INTRODUCTION
Azbit provides different services for different stakeholders covering in particular the following group of people and organisations, block chain businesses, private individuals, traders, investors and lastly crypto users. Registration is still to take place to ensure compliance with rules and regulatory bodies of nations like Europe, USA and Asia. The project will cater for five segments which include banking services, multi-currency exchange support system as well as providing a secure identification system.
PROS AND CONS OF THE INDUSTRY
Security is better guaranteed in a highly regulated industry, inducing confidence in potential future stakeholder as the risk is reduced when compared to operating in a lowly regulated industry.
Demand for ICO has melted down as a result of the lish placed on the industry by regulatory bodies. This has also been a characteristic of the crypto currency industry and as a result clients are more particular in making a choice on where to invest.
The laws are still inadequate and very outdated and often times lead to complex legal actions having to be taken.
ICO funds are undergoing investigation as a result of the many fraud incidents revolving around the systems. In worst cases some businesses have been forced to stop operations. Therefore, ICO fundraising skims are no longer favourable.
To counter some of the disadvantages mentioned Azbit promises to promote the following four things despite the legal system having been multifaceted in nature:
• start a legal business
• propose transparent plan to the regulators
• build trustworthy relationships with customers
• reduce legal risk
• Challenges
• Banking
A major conflict exists between the traditional financial systems particularly the banks and the cryptocurrency industry. The banks are threatened by the latter industry in the sense that there have little understanding of the how the industry operates and the pressure placed on them by government to reduce money sponsoring terrorism has in particular left banks unwilling to cooperate with projects involving crypto currency. This has been shown in the inability to perform crypto currency transaction using bank cards in worst cases accounts have been freeze.
Azbit intends to obtain a bank license in European Union and has currently been successful in getting a paymentinstitution license in Czech Republic.
Some of the major problems experienced in the industry include the need of high quality technical support, listing tokens, fast growth, high quality solutions and security related issues.
To address the issues mentioned above an ATS will be set up to act as a crypto trade platform to facilitate trading of tokens. Another solution is to decentralise and demystify token listing enabling easy use by all users.
MEET THE TEAM
ADVISER
Roger Ver is the founder and CEO of bit coin.com and is well known for the effort he puts into promoting the bitcoin.
Mat Tokay is second in the hierarchy holding the position of COO he is also a co-founder of the bit coin news.
Giovanni Lesna is the CCO block chain strategist an entrepreneur and a speaker.
SUMMARY
Azbit provides different services for different stakeholders covering in particular the following group of people and organisations, block chain businesses and other bodies. And this project will have no doubt that it wont be successful as it cater for many services such as banking and currency exchanges etc.
To contribute and know more about the project you may visit some of the following Links:
• Website: https://azbit.com/
• Bitcointalk Ann Thread : https://bitcointalk.org/index.php?topic=5025592.msg45479926#msg45479926
• Whitepaper: https://cdn.azbit.com/docs/en/whitepaper.pdf
• Telegram: https://t.me/azbit_com
• Twitter: https://twitter.com/azbit_news
• Facebook: https://www.facebook.com/azbit.news
MY INFO :
• BTT Username: Rayed
• BTT URL: https://bitcointalk.org/index.php?action=profile;u=1944534
