LakeBTC Makes Banking Free Worldwide with LakeBanker Project, Announces ICO Details

Updated on Jan 31, 2020 at 8:37 am UTC by Tatsiana Yablonskaya · 3 min read
Photo: LakeBanker
Photo: LakeBanker

The LakeBanker project is expected to leverage Blockchain to offer free banking services for everyone and to deliver more advanced financial services, including access to cryptocurrencies, at a significantly lower cost.

LakeBTC has announced the upcoming spinoff of the LakeBanker Project and start of ICO under an independent entity, the LakeBanker Foundation. A phase 1 for the LakeBanker Project is scheduled for the 15th August 3pm UTC – 20th August 3pm UTC.

Participants who can contribute in BTC and ETH will get new tokens called banc (BAC). Based on the Ethereum blockchain, BAC will become the de facto currency in the LakeBanker system.

LakeBanker is going to issue a total of 500 million BAC with 250 million offered in the Token Sale, 125 million reserved for our User Growth Fund, and the final 125 million distributed to the team.

The LakeBanker team targets to provide free available banking for the whole world. Although banking services are generally accessible for us, the number of the under-banked/no-banking people in the world accounts for 5 billion people. Blockchain can be the most suitable solution to offer free banking services for everyone and to deliver more advanced financial services, including access to cryptocurrencies, at a significantly lower cost.

The LakeBanker project aims at the establishment of Peer-to-Peer market to crowdsource a solution to the problem of inefficient banking. All the interested people will be able to send a payment, exchange money, or contribute to the latest Blockchain technologies via a mobile app.

“We will have few employees but millions will work for us and for each other. Without the need for high-street branches, ATM machines, cooperate offices, or thousands of salaried employees, the LakeBanker system will achieve levels of efficiency far in excess of traditional banking”, the LakeBanker team says. “Correspondingly, the cost of banking services is substantially lower: money can flow with little friction, from one individual to another, from one currency to another and from one country to another.”

LakeBanker is planning to improve training materials, including online courses, documents, videos, and exams, and add 30 new currencies/tokens and currency pairs in the fourth quarter of 2017 with even more ambitious initiatives planned for the nearest years.

Lake BTC

Launched in 2013, LakeBTC has already attracted 10 million users from 162 countries. The company is managed by Thomas Xie, a cryptocurrency veteran and serial entrepreneur. There are currently 42 currencies and 52 payment methods supported with hundreds more to come. The company says proudly that it is perhaps the only major platform without stolen coins, security scandals or flash crashes.

LakeBTC has gained a reputation of robust, reliable, and trustworthy player in the industry. In the future, LakeBTC will be a professional exchange for all digital assets including Bitcoin, Ethereum, altcoins and ICO tokens. It is planning to focus on the underlying trading technologies providing a high-performance, high-availability venue for institutional investors and professional traders.

Blockchain, Editor's Choice, News, Token Sales
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