bitcoin Talk Username : hieuvm1991
Bitcointalk Profile Link : https://bitcointalk.org/index.php?action=profile;u=1861270
Ethereum Adress : 0x103Ba1E2f25029f95fA379125e6BCfF76F2f525A
What do you think is missing from the current banking system that can be created using the blockchain? Do you completely switch to a decentralized bank if selected? Please let me know in the comment section below.