Arise Bank
Arisebank is creating a decentralized banking system that will utilize the bitshares decentralized exchange to create a peer to peer banking platform.
what does this mean?
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well first and formost this means that when your money is in your bank account you are actually holding it and every penny is accounted for at all times, unlike traditional banks where if everyone wanted to pull out there money they wouldnt be able to attend to every request due to fractional lending.
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They also got crypto ATM's, Crypto debit/credit cards, and much more to come that they havent announced yet. for more information visit
https://www.arisebank.com/
one of the neatest feature I think is that they have developed a AI arbitrage trading BOT. This AI makes profit on your crypto that you hold in your arise wallet by playing arbitrage across 60+ exchanges with your holdings. from what I have been reading up on is that it will then pay you 99% of your profits every 2 days in eACO (expiring Arise coin) this is essentially free money that expires if you do not use it. What I love about this model is that it incentives you to spend the free money that was issued to your account, this creates transaction on the network which will increase the price of the ACO token because eACO and ACO share the same price. Not too sure how they tied the 2 tokens together I have to dig deeper into that but I believe the price for eACO and ACO are the same.
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Since Arisebank is using bitshares accounts as the way of facilitating peer to peer transactions without any 3rd party needing to hold funds or facilitate a transaction there is no need for special licensing inside the united states or abroad but arisebank is still buying a FDIC insured bank just to legitimize what they are doing. I expect this to dramatically increase the price of BTS also because the amount of new users that will create a BTS account will sky rocket. Arise already has Evander holyfield as there first endorsement
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They have a handful more endorsements in the works as i write this article. BLOODY WANKA this ICO is one for the books. if you want to sign up for the ICO and get your own bag of ACO heres the referal link
https://ico.arisecoin.com/?arise-ref=nickeles8
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OVERVIEW
- Arise is a peer to peer banking Platform
- they will have ATM's that you can put cash in for crypto and crypto in for cash.
- they will have debit/credit cards
- they developed a AI arbitrage bot that pays you 99% profits on your money and takes a 1% fee and redistributes that as eACO to every arisebank user every 2 days ( not 100% sure on the times frame of payout)
- they are purchasing a FDIC insured Bank
- They are partnered with Bitshares
- They will be in direct competition with Coinbase & gemeni.
- They have hall of famer's endorsing this project such as evander holyfield.
- This project is sick nasty and thats my opinion. join and #arise my peeps.
Its a very exciting time for Bitshares :)
Very excited about the bitshares project. Thanks for sharing.
I am not understanding the eACO concept. If they will disappear on a certain time so what will be there use ?? What they want to achieve by those eACO's
incentives's you to spend the coin, this produces TX fees. there is a lot of positive feed back loops you can create when you have a continuous growing fee pool. this is my understanding as to why they have this model.
I see now that baking has started accepting the baking blockchain model
its a peer to peer banking platform, they dont need acceptance by anyone.
As I understand the AI arbitrage gives you 99% back of all the profit you make, so there is only 1% fee. This fee in return will be distributed (minted) towards the holders of ACO coins, giving them eACO (which eventually disappear) and be used only inside ARISEbank. What I am more curious about is what they are supposed to be used for, and how exactly it will drive up the price of ACO. Seeing as they vanish they have no real value, so other than some automated services there could be no permanent coin/human effort to trade-in for it.
Thanks for the correction. Yeah I would like to know what kind of things eACO would be used for and in what way it will effect ACO price. Or if we can cash it out in the atms into cash and spend.
Great post. Thanks...
What is the max supply of the Arise coin?
I believe 833,333,333