HAMRUN, Malta--(BUSINESS WIRE)--The FOTON project is launching a decentralized crypto-bank designed for multi-currency transactions featuring a built-in fiat and cryptocurrency exchange system and instant contactless payments for goods and services worldwide to create a stable and flexible ecosystem that will enhance scalability for all services for financial assets, exchange solutions, cards, accounting, and business/customer services.
The advent of blockchain technologies and cryptocurrencies has heralded a new era of financial infrastructure development and freedom as high-tech solutions have allowed millions of people to bypass traditional banking barriers. The technology is called upon to solve some of the most pressing issues of the modern banking system and the application of cryptocurrencies in everyday life. The most pressing issues facing the markets are overregulation, bureaucracy, centralization, system faults, volatility, legal constraints and complications related to practical use.
The FOTON project was designed from the ground up as a wholesome infrastructure with an intermediary-free cryptocurrency exchange and interbank ecosystem powered by the Light in-house blockchain technology combining finance and customer service processes. It provides simple and understandable crypto instruments with minimum fees and secure transactions through smart contracts.
The revolutionary core ecosystem is designed to manage various financial and social institutions through a decentralized registry and offer clients a variety of tools, including contactless, NFC and QR payments, deposits and crypto wallet services. The planned performance of the FOTON Light Secure network is estimated to be 250-500 transactions per second with a potential to expand after full-scale stress testing. The main aim of the product is to create a stable and flexible ecosystem that will enhance scalability for all financial services and is designed to enhance the speed of fiat-to-crypto exchanges while ensuring secure payment for products or services
“We are creating the ecosystem that will prove to be the impetus and basis the crypto market needs to make the effective transition to becoming the next global banking system,” as stated by Andrey Pashkevich, CEO and Co-founder of FOTON.
The FOTON ecosystem provides a number of considerable advantages over centralized payment and banking systems. The network grants reliability, security and instant transfers with a 0.5% fee, 0.1% exchange commissions, inter-bank financial channels, integration with ATMs, and automated bots that advise clients on operations. Other advantages for individuals include well-developed internal loyalty programs and cashback operations, contactless payments for mobile devices powered by NFC technology, cashless transactions and worldwide availability via a mobile app.
The project is run by a reputable team of over 30 employees with the founders, management and advisors consisting of professionals with many years of experience in Credit Europe Bank, Veltrust, Capital Springboard and other global institutions. The FOTON project intends to conduct the sale of its internal FTN Token starting from the pre-ICO on November 25, 2018, to the main ICO event scheduled for February 1 to March 27, 2019.
The team of the FOTON project is relying on a comprehensive roadmap consisting of a series of important milestones, including the full launch of the system, migration to mining pools and operations licensing in 2019, and launch of neural networks in 2020. The project MVP is ready and the team is currently moving ahead with the implementation of its main plans.
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More details about FOTON can be found at http://fotonbank.io
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