European Crypto Bank ICO Review – Let’s Build the Cryptobank of the Future

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The use of virtual currency is the things that need to be anticipated. The current financial system has metamorphosed so quickly and has abandoned conventional or old school methods in its operations. Beginning with money laundering patterns through cash transactions, then changed to more sophisticated with the inclusion of information technology.

Until now, there is a tendency to enter the peer to peer transaction era in a particular ecosystem, it is considered more profitable for the perpetrators of transactions but make money laundering typology becomes increasingly complex and hidden and undetected.

Many companies produce and sell their goods/services using a TBML (trade-based money laundering) scheme. That is, they prefer to receive payment with cryptocurrency. This digital currency is very popular today because it can be used to transfer money anonymously overseas to avoid overseeing a country’s financial institutions.

What is European Crypto Bank?

European Crypto Bank will be a pioneer in providing legal and secure digital banking services. The digital bank will use Anti-Money Laundering (AML) system. This system is created and developed in order to work as well as banking in general. The European Crypto Bank will exercise full oversight on each user and the transactions they undertake in a decentralized manner.

Lack of supervision over the use of cryptocurrency increases the likelihood of abuse of digital currency. Most blockchain-based businesses that use cryptocurrency can easily transact quickly and in unlimited amounts without supervision get supervision from financial regulatory agencies or other authorities.

European Crypto Bank wants to give something different. The AML system will automatically limit the number of coins that can be used in a single transaction. AML may also send messages to the authorities to participate in overseeing suspicious transactions or users.

In addition, another problem encountered by cryptocurrency users is the unstable value of the coins. This is caused by many things and one of them is due to the absence of a controller (regulated bank) in the world of cryptocurrency. The European Crypto Bank wants to be a regulator of digital currency exchange rates. The European Crypto Bank will cooperate with several parties to enable cryptocurrency to gain recognition and legality on a larger scale.

It certainly takes a long process. The blockchain is known to have the ability to minimize surveillance, but also to promote transparency. The European Crypto Bank wants to create a decentralized, controlled decentralized ecosystem, and gain control.

How Does European Crypto Bank Work?

The European Crypto Bank wants to create an ecosystem that can increase public confidence in blockchain and cryptocurrency. This is one way the European Crypto Bank does to improve the stability of the cryptocurrency exchange rate and minimize the misuse of the digital currency.

The European Crypto Bank will work with several blockchain-based companies to engage the bank in any transactions. During this transaction is mostly done through the peer-to-peer system. This is a very popular system used in the blockchain ecosystem.

This system can indeed cut transaction costs, but also susceptible to misuse for illicit transactions and money laundering. The European Crypto Bank will not buy data from its counterparts, the bank simply wants to position itself as a supervisor; supervisors who oversee the transaction. The European Crypto Bank does not have the authority to exercise control over its users. Monitoring of users will be submitted to the parties that have the authority to do so.


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