World Bit Bank The world’s first legal cryptocurrency bank : CurrencyTimes

CurrencyTimes : We live in a time when the world is changing rapidly and all processes in it keep accelerating.Useful inventions allow the person to become more independent, to find more means and time,  to realize desires and possibilities, to take up favorite hobbies, to socialize and communicate with friends and colleagues. The possibilities of human mind are far from being exhausted and there are many discoveries humanity is going to face in the following years.

      The future of humanity in new technologies

XXI – century is a new world of Internet network development. The Internet enables to fast and uninterruptedly connect in real time, which has changed the way people interact with each other. In the future, most processes of human activity will take place with the help of digital technologies, including blockchain technology.  This also applies to the financial sphere, as the current situation in this industry does not meet the new demands of its global clients  that grows  larger every year. The main issue among these is a difficult access to such services. Our project involves the development of new crypto-financial technologies and their implementation in the existing financial and banking system. In addition, the implementation of this project will allow to conduct quickly in real time and without any cost money transactions in the ecosystem developed by our team “World Bit Bank” which operates on the basis of blockchain technology.

So there is the basic question: How can digital, financial and blockchain technologies provide real-time and cost-effective transfer of money transactions?

Up-to-date demands to the market

Previous instruments and tools of money transactions transferring implied the presence of banks and such systems as Visa, SWIFT and as well as others. In 1998 the PayPal system was created, which improved transferring of money transactions via the Internet. As a result, there was a banking structure for transferring money transactions based on four components, and sometimes on eight ones. Namely: A bank that has issued a plastic card and provides its service. Bank which owns the ATM in which the plastic card is served, a plastic cards service company, a shop. This structure is very labor-intensive, as each component of this chain takes payment for transferring transaction through its system. In the current situation this system is outdated. As an alternative a blockchain system has been created, which is based on the functionality of open source code. Today it is impossible to develop a system of money transactions exchange without digital technologies and cryptocurrency, as well as without digital identification, which is an essential part of this process. It is for this reason that cryptocurrency in the new financial world will undoubtedly play a fundamental role.

New team to face the challenge

The founder of the IT-company “Vitsolutions” LLC and the team of like-minded and committed people he has gathered, have been developing for more than two years the project of the world’s first international criptocurrency bank under the brand of “World Bit Bank” (WBB). Implementation and introduction of this project into the existing financial world will allow each person to be an active participant in the new financial world which is considered to be decentralized, mobile and protected by the blockchain technology, where you can earn without leaving  your home, and not leaving for long your friends and favorite activities. That will allow each person to become happier, freer and more independent.





Loren Smith
Loren has an MA in Science journalism and has worked for the BBC for the past 18 months, She has an honors degree in Anatomical and Physiological sciences and a passion for news media and had articles published in New Scientist

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