Bankera is a new project that wants to build a bank especially designed for the blockchain revolution. The team wants to use the blockchain to decentralize the banking industry and to reduce the number of counterparties, which will be translated in lower fees for customers.
While the idea of this project is not entirely new, and the word bank puts us a bit on guard, the team behind the project have created Bankera as a next step in the grand scheme of things. According to the whitepaper, the founders have created an operational cryptocurrency exchange, a wallet and a debit card and payment processor which is called SpectroCoin.
In the past year, the creators of SpectroCoin have launched financial products similar to the ones we see in traditional banking, like debit cards, international bank account numbers and payment processors. But why is this relevant to Bankera?
The team explained in the whitepaper that with the creation of the new project they would create an operational fork. Meaning that the team will continue focusing on growing SpectroCoin regarding exchange services, but also they will start focusing on banking solutions for cryptocurrencies.
Building a bank?
Many payment systems based on blockchain have started from the idea of peer-to-peer. Bankera, however, aims to build a bank on the blockchain. As centralized as it might sound, when analyzing the psychology of the consumer, we can see that he will always need money, no matter if the currency is crypto or fiat. We can assume that Bankera identified this aspect too.
Bankera bank will offer the following services:
- NEW TYPES OF MONEY;
- LOANS AND SAVINGS;
While the crypto evangelists are pounding their chests screaming for decentralization in the financial sector, we have to agree that fiat money will not disappear in the near future. The Bankera team identified this truth and explained that fiat money is vital for developing the blockchain sector; however, this does not mean that the new payment systems cannot be extended, improved and adopted as a secure alternative for the moment.
According to the whitepaper, Bankera wants to create essential partnerships which will enable the future “blockchain bank” to provide cash deposits and withdrawals. Besides that, it will focus on establishing a network of agents. Meaning that in some “countries where infrastructure to handle deposits and withdrawals is not established (such as South America), Bankera will offer relevant retailers (such as newsagents or gas stations) the ability to be agents for Bankera to handle deposits and withdrawals.”
And payment cards which will be used globally at any ATM to withdraw cash.
In the future Bankera wants to offer wallets for 22 fiat currencies, covering all the major currencies such as USD, EUR, and GBP.