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Blockchain News | FOTON all set to launch All-in-One Crypto Banking Service

FOTON

The FOTON project is all set to launch a next-gen crypto bank ecosystem which will  facilitate and stimulate the use of crypto payments globally. The All-in-one crypto banking service is designed for multi-currency transactions highlighting a built-in-fiat and crypto exchange system.

The Project also offers immediate contactless payments for services and goods globally to build a flexible and stable ecosystem. This system will improve scalability for all the services namely cards, exchange solutions, accounting, customer/business services, and financial assets.

The development of digital currencies and blockchain technologies has portended a new era of financial infrastructure advent and freedom as major tech firms let millions of individuals avoid traditional banking barriers. These technologies solve some of the common problems of the modern banking system and the application of digital currencies in daily life.

FOTON project was created as a wholesome infrastructure with an interbank ecosystem and intermediary-free crypto exchange powered by the decentralized blockchain technology merging customer and finance service processes. And it offers understandable and simple cryptocurrency instruments with secure transactions and minimal fees via smart contracts.

According to the official press release, the ecosystem is built to manage many social and financial institutions via a decentralized registry and provide customers with a variety of tools, that include contactless, NFC and QR payments, crypto and deposit wallet services. And the performance of the FOTON network is predicted to be 250-500 transactions a second with an intention to increase post the full-scale stress trial.

FOTON’s main aim is to build a flexible and stable ecosystem which will improve the scalability for all the financial services and is planned to improve the speed of fiat-to-crypto exchanges at the same time ensuring the secure payments for services and products. The firm intends to reach its goals of solving the traditional banking problems by letting the customers operate directly with the cryptocurrency bank of their choice, by setting a 0.5 percent of the commission of the payment amount.

From the CEO’s Desk

Andrey Pashkevich, the Co-founder and CEO of FOTON said that they are developing an ecosystem which will prove to be the basis and the strength of the cryptocurrency market requirements to make the effective transition in becoming the next worldwide banking system.

The FOTON project plans to carry out the first sale of its internal FTN token beginning with the pre-ICO stage launch on November 25, this year, to the main Initial Coin Offering (ICO) event that is scheduled for February 1 to March 27, next year.

The team of the project is depending on an extensive roadmap that consists of a series of vital milestones that include the full launch of the system, operations licensing and migration to mining pools next year and the launch of neural networks by 2020. As of now the project MVP is ready and is moving ahead with the execution of its main plans.

 

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