Every week new cryptocurrencies are being created, many of them based only on a misguided sense of “sticking it to the man”, claiming only to offer a new way of paying that will not be regulated by governments or financial authorities. John Smith meanwhile has been working in relative obscurity to get his crypto application Mikron presented to and working with the systems of major banks in nearly 20 countries. Mikron is a micro payment application based on the new cryptocurrency of the same name, and the team has a great story to tell. “Mikron will allow anyone with the app, anywhere in the world, to connect to the network and make micropayments in seconds. The system will be integrated with the existing systems of banking and financial institutions, so the estimated user base of the new network will be over 500m users when the application launches in September. This means that anyone using the app will likely already have a wide network of friends and relatives connected. ”

It is not only the Mikron users while will benefit from the banks’ wide user reach; the banks that are involved in the project are very excited about the new technology. Many banks are aware that blockchain technology is a huge technological advance that can improve the existing banking systems massively, and are happy to work hand in hand with a crypto company that is actively seeking financial and legal regulations, rather than flaunting their anonymous and unregulated features.

Maxim Stoev from Municipal Bank, the biggest bank in the Balkans, explains: “Most banks get very nervous when confronted with the crypto currency phenomenon because most of the crypto currencies and crypto enthusiasts portray themselves as anarchists trying to do away with the current financial system. Mikron stands out because they actively seek to work with central banks and governments on system such as taxation, transparency, and cross-border tax integration. They welcome regulation, and have an amazing technology to support it. All the people in the banking world that I have discussed this with are extremely excited about this opportunity.”

Mikron is currently in a pre-market phase until September 2018. Of the 5m coins they offered for pre-sale, nearly half have been purchased. On the website you can see how the funds will be allocated.