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EQUITEN
THE FUTURE OF CRYPTO INVESTING
Greetings to you, dear readers of my blog! In this review I present to you an ICO-project,
I will tell about everything in detail in this article
Equiten CARD EXECUTIVE SUMMARY
The functionality of Equiten Card makes it a must-have item not only for every Ether or Bitcoin holder, but also for everyone who spends money in foreign currency.
Core features
Spend your Ether or Bitcoin with a physical Equiten Card, wherever cards are accepted, both online & offline
Only the exact amount that you spend with your Equiten Card will be incrementally exchanged from ETH/BTC in real-time when you swipe your card, with rest being securely stored in your wallet to which only you have access
Exchange money at perfect interbank exchange rates using Equiten App • Enjoy the same perfect interbank rates whenever you spend on Equiten Card
Send money from Equiten App in 23 currencies to 120 countries worldwide for free
Sending money between Equiten App users is free & real-time, with the money being instantly available for the recipient on their Equiten Card
Customer onboarding can be done entirely via the mobile App — a process taking less than 3 minutes
The Equiten Card
In order to receive the Equiten Card, our customers need to download Equiten Android / iOS App and go through a simple 3 min onboarding process, including remote KYC. We will issue and send the Equiten Cards to customers free of charge. The physical card can be used both for online and offline purchases at more than 30 million merchant locations globally.
Every time you spend with the Equiten Card, you will be given perfect interbank exchange rates without markups or fees. In practice that means savings of EUR30–40 on every EUR500 spent, compared to high street banks.
You can fund your account with Ether and Bitcoin, instantly and for free. You can also use fiat currencies, topping up your account by bank transfer or with a debit/credit card. Finally, you can also apply for a credit limit from our App and receive a decision instantly based on crypto assets held in your account. A topup credit limit effectively turns the Equiten Debit Card into a credit card, as you will only pay interest on amounts of credit that you use, but don’t repay in a timely fashion.
Spending your ETH/BTC with Equiten Card is seamless. You keep ETH/BTC balances in your wallet, which you can view at any time in the Equiten App. Every time you swipe your Equiten Card, we will only exchange the incremental amount of ETH/BTC that is required to settle the fiat currency transaction. The rest of your ETH/BTC balances remain in your wallet. There are no monthly or annual fees for usage of the Equiten Card. Access to perfect inter-bank exchange is free. Equiten will not charge fees for global ATM withdrawals within Fair Usage Limits.
ETH-funded Purchase with Equiten Card Example
Jenny is a using Equiten Card for her travel expenses. She tops-up her Equiten account with 1 ETH. She is in France on holidays and spends EUR 16 on lunch. She swipes the Equiten Card. Equiten Card’s server-side processing systems apply perfect interbank exchange rates to calculate that EUR 16 equals USD 17.7410. Based on the current exchange rate between USD and ETH, provided by the highest daily volume exchange, USD 17.7410 is equal to ETH 0.04 ETH.
Equiten will pass on the best-available exchange rate between USD & ETH to the users without any mark-up. Equiten will cover the cost of USD & ETH exchange rate (the maker/taker fees traditionally charged by cryptocurrency exchanges).
No fees are applied for exchange between USD & EUR. Users will receive the perfect interbank exchange rate without any mark-up
BTC-funded Purchase with Equiten Card Example
The scenario works exactly as with an ETH-funded purchase described above, the only difference being the Asset Contract accrual of a 1% software license fee. BTC equivalent will be converted to ETH at prevailing rates without any exchange fees and credited to the EQU Asset Contract. Equiten will cover the cost of BTC & ETH exchange (the maker/taker fees traditionally charged by cryptocurrency exchanges).
Equiten will pass on the best-available exchange rate between BTC & ETH without any mark-up.
EQU Token Creation
The Equiten EQU Token Creation Event will last for the duration of the Token Sale, starting 9:30am UCT on 1st of August 2018. A fixed number will be created during the sale, and no more will be created thereafter.
Support for other crypto currencies
Other broadly accepted cryptocurrencies will be added to the platform over time as they gain popularity and in consultation with the community.
Credit Limits & Cards
Credit Limits for card holders works easily and is applied to card holders balances instantly
The highest credit limits are given to EQU tokens at a rate of 85%.
Example: EQU token value $5, customer deposits 100 tokens in their Equiten credit card wallet. This represents a $500 market value. The customer would be able to spend up to $425 in fiat.
Equiten currently supports 10 crypto currencies at a credit rate of 60%. Supported crypto currencies are:
Bitcoin
Ethereum •
Ripple •
Bitcoin Cash
Litecoin
Tether
Monero
NEO
DASH
Cardano
In the future additional crypto currencies will be added.
Credit Card Repayment
Credit card bills are issued monthly and settlement is done every 90 days. There is no obligation to repay the outstanding balance as your crypto is used to back the fiat purchases. Any crypto not used as security against purchases is always available to withdraw from the system 24/7. At the end of the 90 day billing cycle our system automatically settles your account and releases the outstanding crypto balance. Customers also have the ability to settle their accounts at any time during the billinng cycle and withdraw the remaining crypto.
THE EQU TOKEN CREATION
Equiten aims to accept up to 250,000ETH from our initial token partners and create approxi-mately 330 Million EQU for sale in exchange for the ETH committed.
The Token Sale will last for 30 days in each stage. Once a stage sells out the next stage will begin. If soft-cap is not reached all funds will be returned. If hard-cap is reached, the event will close automatically. In the event a stage doesn’t sell out remaining tokens will be transfered to the final stage of the token sale. Any unsold tokens will be transfered to the reserve fund.
Soft cap is reached at 150 million EQU sold.
Hard cap is reached once 330m EQU are sold.
The Equiten BLACK Card
Limited Edition Equiten BLACK Cards will be issued to first 1000 customers meeting the requirements.
In order to qualify you will need to buy 50,000 EQU and hold for a minimum of 6 months. Once you purchase you’ll need to hold in the Equiten wallet to start the qualification timer. If you move the tokens out the timer will be reset. Please note that moving the tokens back into the wallet will start the timer and the full 6 months would be required.
There will be no Equiten BLACK Cards issued after the initial 1000.
The BLACK Card
Besides the exclusive design, Equiten BLACK Card holders will enjoy lifetime unlimited perfect interbank exchange rates and triple free monthly ATM withdrawal limits. More benefits will be rolled out over time.
The person who contributes the highest number of tokens in the ICO will be rewarded with Equiten BLACK Card Number 001 and will receive a bonus 100,000 EQU Tokens from the Equiten Founder’s Pool. The 100,000 Bonus EQU Tokens will not be subject to a lockup period
The winner will be announced at the end of the token sale, winner must meet the black card requirements to be granted the bonus tokens
Use of Funds
The proceeds from the token sale will fund the product launch, continued platform development and user acquisition:
35% — R&D and Product Development Includes opening of an R&D center in London with approximately 20–30 engineers.
20% — Marketing and Customer Acquisition The marketing budget is not significant compared to the target number of customers we intend to acquire. The key source of new customers is going to be word-of-mouth, as the product gives users a very strong commercial incentive to download the App and get the Equiten Card. There are natural network effects built into the product around the P2P money sending function, which will lower the average customer acquisition cost (CAC) substantially.
15% — Initial Capex, including costs of e-Money licenses, compliance and architecture setup. Some of our key partners are listed in section 4 of the document. There is a substantial cost associated with integrating all those partners, acquiring all the necessary licenses across multiple jurisdictions, building out compliance teams, legal fees and general technical architecture setup.
30% — Working Capital Our product — the first and only Universal Money App — is bridging the gap between the worlds of crypto and fiat currencies. In order to offer our users real-time access to funds and perfect exchange rates without mark-up, we will have to bridge funding gaps between multiple parties using our own balance sheet.
Token Sale Escrow
Funds committed during the EQU Token sale will be held in a secure multisignature wallet and will only be released from the account with 2 out of 3 signatures
Reserve Tokens
We are setting aside 100,000,000 of all EQU created as Reserve Tokens. These EQU will not be issued or sold during the initial sale and are locked in a smart contract. If at some point it seems advisable for the Equiten Card project to sell more tokens, some or all of these may be offered in an auction format or some other format that suits the capital needs of the project. Specifically, there are substantial balance sheet strength requirements in case Equiten decides to apply for a full banking license in the European Union or Asia. In the interim, these EQU will not be used in any way. They will not be considered as issued. It is possible these EQU will never be issued, however, we feel it is prudent to have some backup if needed. In any event, Equiten will engage directly with EQU holders to seek guidance and market reaction before any of the Reserve tokens are offered.
USE CASE SCENARIOS
Funding your Equiten Card with ETH / BTC and incremental automated exchange at interbank rates when you swipe the card
Equiten Card is the most convenient and cost efficient way to spend your Ether and Bitcoin, period. You can load your Equiten Card with ETH / BTC in real-time and free of charge and have the funds immediately accessible with your Equiten Card. You can setup rules to automatically top-up your card whenever the balance drops below a specific level.
At the moment of the transaction when you swipe the card, we will check whether you have sufficient balance in the account and convert only the amount necessary to settle the transaction.
All transactions completed with Equiten Card are done at perfect interbank exchange rates. Banks & credit card companies typically charge FX fees and cross-border fees every time you spend in a foreign currency. With Equiten Card you are able to save EUR30–40 for every EUR500 spent.
Spending in foreign currency while traveling abroad
With Equiten Card, you can pay at over 30m merchant locations globally. Your card will always be treated as a local currency card, you will receive perfect interbank exchange rates without any mark-up, without any cross-border fees, without any worries.
Shopping online in foreign currency
Using Equiten Card to shop online in foreign currency is an excellent way to save money
Sending money back home
Transferwise is 6–8x cheaper than high street banks when sending money back home. Sending money with Equiten App is an additional 0.5% cheaper than Transferwise. Comparing with Western Union or MoneyGram make almost no sense whatsoever — our users may save as much as 25% on a single transfer compared to those soon-to-be obsolete institutions.
Splitting bills / paying back friends
Equiten App allows you to easily split bills with your friends or pay them back with a single swipe and a Touch ID authorization.
Paying suppliers / contractors / merchants in foreign currency
For those who run businesses paying suppliers in FX, Equiten App is the best source of foreign currency. We beat every single bank and every single remittance company with perfect interbank exchange rates.
Equiten APP & PLATFORM DETAILED OVERVIEW
Equiten App
Proprietary. Both iOS and Android Apps built in-house with focus on simplicity and ease of use.
Card issuing & processing platform
Equiten Cards are going to be issued by one of the leading issuers and processing platforms globally, listed on Frankfurt Stock Exchange, with one of it’s subsidiaries holding a full banking license in Germany
Our processing platform is a MasterCard® and Visa® accredited processor. They are Level 1 PCI DSS compliant. The company is headquartered in UAE and has an end-to-end solution that includes: payment processing at its core, program management tools, bespoke software development, financial control and reconciliation, technical support and card-holder customer services.
KYC platform
Our mobile onboarding & KYC solution is built with next-generation in digital ID verification, enabling businesses to reduce fraud and increase revenue while providing a fast, seamless customer experience. Uses computer vision technology to verify credentials issued by over 200 countries in real-time web and mobile transactions.
Sanctions / PEP checks
In order to comply with relevant KYC/AML regulations, all Equiten Card holders undergo standard Sanctions / PEP checks in partnership with Thomson Reuters World-Check
Thomson Reuters World-Check risk intelligence data can be accessed using purpose built screening platforms, APIs and selected partner software. WorldCheck data supports our clients’ due diligence obligations in the fight against financial crime, bribery, corruption, human rights crimes and environ-mental crime.
World-Check appreciates the data protection and privacy implications of providing this database and has robust data protection processes in place.
P2P Transfers between Equiten App users
Proprietary. Equiten App users will have the ability to send currency (both crypto and fiat) to each other for free and in real time with funds being available to the recipient instantly and accessible by their Equiten Card at ATMs & POS globally
Interbank Exchange Rates, Physical Settlement & Hedging
Proprietary. In order to offer all Equiten customers perfect interbank exchange rates without losing a tremendous amount of money, we are connected with 8 out of the top 10 banks by foreign exchange volume, giving us access to liquidity and low spreads. Our backend handles settlement and deploys proprietary algorithmic currency hedging strategies.
Cross-border Transfers platform
Equiten partnered with several parties to power it’s cross-border transfers capability using existing banking rails. In this setup, funds are sent locally, avoiding cross-border charges. We’re looking to deploy blockchain-based solutions at a later stage.
Top-up Channels
Customers will be allowed to top-up their Equiten Card with Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, Tether, Monero, NEO, DASH or Cardano.
Apple Pay & Android Pay Functionality
Customers will be able to link their cards to Apple Pay, Samsung Pay and Android Pay in Q1 2019
Physical Card Production & Inventory Management
Equiten Cards will be produced by Gemalto, one of the market leaders with EUR 3.1b in 2016 revenue and 15,000 employees in 48 countries
Live Rates API Feed
Live interbank exchange rates API feed from one of the industries golden standards — MorningStar.
Card Security Management
Industry leading card security features are available from the Equiten App — including card blocking, unblocking, setting up geographical security, online shopping capability and more.
Companion Card Management
Ability to issue a Companion Card with ability to set spending limits
THE MARKET
Fundamentally, there are two broad group of customers for whom Equiten Card has been built
Cryptocurrency holders, who want to spend it globally in the most convenient and efficient manner
Fiat-only customers, who spend in foreign currency and are now facing excessive levels of fees charged by banks While the funding sources for Equiten Card will differ for both customer groups, their use cases largely overlap and include:
Outbound travel spend
IPK International reported that the world outbound travel market turnover for the full year 2016 topped the $2 trillion mark for the first time, which was an increase of around 7 to 8% compared to 2015. The outlook for travel in 2017 is very positive, according to IPK International. The consultancy forecasts an increase in worldwide outbound trips of between 4 and 5%. IPK International sees particularly strong growth for outbound trips from Asia, with a likely rise of 6%. China’s outbound tourism is a massive opportunity. Over 70% of cross-border trips are made to Hong Kong and Macau, according to the World Travel Monitor. Chinese outbound trips amounted to around 39 million in 2015, excluding trips to Hong Kong and Macao. For the Chinese traveler holding digital currencies, the Equiten App can be an essential tool.
In-bound remittance (sending money back home)
A remittance is — quite simply — a money transfer made by a foreign worker back to an individual in their home country. However, the typical international money transfer requires loads of communication between the individuals on either end of it. They have to calculate exchange rates, synchronize amounts, collect personal details, agree on a transfer method, and then confirm when the cash has been sent and received. Worldwide, 230 million people send $500 billion in remittances each year, primarily using firms like Western Union, Moneygram, and RIA. India, China and the Philippines are the top three countries that receive the most money via remittances.
In terms of continents, Asia is the biggest recipient by far — in 2016, migrants from China and India sent home a staggering $180 billion. year, primarily using firms like Western Union, Moneygram, and RIA. India, China and the Philippines are the top three countries which receive the most money via remittances. In terms of continents, Asia is the biggest recipient by far — in 2016, migrants from China and India sent home a staggering $180 billion.
Cross-border online shopping in foreign currency
The global B2C cross-border e-commerce market will balloon in size to $1 trillion in 2020 from $230 billion in 2014, according to a report from global consulting firm Accenture and AliResearch, Alibaba Group’s research arm. In the report, researchers forecast that this increasingly popular form of online shopping — entailing consumers taking to the Internet to buy products directly from overseas retailers — will see compound annual growth of 27.4 percent per year. By 2020, more than 900 million people around the world will be international online shoppers, the report says, with their purchases accounting for nearly 30 percent of all global B2C transactions.
China will become the largest cross-border B2C market by 2020, with the transaction volume of imported goods purchased online reaching $245 billion, according to Accenture-AliResearch. The report predicts over 200 million Chinese consumers will be cross-border shopping by 2020.
TEAM
Mission
Build simple and honest financial products that improve lives.
Project Values
Clarity and simplicity
Build simple and honest financial products that improve lives.
No fine print
Our brand is built on principles of trust and honesty, as such our customers don’t need to worry about reading the fine print — because there isn’t any. Lead, don’t follow
We push the envelope in financial products, doing things that were never done before to win the hearts and minds of our customers.
Team
Team is a good mix of experts from different fields.
There are experts in business administration and mechanical engineering as well as software development and finance.
All important employees can look back on a long and successful career and bring the necessary experience to the company.
FINANCIALS
We have a short operating history and a new business model, which makes it difficult to evaluate with accuracy our prospects and future financial results. Despite the risks and uncertainties frequently encountered by companies in rapidly evolving markets, we are offering two scenarios to help those participating in the Token Creation Event to understand different levers and possible outcomes for the project
Equiten’s revenue comes from the fee paid by the merchants (interchange fee, see below). This fee is the same as on other cards and is paid by merchants to the acquiring bank in order to process their payments. Equiten takes a percentage of this fee each time a customer uses their Equiten Card. We assumed in our models the average interchange fee to be around 1.20%. This is not straightforward, there are pages and pages of rates: the interchange fees vary based on whether the card was present or not — and on the type of good or service being bought, whether it was a debit or credit card, whether it was a corporate card, whether it was an international transaction and lots of other criteria.
Equiten intends to add additional recurring revenue streams within the next 12–18 months, including subscription fees based on a fair usage policy (i.e.: for cash withdrawals) and introduction of credit line with repayment period between 12 and 60 months.
Additionally, we will partner with innovative fintech companies around the world to provide customers with the best savings, investments, credit, and insurance products directly with our App. We intend to be a digital finance platform and share revenues with selected “best of” partners in other major categories (investing, savings, credit & loans, insurance) with an emphasis on blockchain empowered partners.
Conservatively, we have based our average user spend on debit card reports that give an average spend of USD3,500 per year.
We have also taken into account growth in users transacting in ERC20 tokens versus fiat currency.
We will grow progressively the percentage of ERC20 tokens transactions from 40% to 80% over 5 years
Financial transactions include POS and ATM transactions.
Since January 2017, Ethereum and the Token market have grown at a valueweighted average of about 300,000% annually (or 6.7x per three months). We do not believe this growth rate will continue over the next five years. We have therefore taken a range of growth from 40% to 100% per year as our range for projections. For each scenario, we also assume that the Ethereum economy grows — by around 3% (Conservative) and 6% (Optimistic) monthly for the next 3 years. This equates to around a 40% and 100% annual growth in assets backing EQU for the different scenarios respectively.
Below are some rough projections of Equiten performance under two different scenarios over a 3 year period.
Conservative
In a conservative scenario, we modestly grow our user base and modestly monetize our products. We will operate in a highly competitive space. However, we strengthen our position as the multi-currency platform of choice in the Ethereum community by adding product features valued by the community. We foresee only a modest increase to the rate at which the general public funds payments using digital currencies. and tokens begin to see adoption by the general public, which also boosts our user-base.
Optimistic
In an optimistic scenario, we expect to grow our user base and user engagement, introduce new products, such as credit line, capture a substantial portion of the Ethereum community and see success from customers spending in foreign currency while traveling abroad, shopping online in foreign currency and sending money back home.
TOKEN SALE
Details
EQU token creation event will commence on 1st of July 2018, 9:30am UCT.
Only Ether can be contributed and turned into EQU
The Token Sale will last 30 days in each stage.
The creation will be soft-capped upon selling 150,000,000 Million EQU.
The EQU tokens will be created in real time, in response to incoming ETH contributions
No more EQU will be created after this period
Additional EQU
Additional EQU will be created for the Capital Reserve, founders, advisors and early investors as follows:
Timetable
Conclusion
Project solves the costly and costly problem. The platform is a prime example of the meaningful use of smart contracts and is therefore absolutely groundbreaking for the future. With their experienced team and a very good vision, this is a serious project with great prospects of success.
Website:- http://www.equiten.com
Telegram:-
t.me/EquitenGroupChat
Fb:- https://www.facebook.com/Equiten/
Twitter:- https://twitter.com/Equiten
Author : jalan rusak
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1953661
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