What do you get when you cross a traditional online bank with owning cryptocurrency? Saifu SFU

What do you get when you cross a traditional online bank with owning cryptocurrency? Saifu SFU

April 2nd, 2018

This ICO is very interesting and in my opinion looks like a winner, if it delivers on its vision. Here is why I think this ICO is a BUY.

Saifu is a “crypto-fiat financial institution” according to the whitepaper, which essentially amounts to a traditional online bank with full crypto functionality. The company markets itself based on the idea of making cryptocurrencies easy for the mainstream, its security, and the fact that it officially integrates to the traditional financial world through regulatory bodies.

The company’s vision of making cryptocurrencies mainstream means that it has a potentially huge customer base. The platform looks like a simplified traditional online banking platform, and allows customers to use it in the same way. The additional full crypto functionality is convenient, not only for crypto newbies, but also for experienced crypto users and companies, which leads to the question of Saifu’s security.

The team unites a CTO, Evgeny Vigovsky, who has been working for 18 years in cyber-security, with Thales, the leader in traditional banking cybersecurity. Vigovsky most recently worked as head of DDoS protection at Kaspersky Lab, where he worked his way up the ranks into senior executive positions over the course of 12 years.

Saifu makes two major claims about its security system: 1. It brings bank-grade security to the cryptocurrency world, and 2. Even if Saifu is hacked, customers’ keys are safe. The first claim is based on the idea that the team has adapted the Thales fiat security model to cryptocurrencies. This is indeed a strong asset, as customers crypto should be as safe as fiat is in a bank. The second claim is quite a strong one, and is based on the unique technology Saifu has developed. Hacking is common now, and Saifu seems to be prepared for the worst-case-scenario ahead of time.

The product is currently in beta testing, which adds to the reliability of the team and the product they are releasing. This ICO could change the way that both crypto and traditional finance function, and make an easy and more functional bridge between the fiat and crypto worlds. Video explanation

Between ease-of-use, market-leading security, and the reliability that comes with having licenses and approval from regulatory bodies and Deloitte audits, Saifu is able to offer customers a product not currently available on the market. With this functionality, Saifu’s customer base is huge, and in my opinion the ICO is a BUY if the team implements and fires on all cylinders.  If a strange way if Ripple and a bank had a baby you would get Saifu.

Their ICO page can be view via this link: View Saifu ICO