Steps toward becoming a bank for the blockchain era

Next week, the Banker token will be listed on the HitBTC exchange and Bankera will enter a new stage of its lifecycle. Hence, we would like to remind you of our vision and attitude towards our goals. First of all, we always try to choose the right way, which is usually the hard way. The BNK token was not an exception, as it is one of a few tokens sharing net transactional revenue with its holders. There were no relevant smart contract examples in existence, so we had to develop it in-house.

Roadmap

Before launching the BNK, it was mandatory for us to have full support of the BNK token at SpectroCoin. To do this, our IT team had to enable the ERC20/ERC223 token support at SpectroCoin. As a result, our clients will be able to use a number of ERC20/ERC223 assets as well as currently offered cryptocurrencies, to load their cards, exchange or as payment options through our merchant solutions.

The BNK smart contract development was not an easy task to accomplish, but the audit phase demanded even more of our attention. To avoid any potential vulnerabilities in our smart contract, we have done an extensive process of auditing. After four stages of internal and external audits, we are now confident about the stability and security of our contract. So, let’s talk about Bankera’s ecosystem and its parts.

Bankera’s Ecosystem

Cryptocurrency businesses involve a life of constant changes. The crypto market is very volatile, not only because of prices, but because of constantly changing partnership relations – one partner ceases to exist, other potential partners start to offer better conditions, etc. Developments and products that were relevant and functional 6 months ago, sometimes become worthless in a day. That is why we are building Bankera’s ecosystem with two core pillars. SpectroCoin is a product focused on providing an easy and quick usage of cryptocurrencies as payment options. Among them, cards have always been one of our clients’ favorite products, hence, we see them as a top priority. We are happy to announce that soon, we will provide news regarding our card for previous and future card holders.

Nevertheless, our MVP SpectroCoin is not only a “cash-cow”, but an investment for the future – the improvements done so far, such as re-enabling cards, supporting more cryptocurrencies and ERC20/ERC223 tokens, will work as building blocks of other Bankera’s products through most of its technological solutions.

Bankera’s exchange will be a gateway for liquidity and fair cryptocurrency prices for other products such as wallets, loan services and investment products. As in cryptocurrency businesses security and stability come first, we have to be extremely confident about it before going live, which is why the platform development is taking longer than expected. We plan to have it live in several months.

By having Bankera’s exchange and wallet, we will be be able to provide a solution on low-cost trading, which will be helped with the leveraging of SpectroCoin’s technology. Thus, it will be possible for Bankera to offer an easy way to use current accounts and other banking services. We are also working on additional products focused on loans and investments, which will be add-ons to the core pillars. These schemes are already in motion and they will be the next milestone to reach after the launch of Bankera’s exchange.

Another crucial thing we are actively working on is securing partnerships that will enable us to speed and scale up our products. A strong network of partners will help providing a wider variety of services and products for even bigger audiences. However, confidentiality and non-disclosure agreements are mandatory in this market if we want to stay competitive and ahead of others. Therefore, a lot of work and development are not visible for the community’s eyes, even though they have been happening during the past year. Next week we will finally be able to reveal a major partnership which will allow Bankera to provide traditional payment solutions. We are also working with a number of leading payment and IT service providers to expand the spectrum of products offered in our platforms.

Our growth

We are also very happy to inform that in recent months we have acquired new talents to strengthen our team. To do this, we have built a strong HR team who has managed to hire some top professionals to join our IT, Design and Legal departments. In the upcoming weeks we will announce some of the great additions to our team.

We are creating value not through hype or empty promises, but by actual deliverables, so we will provide more information about products on traditional payments, loans and investments as we approach their release. Stay tuned, more news are coming at the start of the next week!

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