Datarius Cryptobank is the first social P2P cryptobank with transparent conditions. It is being developed by the fintech company, iCrypto S.A., with the aim to demonstrate that fintech can be completely different by deciding to not impose any services on the user. In the cryptobanking industry, Datarius will become the first financial institution capable of offering its customers a full range of financial services implemented within a decentralized system.
The DTRC token (Datarius Credit), a utility token based on the ERC-20 smart contract of the Ethereum network will be the only tool for participating in the Datarius decentralized banking system. The nominal value of the DTRC token is pegged at $0.01 during the initial coin offering that is scheduled to run between March 05, 2018 and April 05, 2018.
Datarius’ vision is to provide people all over the world with fair access to a maximum amount of financial products. Datarius Cryptobank will also help in solving major problems such as lack of transparency, high charges and lack of communication which are currently prevalent in the traditional banking industry. The project is aiming to work on the global scale and is said to integrate crypto and fiat currencies into a single platform.
Datarius, built on the Ethereum platform, is completely decentralized and secure. As a result, it is largely beyond the jurisdiction of regional and national authorities. Datarius Cryptobank seeks to revolutionize the age-old banking industry with its own personal banking services which will be available on its platform.
Datarius will provide three listings with different trust levels, varying from the borrowers minimally verified by the system algorithms to the completely transparent borrowers, thoroughly reviewed by the project’s Risk Department. The Datarius project is intended as a unique social fintech project as the cost of all its services will be built by the users independently with no interference by the team. It is the only project providing its users with the opportunity to create the service value chain by themselves. Any user, at almost any step, will be able to order an additional service provided directly by the bank.
Another significant part of Datarius mission is to provide the world with access to major financial instruments in a P2P transaction format. The money to be transferred is debited from the sender’s wallet and credited to the receiver’s wallet directly. There is no intermediary or even interference of a bank or financial authority in such a P2P payment system. This reduces transfer costs and fees that would be charged by banks for enabling and processing the payment transfer.