Kleyn Bank will offer digital currency instruments such as Crypto bonds and Crypto futures to our trader clients. Strict execution of contract terms will be guaranteed by smart contracts that will be carefully developed and tested by our bank. Our smart contracts will be written in Solidity contract-oriented programming language and will be executed on Ethereum Blockchain network. The source code of these contracts will be transparent and published on GitHub for public inspection.
The Bank will offer a broad range of services based on smart contracts
Basically, smart contracts are computer programs that are run by the whole blockchain. These contracts can operate with financial data of Kleyn Bank customers and partners and ensure strict execution of all rules specified by the given contract. The result of the contract execution is stored in the blockchain. Nobody can erase or change this information. The source code of the smart contract will be provided in open source and anyone can read and check all the rules specified in each particular smart contract.
The smart contracts will be legally binded to all involved counterparties. The rules of these smart contracts can instruct the bank to transfer the Fiat or crypto funds from the account of one customer to the account of another customer. Such transfer of funds will be performed by the bank when specific conditions of the smart contract are met. The bank will be legally bound to strictly execute the outcome of these smart contacts.
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