Can you imagine the most modern, revolutionary banking platform that is able to combine a credit-financial organization and a currency exchange? Yes, that's how you can describe the Entry project. But let's look at it in more detail. Entry is a platform based on the blockchain and smart contracts technologies, which is aimed at solving the problems of the modern banking system by creating a unique environment that will unite all the representatives of the banking craft. Moreover, Entry is a real bank and is not inferior in functionality to usual common banks, and in certain aspects Entry is even better.
The first financial operations appeared BC. People began to exchange different things that were considered equal. After the barter development a currency appeared and then monetary frauds. As soon as there was a need for loans, the first private bankers appeared. They gave out money at interest. Later, private and state banks appeared. The first banking institution was formed in 1463, in the city of Orvieto (Italy). Later, various banks appeared that covered the entire planet. Modern life can
t be imagined without it. They have already become an integral part of our society. Nevertheless, even considering the whole centuries of development, banks still have many shortcomings and some of its can be called critical. However, in addition to banks, our society is also impossible to imagine without the "Internet" which can become a real salvation in the current situation with banks. How exactly can the Internet help solve the problem of monopoly banks? First you need to understand the essence of the problem . **The essence of the bank problem** During its development, which began as early as the 15th century, the banking sector became a monopoly. This caused a number of problems among borrowers. Firstly, due to the lack of healthy competition, high interest rates on loans and mortgages were formed. This couldnt be stopped because of the lack of alternative options. Secondly, the bank is a centralized organism that doesn
t withstand hacker attacks and, in most cases, doesnt have reliable protection against bankruptcy. This makes any contributions risky. Also, the bank has a critical problem - a poor check on the solvency of customers. It
s exacerbated by growing interest and this in combination leads to cases of non-payment of loans and leads directly to the next problem. Banks use collectors to solve nonpayment problems, and they can harm the client or his property, which is simply unacceptable in the twenty-first century. In addition, the client is very likely to face the problem of paper red tape, which he doesnt need at the current speed and quality of the development of modern technologies. What is offered in exchange for this archaic financial organization?
Entry offers a platform that can solve all these problems and significantly improve the quality of financial services. This will preserve the best aspects of the bank. Thanks to such a product, the influence of monopolies in the banking sector will be significantly reduced. The emergence of competition will force banks to lower interest rates. This will positively affect the sphere of lending and will facilitate the life of borrowers.
The purpose and objectives of the Entry project
The developers of Entry strive to create a revolutionary system that can combine all the advantages of existing banks and the advantages of modern block technologies and smart contracts. To achieve this, platform developers have used these technologies and this has enabled them to achieve transparency, openness, honesty and security in all activities, including money transactions.
The Entry project can give the world the following opportunities:
The platform will make the crypto currency accessible and understandable to everyone interested. This will significantly expand the circle of users of the world's major tokens, because at the moment one of the barriers is the difficulty of buying and further using coins and the lack of confidence in the world of crypto currency.
The platform uses blockchain technology, which makes all operations transparent. This is necessary in order to build customer confidence in the company and improve the quality of money protection. Thanks to the blockchain technology, the storage of currency on the platform will be safer than in any ordinary bank.
Entry has a large geographical coverage. You can use the crypto currency, which you have at any time and anywhere in the world where there is Internet. It opens up new opportunities.
Entry will change the concept of interaction with financial institutions, introduce new technologies and promote revolutionary concepts.
The Entry platform will provide its customers with a number of banking services. This will increase competition in the current banking monopoly, which at the moment is the main reason for high interest rates. The absence of competition is the main problem of modern banks. Such a project as Entry solves the problem by its high competitiveness.
The project supports a number of important functions and products: deposits, payments, debit card payment, micro loans, insurance, ATM support, factoring and multifunctional. The presence of the last two points makes the project better than similar competitors in the market. Together, these factors greatly simplify the use of funds. All this increases the overall value of the project.
The Entry developers plan:
- Create a decentralized system that can open up new opportunities in the sphere of lending.
- Use smart contracts to improve the quality of protection for all internal transactions.
Thanks to smart contracts, every action will be recorded in the database. This will make changing the information about the loan impossible.
- Reduce the influence of monopolies in the banking sector and increase the level of competition. This way of influencing banks will benefit all borrowers who previously had to endure high interest rates on loans because of the influence of monopolies.
- Create a rating among the creditors that will guarantee the security of the loan. The platform will store information about the credit history of the borrower. The information will be encrypted, this will protect it from making changes from outside. At the same time, you can delete information about yourself if you want, if you do not have current debts.
A special rating system among the creditors will protect your money from dangerous investments. In addition, the platform has a database that will store information about the credit history of the borrower. All data will be encrypted. This will avoid violation of confidentiality. It`s important to note that the project is completely legal because the blockchain technology system will give full transparency to the system. Information about loans can not be changed. This makes this kind of lending legitimate in most countries of the world.
How ot works
Entry works according to the following principle: the user is registered on the site, fills in personal information. After that, the customer can choose the service he needs. The platform provides a range of financial services. If the client needs a loan, the system creates a special smart contract that confirms the fact of lending. This makes the whole process transparent and safe. Also, the client can delete all information about himself if he has no debts.
What are the advantages of Entry and how is it better than conventional banks?
Entry makes it possible to avoid unnecessary paperwork. All processes will occur completely automatically. This will significantly increase the speed of issuing loans.
The platform has a convenient registration. It can be passed, avoiding thousands of banking institutions and extra time. And even without leaving home.
Security Entry is not in any doubt. All data is completely classified and provided only when necessary. In the event that a customer takes a loan, a special smart contract is created that can not be changed. This makes it completely safe. If the borrower repays all loans and does not have any active financial contacts on the platform, it can completely remove all information about itself and retain the right to particular personal data.
The platform has a high connection speed. This will allow you to make all monetary transactions without large delays as in other banks.
The platform will maintain low interest rates on loans. This brings great benefits to borrowers. Due to the emergence of such a competitor in the market, large monopolistic banking systems will be forced to lower interest rates in order to continue to exist.
Components of the Entry project
Entry.Money is a special part of the project, which will combine financial payments (including crypto-currency). In addition, the link supports communication between mobile and web applications. Private business - with a business account.
Entry.Exchange is the part that increases the speed of information exchange. This speeds up the work on the platform. Entry customers will receive a convenient, intuitive interface and access to round-the-clock technical support.
Entry.Network is an important piece of the data chain that is responsible for open source, as well as: a purse, blockchain and smart contracts.
Entry.Bank is a system that supports blockchain technology that allows you to safely execute transactions without worrying about your funds. The blockchain technology makes all translations transparent and does not give the opportunity to subject these changes.
Entry.Cash - the link that is responsible for fraud with funds. Among them: transfers, replenishment, money and money. In addition, the system will support ATMs and payment cards.
ENTRY Token is the main coin of the project. This allows you to make all intra-system transactions, as well as transfer money from one currency to another.
Elimination of intermediaries
An important aspect of the project is the exclusion of unnecessary intermediaries from the financial chain. First, Entry is an online platform. So it helps to avoid the huge number of superfluous personnel and facilities that are required by ordinary banks. Secondly, confirmations of operations will be excluded. Out of the system, there will be superfluous persons who received part of the profit for notification of the transfer of funds. Excluding this, all Entry members will benefit from the opportunity to avoid unnecessary costs. Entry is an independent bank - this opens up new opportunities in excluding superfluous persons and costs.
Between 2016 and 2017, the volume of non-monetary transactions around the world increased by 15.4%. This indicates an increase in the need for crypto currency. Debit cards at the moment are the most popular way of money transfers in the world.
Entry and business
Entry, at the moment - the best platform for remittances. The reason is simple - a strong reduction in commissions and security of funds. Business almost always needs a large number of cash transactions, and the commission at the same time can eat huge amounts. But this problem does not apply to the Entry, because the platform is aimed at supporting customers as much as possible. The platform is ideal for paying salaries, because there are no commissions. This is very important in such operations.
Team and partners
Such a large project like Entry could not have appeared without a good team with the right motivation. The Entry team is a true professional with many years of experience in various fields that have been combined for one project:
Thomas Abrezers, Justas Mazlukas, Tedes Ambrezes, Ignace Sakalauskas, Jonas Livinkas, Rome Delgiada, Vilnis Sapollo, Carolina Latosaith, Rinata Ladinsha, Simmet Patell, Mirunes Simanes, Indri Strauss.
Also, the Entry project had partners: Bancor, Credits and Welltrado.
Work in 2015. Appropriate licenses were obtained and the development of the platform began.
In 2017, Entry signed an agreement with the Central Bank on the receipt of SWIFT and IBAN. Create a payment portal to raise funds for online stores. Starting crypto. Investing more than a million euros for development.
In 2018, there will be sales and ICO. Ensuring cooperation with different countries. Testing the platform. Opening of accounts.
In 2019, we plan to develop a mobile application. Testing the site.
In 2020 - the beginning of the ATM network and ATMs.
2021 will be devoted to the spread of the platform around the world.
Entry will use its own token on the platform. The coin is of the standard type: ERC-20 and will be sold at a price of 15-44 cents apiece depending on the course. ICO Entry takes place in August 2018, and the bulk of the auction began on June 1. A total of 590 million ENTRY coins will be issued. They will be distributed as follows: 55% will be allocated for sale during the ICO, 20% to the project team, 5% to the advisers, 3% to the bounty, 17% - the system and the software.
The profit from the sale will be divided as follows: 40% - research and development, 22% for legal costs and licensing, 20% - marketing, 10% - coverage of operating expenses, 5% - team development and 3% - bug tester and platform protection.
Entry is open for cooperation and strongly encourages the dissemination of information about the project. Including - issue ENTRY tokens.
Soft cap is EUR 2,500,000 and hard cap of the ICO is EUR 80,500,000.
You can buy a token using a number of popular crypto-currencies, including: bitcoin and ethereum. Also, ENTRY can be bought for ordinary money.
Proceeding from the general situation and relying on the totality of all the above and mentioned facts, we can conclude that the Entry project has a huge potential in the banking sector. This was served by: an excellent team consisting of professionals in their field, correctly set goals and priorities of tasks, as well as the need for the existence of such a project on the market. It
s important to understand that Entry isnt just a small project, Entry is a full-fledged bank supporting all the usual functionality of banks, including: payment in a store or restaurant, internet purchase, etc. Also, Entry has its own ATM system and cards that perform the same functions as regular bank cards. Entry is a very promising project for the simple reason that it`s aimed at solving global and very urgent problems of the modern world, at the same time, the execution of plans is at the highest level: the team is within deadlines, the tests of the platform show positive results, and those people who meet the project - believe that it has great potential. Whether to invest in this project or not - your choice, but the Entry project is definitely worth your attention.
Written by Telegram user: @royal_king1999
Bitcointalk Username: mars123_123
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