IUNO
ICO Distributed banking as a service. For centuries, banks strangled
people who were disadvantaged, and created a mechanism of oppression and
exploitation. In order to be able to participate in the banking system,
people were forced to deliver assets to the best irresponsible gambler
and in the worst case to white-collar criminals. Banks design a system
to punish their owners and give subsidies to more people. The lower the
money, the higher the cost of accessing the banking services, from
interest rates to account charges. If you are wealthy, most fees will be
exempted and interest rates will be lower. This dichotomy lets people
confiscate disadvantaged people in a vicious circle without escape.
For
centuries banks have exercised a stranglehold on the underprivileged
and created a system of suppression and exploitation. In order to be
able to participate in the banking system people were forced to hand
over their assets to a group of irresponsible gamblers at best or white
collar criminals at worst. Banks designed a system to punish people who
own less and subsidize people who own more. The less money you have, the
higher the costs to access banking services — from interest rates to
account fees. If you are wealthy, most fees are waived and interest
rates are low. This dichotomy keeps the underprivileged trapped in a
vicious cycle out of which there is no escape.
What gives IUNO an edge?
The
blockchain design of #IUNO guarantees both a high transaction speed
with the masternodes and the integrity of the system through the
supernodes. This should allow it to be used for efficient and reliable
payments, made all the more credible with AI oversight. IUNO’s dual
token system should be a lot more practical for everyday payments than
most existing cryptocurrencies. The feeless internal/low-fee external
system for financial operations should make this far more accessible
(and appealing) for the average user.
IUNO was founded by a group of veteran business professionals who have
previously worked with many prominent companies in different fields. The
company will reach out to partners to augment its platform
technologically, for instance by developing its identity management
system. It plans to enter the market through various underbanked niches,
including the expanding legal marijuana industry and the US government
food stamp program.
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