Polybius Bank Regulated Bank for the Blockchain Generation







  • About Polybius

    a contemporary banking institution with a progressive approach

    With the support of global banking experts and renowned tech veterans, Polybius aspires to build a comprehensive banking solution for all.

    Polybius Bank will combine features of modern banking, IoT, Big Data and Blockchain-based technologies while also meeting security and UX requirements. The Digital Pass technology, developed by HashCoins and implemented into Polybius Bank, will serve as an automation and digitalization ecosystem, allowing us to not only integrate single companies, but entire industries enabling access to financial and industrial services in the same Pass, at a click’s hand.

    Polybius financial services will be fully interconnected with international systems to respond to the transaction needs of our customers worldwide. If you have ever contemplated the inner workings of a bank or you are a fan of new revolutionary technologies, take a look at our Prospectus below!

    Roadmap:

    Money Makes Money


    How to build a successful bank? You need a starting capital and skill to manage it. A professional team is just a part of the success and even though Polybius has bankers, financiers, economists and specialists from many areas, smooth and seamless development requires significant capitalization. That is why we are raising investments using the most convenient and technologically advanced mechanism – the ICO. In return, 20% of Polybius Bank profit will be shared among Dividend Token holders

    The mechanism of receiving the part of the profit and its amount in percentage will be written in the bylaws of the company. The distribution will be performed using a smart contract.



    Technologies:


    Polybius Bank will operate on the principles of an Open API, employing reputable innovations and services within the framework of payment and data processing industry.

    The activities of the Polybius Bank will be developed on an incremental basis investing the capital according to the development of the customer base and with the objective of maximizing the capital versus revenues ratio.

    By providing the infrastructure for system-to-system communications, Polybius Foundation will act as a Trustee service and will be responsible for the control and execution of compliance-related directives.

    Designed to comprehend a variety of networks, the infrastructure of Polybius Foundation features a multi-segment decentralised data storage for personal data, cryptographic encryption of all entries and secure mechanisms of identification, authentication and authorisation of individuals and companies by means of the interconnected instruments.

    The data will be driven from all the channels related to services of Polybius Bank, Digital Pass and its trusted entities for further processing and analysis. Due to the sensitive nature of the information and to ensure the scalability in processing capacities, the evaluation of data will be automated by means of applied AI algorithms.

    ICO details

    What is a Polybius token:Polybius token - Polybius Blockchain Share - represents the right
    to receive a part of company's profit. All the shareholders are eligible
    for obtaining dividends according to their stakes. Any number of tokens
    (100%) sold at the end of ICO have right to receive 20% of company's
    profits

    Payout Structure:According to the company bylaws, at the end of a financial year
    20% of the company's profit is transferred to an ETH wallet. The ETH is
    then redistributed to all holders of Polybius Tokens according to smart
    contract conditions

    Symbol:PLBT

    Total supply:not locked

    Adjustable:YES (since total supply is not locked, we will need to be able to add tokens before end of sale and revoke the unsold amount)

    Initial Rate:Price per token, locked. 1 token = 10 USD



    ICO Structure

    100% of Dividend Tokens grant the right to receive 20% of Polybius Bank dividends



    Team:


    Links:

    Website:

    Twitter:


    Facebook:

    Email:info@polybius.io



  • Polybius Team of Advisors Continues to Grow

    Just recently we wrote about the expansion of our advisory and consulting team when auditing experts from EY Swiss office agreed to join us. And now we are proud to announce that this was not the last addition to the team as Dmitri Laush has joined the Polybius advisory board!

    Dmitri, the CEO and Co-Founder of Admiral Markets — a brokering service which was established in Estonia and has been successfully functioning on the global market for about 14 years — will advise Polybius on the area of assigning services for trade in the derivative markets and on the integration of cryptocurrencies.

    As a representative of the investment sector, Laush is one of Finance Estonia’sdirectors. This non-commercial organisation helps firms from the financial sector to communicate directly with the state, thereby creating more favourable conditions for the development of financial technology projects in Estonia, and supporting the country’s economy.

    Dmitri believes that services based on blockchain technology allow business to significantly reduce their expenses, making services more efficient, secure, cheaper in the long run and more accessible for the user. The most promising technology of Polybius, in his opinion, is the Digital Pass, that is currently being developed by the Polybius Foundation using own and investors’ capital.

    Digital Pass, the key technology of Polybius is a unifying next generation digital identity infrastructure. Being the product of our development, this standalone technology and service aims to standardize system-to-system communication, and enable trust through the integrity of records. It is designed to facilitate individuals and businesses to get access to, and to keep encrypted personal & corporate data safe, using a privately accessible decentralized ledger as a mean of data transportation. The data will later be used in a secure, open and non-discriminatory manner to increase the scope of Polybius procedures, as well as to build an ecosystem for businesses and governments in strict accordance to regulations issued by the European Parliament and outlined by the European Commission.




  • The Polybius Project ICO Has Raised a Big Enough Sum to Open a European Bank

    6 June 2017 | The money raised from the Polybius project’s crowdfunding campaign has crossed the $6 million mark, which means it will be possible to register Polybius as a bank and open it in the EU. This target was reached only three days after the ICO opened on May 31st. According to the Polybius Foundation’s calculations, this will be sufficient to obtain a full banking license and to launch the bank in an EU country.





    Right now, on day 6 of the ICO, more than $10 million has already been raised.

    The successful start to Polybius’ ICO confirms our calculations about the demand for a financial institution which can serve as a bridge between the crypto world, with its super high speeds, and modern banking, with all the rigor of its legislation. — Ivan Turygin, CEO and Founder of Polybius Foundation

    The Polybius project, established by the Estonian company Polybius Foundation, started out in response to the opportunities created by modern European legislation. It is firmly targeted at developing the financial technologies sector both in the European Union and in Switzerland. Specifically, it is now possible to use blockchain as a basis for documentation and for recording bank transactions.

    Other innovations which should increase the effectiveness of the future Polybius bank include the use of specialised artificial intelligence for crediting, and Digital Pass, our own digital identification technology. Digital Pass is a secure digital substitute for using physical documents for identification, where personal presence is required.

    The new EU legislation allows such a project to be brought to life for the first time in the form of a full universal bank, which can function within the legal framework.

    When Polybius Foundation’s ICO has concluded, Polybius Bank’s country of registration will be announced. Right now the choice comes down to Lithuania, Luxembourg, Finland or Switzerland.

    While the first week of the ICO continues, everyone who takes part in it will be able to purchase Polybius investment tokens with a 20% bonus. The bonus will drop to 15% from June 7th.

    Questions from the press and bloggers should be directed to:

    Polybius Foundation’s official representative Edgar Bers

    edgar.bers@polybius.io

    Skype: edgar.bers

    Telegram: +37258159212







  • What are Polybius tokens and why should they be in every crypto-investor’s portfolio?

    Perhaps you’ve already heard of the ongoing Polybius ICO. Indeed maybe you even know what an ICO is: a crowdfunding model where the project releases tokens for sale, giving the buyer a number of privileges. We needn’t look far for examples: Polybius tokens provide the holders with a fraction of the company earnings, 20% of which go to the owners. Essentially, a token is a smart-contract. In the case of Polybius, the tokens are smart-contracts in Ethereum. Of course, smart-contracts can be written in more than just Ethereum but it is the most popular, most famous, and widely trusted option. Therefore, the choice was not difficult.

    Basic Facts about Polybius Tokens

    …or what you can read in the initial code of the smart-contract.

    • all Polybius tokens were created before the beginning of the ICO;
    • each token has a value of $10;
    • in the first 48 hours of the ICO tokens were sold with a 25% bonus, after which the bonus was reduced by 5% each successive week;
    • by the end of the ICO the number of sold tokens will be considered 93% of all tokens. 5% will go to the founders of the Polybius project, and the remaining 2% will go out as a bounty reward to those who supported the ICO;
    • naturally, the quantity of tokens is limited: there will be all of 20 million. This means that the fundraising ceiling for the ICO minus the portion set aside for the founders, the bounties, and bonuses, can not total more than $180 million. Even if on the last day of distribution Richard Branson shows up on a resplendent white yacht packed stern to bow with cash, we wouldn’t be able to sell him any more;
    • upon completion of the ICO, unsold and undistributed tokens will be destroyed. The release of new tokens will not be possible as per the conditions of the smart contract;
    • after the ICO, it will be possible to trade the tokens on crypto-exchanges.

    From the perspective of cryptoportfolio composition, Polybius tokens are unique, first of all because they are supported by a project not within the crypto-world. Certainly, we call Polybius a cryptobank and blockchain bank, which is true, but this merely relates to the internal workings of the future bank. The facade will be one of a respectable universal bank, which can accommodate a cutting-edge crypto-startup from Zug, just as well as it can handle the life savings of an elderly Frau from Dresden. In both cases the money — fiat currency — will guarantee the value of the token as long as the bank Polybius itself exists. (Long may it live!)

    The future bank’s earnings in fiat currency make the token more predictable. Cryptocurrencies by their nature tend to be rather volatile. We needn’t search long for examples: the insane growth of Ethereum from the time people learned that Polybius tokens were to be released in it, on one hand, and on the other hand, the profound failure of Bitcoin in recent days, which cost us about $2 million after we reported our passing of the $20 million mark. Don’t worry. We knew what we were getting into.

    Being backed-up by fiat currency, but in fact being a crypto-product, Polybius tokens occupy two realms, and we like to believe they possess the best elements of both worlds. This makes them unique, and we would even say a ‘must-have’ for any balanced investment portfolio.

    Will there be distributions?

    The question of the month, which we answer every day: how can tokenholders know that even after the operational earnings it would begin to pay out dividends? It’s simple, really: according to the conditions of the ICO, payouts to tokenholders are directly connected to the earnings of the Polybius project. Everything is totally transparent. Reports on the bank’s financial state will be released at least annually but probably even more often because in Europe they’re very strict with accountability. At the end of every fiscal year profits will be fixed after calculating all expenditures and payment of all taxes 20% will be payed out to token holders. In this way, every year, when we have our earnings, tokenholders will have their dividends.

    Two important things to consider:

    • We regard the tokenholders as key members of the project. Tokens will be held by both the general public as well as the founders and key managers of Polybius. Our plan for the management of earnings takes the following form: 20% goes to the tokenholders, 80% will get reinvested into the development of the project. In this way, the owners and management of Polybius will receive the same dividends as those who participated in the ICO.
    • Let’s not forget that the primary value of any ICO lies in the tokens themselves. They have their own value, $10 at the moment of distribution. Upon completion of the ICO, tokens will be added to the list of the largest crypto-exchanges, where it will begin its own life dependent only on the news and success of Polybius. As the bank grows, so will the value of the tokens.

    Why will the value of the Polybius Tokens grow?

    In the coming year we see as a minimum three events which will positively determine the value of the token:

    • The completion of the ICO and release onto the american market. Right now, American fiscal legislation does not allow citizens of the United States to participate in ICO’s. One of the biggest law firms in the world, Hogan Lovells, in consulting with us recommended to restrict sales to American residents. Now, everyone who registers on polybius.io sees a strict warning, stating that American citizens are not allowed to take part in the ICO. Of course, this lowered the amount that we could have potentially raised, but this works in the tokenholders favor. After the release onto the crypto-market, citizens of every country will have the opportunity to purchase tokens without restrictions, and we expect that the Americans will immediately raise the value of PLBT.
    • The launch of the Digital Pass prototype. Even to this day, we haven’t spoken enough about this idea. However, once the sum needed for its development and launch is collected, we will correct this. The digital passport under the working name Digital Pass is an instrument for the access and control of sensitive personal information in blockchain. Its goal is to reliably and securely remove the need for paper documents and personal presence of the user in contact with government and private entities. This gives the opportunity to remotely receive financial, medical, and other services which traditionally require a personal visit, the presentation of original documents, and/or signatures in person, as well as receive services previously only available to residents of a given country. Now, we’re speaking about European countries, regardless of how tightly the European Union countries are connected, even now there isn’t a unified, centralized credit history, or medical insurance database, thus a citizen of one country in the European Union can not receive credit or medical insurance on adequate conditions. In the future, Polybius and our trusted partners, such as credit agencies, will confirm the authenticity of the information introduced by the user (that is, he is who he says he is), and blockchain in the core of Digital Pass guarantees protection against distortion, falsification, or deletion of material. We plan to roll out a beta-version in 2017 and this event will certainly spur interest in the project and, it would follow, the value of PLBT.
    • Release onto new, large, exchanges. Right now the list of future platforms on which one will be able to trade PLBT include litebit.eu, btc-alpha.com, c-cex.com, livecoin.net, spacebtc.com, cryptodao.com, and bittylicious.com. We plan to release onto even bigger exchanges and we calculate that each such announcement will pull the value of PLBT upward.
    • Launch of the bank. The receipt of a license a single European country can take from 4 to 24 months. When this happens, the owners of Polybius tokens will celebrate a sudden jump in value, and the rest will look on in envy and lament that they didn’t get in on it when the tokens “only went for $10”.

    Still, we do not recommend that you hurry to resell your tokens. The most interesting part will be after the launch of the bank itself, key products, and the payout of dividends. That is when PLBT will really start to take off. Until then, it’s better to be patient.

    To invest in Polybius tokens while they are still $10, you can participate in the ICO right now! Until June 21 the tokens are being sold with a 10% bonus. At the moment the ICO has raised the equivalent of $21 million.





  • TASS interview with Polybius co-founder Ivan Turygin

    The first fully digital bank based on the decentralized ledger technology — blockchain — is now being created in Estonia. This new and unique financial institution is going to offer not only traditional bank services but also to interconnect the world of traditional finance and cryptocurrency start-ups.

    As Ivan Turygin, the co-founder of Polybius told TASS journalist in the interview, he and his colleagues got the idea of a new bank after being involved in cryptocurrency business for four years. “At some point while visiting various blockchain (a distributed ledger technology which is a base for cryptocurrencies. — TASS) conferences we noticed that the audience is quite diverse and includes bankers, investors. Lots of them were curious how and where to use blockchain.”

    Soon such organizations as National Bank of Lithuania and First Credit Bureau of Kazakhstan started to approach them with questions regarding blockchain. “And we started to think: what if we could build a modern bank using blockchain as one of the technologies? All document management and intrabank transactions might be done using blockchain because this technology allows to store the data securely and to confirm its integrity with fewer expenses. Banks like that don’t exist yet.” — Ivan says.

    They also used blockchain to raise funds. “During our ICO crowdfunding people were purchasing special Polybius Tokens. Tokens allow us to pay dividends via so called smart-contract system” — he explains.

    In the process of fundraising, Polybius project developers were consulted by experienced international bankers from countries like Switzerland. In a month the project raised 31 million USD which is enough to create a bank.

    What can a blockchain-bank do?

    Successful fundraising creates plenty of opportunities for further development, project creators say. One of the possibilities is to apply for an EMI license that allows the institution to start its banking activities on a tight schedule. In 2018 Polybius plans to start offering traditional banking services, such as accounts, loans, credit cards, once the license in one of the EU countries is secured. Furthermore, Ivan is confident that usage of blockchain might reduce expenses by half gaining an advantage over other financial institutions.

    Polybius’ second strength comes from the project developers’ experience in cryptocurrency business. “Our goal is to become, as we call it, a crypto-friendly bank. There is a lot of startups which are related to blockchain and cryptocurrencies. Although when these young entrepreneurs try to open an account in a traditional bank, they usually get rejected. Banks’ risk management departments do not really want to deal with cryptocurrencies. On the contrary, we are in the loop; therefore we are ready to open them accounts and help with their projects, for example by financing them” — says Ivan.

    He believes that the potential of this market segment is huge. “Economy of cryptocurrencies grows in an unpredictable and uncontrolled way. In the latest year and a half, total capitalization of all cryptocurrencies has enormously risen: from 5,5 bln USD in January 2015 to more than 83 bln USD today. The annual rate of growth is three-digit” — Ivan explains.

    For now, there are no plans for the bank to work with cryptocurrencies directly as it is illegal due to EU laws. But people in Polybius believe it won’t hurt the workflow. “Our primary mining business has already brought us more than 700,000 users from all over the world (including Russian Federation and CIS member states). We are going to offer our bank services to those people. Just as they trust us and our mining service, so they are going to trust Polybius” — Ivan supposes.

    Blockchain for the future

    Blockchain and cryptocurrencies are changing our reality, and the establishment of digital banks is only one example of those changes, Polybius’ founders think. “Traditional paper registries are digitized. The blockchain is enormously popular because of its ability to store data cheap and safe.” — Ivan states.

    Polybius founders are going to contribute to the development of digital bureaucracy by introducing the Digital Pass solution to the EU. “Estonian national identity card allows citizens to access their personal data, bank accounts or national registries quickly and easily. One can also vote online using such a card. Our idea is to introduce an upgraded eID solution to the EU, employing some cryptocurrency-featured technologies.” — Ivan says.

    Each Polybius user will get a Digital Pass and therefore an option to provide access to encrypted data, such as credit and insurance history and potentially — medical and education records, land ownership and much more. “Imagine you’re skiing in the Alps and God forbid you to hurt your arm or leg. You get to a Swiss hospital and neither the doctor speaks English nor you speak German. But with the Digital Pass in place, hospital staff should be able to get all the required medical information anyway.” — he explains.

    Blockchain perspectives in Russia

    Ivan believes Russia will not be left behind of this dynamic blockchain development. “There is a lot of talented people in Russia, and they might play a significant role in the development of digital technologies. Would you take a look at the biggest blockchain and cryptocurrency market insiders, you’ll definitely notice some Russian or Ukrainian names there.” — he says.

    “After the St. Petersburg International Economic Forum a lot of our Russian partners and buyers started addressing us. Many of them were eager to utilize fresh blockchain development programs that appeared in some regions with the government’s help. They intend to open some innovative technoparks — it seems blockchain was given the green light in Russia.” — Ivan considers



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