Arisebank is a decentralized blockchain based banking system that allows its users to have fast transactions securely.
|Description||Arisebank is a decentralized blockchain based banking system that allows its users to have fast transactions securely.|
|ICO Launch||2017/12/26 05:00|
|ICO Closing||2018/01/27 05:00|
|Token Platform||ETH (ERC20)|
|Funding Target||$500 Million|
Are you looking to make quick profits? Have you ever tried investing in digital currency? If not, then consider investing in ICOs. Investment in ICOs is more profitable than any other form of investment these days. It doesn’t only brings you quick profits but also increases your capital really fast. However, selecting a bad ICO can also lead you to incur losses. Therefore, it is crucial to invest your money in an ICO that appears to have a strong workable objective and a potentially prosperous future. In this piece, we discuss a very good opportunity i.e. AriseBank’s ICO.
What Is AriseBank?
AriseBank is a decentralized blockchain based banking system that allows its users to have fast transactions securely. The platform offers complete anonymity to its users. Indeed, no other traditional or cryptocurrency bank has the same feature available. Being based on the blockchain, the platform intends to incorporate cryptocurrency landscape globally making digital money more prosperous than ever. The company plans to offer its services in collaboration with its global partners such as VISA and Marqeta with its physical offices being based in Dubai and Dallas. As per the company it claims to be “more than just an idea”.
AriseBank is the world’s first blockchain based decentralized platform that intends to provide its customers a complete cryptocurrency banking solution. The services of the platform include aiExchanger, Arise ID, AriseCard, aEX, aTransfer, aTMs, aPay, aPocket and some more. aBank is a purely decentralized banking system that is never hosted in Arise data center making the team behind AriseBank unable to touch one’s money. AriseBank is hosted on user’s mobile devices and desktops. The platform also offers all other services that a traditional bank is supposed to provide.
How Does AriseBank Work?
Using blockchain technology, the AriseBank allow its users to remain anonymous while making transactions. In other words, the bank has your transactional record and a number as your ID without knowing who in actual you are?
The platform also offers an aEX application that is specifically designed for investors wishing to trade cryptocurrency assets. Some other apps such as AIExchange and aTransfer enable users to transfer funds faster and in a secured way than they could have transferred using any other traditional bank.
The AriseBank also offers a service named as aPay that help users to buy and sell various products online using their cryptocurrencies. One may think it to be the same as that of a PayPal. The aPocket is a hardware device designed to serve the purpose of a wallet in which users can store their 700 plus cryptocurrencies by keeping the hardware preserved in their homes.
Earn AriseBank Tokens
The ICO is expected to be offering its tokens to the public following two phases of sales. To earn AriseBank tokens, investors need to participate in the public token sale of the ICO. People can also earn AriseBank tokens by getting themselves registered in the pre-sale phase of the ICO.
Buy AriseBank Tokens
AriseBank is based on ERC20 tokens. The supported currency of the ICO is ethereum that needs to be stored in electronic wallets. Investors who wish to buy AriseBank tokens are required to open an e-wallet account first before they buy AriseBank tokens and hold them in it. Many exchanges around the world offer free cryptocurrency wallets these days. People are advised in their own interest to open an e-wallet account only after ensuring that the exchange they are opening their e-wallet with is legitimate.
The ICO Distribution
The ICO was planned to be launched in December last year. Its pre-sale phase occurred in November 2017. It was anticipated that the ICO public sale will last for about a month starting from December 26th, 2017 and ending on January 27th, 2018. The ICO has a plan to raise a minimum of 500 US dollars. The starting price of the ICO was expected to be $1.40 per token. It was even available for $1.20 in its pre-sale phase.
As a part of recent development, the US Securities and Exchange Commission has shut down the ICO suspecting it to be an alleged scam. As per the official statement released by the SEC, it is expressed as a matter of concern that the AriseBank doesn’t seem to be registered with any securities or banking regulators. It appears to have fabricated documentation and agreement with various banks that even doesn’t exist.
Owing to the fact that the ICO’s official website has been taken down from the internet, it was not possible for us to mention the ICO token distribution. We, therefore, suggest people should wait until more developments occur in this regard. Why we say so? Because as per a recent statement issued by the proposed CEO of the ICO stating that the AriseBank is not a scam, in fact, it is a victim of libel and slander. Furthermore, there is a press released by the ICO claiming that “it had acquired a Federal Deposit Insurance Corporation insured bank holding company”.
Usage of Funds
We cannot say anything concerning the planned usage of funds by the ICO. The platform is blamed to abuse allegedly $600 Million funds out of $1 Billion target funding. The issue is yet to be resolved, therefore, expressing anything about the fund’s usage doesn’t worth at times.
Team Members of the ICO
Until the ICO’s website is restored or obtains a clearance certificate, we are unable to present any information concerning the team members of the ICO. We at times only know Jared Rice being the proposed CEO of the AriseBank.
Invest In AriseBank
After a careful review of the ICO, we hereby conclude that everything was just fine as far as the objective and planned fundraising schedule and setup of the ICO is concerned. But with the recent development when SEC has shut down almost all operation of the ICO including its official website, we would not suggest people to invest in AriseBank until everything becomes clear.