Early in its appearance, Blockchain was feared by banks and other financial institutions. Now, he is more considered a friend than an opponent.
After Blockchain technology is no longer attached to Bitcoin transactions, it can be used for many things including banking. One of the big impact banks will encounter when Blockchain is completely adapted by many banks, is the disruption in a number of jobs, especially in the back office. And now Banks are aware that Blockchain is challenging their traditional business model. The function of banks in the case of exchange brokers becomes unnecessary when Blockchain arises and develops. That is why it is necessary to note the regulators around the world.
In the digital age, communication is very practical. Humans no longer need to wait for days to get an email reply (email). In addition to emails, phones, video calls, short messages, pictures, videos, everything can be sent directly from A to B without any time difference at all, no matter the distance between the two. This happens because of the technological sophistication that not only cuts the time but also the intermediary of communication-like the post-office-which now seems no longer relevant.
Today, the post office now serves more as an inter-goods provider than a mail service broker. Similar developments also occur in the world of financial services. To be able to transfer from A to B, a person needs a financial institution, such as a bank as an intermediary. But beyond that, there is Blockchain as an alternative.
Born in 2009, Blockchain technology was created to remodel the circulation scheme. By the way, transactions between A and B can occur without intermediaries, in a shorter time, cheaper, and even much more secure, than transactions offered by banks or other similar institutions.
Blockchain, Technology That At first Makes Banks be afraid, now Banking is beginning to glance at Blockchain as a “friend” in the financial business.
Banks lose the chance to gain profit in the market by ignoring the fact that the cryptocurrency market alone is worth billions of USD. In order to be relevant, banks need to adapt to the new financial situation and start accepting their customers who use cryptocurrency just as they accept other forms of financial wealth. To provide a secure decentralized crypto asset system that can build hundreds of collateral storage platforms, a Depository Network is created and be built for solving all of the above problems.
Depository Network is a safe, decentralized depository service for banks and other money-lending institutions, allowing them to accept digital assets as loan collateral. This service enables digital asset holders to enable the value of their assets by allowing them to unlock their financial value.
The Depository Network’s project has a team of extremely experienced professionals – a combination of serial entrepreneurs, start-up investors, bankers, private enforcement agents, lawyers, blockchain experts, and IT wonderkids from Europe.
Depository Network is a B2B model, therefore we do not market our platform to individuals. Once a customer has been approved to receive a loan by depositing their digital assets as collateral, the bank or the lending institution will use Depository Network to store these digital assets. This deposit will be held by a “multisig” (multi-signature) wallet, where the lender, the borrower, and the depository service each hold ⅓ of the key. The target users are more than 17,500 banks all over the world and over 30,000 non-bank lenders and Peer-to-Peer lending platforms.
The project has a roadmap explaining the stages of our development. At the moment, they are in preparations for collecting funds for our project and issuing the DEPO token. In order to help them, you can join their ICO by applying here. The price of 1 DEPO token throughout the token sale will be as follows:
Presale: 0,005 USD
ICO first stage: 0.01 USD
ICO second stage: 0.015 USD
ICO third stage: 0.02 USD
Name: Depository Network Token
Token Symbol: DEPO
Maximum token supply: 3 billion tokens.
Token for Sale: 50% of the tokens (1.5 billion tokens).
Contract address: 0x89cbeAC5E8A13F0Ebb4C74fAdFC69bE81A501106
Accepting: BTC, ETH, LTC, BCN, BTG
Minimum investment: 50 USD
Soft cap: 2,600,000 USD
Hard cap: 15,000,000 USD
Restricted areas: USA, Canada, China
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