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This article is the first of a series of articles aimed at providing information about HubrisOne. HubrisOne is a mobile application that collects the benefits of crypto coins and traditional banking system. In this article you can find problems, solutions and values that HubrisOne intends to solve, and find my comments on these.
Idea
The founders of HubrisOne believe that crypto coins and fiat coins will work as one currency in the future as integrated with each other. They also believe that a regulated, reliable and licensed platform is needed to help new investors enter the crypto-money market. On the other hand, both crypto coins have a lack of confidence in each other, which leads to problems.
HubrisOne believes that the traditional banking system should be developed using block chain technology and crypto coins.
The idea of HubrisOne was born of these beliefs to become the first user-friendly digital bank fully harmonized and arranged in the United Kingdom.
Problem
The HubrisOne team believes that there are problems with both currencies.
Crypto Money Market is in Crawling Period
According to the team; lack of regulation, lack of confidence, lack of global financial participation, price volatility and manipulation are the problems arising from the fact that the crypto market is in its infancy.
Trying to Separate Fiat Coins with Crypto Coins
According to the common opinion among crypto money users, crypto coins will replace the fiat currency. On the other hand, the HubrisOne team does not agree with this idea and think that the market has evolved and evolved to find an environment between two currencies. Moreover, they claim that adoption by the mainstream will not be easy without a reliable, secure and regulated solution to legalize the crypto coins.
Banks Have Significant Importance
The global banking system has many positive effects on people's lives, such as offering secure payment networks, helping people to realize their dreams when they are buying something, providing jobs, paying wages, ensuring the movement of money on the world.
The Crypto Money Ecosystem Needs a Bank
We have seen banks, credit card companies and payment processors prohibit users from dealing with crypto-money-related businesses.
Paid and Inadequate Customer Service
According to a study (FIS, 2015), only 23% of the customers are satisfied with their banks globally.
Global Clearing Fees
Banks can receive commissions up to 13% from people who want to transfer money to a different currency.
Profitability of Banks Getting Difficult
Competition is aggressive and fast adapting. Traditional banks now need a 360-degree view of each customer to focus their resources more efficiently (BoC, 2017).
Solutions and Value Added
Increase in Smart Phone Usage and Non-Bankers
There are adults who do not have access to over 2 billion bank accounts. Moreover, according to Statista (2016), smartphone usage will increase from 2.1 billion in 2016 to approximately 2.5 billion in 2019.
Increasing Crypto Money Adoption
The HubrisOne app will help you adopt crypto money with integrated bank accounts. The application's ability to access the crypto money market will make it easier for users to have their own crypto money.
Instant Digital Bank Accounts
With HubrisOne, opening a digital bank account is very easy and fast in regions where GBP, USD and EUR currencies dominate. After completing KYC and AML users will be able to use their own digital accounts. Users will be able to do everything they can with their normal bank accounts.
Instant International Transfers
Stellar block chain will be used in international fund transfers. In this way, people will enjoy an excessive amount of fast money transfers that will take place in seconds instead of 3-5 days by antique processes.
Secure Crypto Money Wallets
Users will be able to store and access crypto coins from the HubrisOne application. Funds will be transferable between HubrisOne bank accounts with crypto money purses and will be globally expendable with HubrisOne atm card.
Secure Digital Account and Card Management
HubrisOne will enable users to do everything they can with their customer representative. This will give users 24/7 full control of their accounts.
Fair and Crypto Money Backed Loans
With the HubrisOne app, users will be able to borrow fiat money in exchange for crypto-money wallets. Credits will be approved / rejected within 2 seconds without the need for credit score control.
Real Time Transaction Monitoring
The HubrisOne app allows users to track transaction history in real time. They will no longer have to wait for monthly card dumps.
Hubris Asset Management Solutions
HubrisOne allows users to consolidate their new and existing portfolios under a single roof, while protecting fund management firms.
Integrated Crypto Money Exchange
With the HubrisOne app you will be offered an automatic swap function that allows instant exchange of 0.6% commissions between bank accounts and crypto-money purses. Up to 200 crypto currencies and selected sub-coins will be available after entry into service.
Third Party Open Market Place
HubrisOne open market place will allow users to connect with other block chain and block chain service providers. These additional services will only be available to HubrisOne Tokens.
Safe Touch-free Personalized Card
Users will be able to adjust their ATM cards to their bank accounts, crypto money wallets or accounts with a few taps from an authorized account. These cards will be able to do everything a bank card does, such as contactless payment, spending anywhere with Visa logo and 24/7 secure account tracking.
### Security and Ownership The
application is built on a very strong security infrastructure, knowing that such an application that hosts the funds of HubrisOne must be highly reliable and secure. Some of these security features include; PCI-DSS Compatibility, 24/7 real-time anti-fraud machine learning account tracking, AML and KYC authentication, encrypted SSL, 2fa, AES-256 encrypted wallets and private keys protected by users.
Summary
As others have said, crypto money is now 'Wild West'. There is no editing and every corner is fraudulent. Scam projects, unregulated service / products and price manipulations cause people to lose their funds. Although it offers great opportunities, the current state of the crypto ecosystem does not appear to be friendly and reassuring to ordinary people outside the crypto world. Therefore, it is a good idea to provide solutions to help legalize crypto coins.
The team believes that crypto coins will not dominate as the main global currency, or that money will not be abandoned. On the other hand, they think that both money will work together in the future. I don't share the same idea with them, but the truth is that it doesn't make this project good or bad. The issue is that this project is realized to see the fiat money as a partner. The solution offered by the traditional banking system can bring lawfulness and reliability to the crypto money.
Banks have been in our lives for more than 200 years and offer many benefits to individuals and institutions. Therefore, combining crypto money with a well-known and trusted infrastructure is a great commercial idea.
On the other hand, the crypto money ecosystem needs banking. This is our bridge to the ecosystem. If it is not a traditional banking system, it will not be able to buy and sell crypto money. Besides, the traditional banking system is not in good relationship with the crypto-related enterprises. Therefore, the HubrisOne solution will perfectly match the crypto community.
Using the Stellar Lumen, one of the fastest and most inexpensive block chain technologies to solve the problem of an exorbitant global swap commission, will make life easier for people who need to perform such operations.
The possibility to do all the services that can be done with the call center operator with the application will improve the customer / user satisfaction. This will lead to attracting more and more customers on its own.
I agree that HubrisOne will help the adoption of crypto money by combining all the traditional banking services and crypto-money trading options that make life easier for users.
Security is the top priority for every application that can control users' funds. HubrisOne is aware of this fact and has implemented the most advanced security measures. This will ensure the sustainability of the reputation gained over time while continuously protecting the funds of the users.
When we look at the progress made so far, it is seen that there are many things completed. It is seen that a few kilometers remain. This increases the reliability of the project.
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