ZeroBank, the new app-driven bank created by former FND chief executive Michael Jordan recently announced the formal launch of its feasible Initial Coin Offering (ICO) project. The innovative money transfer and exchange platform allowing instant non-commercial peer-to-peer transactions worldwide, is aiming to tap the $600 billion cross-border remittance market.
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And for that, the platform is employing the most popular and flourishing technologies of smart contract and blockchain. It will also include the proven sharing economy model so as to eliminate the hurdles that are a part of the traditional remittance and exchange systems. Ideally, the platform can be used to send, receive and exchange money quickly and directly anytime anywhere in the world using the network of community agents.
From immigrants to international students or tourists, any end-user can carry out the transaction at a minimum cost as the platform of ZeroBank eliminates the interference of all the centralized intermediaries including MTOs or banks. There are two reasons that make the ICO project from the ZeroBank as the most feasible one in the money exchange and remittance field.
This ICO project has been launched by ZeroBank after extensive preparation and studying the details of the model with Angel Investors and Partners. As per the report, the platform will launch the ICO with a Beta version anytime between August to the end of 2018. The company has roped in a team of experienced IT specialists and senior executives from the field of transfer and exchange, banking and financial services.
The company is issuing total security token of 1,600,000,000 ZB, and the target sale amount is $48M. ZeroBank is offering a 15% Pre-ICO bonus. The app-driven bank holds a provisional banking license from the SA Reserve Bank. According to the chairperson of ZeroBank, everyone including businesses, families, and communities can benefit from the services and products of the platform which are in tune with modern-day requirements.
