iBBT Is Getting a Bank License!
Our mission at iBlockchain Bank & Trust Technologies for the past three years has been to create a new generation of a unified bank. That converges traditional banking and the decentralized financial, energy, and real estate sectors created by blockchain technologies.
The focus is two-fold. First, the new bank charter is to be a custodial bank for physical assets, such as precious metals, natural resources like water, and other earthly minerals that our society needs to continue providing technology’s benefits to prosperity and quality of life.
The second area of focus is the three segments of decentralization that blockchain will bring into a new paradigm; the first area is decentralized banking, which is part of the unified open banking concept that we have developed for the past three years. The second area is decentralized real estate; our unified open banking allows residential and commercial real estate to formulate defi methodologies to fund RE projects making homes more affordable and energy efficient. Achieving this without creating debt from traditional fiat investment banks is essential.
Last of the three areas is decentralized energy, the Unified Bank’s ability to process green energy projects such as hydrogen energy production, smart eco homes, and renewable energy from existing human waste, specifically plastics like PET or Polyethylene terephthalate. Most everyday plastic bottles are made from Polyethylene terephthalate and are widely used for soft drinks and water. And these plastic bottles created a severe issue by polluting rivers and oceans worldwide, significantly impacting the local environment.
Since 2020, our team has developed a plan to bring together proven technologies that revert PET bottles to petroleum and the concept of Ethereum tokens to create a model of funding and rewarding the recycling of such plastics. This model is unique because it is the only model that not only helps remove from the environment PET plastics but allows us, by reselling the petroleum product, to reward passively any individual who chooses to support the Project. It also creates an income for those participating in our worldwide collection and exchange. In most instances, plastic recyclables are processed by large corporate entities. Even though it benefits the environment, local communities worldwide have no direct economic benefits. Our model seeks to change it.
Our team has combined the two blockchain tokens, the iBBT Utility token (symbol: iBBT) and the Green Technologies token (symbol: GTEC), to offer a UBANK Lifetime Membership. In addition and the support of the first of the many projects the Unified Bank will support, here are some details on how the iBBT Unified Bank project will work.
The Unified Bank program has allocated the first 167100 Lifetime Membership units; each UBANK unit (UBANK) is valued at $150, and each UBANK allows you lifetime membership access to all the services offered by the UBank. In addition, the UBANK token will enable you to participate in a reward program that UBank offers annual reward distribution to all its members.
To qualify for the UBANK membership, first, you must join the pre-launch list. Once a name is on the list, each individual must own 10000 iBBT Utility Tokens and 100 GTEC tokens. The member received a $50 credit towards the $150 UBANK lifetime membership when they bought 10,000 iBBT Tokens and 100 GTET tokens.
The other benefit of owning the 10,000 iBBT tokens is essential to qualify members to join an exchange list that allows the iBBT tokens to be exchanged into iBBT Shares or UBANK shares. An announcement with a prospectus and a private placement memorandum will be available for those who express interest.
Only those who own iBBT tokens can participate in the iBBT and UBANK equity swap.
The converted iBBT tokens will be destroyed (burned) once the Equity NFTs are issued against those iBBT tokens.
We will release more details on the complete rules before announcing the prelaunch date. The Project’s Tokenomics are as follows;
The prospective UBank members will purchase 167100 x 10000 iBBT Tokens for an estimated value of $5,824,320.63 and 167100 x 100 GTEC tokens for an estimated value of $7,752,838.44 for a total balance of $13,577,159.07. The funds from the token sales will be divided into iBBT operations, UBank capitalization, and PET Project Phase I launch.
The iBBT and GTEC represent utility tokens. The very “utility” of a true utility token, when specifically designed to be exchanged for goods and services, is a potentially critical differentiating characteristic that distinguishes it from debt, equity, or other securities.
Traditional securities do not serve such a “utility” purpose. Using a utility token in a blockchain network poses several interesting challenges for the SEC. UBank will form a Wyoming DAO LLC for each Project to remove ambiguity on the Utility token’s validity. After being properly established, the DAO under Wyoming’s HB 62 and 70, UBank will offer non-Wyoming residents eligibility to purchase utility tokens as a “Wyoming buyer” despite not residing in the State. For our European and global markets, non-Americans can buy UBank’s project utility tokens from the UBank Subsidiary registered in an EU country.
In addition, the UBank Lifetime Membership Subscription of $150 paid by each qualified member will add a UBank capitalization of $16,710,000.00.
The lifetime membership offer will bring the funds necessary to begin the UBank license process and establish the first PET facility model for producing Petroleum from PET plastic. Our 25 Founding investors, 638 iBBT wallet holders, 2310 iBBT newsletter subscribers, and 700+ telegram group members will receive the first Lifetime membership offer.
Our second phase of the membership drive will be our 550K newly acquired crypto investor mailing list to promote the UBank membership.
Our initial goal is to sell 22,500 UBank memberships for $4,500,000.00 within the first 90 days of the announcement. We encourage everyone to use the 1-10-100 rule. Each of us knows one person who may know ten people who ultimately will know 1000; this results in 10K contacts from a single individual. If we expand it to ten individuals, we know that one thousand times ten becomes one hundred thousand potential new Ubank Members.
Areas UBank seeks to provide custody services to alternative assets:
- Real Estate,
- Physical Art,
- Digital Art,
- Digital Assets,
- Precious Metals,
- Precious Minerals,
- Tankers & Cargo LPs,
- Private Mortgages,
- Private Company Stock,
- Oil and Gas LPs,
- Tribal Water Rights,
- Hydrogen Production LPs,
- PET to Petroleum LPs,
- Intellectual property.