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Upon the development of the first online banks back in 2007, the scope was to target a defined clientele and provide the people with an complete 100% online experience. The neobank landscape of today, or the “mobile banking system of the next generation” spreads wildly at global scale in terms of usage. In spite of several attempts at disrupting the system, the unstable ergonomics, lack of user experience on mobile, and aggressive pricing seem to compel customers to look for an exit point.
Blockchain technology has proven its ability to challenge the status quo of neobanks. However, following the recent events in South Korea – where cryptocurrency trading is allowed provided the banks share the user data – it looks like major credit card companies like Discover and Capital One are denying customers to use their cards on cryptocurrency exchanges.
To put financial freedom back into the hands of the people and come up with an alternative to existing neobanks, a new project enters the scene with a premium business model that is participative, regulated, tokenized, and crypto-compatible.
On the verge to tokenizing the neobanking ecosystem
Built on the Ethereum Blockchain, Hush aims to adopt the smart contract ERC20 interface to develop a tokenized, cryptocurrency-enabled neobanking ecosystem driven by the community. The end goal is to provide a regulated environment where cryptocurrencies and fiat money can be exchanged, traded and withdrawn on the same platform. Made up of experts with a proven track record in the banking system, Hush seeks to simplify usage and disposal services concerning cryptocurrencies.
The platform will work as a one-stop-shop for both fiat and crypto transactions. On the Hush platform, cryptocurrencies holders can have their coins stored in a secured wallet; based on their needs, they can exchange their coins at any time of the day into Euros without exiting Hush. When engaging in transfering, windrawing or trading activities, users will benefit from complete control of their funds, whether cryptocurrencies or fiat money.
To fulfil its mission and become a participative, regulated, and cryptocurrency-compatible bank, the Blockchain-based platform welcomes its active user community to participate in the co-creating process of the first tokenized neobank. Throughout the development process, holders of USH tokens can suggest new features to be added, as well as discuss interfaces.
A regulated use of cryptocurrency with USH token
USH will be the official token of Hush. As a financial lever and community token, its goal is to enable active allow to reap the benefits of simplified crypto-money usage; as well as benefit from a decentralized neobanking experience. USH will be positioned at the heart of the user experience, acting as the project’s participative and contributive voice.
Users can purchase USH tokens to perform several activities on Hush, such as pay for services and receive a 50 percent discount on commissions, get in loyalty rewards, or enroll in the Hush Ambassador program and take advantage of the 3 available reward formats: USH tokens for their participation in specified activities, badges based of cumulative points and amount of USH held, or new badge acquisition.
The Hush team
Founder of the French neobank Morning, Eric Charpentier is the visionary behind the Hush project. His experience in banking and vast knowledge of the financial ecosystem, are the core contributors to the development of the next-generation neobank powered by Blockchain. With Hush, Eric and his team are looking to challenge the way neobanks are perceived today by dirsupting the current model with a tokenized open-banking platform focused on catering to the needs and wants of the people.
After the ICO, Hush will be able to apply for a banking license from a payment institution in a euro area country to install its model across Europe.
Premium payment cards, a real-time exchange app, next-generation banking, IBAN accounts, and crypto-wallets are several key objectives the platform is seeking to fulfill upon successful completion of its coin offering.
The Hush Pre-ICO ends on Feb.11, the price for 1 USH being 0.70€. The initial three cryptocurrencies available on the platform will be Bitcoin, Dash, and Ether.
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The post Blockchain-Based Project Aims to Develop a Neobank 2.0 appeared first on Crypto Currency Online.
source https://cryptocurrencyonline.co/blockchain-based-project-aims-to-develop-a-neobank-2-0/
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