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      "body": "Good post. I was about to post a similair post. The crypto market: High risk high gains!. That doesn't mean that a gain is guaranteed though. There's simply no guarantee in anything in life and especially not in a high risk market.  This is quite an interesting website I found:  https://www.coincheckup.com They seem to give this complete indepth analysis of all cryptocoins.  On:  https://www.coincheckup.com/coins/Emercoin#analysis To see the:  Emercoin Detailed analysis.",
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      "body": "Interesting post.  I was about to post a similair thread. The coin market will be turbulent for the upcoming year(s) but I really believe in the blockchain as a technology.  We really need more insights in the market and previous investment results. Does anyone know about:  https://www.coincheckup.com This site did all the research for you. It's truly amazing. Check for example:  https://www.coincheckup.com/coins/Emercoin#analysis To watch Emercoin Indepth analysis.",
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      "author": "cheetah",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://www.coinjoker.com/reasons-invest-polybius/",
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      "body": "https://www.coinjoker.com/wp-content/uploads/2017/07/og-splash.png\n\nBehind the scenes at Polybius: three blockchains for all of life’s eventualities\nOn May 31st Polybius bank project launched its ICO. They are building modern European bank from scratch.\n\nhttps://steemitimages.com/DQmSB1qoBRJhJtrQgoLetjr89h2Pp8stVuBN6Da8CcJ6TGm/image.png\n\nThey have a goal to set up a bank which is running on up-to-date technologies. One of them is also blockchain. This also the reason they are trying to leverage existence of Ethereum. There is an article where Alex Batlin, blockchain lead at Bank of New York Mellon, said “that while the Ethereum alliance will focus on the development of private blockchains, the hope is that these will one day link up with the public Ethereum blockchain, which is open to all.” Source: http://fortune.com/2017/02/28/ethereum-jpmorgan-microsoft-alliance/\nThis gives polybius of course big opportunity to dominate this market, specially as they are publishing smart contract on Ethereum and have big goals to grow on this quick emerging market.\nThere is still a wrong impression in the world, what is bitcoin and how it is connected with blockchain technology. Let us again point out that Bitcoin is just one application that uses Blockchain technology for operation (transactions). At the moment biggest problem of existing blockchain networks is cost of a transaction (fee, network). From that reason we see existing Bitcoin network will never be used for quick transactions. Two weeks ago we  bought coffee with Bitcoins. The bill was around 20$ and we payed 7$ fee on the network for the transaction to be quickly processed. This is 35% fee.\n\nhttps://www.coinjoker.com/wp-content/uploads/2017/07/Screen-Shot-2017-07-01-at-11.05.17.png\n\nExample of “long” transaction between consumer and Merchant.\nFrom above reasons we believe Polybius has the right vision as they are trying to leverage benefits for using public blockchain in the right way and building private blockchain network for transactions. Polybius will Within the infrastructure of Polybius bank project use three different blockchains, each with different functions: Ethereum for the work of the Polybius tokens, Emercoin for documentation and a closed private blockchain for carrying out transactions.\nTokens on Ethereum\nPolybius tokens are in their essence is a product of a Smart Contract: 20% of Polybius bank project’s profits will be distributed annually among token-holders. Blockchain guarantees that the Smart Contract will be honoured and payments will be made. Since Ambisafe, the contractor which will release Polybius’ tokens, has experience of work with Ether, we decided that it was them we would choose to work with. Ethereum is not the only blockchain the Smart Contracts could be written on, but as it is the most popular and well-known it enjoys the greatest levels of trust.\nA Dividends distribution smart contract is designed to distribute profit among the investors according to their stakes. All the payments will be made in ETH. Dividends will be sent to those addresses whose PLBT token ownership will be proved by Snapshot of Blockchain.\nDocumentation on Emercoin\nThe developers of Emercoin blockchain took on Namecoin’s good idea of saving information in blockchain and ran with it: if Name stayed only in domains and only in the domain zone .bit, then Emercoin lets you record anything you like, up to 20 kB. This record has all the properties of bitcoin: it is unique, it has the ability to make transfers, and it unambiguously identifies its ownership.\nAll important banking documentation which may be interesting to the public/regulators, and which has legal records, will be saved in Emercoin blockchain. European countries do not forbid the use of blockchain in financial institutions on the condition that the auditor verifies its operational security.\nOne of the companies from the “Big Four” of auditing, Deloitte, is already using Emercoin in the DocSensus project precisely for documentation.\nPrivate blockchain for bank transactions\nIn contrast to the previous two cases, where dividend-tokens and Polybius bank project’s key documents will be saved in public blockchains, the fundamental activity of the bank — i.e. transactions — will be recorded on private blockchain. Disputes often arise among enthusiasts about whether private blockchain can really be considered as fully-fledged blockchain, given that the principles of distribution and decentralization do not apply to it. Ultimately there is overall control of all the purses. Nonetheless, even if we simply call it a database, it will be a database with blockchain features — and that means highly resilient to hacking and outside modification, which allows the expense of providing security to be reduced.\nHowever, the main reason for choosing private blockchain in this case was the speed with which transactions can be processed. The high level of cohesion in the network allows blocks to be closed significantly faster, guaranteeing high speed transactions. Moreover, having a private blockchain allows it to be built with specific requirements in mind — for example, the exact record size we need for transactions etc. AtticLab is working on developing an internal blockchain for the upcoming Polybius Bank.\nThe private blockchain records will of course be accessible to regulatory bodies.\nAbout Polybius Bank project\nThe Polybius crypto bank is a project established by the Polybius Foundation company. It will be an authorized payment institution, offering a classic banking service while working with the most up-to-date technologies, and complying with the strictest regulations of European legislation.\n\nThe money for the project launch will be collected over the ICO campaign, which began on May 31st and will complete on July 5th.\n\nhttps://www.coinjoker.com/wp-content/uploads/2017/07/bitcoin-blockchain-bank.jpg\n\nThey have very strong team behind coming from HashCoins, AtticLab and AmbiSafe, who’ve learnt the ropes so well from developing blockchain technologies and smart contracts that even a sailor would be impressed. This is one which we see it will be longterm rule changer!\nIBM is saying 15% of world banks will in next years implement Blockchain technologies. Will Polybius be one of the leaders?\nSource: http://fortune.com/2016/09/28/blockchain-banks-2017/",
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      "author": "satoshi092",
      "body": "This is a great company and I personally have invested a small fortune with them. Very happy with the services they provide!",
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      "body": "the best I put money into genesis when I should've been putting it in hashflare.io",
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      "author": "cheetah",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://hashflare.io/press-release/",
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      "body": "![](https://steemitimages.com/DQmYMQebSvco8kLcdWx3mDFBfCRX2uy7tU53DnDCLDvKyAv/image.png)\n\nAs we know, there are plenty of services that offer cloud mining. Why HashFlare.io?\nThe answer is simple: HashFlare is a division of HashCoins — a company founded in 2013, known for manufacturing and sale of cryptocurrency mining equipment. Extensive experience and good feedback from customers build trust and guarantee safety of investments.\n\n![](https://steemitimages.com/DQmTXjxhsctVb6ZeET99XMvuFYhBwg1sc5dpeazn366NDsa/image.png)\n\n![](https://steemitimages.com/DQmf3MxQnJvF4E3fuGqk1i5N2xtMqhABmT2NERRTxKuCJgP/image.png)\n\nCloud mining is a new concept, in which the user receives profit without high risk of losing invested funds, namely: mining cryptocurrencies on remotely hosted equipment. Same as with usual mining, cloud mining connects mining power to pools for the purpose of receiving larger rewards due to common efforts of all hashrate connected to the pool, as opposed to solo-mining. However, cloud mining implies that the equipment is already connected to an array of pools, the user only needs to select which pools to connect the available hashrate to.\nHashFlare was launched in the beginning of 2015. Essentially being an alternative to real mining, it allows the user to forget a number of troubles related to physically working with the equipment. This includes but is not limited to: high electricity costs, connection problems, proper cooling, high noise levels and shipping times.\nHigh-quality equipment by HashCoins allows the mining process to achieve maximum efficiency and makes the contract prices become affordable. At the current time, forecasts show there is enough time to receive a decent return on investment (RoI).\n\nHashFlare provides carefree mining on HashCoins’ equipment. As with many other services, HashFlare offers special features. For example: hashrate allocation to pools — once in 24 hours the user is able to select up to 3 pools to connect to and what percentage of hashrate to use in the selected pools.\nIn addition, the user is greeted with lifetime contracts (purchased hashrate does not expire), tech support that is available 24/7 and a functional control panel. User’s panel displays payout statistics, revenue and its forecast.\nThe service offers a beneficial partner (referral) program which allows the user to receive additional funds from inviting new users. The referral reward is 10% of any referred user’s purchase.\nThe latest updates to the service include reinvest (mined funds are automatically used to purchase more hashrate) and 2-factor authentication — additional layer of security for user’s funds and data.\nCompany objectives include making mining simple, accessible and affordable to both new and advanced users, all via HashFlare. Another important aim is promoting cryptocurrencies, their mining and the blockchain technology.\nHashFlare is a new range of cloudmining services brought to you by the HashCoins team of cryptomining experts.\nOur team has been involved with cryptocurrencies since the inception of Bitcoin and has over 3 years of experience in the field of mining cryptocurrencies.\nOur goal is to make mining accessible to all users regardless of age, location, investment, technical nouse or experience. We want to give our customers an opportunity to try out cryptocurrency mining and earn Bitcoin as a reward. On a larger scale, we hope to contribute to the development of mining services and subsequently to the development, establishment and adoption of Bitcoin both as a currency and as an economic system.\nCloud mining offers a unique option for mining with a low cost of entry as well as minimal risk and expense, which is opposite to traditional models of mining that involve procurement, maintenance and configuration of highly specialized hardware.\nDue to the very complex nature of mining and its dependence on many external factors (mining difficulty, bitcoin exchange rate, utility costs etc), it is next to impossible to predict the size of an individual’s earnings. One thing that’s not difficult to predict is Bitcoin’s prominence as a major disruptive technology for decades to come.\nIf you have any questions about HashFlare services or any questions about cloud and crypto mining, our team would love for you to get in touch. Feel free to drop by our office in Tallinn, Estonia, or alternatively get in touch with us on the phone or via Skype.\n\n![](https://steemitimages.com/DQmYz96JVreMSQfKsjNg64puNNyh3ToVZDCwd19oUARgYuH/image.png)\n\n![](https://steemitimages.com/DQmbmhXGjH5jZ6XKQQe4Bqcgpu6PJ3EHAYaXe9a2XXaNvmV/image.png)\n\nHASHCOINS DATACENTER\nHashCoins Datacenter is a modern, hi-tech facility, designed to house and host cryptoequipment.\nFacility’s temperature and humidity is kept at constant values according to industry standards. This allows for mining at maximum hashrates without overheating the equipment.\n\n![](https://steemitimages.com/DQmNjkZJnMWrjWKB6AQ3esN6nQdZuA9AhR7VRTRzyVBb2vm/image.png)",
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      "author": "satoshi092",
      "body": "I did the same and I have been buying additional shares for the past month. You're right, this is a long term hold as we are waiting for Polybius to receive a banking license, but until then I don't see much token appreciation for 2017. It is interesting to know that less than 1% of the ico tokens that have been sold and the reason for the drop in price after the ico was due to bounty payouts.",
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      "body": "Followme",
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      "author": "satoshi092",
      "body": "Thank You! ...and Yes  I am trying to publish more information about Polybius and there potential of being a leader in this market.  I believe Steemit is a great platform for cryptocurrency enthusiasts like myself :)",
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      "body": "![](https://steemitimages.com/DQmNsLSVzfFRCMZaNgB9mDuZJrqigXNsstiFmv5DpGWBfvY/image.png)\n\nAuthorizer.io was officially launched on May 18. This is an open non-commercial project intended to increase the security of user accounts, mitigate the risks of password interception and demonstrate the advantages of open blockchain technologies.\nAuthorizer.io was created through the efforts of three teams: HashCoins, Aspanta and Emercoin.\nThe main goal of the project is to draw the attention of users to password-free authorization technologies and to the advantages of blockchain certificates for daily use.\nAuthorizer.io enables website owners to integrate the authorization system quickly and easily through Emerсoin SSL certificates.\nAuthorizer.io is based on the oauth2 open authorization protocol and Emercoin blockchain technology. Blockchain is used to store the encrypted information on user EmerSSL certificates and virtual cards.\nThe advantages of Authorizer.io:\n1. Security. No password, and thus no risk of it being captured.\n2. Comfort. It is not necessary to fill out any forms, as authorization is made with one click.\n3. Anonymity. Only you own your data, which means that it is impossible to steal or falsify it.\n4. Freedom. The service is absolutely free for website users and owners.\n5. Usability. Daily use of certificates significantly saves you time.\n6. Flexibility. You have the possibility to use SSL certificates in any browser and on any device, including on smartphones and tablets.\n7. The human factor. Authorizer is intended only for people. Bots cannot use it, and spam is completely excluded.\n8. Innovation. There is no place for passwords in the 21st century.\nAnyone who wants to may create and get free a certificate: https://getssl.authorizer.io/en\nOfficial project website: authorizer.io\nMore about the developers:\nHashСoins is a team of ambitious developers of crypto-equipment and the creators of different services based on blockchain technologies.\nAspanta is an expert in the field of development of high-load web and mobile full-cycle applications, the reliable cloud resources of Microsoft Azure, and decentralized systems based on Emercoin.\nEmercoin is one of the world’s leading crypto-platforms with a large number of blockchain applications. It enables users to exchange money and valuable data at any time anywhere in the world.\nOfficial websites of the developers:\nHashcoins — www.hashcoins.com\nAspanta — www.aspanta.com\nEmercoin — www.emercoin.com",
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      "author": "vallesleoruther",
      "body": "I invested on Polybius ICO and got some of it at $10 then it entered the markets and plunged down to $4 at the moment. I had big losses. Investing in this types of ICO's are risky and should be for a long term hold to profit.",
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      "author": "satoshi092",
      "body": "At the end of March the Estonian company Polybius Foundation announced that it is launching the world’s first digital bank, which will work using blockchain. To find out more about this bank and why it’s needed, we’ve interviewed Edgar Bers, Foundation Official Representative.\n\n![](https://steemitimages.com/DQmSYmKqfvQmWL1WWjegQ2SgAgBeFwDP7dkEjc59TA6rURT/image.png)\n\nHow did the idea of a bank like Polybius come up in the first place?\nI live in Estonia. It’s well-known that Estonia is now one of the most completely digitized countries in the world: we even have such a thing as electronic residency. And here, we’re already used to the idea that all our services and resources should be accessible online. In Estonia everything is digital. In theory, opening a bank account shouldn’t be any harder than registering for an email address: you fill out an online form, you pass online authentication — and you’re sorted. In real life, the picture as in the past is not quite so rosy. Banks look like fossils from the analog age, as they always have: huge committees, fixed working hours, weekend closures, huge amounts of work done by hand and so on. With this situation in mind, any tech-savvy person couldn’t help but start thinking about how it could be changed. And so it was really just a question of time before a modern digital bank appeared — broadly speaking, as soon as people with experience, knowledge and the desire to make modern digital products got together with those who have financial expertise, banking experience and an understanding of what can and what can’t be improved within the conditions of existing regulations.\nHow can banks’ efficiency be improved?\nAs usual, the principal factor is the human factor. In modern banks there are far too many people who are really surplus to requirements. The people who deal with verification and transactions. Managers and clerks who work in offices, helping clients with operations that could be done online. Analysts who manage clients’ assets, studying the market and doing the trading. Even the cleaners who have to tidy up a huge area in these offices and bank departments every day — all this makes up a heavy load of expenditure which can and should be avoided.\nEven skilled work can now be done by robots instead: for example, one recently-developed gadget at JP Morgan can analyse financial documents in seconds, which would previously have required 360,000 hours of work per year from lawyers and Loan Managers — equivalent to full capacity work from 200 employees, who would receive fairly sizeable salaries, and these costs would then be transferred to the cost of the bank’s actual services.\nIt’s another matter to actually do all this, and it’s not straightforward. In essence, you could say, we need to reinvent the bank from scratch — and we know for sure that it’s simpler and cheaper to do this from nothing than try to change a huge structure that’s been formed over decades. And so the idea of Polybius was born: a digital bank, created from the very first with the use of all the technologies available in 2017.\nSo everything’s going to be digital at Polybius?\nEverything that can be digitized, will be digitized. We’re really aiming to digitize even what seems impossible to digitize. Bank payments are hardly rocket science; they’re just an exchange of data. Each transaction requires the creation, transfer and storage of electronic messages. The skeleton of a bank, the idea at its heart, is the transfer or creation (in the case of credit) of relative value and the storage of this information. The first banks didn’t need anything to function except a table and account books (the Italian word banco means the bench, counter or table on which money-changers spread out their coins). You don’t need many personnel for that.\nIt goes without saying that banks also have their own assets, private clients, and various other concerns besides payments. But there’s a lot of room for improvement here too with the use of modern technologies. Human involvement is, as always, necessary, but in far lesser quantity: only to control the robots’ work, and make the kind of critically important decisions which we’re not yet willing to entrust to even the smartest AI.\nAll the documentation in Polybius will be digital. We’re going to use blockchain for that: the technology itself will guarantee 100% that a concrete piece of information was entered at a specific moment of time, and will stay there without any chance of being deleted or changed.\nWill this be accepted as proof, legally, by the relevant courts in the EU and in other countries?\nYes, as soon as we’ve passed the appropriate audit. When we conduct the ICO, we’ll launch a banking platform which will include data storage in blockchain; we’ll submit our Articles of Association and other important legal documents, and we will need confirmation that all this complies with European laws. To get this, we’re applying to the central bank of a European Union country for an audit. Most likely, it’ll be either the Finnish or Lithuanian central bank. The state banks in these two countries are positioning themselves to be oriented as much as possible towards introducing and adapting modern technologies. In particular, Lithuania has made an open statement of intent as a country — to become a leader in the financial technologies sector in the global division of labour, so both central banks are fully committed to new technologies, including blockchain.\nRegardless of the country we choose, the central bank will conduct a thorough and scrupulous audit of our bank: from the front-end to the back-end — both from a digital and from a legal perspective. Needless to say, this includes assessing the blockchain’s security as an information repository. Basically, the regulator will be poking around with a flashlight in the very darkest corners, in order to thoroughly scrutinize Polybius Bank’s compliance with European standards of regulation.\nAre you sure that they won’t be worried about the use of blockchain in this bank?\nThe regulator has no particular preference as to where and how we store our data: be it on a napkin, be it in blockchain, as long as the process of data entry, encryption and storage complies with accepted legislative standards. And once the audit is complete, regardless of which country’s central bank conducts it, our software will automatically be licensed for banking throughout the EU.\nOur entire business, starting with the ICO and including the launch of the bank itself and its running, will be regulated by the laws of the European Union.\nThe project is being run by a team of people with great expertise both in the technological and financial sectors. You can have a look at all our staff on the Polybius site: https://polybius.io/#team\nHow long will the audit take?\nAt least two months. While the audit is being carried out, we’ll be working indirectly on setting up the bank: hiring staff, establishing relationships with partners and resolving a multitude of other corporate questions.\nHow much will setting up the bank cost?\nThe cost of setting up a financial institution depends on which type you choose. There are three options:\n— The first type is an authorized payment institution. In essence, this is a straightforward payment system. Its creation, including all stages of development, costs about $1.5 million.\n— The second type is an electronic money institution. Setting up “your own personal Paypal” costs $3 million.\n— The third type is a commercial bank. The cost of opening a bank comes to $6 million, including operational expenses for the first year, before the bank achieves financial self-sufficiency.\nAccordingly, the budget for launching Polybius will be $6 million. In order to raise this sum, we are launching an ICO — the digital equivalent of an IPO, only instead of shares we are putting Smart Contracts up for sale, guaranteeing our investors a share in the bank’s profits.\n\n![](https://steemitimages.com/DQmdmUibUQprKACnubTRh7sBXzyv28QKS5UpVw5mibTvFBv/image.png)\n\nMr. Edgar Bers, Blockchain & Bitcoin Conference Tallinn\nThe audit will begin once the ICO has concluded, when we will have a proper idea of the sum at our disposal for the Polybius launch, and we’ll know what type of audit we need given the choice of bank. Within a year the bank should at least be able to cover its operational expenses out of its income, and will then begin to generate returns for the investors who bought tokens.\nWhat is an ICO?\nAn ICO is a modern method of financing digital projects and technological solutions. It’s a form of crowdfunding based on cryptocurrencies. Rather than buying shares in the bank, investors will get digital tokens in the form of a Smart Contract, where the necessary obligations will be outlined. The ICO will allow us to get a license, pass the audit, hire our staff, develop or buy the necessary technologies, build an advertising campaign and work through the first year or year and a half, until we start to break even.\nWhy did you choose an ICO? Why didn’t you go for traditional crowdfunding?\nWe are a digital bank and we’re focused on digital solutions. In comparison to traditional crowdfunding, which includes a commission for the platform, an ICO is cheaper — which means more resources will remain for the developers.\nBut the main thing is that we’ll have Smart Contracts. With normal crowdfunding the interaction between the backer and the company which receives money is a one-off: you put in the money and receive your goods, your product. Our Smart Contract sets up a permanent relationship: tokens purchased from Polybius form a digital commitment, in the shape of a Smart Contract, that dividends will be paid to the tokens’ owners.\nSo the token itself has intrinsic value. To give a rough example, if you go on Kickstarter and finance a new type of pencil, and buy these pencils for a dollar apiece, in a year’s time you’d probably struggle to sell them on for that same price. And you definitely wouldn’t be able to sell them for double. But with the tokens you will be able to resell. Their price may well increase. They have value in the sense of a written commitment to be paid a share of the bank’s profits — dividends. And they’re easier to manage. Everyone probably has a written contract from their bank at home, which in practice you never use and probably haven’t even read. But Polybius tokens will be kept in Ethereum blockchain. Nobody will be able to forge one or destroy them. Managing your tokens remotely will be completely possible.\nHow can investors make a profit from this? How much money do I need in order to earn from this opportunity?\nWe are building a bank for people, and so the minimum cost to join will be only $10, the price of one token. People sometimes spend more than that in one month for some digital subscriptions. A couple of paid services a month, and you can kiss your ten bucks goodbye. Even if you just go for a beer in Tallinn after work in the evening, you won’t get away with spending less than that. So the price of a token isn’t that high: it won’t expire in a year, and it will keep its value as long as Polybius Bank Project is in existence and functioning. And in proportion to the bank’s growth, the token’s profitability will grow, as well as the price that it could be resold for. Seen in this light, this is an investment in the purest sense of the word: you pay in once, and from then on it works for you. We will set aside for dividends on the tokens 20% of the bank’s profits, which will be distributed depending on the investment between all the investors who took part in the ICO.\n— For all the investors who put in more than $10,000 at the beginning of the ICO, there will be a bonus of 25% more tokens. Any inquiries about this can be sent to [email protected].\n— During the first week of the ICO there will be bonuses on offer for all investors: 20% more tokens for the same price (i.e. 1.2 tokens for $10, instead of only one); in the second week 15% more; in the third, 10%; in the fourth, 5%; and from the fifth week onwards $10 will get you one token.\nAll our investors are welcome to set up their own bank account and get their own digital ID.\nWe are planning to start the ICO not later than in the end of spring. So you don’t miss out on this event, and so you manage to get tokens in the first weeks while there are still bonuses, sign up to the mailing list on our site: https://polybius.io/.",
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      "author": "rebelnutrtion",
      "body": "Very good info. I am certainly keeping an eye on this token.",
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      "author": "cheetah",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://medium.com/@PolybiusBank/what-are-polybius-tokens-and-why-should-they-be-in-every-crypto-investors-portfolio-73a813c77429",
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      "body": "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.\n\n![](https://steemitimages.com/DQmPrpV1zEdxmvNMN6jYPpguusCqEzcb7HNPgpzAdBpp7tC/image.png)\n\nBasic Facts about Polybius Tokens\n…or what you can read in the initial code of the smart-contract.\nall Polybius tokens were created before the beginning of the ICO;\neach token has a value of $10;\nin 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;\nby 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;\nnaturally, 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;\nupon 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;\nafter the ICO, it will be possible to trade the tokens on crypto-exchanges.\nFrom 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!)\nThe 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.\nBeing 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.\nWill there be distributions?\nThe 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.\nTwo important things to consider:\nWe 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.\nLet’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.\nWhy will the value of the Polybius Tokens grow?\nIn the coming year we see as a minimum three events which will positively determine the value of the token:\nThe 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.\nThe 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.\nRelease 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.\nLaunch 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”.\nStill, 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.\nTo 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.",
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      "author": "cheetah",
      "body": "Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:\nhttps://medium.com/@PolybiusBank/life-after-the-ico-how-are-things-now-at-polybius-a06225cafe6d",
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      "body": "The Polybius ICO ended on 5th July, immediately ranking among the top five largest ICOs of 2017, raising $31 million with 27,000 participants. So what has the team behind this next generation financial institution project been doing over the last three weeks, and what are Polybius’ plans for the near future? Read in this article.\n\n![](https://steemitimages.com/DQmcKSwqAtRihoaKqE8hKU7Mfvcb1T1cYKMSKoXPqbB232o/image.png)\n\nCompleted activities\nImmediately upon closure of the ICO, all surplus tokens were burned. Out of the initial 20 million PLBT (Polybius Tokens) issued, just under 4 million are left, 3,969,565. It is unfortunate, of course, that we didn’t reach a more rounded number.\nThe team spent the next few days accepting the last bank payments granting the tokens in return.\nMeanwhile, all payments received remain in their accounts, as before, allowing anyone who so wishes to check the contents of their Ethereum, Emercoin, and our bitcoin-escrow wallets.\nWhat is happening now?\nThe distribution of PLBT within the framework of the bounty campaign is coming to an end. In total, 79,391.299996 (or 2% of the total number) PLBT have been distributed as bounties for various support services provided to the project and the Polybius ICO sales.\nCurrently, there is an internal audit of the ICO underway. During the audit, our accountants will verify the tokens accrued in relation to the money received to ensure that all transactions are in good order. As the Polybius Foundation has raised more than $30 million this fiscal year, under Estonian law, it is required to undergo an obligatory accounting audit at the beginning of 2018.\nHunting, Will Hunting, where Polybius gets its bankers\nPolybius is already a popular place to work. Bankers, lawyers, security and compliance specialists, as well as cryptographers and developers, are actively providing us with their CVs.\nBut the number one question for the Polybius team right now is “what exactly is the set up of a strong banking team?” Why is this so important?\nTo establish a bank — you need to get a license.\nTo get a license — you need to get a great team together.\nTo get a great team together — you have to entice them from their current jobs.\nAnd this is where it gets fascinating!\nDuring the ICO we were often accused of appearing to lack experienced and successful bankers in the project. That was only half-true, they really were not there, but not because we did not have them.\nPolybius’ ‘Will Hunting” started long before the opening of the ICO. Of course, Polybius was nowhere near hiring bankers, but that did not stop us from getting to know highly skilled specialists who were interested in the project, many of whom declared their interest in switching to Polybius in the event of a successful ICO.\nNow that the Polybius funding targets have not only been achieved but even exceeded, the departure of bankers from mighty, but inflexible old school financial institutions has begun. However, this process takes time, from one to six months. Bankers are not people who change their jobs at the click of a button, some need to provide a month’s notice, others two, and others six.\nThe ‘Hunting’ process is ongoing — lawyers are in negotiations, drawing up employment contracts. Building the bank’s team will start from the top. The first recruits will be the CEO and senior management of the bank, and they will take the main strategic decisions, formulate the core development parameters, and then recruit the necessary staff.\nAmong the decisions to be taken will be making a final choice regarding Polybius country of jurisdiction, making arrangements with regulators and obtaining a banking license, whether that is done by starting from scratch or by purchasing an already existing bank.\nWe regard the purchase of an existing bank as our second choice regarding obtaining a banking license. We began receiving proposals of this nature before the completion of the ICO. We are looking into a Maltese bank with particular interest. However, it is important to understand that when you buy an existing bank, you also buy its entire history. As such the most rigorous checks must be carried out. For this reason, we would prefer to start from scratch and create our own bank.\nWe plan to announce the name of the Polybius CEO this fall, followed by appointments to other key positions. The Polybius team (for the time being without a bank) will then start its work.\nWhy is there no need to worry about the token price drop\nImmediately upon the listing of PLBT on several cryptocurrency exchanges on July 5, its price began to fall precipitously. It reached a low of $3.60 from a starting value of $10. However, a simple analysis shows that this has nothing to do with “panicked investors fleeing tokens for cash.” Polybius tokens have a total capitalization of ~ $18 million at current exchange rates, yet the volume of trading in PLBT rests between $100,000–150,000 per day, which is less than one percent of the total value of tokens. So what accounts for this single percent? It is most probable that it is simply a trade in tokens issued as bounties (i.e. free of charge)\nIn accordance with the above, we can see that those investors who paid real money for PLBTs did not succumb to panic selling and herd mentality. They realize that putting money into something like Polybius is a long-term investment. As such, 99% of tokens remain in their original buyers’ wallets. The token value has already begun to rise gradually, and will probably grow further following this publication. It will inevitably continue growing as more news emerge from Polybius.\nCool, you’ve been on TV!\nFor sure, HashCoins and Polybius have been inundated with various requests for help in organizing ICOs. We certainly cannot answer every one of them in detail. It is unlikely we will even be able to read all of them in full. We shall just have to select the most interesting proposals.\nAs an example of the above, after the hype regarding the success of the Polybius ICO (it should not be forgotten that the ICO has been conducted by an Estonian company, and by Estonian standards a crowdfunding campaign raising over $30 million is explosive), the heads of Estonian banks started contacting us. They invited HashCoins to give lectures and presentations on blockchains and cryptocurrencies. We have already begun visiting them and sharing our experience for free. If you represent a European bank or a major Russian bank, you are welcome to contact us by email at [email protected]. Let’s be friends!",
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      "body": "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.\n\n![](https://steemitimages.com/DQmb1bMfGkvTCTRwxdvEAecfGBfje1hvshJgAQiKxo2wZVw/image.png)\n\nAs 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.”\nSoon 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.\nThey 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.\nIn 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.\nWhat can a blockchain-bank do?\nSuccessful 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.\nPolybius’ 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.\nHe 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.\nFor 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.\nBlockchain for the future\nBlockchain 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.\nPolybius 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.\nEach 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.\nBlockchain perspectives in Russia\nIvan 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.\n“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\nThe interview has been conducted by TASS Latvia representative Evgeny Antonov",
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