Polybius is a project aimed to create a regulated bank for the digital generation.
Polybius is a project currently in development by Hashcoins which has the aspirations of being the first ever fully functioning crytocurrency digital bank, with all the utilities of a normal bank.
With the support of banking and technology experts, Polybius aims to develop a banking solution that meets the needs of as many users as possible.
First, Polybius will be a modern, digitized bank, aimed at improving convenience, accessibility, communication and security.
For this purpose, Polybius Coin combines elements of modern online banking, Internet of Things, Big Data and blockchain-based technologies.
In addition, the platform should also meet the high security standards of the financial world.
The implementation of the digital passport technology developed by HashCoins creates an automated and digitized ecosystem that enables the integration of entire companies and industries.
Access to required financial and industrial services is also provided by digital passport technology.
In addition, Polybius services are fully integrated with internationally accepted systems, so that customer transaction processing requirements can be met worldwide.
The Polybius Cryptobank project looks to add document circulation on the blockchain and a system for remote verification of the user’s identity for interaction with commercial and governmental structures.
What can be done with the Polybius Coin?
Polybius guarantees all investors at the end of each year a 20% distribution of the profits generated by transactions in the Polybius crypto currency.
Prior to this, the profits are transferred to Ethereum and distributed to the invested users on a pro rata basis with the help of the Smart Contracts.
However, in order to qualify for dividend payments, investors must secure Polybius Coins (PLBT) on an Ethereum-compatible wallet that complies with the ERC20 standard.
However, it is also possible to save on selected file sharing sites. Profits can be generated with PLBT in two different ways.
On the one hand, coins can be held and dividends received. On the other hand, profits are made possible by the sale of coins resulting from price increases.
Who is behind the development of Polybius?
Polybius was founded by Ivan Turygin, the chief developer, and Sergei Potapenko, who is responsible for the development of business models.
In addition, Nikolay Pavlovskiy is one of the chief developers in blockchain development. Vitali Pavlov is responsible for development management.
Renna Reemet is also responsible for the implementation of HashCoin on the platform.
Edgar Bers is responsible for Polybius’ public relations.
Tatjana Potapova, Andrei Veressov, Valentin Savchenko and Pavel Tsihhotski are also members of the management team.
At it’s core PLBT will have many features of a traditional bank such as SWIFT membership for financial to financial transactions, card issuance capabilities and even things like P2P loans and Currency Exchange.
The promise of a profit sharing type smart contract is very interesting and if the process of loans, currency exchange and other banking processes can be streamlined then I welcome it. Check it out for yourself and leave a comment telling me what you think.
You can’t buy it directly for fiat on any exchange. You can choose the best coin exchange for your region and buy BTC there, then trade it for PLBT on exchanges. Read here how you can quickly convert other coins to bitcoin and the other way around.
Our recommendation is always check if Coinbase is available for your country and buy there – as it is by far the safest and best regulated bitcoin exchange. Coinbase is trustworthy and has acceptable fees and it is a leading platform for buying BTC.
If Coinbase doesn’t support your country, use Cex.io – read how Cex.io works – it is a good Coinbase alternative. Coinmama is also safe exchange for buying cryptocurrencies – click here to visit Coinmama.
If your country is not available on Coinbase – check for best Coinbase alternatives (such as Cexio and Indacoin – see here Indacoin exchange review) and buy BTC on one of those exchanges. You can always exchange your coins on Changelly (see if Changelly is legit place to trade crypto), instantly and directly to bitcoin.
Best and safest option to store your coins is to download an official coin wallet and store it on a hardware wallet (if it is supported) – our recommendation is just go and buy Ledger Nano S or Trezor Wallet or KeepKey, those are the safest options. You can read our articles on how to use Ledger Nano S wallet and where to buy it and Trezor Wallet Review or check out other top hardware bitcoin wallets here. You can also create a paper wallet – learn here more about crypto wallets. We have also compared top 3 hardware wallets: Ledger vs Trezor vs KeepKey.
CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com