FAQ about Unbank
Why trust Unbank?
Q: Why did you choose the Stellar blockchain to power Unbank?
A: We specifically chose the Stellar blockchain because it enables instant payments at minimal cost in many different cryptocurrencies. Speed of transactions is essential, especially for real-time payments in retail and restaurant environments.
Whilst the lightning network technology also allows instant payments, it is not in the same league as Stellar when it comes to transaction costs and the number of cryptocurrencies available.
Q: Why did you opt to raise funds via an ICO instead of equity?
A: Our proposed token is at the core of Unbank. It is designed to operate within a dedicated ecosystem that values decentralised transactions.
Increasing the value of our token is key to Unbank’s success, as it will clearly demonstrate that we have established trust and are solving a real problem. With this in mind, we made the strategic decision to go through an ICO, as is the best way to achieve our objectives.
Q: Why have you decided to raise €25M?
A: We have simply set acquisition objectives for both users and merchants based on the evaluation of acquisition costs. This is our main cost, as it accounts for 50% of funds raised.
This level of funding will ensure our return on investment, as well as substantially increasing our token’s value.
Q: Could Unbank’s token be considered as a security token?
A: No: our token does not allow dividends, specific voting rights or any privileges relating to the company itself. Our token serves as a utility, as a method of payment, that will see its value increase according to its activity.
Q: Why are you incorporated in Singapore?
A: We recognised that Singapore was the most appropriate country for us to base our company. It has become the location of choice for ICOs, primarily because it is a stable environment that welcomes cryptocurrencies and blockchain solutions.
Q: Are you regulated by a financial institution?
A: No, we are not. Unbank relies only on the blockchain, without any relationship with traditional banking or payment getaways (e.g. Visa/Mastercard). This independence allows us to respect users’ privacy rights, which is a fundamental element of Unbank’s philosophy.