Foton Bank ICO: Decentralized Virtual Banking Ecosystem

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FOTON markets itself as the financial ecosystem of the future. This decentralized virtual crypto banking ecosystem delivers instant payments via blockchain technology and contactless payments.

FOTON delivers a revolutionary offering in the banking industry since it is and designed to work with multi-currency transactions. FOTON also has a built-in exchange system for cryptocurrency and fiat currency, as well as instant contactless payments worldwide for goods and services.

Foton Bank

There is no need for FOTON to rely on intermediaries since the project has its own interbank ecosystem and cryptocurrency exchange. Light in-house blockchain technology that combines customer service processes with finance powers these features. FOTON offers a simple, understandable cryptocurrency tool that delivers secure transactions thanks to smart contracts and minimum fees. The in-house ecosystem makes it possible for FOTON to manage and establish social and financial institutions via its decentralized registry.

How Does FOTON’s Financial Model Compare to Existing Models?

At the moment, clients cannot connect directly with crypto banks. Instead, they must pass through cryptocurrency exchanges, which typically charge around a 0.2 percent fee of the payment method; the payment system, which will charge a commission of 2 to 4 percent; and the bank, which will charge a similar commission.

Using smart contracts, FOTON lets clients work directly with their chosen crypto bank, which will charge only about 0.5 percent of the payment amount. This direct relationship allows for savings of over 8.7 percent on transactions and commissions. The smart contracts only charge about 0.5 percent for transactions of crypto banks and about 0.1 percent for cryptocurrency exchanges.

About FotonBank

To better visualize this, FOTON offers an assessment of the typical fees paid in the current system compared to with its system. In the current system, only about 91.65 percent of a payment is productive thanks to a 0.2 percent crypto exchange fee, a 2.4 percent bank fee, a 0.5 percent bank fee, and a 2.4 percent payment system commission. By contrast, the FOTON ecosystem allows for 99.4 percent productivity in terms of payments since there is just a 0.5 percent crypto bank fee and a 0.1 percent crypto exchange fee.

Overall, the lack of intermediaries in the FOTON platform leads to savings of 7.75 percent. Within the cryptocurrency market, this can translate to over $36 billion every year.

Why Does It Matter that FOTON Is Decentralized?

FOTON offers a decentralized alternative to centralized banking and payment systems. The decision to be decentralized was a particularly important one for the platform. While centralized platforms involve brokers, which lack transparency and have high commissions for affiliates and merchants alike, a decentralized platform delivers an ecosystem with transparency and automation. This is possible thanks to special engineering technology that uses smart contracts to ensure fair deals and connects brokers.


The commissions are also much lower with decentralized platforms than centralized ones. While as much as 10 percent of the typical budget can be spent on a centralized financial system, FOTON charges an average of 0.5 percent for deals, sometimes even lower for asset management and fair trading. There are also high costs associated with using centralized payment and financial systems, including for accounting, services, and management. By contrast, the FOTON decentralized ecosystem has free financial services that are ready to use, and it is free to enjoy partner communication.

Finally, centralized systems are not scalable and because of their outdated nature, they have difficulty adapting to new technological solutions and do not have anonymity for transactions. By contrast, decentralized platforms like FOTON supply anonymity via crypto-fiat payment operations and are highly scalable, allowing for global connections.

What Features Does FOTON Offer Stakeholders?

Every FOTON stakeholder enjoys instant transfer of funds without any limits and a transfer fee of just 0.5 percent. Stakeholders also enjoy the highest scalability and reliability, no hidden fees, the ability to find loans for legal entities and private individuals, and the best rates for instantly buying or exchanging cryptocurrency, including with fiat. Since FOTON has its own cryptocurrency, it is possible to withdraw or exchange cryptocurrency for a fee of just 0 to 0.1 percent.

FOTON also has its own interbank financial channels system that is an analog to SWIFT, the use of escrow to hold and track money, its own cryptocurrency ATMs, integration with current ATMs, and an online robo-advisor that can help clients buy or sell cryptocurrencies at improved rates. The investment fund will help with implementing projects and mining farms.

What Features Does FOTON Offer Private Individuals?

Private individuals can take advantage of FOTON’s instant payments that are based on smart contracts, using cryptocurrency to pay for any service without the need to withdraw money. There will be contactless payment methods via mobile devices that use NFC technology. Individuals will also get to use the NFC to NFC cryptocurrency exchange, good deposit rates, and a well-developed loyalty system that includes cashback and bonuses for operations. The app is also autonomous, as you can use it worldwide even when you do not have mobile internet.

What Features Does FOTON Offer Legal Entities?

Legal entities will appreciate the ability to make non-cash purchases of cryptocurrency at good rates, salary projects, and cash withdrawals worldwide. They will also appreciate the opportunity to legally invest corporate funds in various cryptocurrency projects, take part in ICOs, and purchase tokens.


What Should You Know about the FTN Token?

The pre-ICO has already begun. For the token sale, there is a soft cap of $12 million and a hard cap of $28 million. Of the total tokens, 70 percent is allocated for the token sale, 15 percent for marketing and the loyalty program, 8 percent for founders and management, 4 percent for the marketing company campaign, and 3 percent for partners and advisors.

The FTN token is used within the FOTON ecosystem, and 0.5 percent of every transaction that uses FTN tokens will be burnt as fuel. FOTON will not be issuing any FTN tokens following the ICO, meaning that buying the tokens during the ICO is the only way to guarantee that you can buy FTN at a fixed price and use it for settlements. Those who do not purchase FTN during the ICO and wish to use FOTON capabilities with end banks will need to purchase FTN tokens from token holders. The token should be listed on exchanges following the ICO.


FOTON aims to provide the world with its first decentralized crypto-banking platform for exchanging, paying with, and managing crypto assets. The platform is available for mobile devices and built using blockchain technology, including smart contracts.

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Editor-in-Chief of Blockonomi and founder of Kooc Media, A UK-Based Online Media Company. Believer in Open-Source Software, Blockchain Technology & a Free and Fair Internet for all. His writing has been quoted by Nasdaq, Dow Jones, Investopedia, The New Yorker, Forbes, Techcrunch & More. Contact Oliver@blockonomi.com

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