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MCV-CAP: Combining traditional banking with blockchain



Cryptocurrencies and blockchain technology have the potential to completely disrupt our financial and economic systems, giving people all over the world access to more financial freedom. However, for these technologies to reach their potential, they must be made more accessible to everyone.

MCV-CAP is combining traditional banking functions with blockchain technology and cryptocurrencies to establish a platform where people can easily exchange their fiat money for cryptocurrencies and spend crypto on everyday items.

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MCV plans to launch an ICO on July 20th.  The funds raised via their ICO will be used to establish and fund BCB4U bank, an online bank that will offer a hybrid of traditional banking and blockchain technology services.

Users will get all the benefits of SEPA (single euro payments area) banking services, including transfers, collection and standing-orders, debit and credit cards, wealth management, loans, investments, and more.

In addition, MCV’s blockchain technology integration will enable real-time payments, free transacting, high levels of anonymity, and additional security.

The BCB4U coin

MCV’s mission is to make cryptocurrencies more useful for people’s everyday needs, whether that is purchasing items at a grocery store or paying the rent.

To achieve this, MCV’s online bank – BCB4U utilizes blockchain technology to produce its own token – the BCB4U coin.

BCB4U coins provide a range of benefits for banks and users making transactions:

Security: Transaction data is encrypted and decentralized to reduce the risk of hacking and maintain privacy.

Scalability: BCB4U is an ERC20 token that is built on top of the Ethereum blockchain, enabling the platform to take advantage of all of Ethereum’s scaling solutions (Sharding, Raiden network, Plasma, etc.).

Simplicity: Users can seamlessly use cryptocurrencies with a debit or credit card without needing to be highly experienced in the blockchain technology.

Impairment Proof: The BCB4U coin is used as a currency for the BCB4U bank. It is also a loyalty coin for products, crypto-currency transactions, and debit and credit card payments.

The team expects millions of daily transactions to be executed via the BCB40 coin, making it potentially one of the most used and in demand cryptocurrencies in the world.

Configurability: BCB4U coin can be applied to smart contracts that can be configured to the particular lenders or borrower’s needs.

Immutability: Transactions made on the blockchain cannot be tampered with, therefore maintaining trust and security.

Privacy: Users can choose to transact BCB4U coin with a high-level of anonymity (within the legal framework set forth by regulatory banking institutions).

Business applications: BCB4U coins are linked to a variety of business applications for lending, borrowing, wealth management, insurance, and payments.

Challenges and Solutions

Today, traditional banks face a variety of challenges that make them unable to service the maximum amount of people:

Authentication of identity and reputation

Traditional Banks rely on rating agencies and data analysts to develop a risk profile for borrowers. These services act as intermediaries that make the lending process more expensive for banks, and less accessible for borrowers who are unbanked or don’t have a strong credit score. With blockchain technology, smart contracts enable loans to be conducted on a peer-to-peer basis. These loans can be processed and repaid automatically and securely, removing the need for intermediaries. Reputation scores can also be implemented on the blockchain based on the lending/borrowing activity of the user.

KYC

Currently, the average bank spends $60million annually in KYC (know your customer) and AML (anti-money laundering) compliance costs.

Digital identities can be formed, securely maintained, and made accessible to all relevant parties on the blockchain, significantly reducing the costs of KYC and AML compliance for banks. The visibility of blockchain transactions also helps prevent fraud.

Payment System

Settlements or transfers taking place between banks can normally take days to confirm due to KYC/AML compliance and the amount of data sharing that needs to take place between centralized institutions. The Blockchain technology provides a shared ledger for senders and recipients to transfer tokens back and forth more efficiently.

Insurance

The insurance industry relies on processes for calculating risk that are outdated and lack transparency. Blockchain technology enables insurance claims to be more thoroughly and fairly investigated using a transparent system for risk calculation.

The Token

MCV is developing 2 tokens: MCV token and BCB4U coin. MCV Tokens are vouchers for future BCB4U Coins, which will be provided after the ICO.

BCB4U coin is the internal bank currency and loyalty coin for all internal and external banking services like leasing, credit, insurance, mining, exchange transactions, cryptocurrency transactions, and debit and credit card payments.

1 MCV token = 4 BCB4U coins. The exact date of the BCB4U coin generation will be determined by the BCB4U banking management after a full banking license has been granted.

Roadmap

MCV_roadmap

Team

The MCV team consists of blockchain, wealth management, and banking experts

MCV_team

Pros

  • Experienced and qualified team of senior bankers and wealth managers.
  • Launching their own cryptocurrency online bank to provide traditional banking services combined with blockchain technology.
  • BCB4U bank solves KYC/AML compliance and fraud detection challenges for banks.

Cons

– Stiff competition from blockchain based financial services like Bloom, OmiseGo, and Ripple. May need to offer additional features to differentiate from the pack.

ICO Details

Private sale: March 20, 2018 (00:00 CEST)

Pre-Public ICO: April 21, 2018 (00:00 CEST)

Public ICO start: June 21, 2018 (00:00 CEST)

1 MCV = 0.3900 USD in ETH (Public ICO)

Private sale: 34,000,000 MCV

Pre-ICO:  135,000,000

Public ICO: 230,000,000

Advisors: 50,000,000

Management: 25,000,000

Experts: 25,000,000

MCV/BCB4U loyalty: 501 million

Total Sum: 1 Billion

Conclusion

MCV-CAP is bridging the gap between awareness and usability of cryptocurrencies by creating a platform that combines the familiar features of traditional banking services, with the core functions of blockchain technology.

With a highly qualified team and strategic utilization of blockchain technology, MCV‑CAP has the potential to transform the banking experience for all users regardless of  income status or geographic location.



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