Bullshit detector: what's happening with Polybius after ICO?
10/02/2017

Overview from the team kript.io


What is Polybius: a digital bank.

They want to create a European bank without branches with 24/7 access from anywhere in the world. Their main difference from already existing banks — Polybius promises to help crypto projects. They are going to give them loans for development secured by cryptocurrency. They will also offer traditional services for clients such as deposits, loans, and bank cards.

They need a blockchain to store clients' personal data safely. All collected information will be verified and provided to banks, insurance companies, and government institutions but only with a customer's permission. They also involve AI: neural networks will determine the creditworthiness of the clients.
Website: polybius.io

Token trading: 6th July, 2017.

Where to buy tokens: Livecoin, YoBit, HitBTC.

Token price: -49,94%.

How much they planned to make/made: from $1,5 to $100 million / $31,64 million, 27 thousand investors.

What their token gives you:
the right for dividends. The developers plan to transfer to investors 20% of the profit annually.

What will happen to tokens: of the initially created 20 million PLBT tokens they sold 16,35 million. All unsold tokens were burnt after the ICO.
What they promised/made in the first stage (there were no specific deadlines at all):
pay bounty — ✔️
Authorized Payment Institution (A.P.I.) —✖️
P2P loans —✖️
investment portfolios—✖️
EBA clearing —✖️
SWIFT membership —✖️
EPC rulebooks —✖️
Review after ICO:

there are no specific deadlines for the development of the project in their roadmap. In social networks, they don't mention it either. According to white paper, it takes approximately from 3 to 9 months to obtain a license;

after the ICO, the communication with an audience almost came to an end. First, they blew off bitcointalk, then medium, twitter, and facebook. But they published a post recently on Facebook saying that all communication will be via Telegram. Most of the time their posts appear on the Russian website Geektimes;

judging by the post in their blog dated back to July and other messages on the social networks, we can notice that the developers are still searching and hiring employees. They also are choosing jurisdiction for obtaining the license;

at least, in Autumn, they promise to unveil some news about the project: the name of a CEO, a detailed plan of the development, a location of the bank, etc. The developers planned that a year after the ICO, approximately in summer 2018, the bank would start to pay off current expenses.
Communication: twitter, facebook, telegram, medium, geektimes

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