FLYER'S NOTE: BitBose : Platform Fitur Bank Cryptocurrency

The BITBOSE ICO intends to raise funds to build a platform that allows decentralized operations of core banking features. The BITBOSE platform will allow users to:

 Deposit/Park Funds

 Take Loans denominated in Fiat/Cryptocurrencies

 Buy/Sell cryptocurrencies on the BITBOSE Exchange

 Trade Smart with algorithmic trading

All activities of the BITBOSE platform will be denominated in ERC20 BOSE tokens which will be a utility token and the central unit of exchange on the platform. Prospective users can buy the BOSE tokens in exchange for BTC/ETH/FIAT during the ICO event or on crypto-exchanges after the ICO event. The BITBOSE platform has been divided into three key heads for according to the core functionality while the backend remains integrated tightly with one another for faster processing time and a seamless user experience. The components of the BITBOSE platform are:

 BITBOSE Bank — for depositing funds and taking loans

 BITBOSE Exchange — for the simplest trading experience

 BITBOSE Smart Portfolio — for access to algorithmic trading by a bot that improves trading acumen by machine learning.

BITBOSE is an entity registered in the UK and adheres to all its laws and regulations

TRADITIONAL BANKING SYSTEMS

The Banking Sector has grown into a huge entity that has divided itself into smaller arms according to their core functions, for easier management. These arms are:

 Asset Management — This arm looks into the investment needs of the people and helps provide finance for investment purposes to UHNIs, HNIs, and the wealthy.

 Banking Operations — The core banking operations of taking deposits from those who save and lending in small amounts to those who need credit are taken care of by the Banking Operations arm of the Banking system.

 Corporate Banking — This caters exclusively to the advances to trusts, partnership firms, companies and statutory bodies that require asset management, financing, and liquidity across borders and across jurisdictions, in a hassle-free manner.

 Depository — The rise of computers has led to dematerialization of physical copies of shareholding. The banks now act as holders of dematerialized copies of the investors’ portfolios.

 Treasury — Treasury Management provides greater insight and control over complex processes for managing funding, liquidity, and risk. Large banks have a stronghold on the provision of treasury management products and services

The rapid penetration of the internet to the far flung regions of the world has helped banks increase their reach and product offerings to the largely unbanked rustic areas of the world. While it proved to be a boon for some, it was a curse for others. Sophisticated financial products were made available to the simple people who had hitherto been unbanked their entire life. Many were overwhelmed by the complexity of the banking systems while others were blindsided by the fine print and the associated terms and conditions that come attached with banking products.

This saw many country-side settlements losing their houses and the accumulation of more land in the hands of the wealthy. This became another exercise of feudalism with the banks emerging as the new-age feudal lords. This impoverishment of the lower and the middle classes at the hands of the wealthy also acted as a catalyst for the protests that came to be labelled as the 99% movement. Traditional banking systems are also centralized servers and services which make the bank a lucrative target for hackers. Banks, even with their multi-million dollar security suites are as vulnerable to hacking attempts as the ones without sophisticated security suites customized for their needs. Once a hacker gains unauthorized access to the central server or databases of a bank, they can pretty much do anything with the customer/client data, from harvesting the information for stealing identities to full-blown stealing of funds stored in the banks.

The banking system today relies heavily on electronic transfer of payment to speed up transactions. This need for speed was serviced by building a system of wireless and wired networks with embedded and built-on-top security measures to prevent unauthorized access. However, the hackers have grown extremely sophisticated, as can be ascertained by the recent plague of ransomware, WannaCry crippling many private networks from hospitals and government organizations to banks and other such financial institutions

BITBOSE — THE DISRUPTOR

The BITBOSE umbrella includes the following three components:

 BITBOSE Exchange

 BITBOSE Bank

 BITBOSE Smart Portfolio

These three components are completely integrated at the backend and present modularised frontend to the user. The BOSE ERC20 token is the central currency that drives all transactions on the BITBOSE platform. A user must buy BOSE tokens to access the features and capabilities of the BITBOSE platform. Thus, the BOSE token is a utility token. For example, a user must buy BOSE tokens to access the BITBOSE Smart Portfolio which will allow him/her to become part of the trading pool that will place trades as per the mathematical formula derived by the AI bot which automatically deduces the trends of the trading arena on the basis of machine learning algorithms.

The BITBOSE umbrella will be registered as a bank under the jurisdiction of British Law and will abide by all the laws and regulations of the British common and corporate law. BITBOSE will also be completely compliant with the GDPR laws and will allow the users to download all personal information collected and request its deletion. Complete adherence to KYC/AML regulations will also be a key feature of the BitBose platform to prevent ill-gotten money from becoming a part of the BITBOSE cryptocurrency ecosystem.

The BOSE token can be acquired in any of the three following ways:

 By contributing to the pre-sales (at a higher discount)

 By contributing to the BITBOSE ICO (at lesser discount)

 By buying on Crypto-exchanges (at market price)

BITBOSE EXCHANGE

The BITBOSE exchange allows holders of BOSE tokens to access the market prices of several exchanges from a single platform, within the same interface. Buyers can access the price at which sellers of the desired cryptocurrencies are willing to sell on various exchanges. This will help the buyer choose the best price. Conversely, the seller can access multiple exchanges before selling and thus, gets the best price as well. The interface will remain the same for the contributor at the front-end as all integrations with the different exchanges have been done on the backend. This means that the best bids and the best asks that are visible to the trader do not belong to any one exchange but are sourced from several exchanges simultaneously.

Trades will be executed in a similar fashion. With backend integration, the trader will not have to hop from exchange to exchange to find the best price.

TECHNICAL DETAILS

Behind the frontend is a robust backend that powers the entire BITBOSE platform. At the centre of the platform is the BITBOSE AI Bot that uses machine learning to gradually process larger and larger amount of data from all over the world to enter and exit from positions of the most liquid cryptocurrencies. The results of the trade of the BITBOSE bot will be available for viewing in real-time for all visitors of the website.

BITBOSE Exchange

BOSE tokens can be bought/sold on the BITBOSE Exchange against a host of several other listed cryptocurrencies and FIAT. The BITBOSE Exchange features a trading platform that connect on the backend to various exchanges all over the world through a custom built API that queries the exchange APIs for trading data in real-time. Thus, the best bids from all the connected exchanges are solicited and consolidated into a common list of the best Bids and Asks sourced from the exchanges.