polybius bank (PLBT tokens)

What are Polybius tokens and why should they be in every crypto-investor’s portfolio?
Perhaps you’ve already heard of the ongoing Polybius ICO. Indeed maybe you even know what an ICO is: a crowdfunding model where the project releases tokens for sale, giving the buyer a number of privileges. We needn’t look far for examples: Polybius tokens provide the holders with a fraction of the company earnings, 20% of which go to the owners. Essentially, a token is a smart-contract. In the case of Polybius, the tokens are smart-contracts in Ethereum. Of course, smart-contracts can be written in more than just Ethereum but it is the most popular, most famous, and widely trusted option. Therefore, the choice was not difficult.
Basic Facts about Polybius Tokens
…or what you can read in the initial code of the smart-contract.
• all Polybius tokens were created before the beginning of the ICO;
• each token has a value of $10;
• in the first 48 hours of the ICO tokens were sold with a 25% bonus, after which the bonus was reduced by 5% each successive week;
• by the end of the ICO the number of sold tokens will be considered 93% of all tokens. 5% will go to the founders of the Polybius project, and the remaining 2% will go out as a bounty reward to those who supported the ICO;
• naturally, the quantity of tokens is limited: there will be all of 20 million. This means that the fundraising ceiling for the ICO minus the portion set aside for the founders, the bounties, and bonuses, can not total more than $180 million. Even if on the last day of distribution Richard Branson shows up on a resplendent white yacht packed stern to bow with cash, we wouldn’t be able to sell him any more;
• upon completion of the ICO, unsold and undistributed tokens will be destroyed. The release of new tokens will not be possible as per the conditions of the smart contract;
• after the ICO, it will be possible to trade the tokens on crypto-exchanges.
From the perspective of cryptoportfolio composition, Polybius tokens are unique, first of all because they are supported by a project not within the crypto-world. Certainly, we call Polybius a cryptobank and blockchain bank, which is true, but this merely relates to the internal workings of the future bank. The facade will be one of a respectable universal bank, which can accommodate a cutting-edge crypto-startup from Zug, just as well as it can handle the life savings of an elderly Frau from Dresden. In both cases the money — fiat currency — will guarantee the value of the token as long as the bank Polybius itself exists. (Long may it live!)
The future bank’s earnings in fiat currency make the token more predictable. Cryptocurrencies by their nature tend to be rather volatile. We needn’t search long for examples: the insane growth of Ethereum from the time people learned that Polybius tokens were to be released in it, on one hand, and on the other hand, the profound failure of Bitcoin in recent days, which cost us about $2 million after we reported our passing of the $20 million mark. Don’t worry. We knew what we were getting into.
Being backed-up by fiat currency, but in fact being a crypto-product, Polybius tokens occupy two realms, and we like to believe they possess the best elements of both worlds. This makes them unique, and we would even say a ‘must-have’ for any balanced investment portfolio.
Will there be distributions?
The question of the month, which we answer every day: how can tokenholders know that even after the operational earnings it would begin to pay out dividends? It’s simple, really: according to the conditions of the ICO, payouts to tokenholders are directly connected to the earnings of the Polybius project. Everything is totally transparent. Reports on the bank’s financial state will be released at least annually but probably even more often because in Europe they’re very strict with accountability. At the end of every fiscal year profits will be fixed after calculating all expenditures and payment of all taxes 20% will be payed out to token holders. In this way, every year, when we have our earnings, tokenholders will have their dividends.
Two important things to consider:
• We regard the tokenholders as key members of the project. Tokens will be held by both the general public as well as the founders and key managers of Polybius. Our plan for the management of earnings takes the following form: 20% goes to the tokenholders, 80% will get reinvested into the development of the project. In this way, the owners and management of Polybius will receive the same dividends as those who participated in the ICO.
• Let’s not forget that the primary value of any ICO lies in the tokens themselves. They have their own value, $10 at the moment of distribution. Upon completion of the ICO, tokens will be added to the list of the largest crypto-exchanges, where it will begin its own life dependent only on the news and success of Polybius. As the bank grows, so will the value of the tokens.
Why will the value of the Polybius Tokens grow?
In the coming year we see as a minimum three events which will positively determine the value of the token:
• The completion of the ICO and release onto the american market. Right now, American fiscal legislation does not allow citizens of the United States to participate in ICO’s. One of the biggest law firms in the world, Hogan Lovells, in consulting with us recommended to restrict sales to American residents. Now, everyone who registers on polybius.io sees a strict warning, stating that American citizens are not allowed to take part in the ICO. Of course, this lowered the amount that we could have potentially raised, but this works in the tokenholders favor. After the release onto the crypto-market, citizens of every country will have the opportunity to purchase tokens without restrictions, and we expect that the Americans will immediately raise the value of PLBT.
• The launch of the Digital Pass prototype. Even to this day, we haven’t spoken enough about this idea. However, once the sum needed for its development and launch is collected, we will correct this. The digital passport under the working name Digital Pass is an instrument for the access and control of sensitive personal information in blockchain. Its goal is to reliably and securely remove the need for paper documents and personal presence of the user in contact with government and private entities. This gives the opportunity to remotely receive financial, medical, and other services which traditionally require a personal visit, the presentation of original documents, and/or signatures in person, as well as receive services previously only available to residents of a given country. Now, we’re speaking about European countries, regardless of how tightly the European Union countries are connected, even now there isn’t a unified, centralized credit history, or medical insurance database, thus a citizen of one country in the European Union can not receive credit or medical insurance on adequate conditions. In the future, Polybius and our trusted partners, such as credit agencies, will confirm the authenticity of the information introduced by the user (that is, he is who he says he is), and blockchain in the core of Digital Pass guarantees protection against distortion, falsification, or deletion of material. We plan to roll out a beta-version in 2017 and this event will certainly spur interest in the project and, it would follow, the value of PLBT.
• Release onto new, large, exchanges. Right now the list of future platforms on which one will be able to trade PLBT include litebit.eu, btc-alpha.com, c-cex.com, livecoin.net, spacebtc.com, cryptodao.com, and bittylicious.com. We plan to release onto even bigger exchanges and we calculate that each such announcement will pull the value of PLBT upward.
• Launch of the bank. The receipt of a license a single European country can take from 4 to 24 months. When this happens, the owners of Polybius tokens will celebrate a sudden jump in value, and the rest will look on in envy and lament that they didn’t get in on it when the tokens “only went for $10”.
Still, we do not recommend that you hurry to resell your tokens. The most interesting part will be after the launch of the bank itself, key products, and the payout of dividends. That is when PLBT will really start to take off. Until then, it’s better to be patient.
To invest in Polybius tokens while they are still $10, you can participate in the ICO right now! Until June 21 the tokens are being sold with a 10% bonus. At the moment the ICO has raised the equivalent of $21 million.