Transformation of the Banking Sector: A New Stage of Evolution

The primary trend in today's financial world is the bank in your phone. Contactless payments, online banking, obtaining loans, leasing, factoring, and even mortgages, currency and cryptocurrency transactions, securities trading, opening a brokerage account — all of this will soon be possible remotely. In a world where technology continuously reshapes the landscape of financial services, our project to create the bank of the future occupies a special place at the intersection of traditional banking systems and revolutionary blockchain technologies. Together, we strive to create a unique banking solution that addresses the challenges of modernity, offering an unprecedented level of security, transparency, and efficiency.

Our Mission: Security, Innovation, Accessibility

At the core of our project lies the mission of providing high-quality banking services accessible to everyone. Each participant in the project, guided by laws on credit institutions, identity verification, and anti-money laundering and counter-terrorism financing regulations, can submit proposals to improve the very structure of the future bank being created. By combining time-tested methods with blockchain innovations, we are opening new horizons in customer service, offering solutions capable of fundamentally changing the perception of banking services.

Innovative Approach: Blockchain in Service of Tradition

We envision the future of the banking sector as a harmonious combination of proven traditional methods and cutting-edge technological solutions. Our approach is unique: we are creating a banking system of the future that not only meets modern requirements for reliability and efficiency but also embodies the advantages of blockchain, opening up new possibilities for our clients and partners;

In this introduction, we set the tone for the entire whitepaper, emphasizing the uniqueness and innovation of the project, as well as its potential to address current challenges in the banking sector of the future. This introduction is intended to pique the interest and capture the attention of readers, whether they are potential clients or contributors to the creation of the future bank's structure;

According to recent reports from Messari, one of the current trends is decentralized autonomous organizations (DAOs). We will witness firsthand the restructuring and redistribution of roles among participants in the future bank's structure, as well as improvements in collaboration tools, which will eliminate passivity and make us more effective in creating the structure and framework of the bank of the future.

Founding Team

Vadim Pavlov
Alexey Simakov 
Ljubov Smetanina

Howey Test 

Question One:

Have you raised funds from investors (in cash, by checks, or through cryptocurrencies)?

Yes, we plan to raise funds and cryptocurrencies from depositors.


Conclusion: Item 1 of the Howey Test is taken into account.




Question Two:

Were investments solicited with promises of future financial returns?

In the issuance of governance tokens, the focus is on enabling voting rights within the decentralized autonomous organization (DAO) established by the project and assuring depositors of the growth potential of their marketing exposure, including the brand, through the guaranteed opening of accounts in the future bank and the associated public reputation.



This example demonstrates that investments were not solicited with promises of future financial returns. Therefore, by definition:

Item 2 of the Howey Test cannot be considered.




Question Three:

Did the investors contribute money to a common enterprise?

In this project, the founders and depositors make separate investments. The organizers provide capital for the project, while depositors contribute funds independently, ensuring the opening of accounts and anticipating benefits based on their own actions. This structure segregates assets and risks according to each participant's contributions. According to U.S. court rulings, if the receipt of material benefits from the project is a result of the investor's actions, then the token cannot be considered a security.


Conclusion: This project lacks common income and cannot be deemed a common enterprise. Therefore, 

Item 3 of the Howey Test cannot be considered by definition.



Question Four:

Is the expected profit associated with the efforts of third parties?


In this project, the founders explicitly operate under the assumption that the investors they attract are also clients. Through their direct involvement (refer to calculations), depositors actively participate in promoting the token without depending on the founders' third-party efforts, instead of passively awaiting profits.


Conclusion: This example clearly deviates from the fourth criterion of the Howey Test; therefore,

Item 4 of the Howey Test cannot be considered by definition.





In conclusion, considering that three out of the four main points of the Howey Test cannot be met by definition, the development of NFT-governance tokens for the Future Bank project in the Dominican Republic, preliminarily named TLVD Trusty Bank, does not meet the criteria to be classified as a security according to the Howey Test. This conclusion is supported by the observation that token sales before the project's launch resemble the transfer of future usage rights rather than investment in securities. The crucial criterion here is not the timing of token sales initiation, but rather the purchaser's ability to utilize the system for profit through their own actions. Additionally, the appreciation of token value on the secondary market does not inherently imply their classification as securities. Token value may appreciate similarly to franchise rights due to the active engagement of token holders. Furthermore, the profit of investors and project organizers is closely intertwined according to the vertical approach, with no implied correlation between investors' profits. Thus, the token model in this context appears decentralized, indicating they cannot be considered part of a common enterprise.