In order to allow the member to work in his profession using the support of the free credit circuit by Vank, the member needs to follow only a 4 steps procedure:
The user must register in to the Vank circuit. The registration is free and gives Vank the possibility to create a network between members of its credit circuit.
The user which gained access to the circuit (after premilinary and due checks made by Vank) obtains the community’s trust and therefore is allowed to spend and receive EURV credits ( a maximum limit of credit is already fixed by Vank for each member).
The user searches inside the Vank circuit and network for all commercial partners (suppliers of goods and services) which can help his/her business to realize his/her activities. The business contacts the partners and starts the commercial agreements (using the EURV credit on the Blockchain as an exchange currency) in order to get goods and services he/she needs for his/her productive cycles.
Using the goods and services acquired he/she completes the productive cycle and then sells one part of his/her goods and services inside the Vank circuit (where they will be sold in EURV) and another part in the free market (where they will be sold in EURO or the local currency). In the single sale, inside the Vank circuit, the vendor/buyer decides freely the total percentage of EURV they will use for the transaction.
For the remaining part they will have the possibility to use “Fiat” currency (in other words local legal tender) or the main cryptocurrencies (Bitcoin, Ethereum, Dash, Litecoin, Ripple e Bitcoin Cash). The business, thanks to its membership to the Vank circuit, has then more liquidity in local currency. In fact the member has not spent his/her liquidity for getting what was needed. This extra liquidity can then be used.
The engine of the Vank project is represented by EURV credit based on a Blockchain system, whereas the petrol (using a term taken from Ethereum, the real source of inspiration for our project is based on our cryptocurrency VANK. The tokens are used to pay the fees inside the circuit. These fees are equal to 1% of the transactions and must be paid both from the buyer and seller. Therefore, Vank earns a total amount of a 2% fee on the transactions made inside the platform. In addition we have created a smart contract EURV/VANK that will automatically give to both members the amount of fees paid in EURV back. Therefore the fees will be totally be given back in EURV and the users will immediately have the possibility to spend the credit they received back. This will permanently transform the Vank circuit in a free circuit for all registered members.
Vank is different from our competitors because, in order to use our circuit, we will not ask you to pay annual memberships or any other fees.
In order to develop this important project, Vank is aiming to attract funds from private investors , through the collocation of shares, EU funds, crowdfunding activities or the sells of VANK tokens to members.
Our final target is not the creation of a speculative idea but we really believe in the possibility to create and build a steady, reliable, ethic an unique project.
The Wallet, which is an electronic wallet, will manage the VANK and ETH cryptocurrency. It will allow sending, depositing and checking the amount of cryptocurrency deposited inside the wallet. It will be possible to send a specific quantity of cryptocurrencies, at your own will, (even decimals) to other Ethereum Wallets or other multicurrency Wallets which are compliant with the ERC20 standard.
Vank observes the newest and highest safety standards. It will use a wallet with a 2 factor authentication (2FA) which will allow the user to login having a double authentication of his/her identity.
The Exchange of VANK wants to be a tool for creating and preserving the cryptocurrency value, therefore favoring the exchange and trading of VANK cryptocurrency in the free market. The Exchange, subject to the authentication of the user, will allow the purchase and sale of VANK cryptocurrency exchanging it with ETH (ETHER) and vice versa, and also the monitoring of the personal account.
The VANK cryptocurrency can be used for purchasing goods through the use of its associated debt card. The credit card will be created by a global supplier specialized in payments solutions. It will be chosen among those suppliers who are leaders in cryptography and in electronic elaboration technology for payments.