AI BANK - Global Decentralized Bank with Artificial Intelligence

PRESENTATION

Blockchain technologies, or distributed ledger technologies (DLT), have developed rapidly over the past few years. Starting in 2009 with Bitcoin, a decentralized digital currency (cryptocurrency), the technology has developed beyond a global payments system and started to also impact other areas, such as access to finance, supply chain management, digital identities, land registries or aid, through decentralized applications (dApps). Blockchain technologies may provide traditional financial services and business processes at much lower cost and with greater speed, security and transparency. Some traditional financial institutions are already starting to apply the technology to their business processes, but also other industries, such as agriculture, health care and transportation, are moving quickly toward trialing blockchain projects.

Artificial intelligence (AI) is the simulation of human intelligence processes by machines, especially computer systems. These processes include learning; the acquisition of information and rules for using the information, reasoning ''using rules to reach approximate or definite conclusions'' and self-correction.

Machines are getting smarter globally. Thanks to thriving Artificial Intelligence (AI) concept, companies can make their devices more powerful and intelligent to serve their customers in a better way.

Global banks look at millions of suspicious transactions every year, so it's a very inefficient way of keeping the bad guys out of the financial system, With Artificial Intelligence (AI), This can be done much faster without been exposed to human error.

The penetration of AI in the banking sector is somewhat limited to date. The distinct data sets and the risk of confidential data are primarily responsible for the sluggishness of AI integration in the banking system.

WHAT IS AI BANK?

The idea for the AI Bank has been influenced by one Mohammad Yonus. Yonus, creator of the Grameen Bank, changed the way banks perceived loans and established the basis of microfinance. Although his ideas have helped many people, more evolution is needed to bring banking services to people that still cannot find their way to finance solutions. The only to do so, as per the AI Bank and many leading experts, is the complete decentralization of the banking process, something that allows the customers to initiate complete control and completely do away with human involvement. The results are not just efficient and entirely free of human errors, but they are also very fast. That’s just what the AI Bank is going for.

Furthermore, The AI Bank, a completely decentralized global financial entity, has announced its innovative plans which, according to the bank, aim to revolutionize the areas of banking and finance. It’s a completely new idea that many have called the next step in financial evolution, while others consider it to be a reflection of current norms and a culmination of recent technological trends and advancements. However, the general consensus appears to confirm that the idea of a decentralized bank that entirely operates with artificial intelligence is highly ambitious.

THE AIM

The AI Bank is a highly ambitious project that aims to not just revolutionize and change the financial world, but also bring about positive change for humanity as well. It’s a non-profit start-up that aims to empower people who could not normally avail financial opportunities, with microloan and banking services that are aimed to help them in their work, their lives, and also improve their living conditions. The AI Bank hopes to be the change that it feels the world needs right now not just to change, but also to improve. It’s an ambitious project that brings its weight with focus towards human needs and solutions that aim to satisfy them with exemplary service.

Autonomy

It doesn't matter during which jurisdiction the consumer is found.
All processes are fully automated. AI bank will settle for and issue cash in any currency of the globe and main cryptocurrencies.

Providing funds

Since the classification system are going to be supported AI, its use will be identical to banking conditions. At identical time, the risk of non-return will be reduced from the risk of 10% of MFIs to the risk of 2% of our product which will work on artificial intelligence.

Speed

Traditional loans square measure issued in 1-2 applications for 2-3 documents.
Recent studies claim that AI will already assess individuals higher than individuals themselves do. Therefore, the verification of documents becomes a formality.It is way more necessary to guage what someone is.

Scalability

The loan market is growing and also the project will certainly be in demand and knowledge growth. This, in turn, can result in birthing the muse for growth and development in it as before long as potential. We are already laying the potential for growth and the possibility of scaling up a business. Since it'll be absolutely machine-driven, there'll be no extra prices for reconstruction the business model.

The AI Bank offers its own ecosystem that is not guided by commercial interests but is designed to provide a complete alternative to global financial systems. AI Bank, like other blockchain systems, directly links supply and demand without the need for intermediaries.

The internal system operates in accordance with certain rules, restrictions, and norms.
The external ecosystem is supported by such layers as:

Scalability:

Income from the financial activities of the Bank will continuously increase its assets
in order to increase the number and value of loans in the future.

Autonomy:

Resistance to external forcing through decentralization. Without departments, staff
and any attachments to the material world, the system will not interact with external influence.
With the help of dynamic web landings, filing an application will be possible from any device
and from any country.

Performance:

Machines are faster and more accurate than humans. Due to coherent algorithms,
any decision in the AI Bank system is made in real time.

Transparency:

On-chain transactions recorded in the public registry will take place in the system.
The data that is not a banking secret will be opened for viewing but saved using cryptography.

THE TOKEN

The crowdsale of the AIB token will be conducted in two stages: Private Sale and ICO.
Everyone is allowed to participate in both stages without any restriction, but there are significant
differences in the details. “Soft Cap” means the minimum amount required for the
implementation of the AI Bank project. “Hard Cap” is the maximum amount of an AIB token
that can be sold. The emission of the AIB token implies that participants who wish to support the development of AI Bank can do this by sending fiscal funds or cryptocurrency to the designated requisites.