Datarius closed the pre-ITO over a month ago. And we should say, it was finished very successfully – the project raised over $ 500,000, four times the projected SoftCap level that was quite limited for this stage. The round was preceded by seven months of work on the project development and three months of the active advertising campaign.
Datarius is the first social p2p cryptobank. Actually, the word “social” should be primarily emphasized. You can see a large number of cryptobanks actively emerging on the market. In this respect, 2018 promises to be the year of the first commercial releases. However, so far no one cares so much about the fintech socialization, as the Datarius project team does. What is the “socialization” and is it really necessary? Yes, indeed.
The direct user interaction between each other is no longer a unique model, including in the finance. At the same time, most competitors simply copy classical models and transfer them to the blockchain. Datarius is different. The project team decided to entirely avoid strict regulation, reserving only the website technical support and providing a wide range of related services on an equal basis with other project’s partners. Thus, the team plans to completely address the traditional systems’ shortcomings – lobbying and toxic assets promotion. No more product line imposed on the customer, no document packages binding on everybody, no template correspondence, and forcing high paying partners. Lenders will make their own decisions based on a huge amount of input data and will vote with a dollar for one or another application. Users will have the freedom to choose the most appropriate terms and conditions to borrow funds. And if any participant doubts – he can always consult analysts, risk managers, databases, credit and user ratings, the whole history of transactions and expert opinion – not one and not just of the project’s staff. Datarius will provide three listings with different trust levels – from the borrowers minimally verified by the system algorithms and to the completely transparent borrowers, thoroughly reviewed by the project’s Risk Department. Any interested user, at any time, can personally order one or another related service – in-depth computer evaluation, evaluation by project partners, evaluation by the Risk Department, evaluation by user-managers and so on. The results will be immediately available to all other users. Accordingly, one or another application can automatically shift from one listing to another in keeping with the wishes of the project participants, and not merely as preferred by the submitting user. If the user needs no additional services, we will charge just a symbolic fee. This model will allow partner projects, including blockchain, as well as simple professional users or trained users, to independently determine the cost of their services and to earn with the project, acting both as a project participant and as a consumer of the project services.
The Datarius team is the first and the only one to identify the integration of the social function Trust Limits as its highest priority. The implementation of this function will allow all users to outline the conditions related to the use of their funds by third parties. The Condition Designer will allow both to establish the classic Trust Limit used for regular micropayments to deemed trusted recipients, and to use it for the automated microlending. Now when using services of a writer for your blog, you have no need to choose between two options: to pay for each article written or to make an advance payment. It will be enough to set a limit for a daily write-off and a maximum monthly write-off for a certain user. All you have to do is monitoring. If you have some surplus funds, there is no need to select an offsetting order on the exchange – you are enough to set a rule for a certain user group or all users, underlying the required conditions (minimum rating score, verification level of the limit recipients, minimum-maximum term, % rate or its absence, targeted/non-targeted use, possibility to withdraw funds from the ecosystem, etc.). The system will automatically notify eligible users of the possibility and conditions to use the limit, and will automatically offer to use the limit in case of lack of their own funds upon the invoice receipt. You’ll experience total non-interference by the team, only a set of user conditions and a customer choice. Isn’t that a freedom and sociality of the fintech?
The format allows us to describe only the key differences. The traditional financial instruments used in the project have been revised and adapted. They have imbibed the basic idea of the project. More details can be found in the WP and discussed in the group, where the project founders regularly answer the community’s thorny questions. This point is also a distinguishing feature of a socially oriented project.
Speaking of the team, such a dynamic development of the idea was possible outright thanks to a strong creative team of like-minded people and a pool of advisers that joined the project. Let’s see what the participants think about the project:
Alexey Vuyko (COO):
I have 15 years of successful career in various financial institutions under mys belt. The specialization is different, the format is the same: vertical structures; over-regulation, limited authority, staffing tables, functional responsibilities, perspective to move to grade +1 … Could the next employer be like the previous one? Fortunately, no! The company iCryptoSA is totally different. TOTALLY really means TOTALLY: from the company’s corporate structure to a completely new product to be revealed to the world in the near future. This will be a bank free of all the shortcomings identified with classical banking: high fees, biased rules, queues, geographic attachment, long transactions, lack of trust, limited tools, etc.
I was really glad to join the team of professionals and to find personal fulfillment at an entirely new level.
The project attracted me by its revolutionary innovation, scale, complexity and, if you like, audacity. I feel comfortable with diverse complex professional challenges and enjoy the achievements on the verge of creativity and risk. I am pleased to work in a team of like-minded professionals at the forefront of financial technologies. I expect the project to be challenging and full of sizeable achievements. It means a lot to me to be part of a new ecological system in business, to work for results and to change the world for the better. And Datarius gives me this opportunity. #Cryptorize!
Ruslan Vasyutin (СМО):
I thank my lucky stars to be in the Datarius team! Working within the same company and in the same position of the top manager for the last 10 years, I started to notice that my development was stagnating. In this regard, I became more open to innovation in my career. And what could be more perfect in this case than being literally on the cutting edge of ultra modern business?!
I’ve got a great opportunity to develop every day and to enjoy my personal growth. I am very glad that my “classic” top management experience at the insurance company can be effectively used here, in particular, in the development and implementation of the marketing strategy, institutional development, international project management, and teamwork. Datarius provides me not only with my favorite work, but also with a wonderful team, interesting tasks, many professional challenges and involvement in a new paradigm of financial culture.
The ecosystem, which Datarius successfully develops, is essential to society at the current stage of its development. This is a progressive stage in terms of increased confidence in financial institutions, in the state and in each other! I am confident that the project will give me and all its participants many more opportunities for self-fulfilment and reasons to look forward with pride.
Expert opinion of Jason Hung (MBAT Bank Chairman & Co-founder):
The traditional financial institutions and their clients have had unequal relations for a long time. Today, the famous banks compared with the banks one hundred years ago have not made any significant progress in the nature of their service and their service modes, except for the more magnificent decoration and higher office buildings. Traditional financial institutions will only make Icing on the cake, but never offer fuel in snowy. There is no substantive contribution to future needs from the world. Due to the centralized credit evaluation mechanism, the centralized financial institutions can not fulfill the ever-changing future of innovation, so centralized financial institutions have become increasingly inconsistent with the needs of the future. Datarius P2P financial platform let me see the possibility of new financial institutions in the near future. The peculiarities of the blockchain are a good foundation for future financial services, and then what we need is a finance-professional team with advanced blockchain technology and innovation idea to prepare for the future of the world. Datarius team is strong, professional, hard working and groundbreaking qualities which is one of my favorite blockchain projects.
Expert opinion of Dmitry Dzherikhov (Head of Sales and Trading Millenium Capital):
I firmly believe that classical banking will lose its marketshare over time as well as classical way of money and value. It is obvious already today that cryptocurrency holds big portion in many investment portfolios. Thus, cryptobanking is natural reach to service that cryptocurrency as well as other P2P assignments covered by classic banking today.
Returning to the project’s prospects. As far back as January, the team made an executive decision to launch the product as soon as possible. The launch will be effected through the integration of the DTRC token into a classic core, which has been under the development of the large studio аrtARTERY with an extensive experience in developing classical banking applications since mid-2017. The project will simultaneously develop its own blockchain – the duration of this process will depend directly on the results of the main round. This will ensure the launch of Datarius and will prevent it from becoming another neverending project. Though the main round hasn’t finished yet, the company has already submitted an application for a DPL license, which completely covers the legal framework for implementing and launching a commercial version of an ecosystem with its basic functionality, including all the project’s social functions and key integrations. The limited token emission and ensured lack of additional rounds in addition to the team’s strategic goals to celebrate 1,000,000 users as early as 2019 – the only risk all this involves is the risk of failure to become the holder of probably one of the popular tokens of the near future.
From the interview for the cryptoanalyst: “We believe in what we are doing and we are confident that the format of the fintech we propose is the format of the future.”
The main ITO round will start on March 5, 2018 at 12:12 UTC. Visit datarius.io sign up and participate. Demonstrate by your participation that the old banking system is dying. Any contribution is of high value. #Cryptorize!