Interview with Eric Clarke, the Chief Marketing Officer at Vaultbank.
Can you briefly present yourself and your position in Vaultbank?
I’m Eric Clarke, the Chief Marketing Officer at Vaultbank. I have an entrepreneurial background, most recently in fashion in which I started and sold a brand in May of this year. Beyond that, I have worked in alternative energy, real estate development and finance. I’m a USC Marshall School of Business graduate and live in Los Angeles with my wife and 2-year-old son.
In a nutshell, what is Vaultbank?
Vaultbank was created by a group of experienced engineers and finance professionals with
the intention to create a cryptocurrency token that provides exposure to the real world, non-crypto credit assets. One of the key differentiators for the Vaultbank token is the intention to make quarterly dividends from a portion of the earnings of the credit portfolio.
Vaultbank also plans to launch a Vaultbank branded prepaid debit card that integrates with users’ cryptocurrency wallets and allows them to use cryptocurrencies for purchases at any Mastercard-supported terminal via the debit card.
Is Vaultbank a bank?
Vaultbank is not a bank. Vaultbank is working with Volopa, a prepaid debit card company, to provide transaction and payment processing services.
Can you expand on the concept of a trading terminal?
Our idea for the Vaultbank exchange/platform is to have a trading capability for token holders, which competes in fees and usability. Currently exchanging from currency into crypto is prohibitively high, and we believe Vaultbank can provide a much more cost-effective transaction exchange solution. We also want our Vaultbank token holders to have a one-stop shop for their currency and crypto trades that will work with their Vaultbank debit card all in one platform.
In the Vaultbank ICO Token holders are shareholders?
Yes, the Vaultbank tokens will represent beneficial ownership in non-voting shares of Vaultbank. The Vaultbank tokens will provide holders with an equity interest in the profits derived by the company, including the credit assets, prepaid debit card fees and other business lines that Vaultbank may pursue. Vaultbank token holders generally will not have voting rights except under certain circumstances as required under Singapore law.
Will Vaultbank shareholder meetings be held online?
Vaultbank does not plan to hold regular shareholder meetings. Vaultbank does, however, intend to provide net asset value reports on the credit asset portfolio.
Do holders of the coin need to interact with a smart contract to receive dividends?
Not necessarily interact, but we have created new methods of tech for compliance through the ERC20 smart contract written into the Vaultbank token programming. In each Vaultbank tokens’ smart contract and Orderbook.io we built in the subscription agreement and restrictions regarding accredited investor resales, KYC and AML. There are very few private placement security tokens out in the crypto world, these features allow qualified Vaultbank token holders to be eligible for quarterly ethereum dividends
Do holders need to undergo the KYC process in order to be eligible to receive dividends?
Yes. Token holders will have to provide appropriate KYC documentation prior to receiving any dividend that is issued.
What are the key advantages of Vaultbank over its peers in Credit analysis and management?
The VB Fund, LLC, which is the wholly-owned subsidiary of Vaultbank and where the credit assets will be purchased, will be managed by Vaultbank’s extremely experienced credit and portfolio management team, and then augmented by Random Forest Capital, which employs Artificial Intelligence and Machine Learning to actively select elements of its credit portfolio and leverages its proprietary access to credit originators.
What role will human analysts have if any, in the evaluation of potential loans?
Analysts are expected to be involved in the portfolio construction and critical to the selection of loan originators through our proprietary due diligence process.
Where will Vaultbank operate from, in which countries will the loans be sourced?
The Vaultbank team and Random Forest Capital operate primarily in California, while Vaultbank is a Singapore public limited company. VB Fund, LLC is a limited liability company formed in the Cayman Islands. The credit portfolio will primarily consist of residential mortgages (first or second liens), real estate bridge loans, auto loans, equipment loans and leases, commercial mortgage loans, and factoring contracts originated throughout the United States.
What are the key advantages of Vaultbank over its peers in a Crypto Debit card?
The Vaultbank prepaid debit MasterCard is expected to have competitive fiat exchange fees, usability worldwide, and simple transactability between the Vaultbank Wallet and the Vaultbank debit MasterCard.
What are the next steps to launch the Vaultbank debit card?
Vaultbank expects to launch the debit card shortly after the completion of the ICO that will be usable at any Mastercard-supported terminal globally. The Vaultbank debit MasterCard will be available for residents in many European countries as well as the US in the initial launch, and Vaultbank will continue to work with Volopa and other strategic partners to develop and integrate new features, and to expand the availability of the cards to more countries.
Can you clarify if the token holders are entitled to dividends from both the Vaultbank card revenue and the credit portfolio?
Absolutely. Vaultbank token holders will be entitled to receive dividends from the profits from the various business lines of Vaultbank, including profits derived from the credit portfolio held by the VB Fund, the Vaultbank debit MasterCard, and the anticipated future Vaultbank trading platform and any additional products and services that Vaultbank will introduce. Potential future profits will be distributed via dividends to Token holders, and/or reinvested into the VB Fund.
What is the price of a VB at pre-ico?
$1 per token + 15% bonus
What is the price of a VB ico?
$1 per token
When does the ICO start?
We are finalizing the dates, but the presale will begin around December 1st, and the ICO the week of December 18th.
Would you like to add any other information?
Just an FYI, we are Vaultbank, not Vaultbank, we get that a lot. Ha!
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We thank Eric Clarke for the interview.