SC5 founds a Bitcoin bankPyry Lehdonvirta
The HTML5 company SC5 founds a Bitcoin bank.
After years of enduring the bank crisis, the Euro crisis and the bad user experience of all the digital banking services SC5 has decided to act. On this date the company pivots from software business to banking business.
SC5 bank in a nutshell
- Provides a Bitcoin account where you can save, transfer and withdraw Bitcoins
- Pays interest on Bitcoin savings
- Grants Bitcoin loans
- Offers a Bitcoin credit card
- Provides banking services and easy payments on all digital devices with its superior HTML5 user experience
100% transparency promise
All loans granted using the customers’ savings are directly transmitted from the customer Bitcoin accounts to the borrower account. You as a customer know exactly how much of your money is currently lent out.
Built-in autonomous mechanism for preventing the next bank crisis
The open books resulting from the 100% transparency promise mean that the customers can monitor the health of the bank in realtime. This in turn leads to an autonomous control mechanism. If the bank’s customers at any time regard the bank’s financial health to be below a trustworthy level, they will withdraw their money and the bank will collapse. As a result for the bank to keep on creating shareholder value it needs to stay healthy at all times.
April’s special deal: All money moved from Cyprus will be guaranteed a positive interest for lifetime.
Follow @sc5io for announcements on the beta testing period and the public launch.