Polybius Bank has announced the addition of Dmitri Laush to the Polybius advisory board. Dmitri is the CEO and Co-Founder of Admiral Markets — a brokering service which was established in Estonia and has been successfully functioning in the global market for more than a decade. He will advise Polybius on the area of assigning services for trade in the derivative markets and on the integration of cryptocurrencies.
The project is on the eve of launching its ICO campaign set to begin on Wednesday, May 31st. For five weeks investors from all over the world will be able to purchase Polybius investment tokens. These tokens will be in the form of a smart contract guaranteeing a share of the bank’s annual profits.
At the heart of the project lies the idea of reinventing the classic bank model using the most up-to-date technologies, including blockchain and specialized artificial intelligence. The Ethereum blockchain will underpin the work of the Polybius investment tokens; banking documentation will operate on the Emercoin blockchain; while AtticLab’s blockchain solutions will be used for bank transactions.
Developing the Polybius bank project has taken more than a year. An international team of technical specialists, bankers and financial technology entrepreneurs from five European countries have been collaborating on this project.
Finance leaders in Europe can be counted among the project’s consultants. They include a team from the Swiss division of EY, the “Big Four” auditor previously known as Ernst & Young, as well as today’s addition of Dmitri Laush.
Even before the ICO launch, the ideas at the core of this project have attracted interest from several potential partners. In particular, one of the biggest scoring agencies in Europe, Creditinfo, has expressed interest in the possibilities offered by the DigiPass digital identification system, an integral part of the Polybius product ecosystem.
The information security will be provided by Betta Security that services Russia’s and CIS biggest banks like Alpha Bank and Sberbank for over 10 years now.
The pool of potential investors in Polybius comes to more than the 500,000-strong user base of cloud mining cryptocurrency service HashFlare — the previous commercially successful business established by the founders of the Polybius Foundation.
The Polybius Bank project business model, taking into account three possible development scenarios depending on the total proceeds of the ICO, predicts a total profit in dividends from Polybius tokens of between 40% and 270% on every token.
In order to take part, users will have to install a Polybius purse from the site polybius.io and purchase tokens with either euros, dollars, or cryptocurrency.