The  Mobile Money Remittance System Bank4YOU ICO Review

Thứ Hai, 5 tháng 3, 2018
Bank4YOU Group is an international group of financial companies that has been successfully operating in the electronic payment services industry since 2013. It includes units that develop dynamic business relationships with key partners in the markets of Southeast Asia and South-East Africa. The main field of activity is the provision of mobile banking services around the world.

Bank4YOU Token

What is MMR and BFY?

Versatile Money Remittance (MMR) is an inner token of the portable installment framework, in which exchanges will be made. The designers have discovered a magnificent answer for how to evade the instability of the course, in light of the fact that for the framework’s installment framework this wonder is very unfortunate. That is the reason the token is connected to the genuine cash resources and minutes of the portable administrator. For every particular exchange, the required number of MMR tokens will be issued, which will then be traded for the required fiat cash.

In parallel with MMR, there will be another BFY token in the framework. Its designers chose to execute all together not to deny speculators and dealers of the chance to play on the course. Dissimilar to MMR, BFY won’t be steady in its course and has no official to anything.

The inside cash will be called MMR — Mobile cash settlement. The installment capacity of such cash is in this manner guaranteed by the installment limit of the money in the record Bank4YOU Group for versatile administrators (see — Consortium of portable administrators Bank4YOU Group), chiefly USD. The MMR is issued just for stored fiat cash and will be uninhibitedly convertible to any installment implies in the regions of various nations: cash, portable cash, broadcast appointment minutes, contingent upon the client’s needs and the specifics of the neighborhood showcase. Change rates are controlled by Bank4YOU Group in association with versatile administrators, the trade is performed utilizing a portable application. On account of a settled swapping scale, MMR is shielded from unpredictability.

The principle part of the framework is a token, which is connected to the money of the nation where the beneficiary is found. It is he who helps rapidly and dependably, and above all it is shabby to get and exchange cash.

For those wishing to get long haul benefit from the framework’s activity, an ICO token Bank4YOU Group (BFY) on the Ethereum stage will be directed. The BFY token will enable you to benefit from the action of the exchange framework and from other monetary exchanges. What’s more, it will permit to get rebates for the buy of MMR, that is less expensive administrations of cross-outskirt exchanges

  • The BFY token will give you the right to receive:
  • The part of the income received from banking activities of Bank4YOU Group;
  • Discounts for the purchase of MMR;
  • Part of the total turnover of the system of international money transfers

ICO Condition

  • Start on 11/6/2017
  • Expiration date is 31/03/2018
  • Token — BFY
  • Platform — Ethereum
  • Type — ERC20
  • Current rate 1 BFY = 0.21 USD
  • Tokenov for sale — 240 million
  • Total number of tokens 300 million
  • The minimum deposit is 100 USD.
  • Accept — only ETH, BTC
  • Bank4You platform

Bank4YOU Group is an international group of financial companies that has been successfully operating in the electronic payment services industry since 2013. It includes units that develop dynamic business relationships with key partners in the markets of Southeast Asia and South-East Africa. The main field of activity is the provision of mobile banking services around the world.

Bank4YOU Group — helps clients to forget about the bureaucracy that is associated with the discovery bank accounts and offers convenient procedures, significantly saving customers time.

Bank4YOU Group — owns its own card system based on Visa cards, with a full
mobile banking, which includes both the possibility of free money transfers around the world, as well as concierge services and other advantages.

How does it work

Bank4YOU Group plans to provide financial guarantees to mobile operators (both global and local). The principle is based on purchasing the time of a mobile operator and obtaining a discount by attracting large volumes of orders. The money will be sent to local mobile operators from new customers, through a new channel — Bank4YOU Group . Thanks to the discount and dealer agreement, the turnover of the mobile operator will be significantly increased due to a significant increase in the number of transactions made by users of money transfer services.


A payment facility will be implemented on the basis of blocking technology (digital tokens), which will be freely convertible into a currency, mobile money and airtime minutes first in individual states and then all over the world.

Reduction of commission
According to the aforementioned GSMA report on international transfers using mobile money, the average price for transfer from a country to the country is 2.7% (excluding the cash withdrawal rate) for amounts over $ 200 (amounts less than $ 200 are more expensive to translate, the lower is the amount , the greater part of it is lost when translated).
Technological advantages of the network blockage provide the ability to carry out transactions much cheaper. Commission fees for transfers in the Ethereum network, for example, are regulated in a special way so that the transfer price is always low regardless of the price of Ethereum:

That allows you to offer lower fees even compared to mobile money technology (for example, M-PESA charges a fixed fee of $ 0.4 USD for P2P transfers and a withdrawal fee of $ 0.3 for withdrawals in the amount of up to $ 33), especially if there is no need for an instant transaction (in the case of increasing the transaction confirmation time to 5 minutes, the commission is significantly reduced).
Apparently, the price of translation in a public blockchain Ethereum is much cheaper than the price for the transfer of any of the systems under consideration. (see the diagram of Average remittances costs for global MTOs and mobile money providers).

Problems and solutions

Issue 1:
For the free functioning of the system of transfers within and outside the state, there should be no restrictions on the part of the financial regulator of this state (central bank), as well as open markets.

The technological advantage of solutions on the network of blockrooms is that, for functioning as a means of payment, they do not require representation in any country or legislative consolidation of their presence. Restrictions in the form of a ban will create a black market for electronic means of payment, which is likely to complicate their use, but will not stop completely. Technologically, blocking a solution is possible only by completely banning network communications at the transport level. Such advantages of technology provide a huge potential for creating open markets without borders.

Issue 2:
For banking services, a large number of digital infrastructure and user identification tools are needed.

Similarly to mobile money systems, it is proposed to use the existing hardware base: smartphones with a fingerprint scanner and camera provide both Internet access for carrying out transactions of various types, and the possibility of biometric identification of the user. In essence, the paradigm shift addresses the problem of users accessing traditional banking services not by building new branches in hard-to-reach sparsely populated areas, but by bringing banking services to mobile users’ phones.

Issue 3:
Existing systems do not provide an opportunity to carry out cross-border transfers in any direction, the cost of services can be reduced.


To solve the problems of users it is necessary to ensure:
Minimum volatility of means of payment within the system
A lower price for translation services than alternative services
Simplicity of converting payment means of the system to other means of payment and simplicity
B2C Interactions


The purpose of the Mobile Money Remittance System project fromBank4YOU Group is to say a new word in the world of international transfers and finteha, and to give access to fast, convenient, safe payments to millions of clients from developing and young economies. Our solution for millions of people in Africa, Latin America and Asia lies in the mobile phone, and through it opens not only access to international transfers, but also to crypto-currencies.

Advantages of Mobile Money Remittance System

Mobile Money Remittance System changes the way money is transferred. Blockchain technology provides fast and secure money transactions without commissions.

• Innovative electronic payment system
This allows for secure cross-border transfers of mobile money.

• Fast. Reliable. Cheap.
The system of tokens is tied to local currencies, providing fast, reliable and cheap money transfers.

• Cashing in local currency
Or products of the local mobile Operator: (mobile money and airtime).

• Increased level of user confidence
A simple and clear mechanism for converting fiat into electronic currencies.

• Unique and inconspicuous operation of the system
Transactions between customers, settlement of transactions between partners.

• Guaranteed stability of exchange rates
Tokens are issued only when the system receives money fiat.

It is proposed to organize a private Blockchain system as follows: virtual divisions of the Bank4YOU Group (private nodes) will serve as nodes for checking transactions in the consortium of Organizations participating in the international payments system. They will provide fast and cheap verification of transactions made by other members of the network. It is expected that as the popularity of the system grows, mobile operators will have an economic incentive to place peer-to-peer nodes in their data centers. This can significantly reduce the transaction costs associated with money circulation.

The organization of a private Blockchain system may even further (in comparison with the public Blockchain) reduce the fee for remittances over the network.

Private Block Architecture

Consortium of mobile operators Bank4YOU Group

A consortium of mobile operators will be created to introduce a new means of payment into existing payment systems, in particular, to the mobile money system, and thus provide users with access to the technological and economic advantages of the detachments.

All mobile operators that have concluded partnership agreements will be able to provide their subscribers with the opportunity to accept or send cross-border payments to subscribers of all other cooperating mobile operators. This will provide the operator’s subscribers the opportunity to send international transfers to subscribers of all partner operators, and operators to expand the range of services offered

The proposed solution also provides the opportunity to integrate a new payment facility (cryptotenes) with existing mobile banking and card transfer systems, which will provide multiple points of contact for users, convenience and reliability of use.

More detailed introduction to Bank4YOU:



My ETH: 0xC3AF64F15C4a5D6772C320B2D523b889878ba145

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