Knabu

ICO Dates TBD

Description

In short, we are a blockchain technology company that has started the authorisation process to be a utility bank in the UK. Our tokens will be sold to the public by auction which will determine the token price. Our minimum funding goal is £30m. The total token supply is 1B tokens of which 750M will be available for sale. We want to enable innovators and future thought leaders to focus more on the quality and strength of their proposition. We will help them do that in two ways. First, actors in the crypto economy should not have to worry about getting a business bank account or the stress of it being closed at short notice due to unjustified ‘risk’. Having an operational commercial bank account in our opinion is a basic right that should not be denied to crypto companies because they are doing something new. At the same time, the bank model is outdated. We are engineering our utility bank to use blockchain technology and build upon decentralised mechanisms that can remove inefficiencies that exist today. Second, we want to enable our economy by building a stake and reputation driven platform where credible token projects are incentivised. This DApp aims to reward and support good actors with community consensus and easy to use tools so that innovators can focus more on the quality and strength of their proposition.A utility bank is also known as a clearing bank. In the UK, clearing banks have settlement accounts with the Bank of England. The entire UK payment system settles across these Bank of England accounts. There are currently only seven UK clearing banks. In the last 250 years, there has only been one clearing bank to enter the UK market. We are looking to further break this monopoly and be the first blockchain technology business to offer clearing. In addition to deposit taking and transaction processing of our own customers, we’ll facilitate the actual movement of money from one account to another between customers of other banks and payment service providers (PSPs). We’ll do this as a B2B business, being direct members of fiat payment schemes (eg Faster Payment and CHAPS). Utility should be the order of the day in providing valuable services and helping the economy to grow. So we plan to introduce products and services which are blockchain aligned and which leverage the efficiencies of self clearing assets towards a universal settlement layer.

 

General
ICO Dates
TBD
Whitelist / KYC
KYC & Whitelist
Country
UK
Ticket
KBU
Token Type
ERC20
Available for Sale
Financial
Accepting
ETH
Soft Cap
2M $
Tokens for sale
750,000,000
Bonuses
1st £10M Tier Up to 30%

2nd £10M Tier Up to 20%

3rd £10M Tier Up to 10%

Team
Gabrielle Patrick
CEO
ADVISORS
Ian Grigg
Advisor
Rod Ashley
Advisor
  • 1
    2016

    FCA Engagement.

  • 2
    Q1 2018

    Utility Bank Authorisation Process.

  • 3
    2019

    TDD DApp Fast Track ICO; KYC Tooling; Turn Key Token Creation; Crowd Incentivization.

  • 4
    2020

    Utility Banking B2B Clearing & Settlement; Electronic UK Payment; schemes access; Electronic Deposits; Payments (Faster, Chaps & SEPA); Digital B2B Banking.