Bitlem Network ICO: Company Review and BTLM Token News Updates

Bitlem Network Token ICO (BTLM Coin): Physical CryptoBank?

The Bitlem Network is working towards bringing the first-ever physical crypto bank. In particular, both the blockchain technology and traditional banking will supposedly come together in this project. The team believes that the next step in adopting crypto is to ensure that a physical establishment is in place, hence coming up with the Bitlem Network concept.

While the concept of a physical bank might seem deceiving, the Bitlem Network claims to promote a decentralized system. In creating the crypto bank, users will also be provided with the Bitlem Network Debit Card and access to the Bitlem Wallet. The Bitlem Network Debit Card claims that there no hidden conversion fees, ease-of-use in the real world and a potential 0.15% cashback. The latter allows users to receive, store, convert, spend and transfer fiat and crypto in a frictionless manner, and virtual debit cards allows for time efficient transactions.

Bitlem Network BTLM Coin & ICO Details

The Bitlem Network Token (BTLM) is supposedly an ERC20 token. While the date is yet to be announced, it will go on for 90 days. The token price is currently set at approximately 0.0001 BTC. Based on the information provided, most of the tokens will be distributed to the public, with 30 and 40 percent going towards the presale and token sale respectively. The fact that only 15 % has been set aside for business development seems impractical because they plan to not only bootstrap the Bitlem Network for the services provided, but also are using it to form alliances.

Bitlem Network Physical CryptoBank Future Plans

As per the roadmap, endeavours regarding the crypto debit card, mobile wallet, fiat-backed cryptocurrencies and a money transmitter license are said to be launched in 2018, which is ambitious. By 2019, users can expect Bitlem Network to receive a banking licence.

Bitlem Network Final Thoughts

Overall, Bitlem Network’s goal of creating a crypto bank is definitely interesting, but controversial, as crypto is founded on the notion of eliminating middlemen. However, they believe that a physical bank for crypto is necessary for accessing purposes.

In addition, introducing this concept, especially in Mexico is interesting, given that the country already faces financial hardship. While the team is relatively large, nothing regarding their experiences have been announced, therefore it is too soon to tell anything about their capacity and the project itself. To follow up on the Bitlem Network, go to: bitlem.network