Finom

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Finom is a project combining service mining, the ability to trade cryptocurrencies through exchanges and work with payment systems. At the moment Finom has mining capacity of 35 GH / s. In total, 520000 clients from 174 countries of the world are registered in the company's services. Among the partners are listed: Mercado Bitcoin exchange, Transform Group responsible for the promotion of the project, PerkinsCoie - international legal support.

Description[edit]

Clients of the company will be able to transfer cryptocurrency as quickly as possible and with a minimum commission, to exchange it for a fiat currency. Unnecessary commissions are eliminated. The miner can bind to the LC card and immediately withdraw the extracted cryptocurrency or make purchases. The service will constantly automatically report which cryptocurrencies are more profitable to mine at the moment. The entrance threshold for investors is reduced. Blockchain allows ordinary people to invest in products that previously could only be operated by institutional investors (i.e. various funds, banks, credit unions, etc.). Entrepreneurs will be able to use the Finom service in order to pay with partners, pay taxes in cryptocurrencies. Developers will be able to create their own products on the basis of Finom services. The state will also benefit. The created service can be used to regulate the cryptocurrency market, this will speed up the process of their legalization and facilitate it.

The authors of the idea hint that their service can become a reference financial and economic system.

Development[edit]

Infrastructure creation — at this stage, developers are currently creating a blockchain, combining all services into a single whole. At this stage, it is planned to attract 4.5 million customers; banking-emphasis will be placed on the financial component (development of the payment system, improvement of payment processing protocols). The customer base should already have 40 million people. To do this, the project needs to raise the amount within $100 — $200 million; equipment purchase. Finom plans to give the opportunity of cloud mining to everyone. To do this, farms will be purchased, data centers, corresponding software will be created. The client base is projected to be 90 million people. And they promise to do this with the collected amount from $200 to $300 million; AI assistant — development of intellectual assistant. Its function is to select the best financial products for the client. Up to 350 million people can be registered in the service by this moment. The development of the intellectual assistant promised to do if they can attract more than $300 million.

Company structure[edit]

Finom is formed by a merge of:

  • Tab Trader BV;
  • Cryptogen;
  • Nanopool;
  • io;
  • Cryptonit solutions Ltd;
  • Cryptal.

As for the organizational structure, the company consists of 10 departments. They deal with the issues of project support and development, market research, development strategy, information security, public relations, etc.

See Also on BitcoinWiki[edit]