What is Zero Bank ?
What is Zero Bank ?
The blossoming of blockchain technology and cryptocurrencies has inspired the pioneers of today. These technologies have opened previously locked doors, one of which led to the creation of new currencies. These novel currencies are unlike any we have ever seen, and they are set by history in a unique position to change the world economy — to be accepted as a means of payment, capable of trade and transfer across borders (bypassing governments and central banks), all while being completely secure and hassle-free. So far, although cryptocurrencies have substantially impacted the global econo-my, no cryptocurrencies are widely recognized as “money” per se. It will take more time for these brand new markets to stabilize, and for the pioneers of this sophisticated field to figure out how to compete with entrenched fiat currencies.
Why ZeroBank?
How ZeroBank Works The money transfer and exchange industry is not immune to the global movement towards decentralization and peer-to-peer sharing economies. In fact, these areas are poised to be some on the leading edge of those that thrive in this new paradigm. With the help of blockchain and smart contract technologies, along with the sharing economy model,
ZeroBank will disrupt the outdated transfer and exchange models centralized around “too-big-to-fail” banking and MTO systems by bringing out a “money barter” model fit right in the current position of world money market.
Instead of attempting to create a substantial new currency per se, ZeroBank utilizes the power of blockchain to create ZeroBank tokens acting as the collateral instruments of money transfers and conversions. Blockchain technology allows these tokens to transfer securely in a verifiable and permanent way along an open, distributed global ledger, bypassing all banking systems or centralized organizations. Thus, rather than moving cash through any banks or MTOs, ZeroBank uses these “money barter” tokens as a means of moving value from one place/one currency to another, while achieving the lowest negotiable costs for users (apparently no foreign exchange spreads, only service fees).
In the first phase, ZeroBank tokens (ZB tokens) will be distributed to ZeroBank crowd-funders, who can also become ZeroBank agents once the system goes into operation. These tokens will be used as the collateral instruments for ZeroBank agents to make money transfer and exchange transactions and earn from the service they provide. A ZeroBank agent can make transactions with values equal to or less than the value of all of the ZB tokens he processes. Individuals wanting to become a ZeroBank agent in the later phases can either buy ZB tokens in the system’s reserve, or from any exchanges where the token is listed.
These tokens will enable the ZeroBank system to work the same way the renowned Hawala system does, where money is transferred via a network of agents — the Hawaladars — without actually moving money around. The difference is that the Hawala system is an honor system relying entirely on trust and extensive use of connections, while the ZeroBank
system utilizes smart contract technology, combined with other advanced and proven security technologies, to give our agents the ability to make secure and verifiable transactions.
How ZeroBank System works?
The money transfer and exchange industry is not immune to the global movement towards decentralization and peer-to-peer sharing economies. In fact, these areas are poised to be some on the leading edge of those that thrive in this new paradigm. With the help of blockchain and smart contract technologies, along with the sharing economy model, ZeroBank will disrupt the outdated transfer and exchange models centralized around “too-big-to-fail” banking and MTO systems by bringing out a “money barter” model fit right in the current position of world money market.
Money Transfer & Exchange Industry
Events
ZEROBANK SPONSORS “BLOCKCHAIN FORUM”
We are delighted to share that ZeroBank is sponsoring “Blockchain Forum — Vision and Development” taking placed in JW Marriott Hotel, Hanoi, Vietnam
KOREA BLOCKCHAIN SUMMIT 2018
Korea Blockchain Summit 2018. Of course, Zerobank will not miss the opportunity to meet and share our products and services to the South Korean community. Come to our booth to sharpen your understanding about “Your Local Currency.”
BLOCKCHAIN SUMMIT LONDON
London Summit last year was spectacularly successful and attracted thousands of investors and exhibitors. This year, Zerobank is honored to be one of Silver sponsors for such a prestigious event. Please come and join our booth to understand more our project and Core Team have a chance to win many special lucky draws on 26th — 27th June, 2018 at Olympia, London.
Core Team
