Expert Coin

European Crypto Bank ICO

Banking & Trading Platform Project
4.1
Total score
Category:cryptocurrencyinternetlegalplatformbankingartificial-intelligence

Detailed evaluation of the project

4
Product
5
Business Plan
3
Marketing Strategy
5
Team
3
The Vision
of the Market
5
Understanding of the Target Audience
4
Competitive Advantage
Basic expert assessment of the project European Crypto Bank ICO

Product

European Crypto Bank (ECB) is building the first bank and trading platform to secure investments on the market of cryptocurrencies (Bitcoin, Litecoin, Ethereum, Ripple, Dash etc) on the blockchain. This is a cryptocurrencies trading platform, financial analysis on cryptos, tokens and tax assistance. There are a wide set of services on platform: leverages, tax, consulting, legal support, ICO ratings, robots-advisers (AI), a manual for beginners, a lawyer network on the blockchain.

The founders of the project believe that the main need for crypto – assets oweners is tax and legal support, reliable protection against problems with national fiscal authorities. The platform allows you to legally trade cryptocurrencies, withdraw them to traditional assets without suspicion of money laundering. KYC and AML software will be implemented into the platform.

A versatile product that provides everything needed for owners of crypto assets. The platform is literally stuffed with useful services. But it may also be a weakness of the product. Perhaps the founders of the project should concentrate on 2-3 main directions.

Business Plan

The project is announced on a huge scale by the standards of ICO-industry. Soft cap is € 5 million and a hard cap is 200 million euros.

The funds received during ICO will be distributed in a very correct proportion. The balance of expenses looks very reasonable. There are costs for development, marketing, back and middle offices, legal support and fund deposit.

The development of the ECB project started in September 2017, and on June 1st, 2018, the platform will be officially launched in Beta Version, equipped with a Payment Gateway, a Cryptocurrency Exchange, Merchant Listing and a Market Cap Listing.

European Crypto Bank will earn on the following services: Trading and Exchange fees, Wealth Management into Cryptocurrencies and other traditional assets, Fees for Tax Reporting and Crypto Research and another fees for different services.

An interesting feature of the project is that tokens are not only means of payment within the platform.  Token I for investors will be the subject of a buy back from the ECB for 6% of its turnorver each year they don't give any rights on services. Owner of Token S, will have 5% of additional tokens each year, Token S give rights on our services on financial research, Tax reporting, tax advices and tax education.

The cost of tokens will grow due to the growth of business volumes.

Marketing Strategy

Stated purpose is to become a fully regulated CryptoBank, over the next 4 years in Europe, by creating a gateway between cryptocurrencies owners and all traditional assets. By December 2018, the ECB has set a target of 5 million customers and by the end of 2019 – 11 million customers.

A detailed plan of marketing activities in the White Paper is not described. The following marketing promotion methods are mentioned: special offer for new customers, media (underground, newspapers, TV), SEO & Adwords’ (European communication on Google and social networks), press & articles (financial and eco-crypto reviews), roadshow, affiliate programs.

The founders of the project rely too much on the growth of crypto assets market. They should have worked out a marketing strategy in more detail.

Team

ECB is based on existing business.  EUROPEAN CRYPTO BANK is a joint venture between: FORGUES GESTION SAS FRANCE started in 2009 in Finance, Asset and Wealth Management in France, FORGUES GESTION UK LIMITED started in 2014 in Finance, Asset and Wealth Management in United Kingdom and WOOSPEAK started in 2007 in Language training and Translation in Europe and WOOSPEAK Italia in 2015. The team is staffed with highly experienced specialists in fintech, blockchain, big data, AI and operating.

The Vision of the Market

The founders of the project rely on the fact that crypto asset market is expanding rapidly, while the need for reliable and legal methods of trading and exchange of crypto assets remains unmet. There are about 10 competitors mentioned in the White Paper, but detailed analysis of the market, its capacity and share of competitors was not carried out.

Understanding the Target Audience

The founders of the project understand their target audience quite well. On the one hand, there is now a huge interest in crypto assets market. But on the other hand, there are many unresolved problems. People want to invest in a secure and a confident market, be well advised and obtain responses about their financial situation and their fiscal locality. Interestingly, services will be offered not only to private individual but also to legal entities.

Competitive Advantage

The project has several strong advantages: transparency and legality of operations with crypto assets. The project is not a new startup entirely; it is based on the existing business. ECB intends to compete through its Premium services: Tax Reporting, Juridical Assistance, Financial Analysis and Advices, as well as the global scale of the project.

Description of the project European Crypto Bank ICO

European Crypto bank will start the Trading and Exchange Platform in London (UK). Despite the Brexit, London still remains the main financial center in the European Landscape, The ECB Research and Innovation Center will be based in Paris (France) for French Public Funding reasons (subventions). The Global Tax Department will be located in Milan (Italy).

The access to the ICO Market can offer us a unique opportunity to realize an ambitious and scalable Project of Investment. Funds will be managed by a Financial and Compliant Team, as to offer a follow up quality, Tax Advisory, Anticipation of the Risks with IA tools for Anti-Money Laundering (AML), KYC, Wealth and Asset Management.

The main problem for crypto investors is how to convert their crypto portofolios into all traditional assets, while facing a bank system that really appears hostile and unfriendly, towards the Crypto Eco-Sphere. ECB is determined in responding to this massive problem properly, by offering a secure trading multilingual exchange platform, by using our existing KYC and AML software (used over the last 9 years in our Wealth Management Business, by offering Tax Reporting for National Domestic Tax Revenue Services : France, Italy, Germany).

With ECB, anyone in the world should be proud to have made some money on a Crypto Exchange. We believe we have a place in the Crypto World with a revolutionary offer, such as a Crypto Private Bank with all services that are supposed to be provided by a traditional private bank. This is a preliminary Business Plan from European Crypto Bank (ECB, a company registered and incorporated in London in July 2014, with the partnership of Forgues Gestion SAS, a company incorporated in Paris in April 2009 and Woospeak Italia incorporated in Milan in July 2015. This new plan starts from Year 2018, and is intentionally formatted as a Pitch Deck, due to the very first stage of the Project's Business Planning.

In case of a successful raised token , our Research Laboratory will be located in Paris and the Tax Assistance Department will be located in Milan, whilst the Trading Platform and Exchange will take place in London. The Main Operating Center will be located in London, as well. European Crypto Bank Limited, Forgues Gestion France, and Woospeak Italia will merge in one pan-european company, only.

Welcome to a new financial area, we are changing our world into something new, clean and secured for all european citizens.

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