Describe the company – the elevator pitch …
Fintech company iCrypto S.A., developing Datarius Cryptobank, is at the forefront of new digital economy.
The Datarius project is a new, social-type cryptobank with transparent conditions. In cryptobanking industry, Datarius will become the first financial institution capable of offering its customers a full range of financial services implemented within a decentralized system.
The uniqueness of Datarius Cryptobank is that the project allows customers to get services, adapted to their needs. Datarius will operate on the basis of P2P ecosystem (peer-to-peer), where transaction participants are private users, and not banking institutions.
This is not a novelty in the financial market, but system offered by Datarius inherited best traits from traditional banking products, adapting them to the principles of decentralized system operation. Such platform will be a perfect solution for people without credit history, to whom traditional banks cannot provide loan proposals, or for whom current offers on the market will cost much more.
— Datarius (@Datariuscrypto) February 12, 2018
The Datarius project has a global value. It is designed to overcome current difficulties connected to use of cryptocurrencies in non-digital world, introducing options of integrated crypto- and fiat money services into payment infrastructure for this purpose.
Primary mission of Datarius cryptobank is creation of P2P-system that would make use of full potential of decentralized financial technology within the framework of cryptocurrency payment system and real life.
Another substantial part of Datarius mission is to provide world community with access to major financial instruments in P2P transaction format.
In relatively short time cryptobank clients will receive services that ultimately meet their needs, because transactions will be conducted in automatic mode, while services will be customizable. Any transaction will be much more profitable since P2P-platform does not split loan and deposit products and does not involve staff dealing with this.
Unlike most developers who continue promoting monopolization of world financial market by large players, Datarius team aims to create perfect financial institution that would adopt all advantages of traditional financial organizations, leaving behind their major disadvantages: non-transparency, unpredictability, lobbyism, and administrative burden.
Datarius model represents decentralized system in exceptional and most complete format. It includes blockchain technologies that ensure secure information recording and storage. This excludes the possibility of changing or falsifying any piece of data.
Usage of cryptocurrencies, which do not require central control, as well as smart contracts allows to process transactions more efficiently and safely compared to conventional deals.
Datarius is a decentralized partially closed system which sometimes excludes bank participation that makes it possible for users to gain profits. The system allows users to make their own decision when judging the appropriateness of certain services
and applications, which minimizes cost of processing transactions. Customer selects a service according to his/her own requirements and pays the price without customer service charge.
System of decentralized Datarius Cryptobank is oriented on cooperation with wide audience and is available all over the world. In addition to current members of Crypto Community, Datarius welcomes people who are just starting to get acquainted with cryptocurrencies or who do not trust FinTech market yet.
Customers will be able to conduct transactions from any corner of the world in a matter of seconds with no limits and no need to wait for a plastic card issue for several weeks.
Customers from di erent countries receive Datarius cryptobank services on equal terms. Transactions and funds transfers are done instantly after closing a deal. Fees for processing the operation will be reduced to minimum payment for the transaction, regardless of both parties’ location. Datarius provides an opportunity for its clients to receive credit lines from creditors from other countries. For example, a customer can choose a loan with a lower interest rate in countries of Western Europe or America, where such services are much cheaper.
This practice was used by traditional banks at dawn of mortgage lending; within decentralized P2P-system cost of such products will be lower due to savings on customer service charges. Thanks to blockchain technology, whole operation history and credit check results (scoring) are recorded in data chain and cannot be changed from outside. This approach reliably protects customer’s personal data and records all information about their activity in the system, which significantly reduces the risk of document falsification or financial fraud when closing a deal. Account is linked to user’s identity, scammers will not be able to intercept or falsify their data.
Datarius offers a wide range of tools in investment, credit and currency fields. FinTech startups, individuals and legal entities gain access to loans, bailment and investments. Flexible system allows any customer to transfer their personal and/or company accounts to cryptospace, considerably saving on banking servicing and even earning from it.
Datarius products have simple, completely transparent and comprehensible conditions without hidden fees and “fine print requirements”.
Thanks to flexible settings system, all operations will meet customer’s requirements to the best extent, so they will not overpay for general conditions of the product.
Datarius Cryptobank does not charge additional bank fees for servicing product, which makes it possible to reduce operation cost by 30% compared to conventional bank fees.
Datarius is a partially closed system in which a part of funds always remains inside. The cryptobank is the guarantor of the fact that cryptocurrency exchange prompts a “financial bubble” jump, that can burst at the most unexpected hour, but will not grow. All data is under reliable protection of the system, which excludes the possibility of illegal money circulation.
In Datarius project, customer receives a rating and gains full access to various service sectors. Depending on its value, users can try themselves as borrowers or investors, place funds at any deposit to accumulate interest.
Datarius is not limited to operations within cryptocurrency system. It provides gateways for both national banking and electronic payment systems. Account holder can pay cryptocurrency for goods and services, pay bills in online stores that support this type of payment.
Customers of Datarius cryptobank can customize personal cabinet for their own needs. Initially, all users have access to standard simplified model, additional services can be added at any time.
A set of these advantages is far from all that Datarius project offers. In addition to payment, investment and credit systems, Datarius offers currency transactions that gain popularity. Automatic interchange, internal exchange and gateways to the TOP-exchanges will be available for users. Automatic exchange is a traditional currency exchange in cryptobank’s own exchange. In internal exchange, it is possible to choose different rates at which participants profit without bank regulation, and thanks to gateways to TOP exchanges, users are invited to exchange their funds at the cryptocurrency best rates.
— Datarius (@Datariuscrypto) February 11, 2018
Datarius gives users 3 options for direct lending, from which one can choose the most adequate.
For investors there is a flexible system of deposits in Datarius, 2 options for investment programs and “demand deposits” service. Thanks to use of quick-turnover instruments, depositors have simplified opportunity to earn money quickly and by legal means. Compared with mining mechanisms, this is a much simpler way to multiply your capital.
A distinctive feature of Datarius Cryptobank was exceeding of crowdfunding platform limits and, as a result, emergence of a more efficient services for legal entities.
Datarius offers companies to take out credits directly without intermediaries. This allows organizations to obtain required amount on attractive terms for a short period of time.
Cryptobank plans to issue cryptocurrency cards that will operate within the system and in partner companies systems. Customers can use card to pay for goods and services, make purchases on sites that accept bankcards as payment. It will be possible to withdraw and deposit cash at partner’s ATMs.
To verify borrowers, Datarius uses scoring system based on unique algorithms, which takes into account already available data of partner companies. Based on these and other settings, system decides to grant loans on the definite terms.
Datarius combines features of decentralized and traditional banking systems. When opening an account for a cryptocurrency, Datarius opens a real account for a physical person in customer’s name. In current situation with legislative status of cryptocurrencies, this expands customer’s payment abilities while blockchain economy is in development. All Datarius customers can use their bank account funds with no limit, as if they used traditional bank services.
Datarius is open for cooperation with other blockchain projects and plans to assist market participants in overcoming cryptocurrency transaction barrier within payment system. For this, unique methods of verification for their partners were developed.
Project creators considered possible failures of automatic rating system of the borrower and added user ratings of individual system participants, user groups and specific transactions. These and other parameters form participant’s general rating, which allows for more objective assessing of prospects for mutual interaction.
Confirming its status as a social bank, Datarius integrated Trust Limits system into the credit segment. This option is available in Webmoney, but an advanced system of settings that allows defining limits for different groups of borrowers, is applied here.
It is possible to set credit line criteria for a particular user, group, or all users. It is also allowed to create more flexible system settings for accepting trust limits by predefined criteria.
Datarius system involves development of an extensive API network in terms of the interface. In the future a full-fledged hardware complex is planned for creation.
Both individuals and businessmen can use products and services provided by Datarius. Datarius can offer to integrate crypto startups and legal entities, seeking to transfer financial transactions to crypto space, into its unique system. Due to such competitive advantages, Datarius plans to establish strong market leadership in cryptobanking industry.
— Datarius (@Datariuscrypto) February 7, 2018
How are you different?
– Widest range of financial tools
– Social orientation (trust management, trust limits)
– Possibility to earn for customers
There are a few more basic differences from the traditional banking system, which should be emphasized.
|Traditional bank||FinTech competitors||Datarius bank|
|Instruments||Limited by specialization||Field-specific||Widest possible|
|Client earning possibility in cooperation with a bank||Excluded||Not applicable||Possible (roles, programs, fees for activities, commissionback)|
|Lending||Traditional||Simple P2P||Package landing (3 levels of landing)|
|Currency exchange||More than 5%||Less than 5%||0%|
|Risk-management, scoring||Obsolete statistics||Bigdata + sometimes AI||Bigdata + partners + AI|
|Integration of external services through public APIs||Impossible or slow and difficult||Possible||Possible; easy and fast|
|Trust level||Trust to the bank||Symbiosis of institute and blockchain||Distributed registry technology (blockchain)|
|Monitoring||Centralized model||Symbiosis of institute and blockchain||Decentralized model|
|Funds monitoring||Bank||Symbiosis of institute and blockchain||Customer|
|User identification||Documented||Symbiosis of institute and blockchain||Biometric|
|Transaction fee||Up to 5%||Less than 0.5%||Less than 0.5%|
|Social orientation||Conservative||Not applicable||Open. Trust limits and trust management|
|Monetary paradigm||Fiat only||Fiat – crypt||Fiat-crypt-fiat in any combination|
|Multinational transfers||Monitored, slow and expensive||Non-personalized||Non-personalized, fast and cheap|
|Play rules||Directed||Symbiosis of institute and blockchain||Democratic|
|Scalability||Slow and expensive||Fast||Fast and cheap|
|Instant transfer systems integration||Partnership||Not applicable||Integration with due account for users limit|
|User training||Minimum||Not applicable||Online guide at every stage of development|
|Geography of presence||Limit on capital and regulator||No limits||No limits|
|Communication with the customer||Template approach||Indefinitely||Individually based on AI|
Why will you do well?
– Profound idea
– Professional & open organization of ITO (see Whitepaper page 35).
– Strong team (see Whitepaper page 41).
– Good start (during pre-sale the soft cap reached in 2,5 hours. Totally collected is about USD 500.000).
– The rate of DTRC will grow any way because the token is a “operations key” in Datarius cryprobank and growing number of customers will need it to use the bank services.
Where are you based?
– Registered in Costa-Rica, head office in Prague, back office in Kiev.
When was the company launched?
What have been your biggest wins to date?
Soft cap (USD 125.000) reached in 2,5 hours during pre-sail.
Uniting strong professionals
Who are you trying to attract to your product?
Later– customers (those who prefer transparent and relatively cheap crypto banking to classical one; those from the areas not covered by classic banking services)
What tips would you give to others looking to build their business?
– Test the idea accurately and intensively
– Create a good professional team
– Be dedicated to the project
– Short successful steps– long successful run
Tell us about your team?
– Dedicated people (see Whitepaper page 41).
– Professionals with proven record
– Horizontal business-management
What are your plans for the future?
02.2018 – the approval of the prototype TR (it’s been under development since 2017)
03.2018 – the initiation of the user interface development
04.2018 – the obtaining of the DPL license (Costa Rica) – payment system, asset management company, investment company (the application was sent in December 2017)
04.2018 – the start of work on testing our own blockchain
05.2018 – the signing of the bank support agreement and integration of co-branded IBAN/SWIFT accounts and debit cards
05.2018 –launching the development of own machine learning system AI
07.2018 – the completion of work on user interface integration and P2P platform organization
07.2018 – embarking on the mobile application development
08.2018 – the presentation of the fixed checks function
09.2018 – the integration of internal exchange
09.2018 – the public algorithms testing for the applications machine ranking in the testnet
10.2018 – the launch of the basic version
11.2018 – the presentation of training materials and introduction to the Training Center
11.2018 – the integration of virtual maps
12.2018 – the beginning of the social functions development (Trust Management/Trust Limits)
12.2018 – the presentation of test version of mobile app to competent users
02.2019 – the completion of the testing phase, the launch of the commercial version and the intensified PR campaign
02.2019 – the preparation and submission of documents to obtain the license from the British financial regulatory body FCA
02.2019 – the provision of confident users with the test access to social functions
03.2019 – the release of the commercial version of the mobile app
03.2019 – the presentation of a team of full-time professional managers
04.2019 – the integration of the Affiliate Program
04.2019 – the presentation of the short-term savings account function
05.2019 – the presentation of the Training Center franchise and becoming a franchisor. Registration of the first franchisees
05.2019 – reaching the point of 1M active users
05.2019 – the first mortgage lending in DTRC
06.2019 – providing access to the function of the payment calendar and deferred payments
06.2019 – opening access to the examination to attain the managing user/managing analyst status
06.2019 – affiliate integration of the access to the exchange terminals with instant DTRC payment
07.2019 – the delivery of the first credit card
07.2019 – the presentation of the Cabinet for SMEs (package payments, regular payments, sub-accounts, expenditure control, co-branded cards, prioritized applications processing, preparation of electronic reports, statistics and analytics)
07.2019 – the locking from the TOP cryptocurrency exchanges through the partner trading accounts
08.2019 – the presentation of cold savings accounts
08.2019 – the integration and testing of the instant transfer systems
09.2019 – the provision of the test access to the portfolio investment formation module
09.2019 – the completion of open testing and the presentation of the first managers and analysts – users
11.2019 – the integration of biometric authentication
12.2019 – the presentation of the system automation commercial version based on its own AI
01.2020 – the first distribution of 65% fees and charges collected in 2019.
02.2020 – the integration of a private Pension Fund (most likely Jersey)
03.2020 – the submission for SWIFT membership status
04.2020 – the completion of the first “foot” bankers training and the program startup
05.2020 – the presentation of the venture capital fund composed of the ecosystem top users and internal funding platform
07.2020 – the integration of the access to investments in government bonds (developing countries)
What are your favorite tech gadgets?
– MCbook, iPhone
What tech gadgets do you wish you could use to help you?
How do people get in touch with you?
Personal: [email protected]
YouTube – https://goo.gl/vNv2Dp;
Telegram – http://goo.gl/nBfwkb;
Medium – https://goo.gl/31CuoZ
Reddit – https://goo.gl/2zj6p8;
Steemit – https://goo.gl/KaMhWM;
Facebook – https://goo.gl/BzDVt9;