Editing Unbanked

'''Connecting DeFi and cryptocurrencies to banks, cards, and other legacy finance'''

* Over 10 white label customers including Paxful, Nexo, Litecoin Foundation.

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== Problem<ref name=":0">Source: Republic.</ref> ==

== Solution<ref name=":0" /> ==

'''A global neo-bank platform built on blockchain'''

Its platform puts mobile digital banking first; and, with blockchain technology, Unbanked is able to provide a better, cheaper, faster experience.

<youtube>https://youtu.be/XEm8nAHoVUw</youtube>

=== Modern solutions for modern problems ===

=== Use digital currency in real-time ===

=== Seamlessly convert fiat to crypto ===

== Product<ref name=":0" /> ==

'''Get Unbanked'''

=== How the Unbanked BlockCard works ===

=== Unbanked's Intuitive Bank Accounts ===

==== Borderless transfers ====

==== Link with your BlockCard ====

==== Crypto purchases, done better ====

Purchase BTC, ETH, and TERN directly from your bank account to your self-custodial wallet with no hassle. Unbanked will even aggregate prices across multiple exchanges to help you find the best price. Most important, Unbanked settles the purchase to your self-custodial wallet so you're always in control.

== Traction<ref name=":0" /> ==

'''5x YoY revenue growth'''

=== Operational milestones ===

* Debit card issuance is live in all 50 states, 31 countries in EEA (imminent) as well as LATAM.

Unbanked’s highest revenue month thus far is April 2021, at $2.06M. Its company cash flow doubled from January 2021 to May 2021.  At this pace, Unbanked is forecasting $20M+ for EOY 2021.  

== Customers<ref name=":0" /> ==

Its team is planning to scale Unbanked significantly in the coming years, and be able to support tens of millions of customers globally.  This will be through a combination of direct-to-consumer programs and business-to-business programs.

Unbanked works with some of the leading blockchain-based companies in the industry including the Litecoin Foundation, Paxful, Nexo, StormX, and many others.  Enabling these great organizations to white-label its platform gives their customers real-world utility over digital assets.

== Business model<ref name=":0" /> ==

Unbanked shares in all fees generated from the users who interact with its platform either through its card programs, bank accounts, or its white-label partnerships who pay a licensing fee in addition to the sources below. Typically it is a combination of factors.

While fees help the company make money, Unbanked wants to keep them low—and rather use economies of scale to make money from its customers. Its philosophy is: a smaller piece of a bigger pie.

Monthly subcription fee: $5.00 unless you spend $750.00 or more - then it's free.

|$10.00 plastic / $50.00 metal

|$10.00 plastic / $50.00 metal

'''Interchange fees'''

When users convert dollars to cryptocurrency Unbanked doesn't charge fees but can make money on the spread, between 0.5%–3% depending on the asset.  Unbanked can achieve this through the aggregation of multiple markets while keeping the customer's price competitive.

'''Future fees'''

== Market<ref name=":0" /> ==

'''This is asymmetrical warfare—and the opportunity size is in the trillions'''

<Youtube>https://youtu.be/rTQtTAUKcPA</Youtube>

== Competition<ref name=":0" /> ==

Unbanked is often compared to other crypto card companies, but its product is so much more than that.

Like traditional banks, Unbanked offers bank accounts that hold cash and debit cars for spending; but like crypto companies, Unbanked enables those bank accounts to buy and withdraw crypto, or to use that crypto and spend it on a debit card.

Its long-term vision is more competitive with Revolut or Coinbase, but with a B2B focus: enabling other companies to have their own crypto-friendly fintech offerings to their customers, including cards and bank accounts.  

== Vision and strategy<ref name=":0" /> ==

'''Planning for the future'''

<Youtube>https://youtu.be/XQJYpcQ88sg</Youtube>

Unbanked also has an ambitious roadmap of new products and services that it intends to bring to the marketplace. Some of these include:

* Expanding geographic reach

== Funding<ref name=":0" /> ==

Unbanked has raised approximately $1.4M to date. Both of its previous rounds have been oversubscribed. Its last round was held on Republic where it hit the cap of $1,070,000 from over 3,700 investors.

== Founders<ref name=":0" /> ==

'''A mission to transform financial access and control'''

== Team<ref name=":0" /> ==

'''Co-founder: Ian Kane'''

'''CTO: Corey Ballou'''

== Risks<ref name=":0" /> ==

'''There is no present market for the Securities and Unbanked has arbitrarily set the price.'''

The Offering price was not established in a competitive market. Unbanked has arbitrarily set the price of the Securities with reference to the general status of the securities market and other relevant factors. The Offering price for the Securities should not be considered an indication of the actual value of the Securities and is not based on its asset value, net worth, revenues or other established criteria of value. Unbanked cannot guarantee that the Securities can be resold at the Offering price or at any other price.

You should not rely on the fact that its Form C is accessible through the U.S. Securities and Exchange Commission’s EDGAR filing system as an approval, endorsement or guarantee of compliance as it relates to this Offering. The U.S. Securities and Exchange Commission has not reviewed this Form C, nor any document or literature related to this Offering.

'''Global crises, such as COVID-19, can have a significant effect on its business operations and revenue projections.'''

A significant outbreak of contagious diseases, such as COVID-19, in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, including the United States where Unbanked principally operates, resulting in an economic downturn that could reduce the demand for its products and services and impair its business prospects, including as a result of being unable to raise additional capital on acceptable terms to us, if at all.

'''Changes in employment laws or regulation could harm its performance.'''  

Various federal and state labor laws govern its relationship with its employees and affect operating costs. These laws include minimum wage requirements, overtime pay, healthcare reform and the implementation of the Patient Protection and Affordable Care Act, unemployment tax rates, workers’ compensation rates, citizenship requirements, union membership and sales taxes. A number of factors could adversely affect its operating results, including additional government- imposed increases in minimum wages, overtime pay, paid leaves of absence and mandated health benefits, mandated training for employees, increased tax reporting and tax payment requirements for employees who receive tips, a reduction in the number of states that allow tips to be credited toward minimum wage requirements, changing regulations from the National Labor Relations Board and increased employee litigation including claims relating to the Fair Labor Standards Act.

'''Unbanked operates in a highly regulated environment, and if Unbanked is found to be in violation of any of the federal, state, or local laws or regulations applicable to us, its business could suffer.'''

Unbanked is also subject to a wide range of federal, state, and local laws and regulations. The violation of these or future requirements or laws and regulations could result in administrative, civil, or criminal sanctions against us, which may include fines, a cease and desist order against the subject operations or even revocation or suspension of its license to operate the subject business. As a result, Unbanked may incur capital and operating expenditures and other costs to comply with these requirements and laws and regulations.

'''Changes in federal, state or local laws and government regulation could adversely impact its business.'''

The Company is subject to legislation and regulation at the federal and local levels and, in some instances, at the state level. New laws and regulations may impose new and significant disclosure obligations and other operational, marketing and compliance-related obligations and requirements, which may lead to additional costs, risks of non-compliance, and diversion of its management's time and attention from strategic initiatives. Additionally, federal, state and local legislators or regulators may change current laws or regulations which could adversely impact its business. Further, court actions or regulatory proceedings could also change its rights and obligations under applicable federal, state and local laws, which cannot be predicted. Modifications to existing requirements or imposition of new requirements or limitations could have an adverse impact on its business.

The regulation of individual data is changing rapidly, and in unpredictable ways. A change in regulation could adversely affect its business, including causing its business model to no longer be viable. Costs associated with information security – such as investment in technology, the costs of compliance with consumer protection laws and costs resulting from consumer fraud – could cause its business and results of operations to suffer materially. Additionally, the success of its online operations depends upon the secure transmission of confidential information over public networks, including the use of cashless payments. The intentional or negligent actions of employees, business associates or third parties may undermine its security measures. As a result, unauthorized parties may obtain access to its data systems and misappropriate confidential data. There can be no assurance that advances in computer capabilities, new discoveries in the field of cryptography or other developments will prevent the compromise of its customer transaction processing capabilities and personal data. If any such compromise of its security or the security of information residing with its business associates or third parties were to occur, it could have a material adverse effect on its reputation, operating results and financial condition. Any compromise of its data security may materially increase the costs that Unbanked incurs to protect against such breaches and could subject the company to additional legal risk.

'''The use of individually identifiable data by its business, its business associates and third parties is regulated at the state, federal and international levels.'''

Like others in its industry, Unbanked continues to face advanced and persistent attacks on its information infrastructure where it manages and store various proprietary information and sensitive/confidential data relating to its operations. These attacks may include sophisticated malware (viruses, worms, and other malicious software programs) and phishing emails that attack its products or otherwise exploit any security vulnerabilities. These intrusions sometimes may be zero-day malware that are difficult to identify because they are not included in the signature set of commercially available antivirus scanning programs. Experienced computer programmers and hackers may be able to penetrate its network security and misappropriate or compromise its confidential information or that of its customers or other third-parties, create system disruptions, or cause shutdowns. Additionally, sophisticated software and applications that Unbanked produces or procure from third-parties may contain defects in design or manufacture, including "bugs" and other problems that could unexpectedly interfere with the operation of the information infrastructure. A disruption, infiltration or failure of its information infrastructure systems or any of its data centers as a result of software or hardware malfunctions, computer viruses, cyber-attacks, employee theft or misuse, power disruptions, natural disasters or accidents could cause breaches of data security, loss of critical data and performance delays, which in turn could adversely affect its business.

'''Its business could be negatively impacted by cyber security threats, attacks and other disruptions.'''  

Like others in its industry, Unbanked continues to face advanced and persistent attacks on its information infrastructure where it manages and store various proprietary information and sensitive/confidential data relating to its operations. These attacks may include sophisticated malware (viruses, worms, and other malicious software programs) and phishing emails that attack its products or otherwise exploit any security vulnerabilities. These intrusions sometimes may be zero-day malware that are difficult to identify because they are not included in the signature set of commercially available antivirus scanning programs. Experienced computer programmers and hackers may be able to penetrate its network security and misappropriate or compromise its confidential information or that of its customers or other third-parties, create system disruptions, or cause shutdowns. Additionally, sophisticated software and applications that Unbanked produces or procures from third-parties may contain defects in design or manufacture, including "bugs" and other problems that could unexpectedly interfere with the operation of the information infrastructure. A disruption, infiltration or failure of its information infrastructure systems or any of its data centres as a result of software or hardware malfunctions, computer viruses, cyber-attacks, employee theft or misuse, power disruptions, natural disasters or accidents could cause breaches of data security, loss of critical data and performance delays, which in turn could adversely affect its business.

'''Its business could be negatively impacted by cyber security threats, attacks and other disruptions.'''

Unbanked may face advanced and persistent attacks on its information infrastructure where it manages and store various proprietary information and sensitive/confidential data relating to its operations. These attacks may include sophisticated malware (viruses, worms, and other malicious software programs) and phishing emails that attack its products or otherwise exploit any security vulnerabilities. These intrusions sometimes may be zero-day malware that are difficult to identify because they are not included in the signature set of commercially available antivirus scanning programs. Experienced computer programmers and hackers may be able to penetrate its network security and misappropriate or compromise its confidential information or that of its customers or other third-parties, create system disruptions, or cause shutdowns. Additionally, sophisticated software and applications that Unbanked produces or procures from third-parties may contain defects in design or manufacture, including “bugs” and other problems that could unexpectedly interfere with the operation of the information infrastructure. A disruption, infiltration or failure of its information infrastructure systems or any of its data centers as a result of software or hardware malfunctions, computer viruses, cyber-attacks, employee theft or misuse, power disruptions, natural disasters or accidents could cause breaches of data security, loss of critical data and performance delays, which in turn could adversely affect its business.

'''Damage to its reputation could negatively impact its business, financial condition and results of operations.'''

Its reputation and the quality of its brand are critical to its business and success in existing markets and will be critical to its success as it enters new markets. Any incident that erodes consumer loyalty for its brand could significantly reduce its value and damage its business. Unbanked may be adversely affected by any negative publicity, regardless of its accuracy. Also, there has been a marked increase in the use of social media platforms and similar devices, including blogs, social media websites and other forms of internet-based communications that provide individuals with access to a broad audience of consumers and other interested persons. The availability of information on social media platforms is virtually immediate as is its impact. Information posted may be adverse to its interests or may be inaccurate, each of which may harm its performance, prospects or business. The harm may be immediate and may disseminate rapidly and broadly, without affording the company an opportunity for redress or correction.

Some of its competitors have made or may make acquisitions or may enter into partnerships or other strategic relationships to offer more comprehensive services than they individually had offered or achieve greater economies of scale. In addition, new entrants not currently considered to be competitors may enter its market through acquisitions, partnerships or strategic relationships. Unbanked expects these trends to continue as companies attempt to strengthen or maintain their market positions. The potential entrants may have competitive advantages over us, such as greater name recognition, longer operating histories, more varied services and larger marketing budgets, as well as greater financial, technical and other resources. The companies resulting from combinations or that expand or vertically integrate their business to include the market that it addresses may create more compelling service offerings and may offer greater pricing flexibility than it can or may engage in business practices that make it more difficult for the company to compete effectively, including on the basis of price, sales and marketing programs, technology or service functionality. These pressures could result in a substantial loss of its customers or a reduction in its revenue.

'''The development and commercialization of its products is highly competitive.'''  

Unbanked faces competition with respect to any products that it may seek to develop or commercialize in the future. Its competitors include major companies worldwide. Many of its competitors have significantly greater financial, technical and human resources than Unbanked has and superior expertise in research and development and marketing approved products and thus may be better equipped than company to develop and commercialize products. These competitors also compete with the company in recruiting and retaining qualified personnel and acquiring technologies. Smaller or early stage companies may also prove to be significant competitors, particularly through collaborative arrangements with large and established companies. Accordingly, its competitors may commercialize products more rapidly or effectively than Unbanked is able to, which would adversely affect its competitive position, the likelihood that its products will achieve initial market acceptance, and its ability to generate meaningful additional revenues from its products.

'''Unbanked needs to rapidly and successfully develop and introduce new products in a competitive, demanding and rapidly changing environment.'''

To succeed in its intensely competitive industry, Unbanked must continually improve, refresh and expand its product and service offerings to include newer features, functionality or solutions, and keep pace with changes in the industry. Shortened product life cycles due to changing customer demands and competitive pressures may impact the pace at which Unbanked must introduce new products or implement new functions or solutions. In addition, bringing new products or solutions to the market entails a costly and lengthy process, and requires company to accurately anticipate changing customer needs and trends. Unbanked must continue to respond to changing market demands and trends or its business operations may be adversely affected. Unbanked must also anticipate and respond to customer demands regarding the compatibility of its current and prior offerings. These demands could hinder the pace of introducing and implementing new technology. Its future results may be affected if its products cannot effectively interface and perform well with software products of other companies and with its customers’ existing IT infrastructures, or if Unbanked is unsuccessful in its efforts to enter into agreements allowing integration of third-party technology with its database and software platforms. Its efforts to develop the interoperability of its products may require significant investments of capital and employee resources. In addition, many of its principal products are used with products offered by third parties and, in the future, some vendors of non-Company products may become less willing to provide company with access to their products, technical information and marketing and sales support. As a result of these and other factors, its ability to introduce new or improved solutions could be adversely impacted and its business would be negatively affected.

Recruiting and retaining highly qualified personnel is critical to its success. These demands may require company to hire additional personnel and will require its existing management and other personnel to develop additional expertise. Unbanked face intense competition for personnel, making recruitment time-consuming and expensive. The failure to attract and retain personnel or to develop such expertise could delay or halt the development and commercialization of its product candidates. If Unbanked experiences difficulties in hiring and retaining personnel in key positions, it could suffer from delays in product development, loss of customers and sales and diversion of management resources, which could adversely affect operating results. Its consultants and advisors may be employed by third parties and may have commitments under consulting or advisory contracts with third parties that may limit their availability to us, which could further delay or disrupt its product development and growth plans.

Unbanked is dependent on certain key personnel in order to conduct its operations and execute its business plan, however, the Company has not purchased any insurance policies with respect to those individuals in the event of their death or disability. Therefore, if any of these personnel die or become disabled, the Company will not receive any compensation to assist with such person’s absence. The loss of such person could negatively affect the Company and its operations. Unbanked has no way to guarantee key personnel will stay with the Company, as many states do not enforce non-competition agreements, and therefore acquiring key man insurance will not ameliorate all of the risk of relying on key personnel.

Unbanked is dependent on its executive officers, board of directors and key employees. These persons may not devote their full time and attention to the matters of the Company. The loss of any or all of its executive officers, board of directors and key employees could harm the Company's business, financial condition, cash flow and results of operations.

'''Unbanked relies on various intellectual property rights, including licenses, in order to operate its business'''

The Company relies on certain intellectual property rights to operate its business. The Company’s intellectual property rights may not be sufficiently broad or otherwise may not provide company a significant competitive advantage. In addition, the steps that Unbanked has taken to maintain and protect its intellectual property may not prevent it from being challenged, invalidated, circumvented or designed-around, particularly in countries where intellectual property rights are not highly developed or protected. In some circumstances, enforcement may not be available to company because an infringer has a dominant intellectual property position or for other business reasons, or countries may require compulsory licensing of its intellectual property. Its failure to obtain or maintain intellectual property rights that convey competitive advantage, adequately protect its intellectual property or detect or prevent circumvention or unauthorized use of such property, could adversely impact its competitive position and results of operations. Unbanked also rely on nondisclosure and noncompetition agreements with employees, consultants and other parties to protect, in part, trade secrets and other proprietary rights. There can be no assurance that these agreements will adequately protect its trade secrets and other proprietary rights and will not be breached, that Unbanked will have adequate remedies for any breach, that others will not independently develop substantially equivalent proprietary information or that third parties will not otherwise gain access to its trade secrets or other proprietary rights. As Unbanked expands its business, protecting its intellectual property will become increasingly important. The protective steps Unbanked has taken may be inadequate to deter its competitors from using its proprietary information. In order to protect or enforce its intellectual property rights, Unbanked may be required to initiate litigation against third parties, such as infringement lawsuits. Also, these third parties may assert claims against company with or without provocation. These lawsuits could be expensive, take significant time and could divert management’s attention from other business concerns. The law relating to the scope and validity of claims in the technology field in which Unbanked operates is still evolving and, consequently, intellectual property positions in its industry are generally uncertain. Unbanked cannot assure you that it will prevail in any of these potential suits or that the damages or other remedies awarded, if any, would be commercially valuable.

'''Unbanked rely on other companies to provide services for its products.'''

Unbanked depends on third party vendors to meet its contractual obligations to its customers and conduct its operations. Its ability to meet its obligations to its customers may be adversely affected if vendors do not provide the agreed-upon services in compliance with customer requirements and in a timely and cost-effective manner. Likewise, the quality of its services may be adversely impacted if companies to whom Unbanked delegates certain services do not perform to our, and its customers’, expectations. Its vendors may also be unable to quickly recover from natural disasters and other events beyond their control and may be subject to additional risks such as financial problems that limit their ability to conduct their operations. The risk of these adverse effects may be greater in circumstances where Unbanked relies on only one or two vendors for a particular service.

'''Unbanked may implement new lines of business or offer new products and services within existing lines of business.'''

As an early-stage company, Unbanked may implement new lines of business at any time. There are substantial risks and uncertainties associated with these efforts, particularly in instances where the markets are not fully developed. In developing and marketing new lines of business and/or new products and services, Unbanked may invest significant time and resources. Initial timetables for the introduction and development of new lines of business and/or new products or services may not be achieved, and price and profitability targets may not prove feasible. Unbanked may not be successful in introducing new products and services in response to industry trends or developments in technology, or those new products may not achieve market acceptance. As a result, Unbanked could lose business, be forced to price products and services on less advantageous terms to retain or attract clients or be subject to cost increases. As a result, its business, financial condition or results of operations may be adversely affected.

'''Unbanked may not have enough authorized capital stock to issue shares of common stock to investors upon the conversion of any security convertible into shares of its common stock, including the Securities.'''

Currently, its authorized capital stock consists of 265,217,402 shares, consisting of three classes, of which 200,000,040 shares are issued and outstanding. Unless Unbanked increase its authorized capital stock, it may not have enough authorized common stock to be able to obtain funding by issuing shares of its common stock or securities convertible into shares of its common stock. Unbanked may also not have enough authorized capital stock to issue shares of common stock to investors upon the conversion of any security convertible into shares of its common stock, including the Securities.

'''Unbanked may face potential difficulties in obtaining capital.'''

Unbanked may have difficulty raising needed capital in the future as a result of, among other factors, the inherent business risks associated with its Company and present and future market conditions. Its future sources of revenue may not be sufficient to meet its future capital requirements. Unbanked will require additional funds to execute its business strategy and conduct its operations. If adequate funds are unavailable, Unbanked may be required to delay, reduce the scope of or eliminate one or more of its research, development or commercialization programs, product launches or marketing efforts, any of which may materially harm its business, financial condition and results of operations.

In order to achieve the Company’s near and long-term goals, the Company may need to procure funds in addition to the amount raised in the Offering. There is no guarantee the Company will be able to raise such funds on acceptable terms or at all. If Unbanked is not able to raise sufficient capital in the future, it may not be able to execute its business plan, its continued operations will be in jeopardy and it may be forced to cease operations and sell or otherwise transfer all or substantially all of its remaining assets, which could cause an Investor to lose all or a portion of their investment.

'''Unbanked has a limited operating history upon which you can evaluate its performance, and accordingly, its prospects must be considered in light of the risks that any new company encounters.'''