CAPVERTO - BANKING FOR THE FUTURE

tedotwijaya (8)in #ico • 6 years ago

Hello steemit community!

Capverto is an open source framework that can be developed to create blockchain applications. This is designed to allow you, your company or your government to build a chain of private blocks or customized permits.

What is Capverto?

Prepaid Card Program:CAPVERTO prepaid cards are bridges between fiat money and cryptocurrency. Each cardholder receives an amount of CAP utility tokens corresponding to the tier of the card purchased, starting at $100 for the basic blue card. Like a regular payment card, the CAPVERTO card can be used for in-store and online purchases, while up to 2 percent of every transaction is reinvested into CAP, influencing the token's value. There is also a full-fledged rewards system enabling direct discounts at affiliated merchants.

For most readers of this article, the ability to store money in a bank, credit union, other traditional financial institution, or even a crypto wallet is a given. Most find it simple to take full advantage of the robust tools and features offered by the modern banking system. However, the 700 million people who, due to advances in modern technology and banking accessibility, opened their first bank account between 2011 and 2014 likely see their newly accessed security and flexibility more as a privilege. Unfortunately, there are still 2 billion “unbanked” people in the world. Many are in developing nations. But some, 9 million, in fact, are living in the United States. These individuals are joined by another 24.5 million US residents who are “underbanked”, meaning they don’t have the fiscal resources to take full advantage of the opportunities banking affords, forcing them to turn to less scrupulous money managers, options like payday lenders, pawn shops, and micro creditors. This results in as much as 5 percent of their income going toward accessing the money they have earned. It is a broken system, and one Capverto seeks to change. Cryptocurrency has long been touted as a viable alternative to traditional banking, especially for populations with limited financial, transportation, or technological resources. The advantages of crypto: lower and fewer transaction fees, an immutable blockchain ledger recording all transactions, and smooth, reliable account access, are there. But up until now, cryptocurrency has not specifically targeted the needs of the unbanked and the underbanked. Capverto and its CAP token have been specifically designed to target these people groups through a system that marries the scalability and accessibility of traditional fiat money with the technical elegance of cryptocurrency.

The Capverto prepaid card program
At the core of the Capverto platform is a prepaid card. The prepaid card, or gift card, is a newly prominent, yet robust financial tool that has grown exponentially over the past two decades. The market is projected to exceed $3 trillion in the next 4 years. Gift cards and prepaid cards have met an existing need for flexibility, accessibility, and guaranteed low transaction fees. The Capverto card is a multi-tiered, internationally available tool that links fiat payments with cryptocurrency wallets, storage, and cash/token management. Capverto plans to integrate its prepaid card from the start of the program in an effort to create an accessible service for the 2 billion people worldwide who need such a tool. The card tiers are color coded for simplicity and ease of navigation. Capverto’s most basic card is blue, followed by gold, platinum, and black. Platinum and black are invitation only options. The blue card is priced at $100 through the ICO, with that amount transitioning to CAP utility tokens upon purchase. The CAP tokens must be held for a six month minimum. This is an advantage for card holders, as the CAP value will increase with increased transactions on both Capverto exchange accounts and fiat-like purchases. CAP-linked cards are also used to reinvest up to 2 percent of the transaction value into the platform every time the card is used. This enables a cash back rewards system for transactional users of the platform when they use the card at linked retail and service establishments.

Bringing it all together within the Capverto platform
With the Capverto prepaid card, the problems of fiat-crypto exchange, a need for financial incentives rather than penalties for unbanked people, and the sustainability of the CAP token are solved. Users can additionally take advantage of other features Capverto offers, such as transferability, P2P lending and borrowing, and insurance beyond the security the blockchain platform provides. In other words, using the Capverto prepaid card option is not just a tool to fulfill the immediate needs of the underbanked. It is a doorway to new opportunities and options for their money management, one that in the traditional banking world, would never have been attainable for them. Capverto’s prepaid card has the potential to change people’s financial future for the better.
Comprehensive managing an account frameworks are motors of monetary development and destitution decrease. Without access to the full range of managing an account administration, unbanked populaces must turn to outlets like microcredit systems and payday banks to satisfy their money-related necessities regardless of the high loan fees, soak charges and constrained by and large adaptability of such choices.The unbanked require more attractive, more adaptable choices.Cryptographic forms of money hold impressive guarantee in these regards. They don’t require the mind-boggling framework and administration of customarily brought together back, nor do members in their ICOs need to have broad monetary chronicles or travel face to face to any branch workplaces — both normal hindrances for unbanked people.Interest is regularly as clear as passing a couple of security checks to open an online record, and it accompanies the focal advantage of less and lower exchange expenses.To date, advanced monetary forms have picked up footing by decentralizing and streamlining the money related undertakings that once went solely through conventional organizations and on account of installment card utilize were expensive on the grounds that they required numerous gatherings to process. In any case, these tasks have not yet particularly focused on the necessities of the unbanked/underbanked.

Token Distribution