Exclusive: Vlad Gorbunov, founder of Choise.ai ecosystem, discusses new meme bank platform that brings utility to meme coins

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As a seasoned researcher with a knack for deciphering market trends and uncovering hidden potential, I find Vlad Gorbunov’s vision for Meme Bank to be nothing short of revolutionary. The future of meme coins is not just about hype or speculation; it’s about transforming these cultural phenomena into tangible assets with real-world applications.

In a recent discussion, Vlad Gorbunov, the brainchild behind Choise.ai’s ecosystem, shares insights about the future of meme coins. He elucidates how their innovative Meme Bank concept could revolutionize the industry by incorporating practical features like token burns and staking rewards, as well as unique aspects such as custom Visa/Mastercard bank cards for meme coin payments in real-world scenarios.

AL: Hey Vlad, could you provide more insights into the prospect of the meme coin market? Are there chances that these coins might transition from being hyped assets to reliable, long-term investments, considering the news suggesting a decline in the meme coin hype wave?

Meme coins symbolize the modern investing trend, appearing at first as playful, seemingly worthless inventions bought either for amusement or speculation. However, it’s important to remember that Bitcoin was once in a similar state. Initially, Bitcoin had no real value; its worth came from collective faith in its potential. This pattern is echoed across various financial markets, be they stocks or other investment sectors, where confidence within the community plays a significant role in companies reaching valuations far exceeding their annual earnings or profits.

In much the same way, large communities of meme coin enthusiasts hang onto their tokens not just for their potential future value, but also because they believe in it. For some, the allure is rooted in the humor or ideology behind the memes; for others, it’s the perceived lack of practical use that makes these coins so intriguing. Memes have grown to be associated with numerous events and concepts, making them a significant part of contemporary cultural expressions.

Meme coins have become a persistent trend in the crypto world, showing no signs of slowing down. Their market value is consistently breaking records, with price fluctuations this year reaching an astounding 10,000%. This fast-expanding sector now ranks fourth among currencies, blockchains, and stablecoins within the bull market. Notable figures such as Elon Musk and Donald Trump are embracing the meme coin culture, highlighting their awareness of this movement that appeals to a wide audience.

The experts predict that the value of meme coins could exceed a trillion dollars, suggesting a new phase that may boost widespread acceptance. However, it’s unlikely that meme coins will transform into reliable long-term investments. Instead, they are more likely to remain speculative tools capable of delivering extraordinary profits. For instance, POPCAT saw an increase of over 6,400% in the year 2024. Nevertheless, this trend isn’t fundamentally distinct from other cryptocurrencies. The primary factor fueling meme coins is similar to any digital asset: public opinion. One way to enhance meme coins’ status is by providing utility, and here’s where Meme Bank comes into play.

CN: But how can Meme Bank ensure its utility-driven approach will resonate in a market that prioritizes excitement over real value? 

The purpose of Meme Bank isn’t to dampen the emotional impact, thrill, or buzz associated with meme coins; on the contrary, it intensifies these feelings by converting this enthusiasm into a base for developing customized products that equip particular meme coins with realistic applications. These products improve the functionality of meme coins, providing features that make them suitable for daily use. By doing so, Meme Bank not only fortifies and extends the utility of meme coins but also increases their visibility and investment attractiveness.

Sure thing!

As a researcher, I define utility in the context of cryptocurrencies like Binance Coin as their capacity to execute particular tasks that yield tangible advantages or bolster a broader economic system. Specifically for Binance Coin, its utility is demonstrated through consistent demand driven by clear functionality, such as reduced transaction fees amounting to 25-30% on Binance. Furthermore, holders who stake BNB play a pivotal role in its ecosystem, as portions of the token are either burned, repurchased, or utilized, thus ensuring an active integration within Binance’s operations.

In the realm of meme-based cryptocurrencies, some platforms like BONK occasionally give NFTs or rewards to their top coin holders, but these actions don’t provide significant practical value. The Meme Bank aims to transform these tokens into active currencies by providing a banking service for meme coins. This means that the tokens can be used for everyday transactions, exchanges, and withdrawals. Users may even obtain Visa or Mastercard cards with distinctive meme designs, load their meme coins onto these cards, and utilize them worldwide for purchases, bill payments, and other transactions.

Users who perform transactions with meme coins, such as sending them to a card or other activities, will trigger transaction fees. This collected money can then be put back into the system for growth and development. For instance, if 1 million transactions yield $10 million in fees, half of it could be used to buy back and burn meme tokens, making them rarer and potentially increasing their worth. Another option is that users could deposit their meme coins within the Meme Bank platform to earn a portion of the revenue as incentives. These strategies are designed to stimulate more active and committed meme coin user communities within the Meme Bank ecosystem.

At first, Meme Bank will collaborate with meme coin communities, creating customized solutions that cater to their unique requirements. As we progress, the platform will expand its scope, inviting all communities to participate in a voting process where they can choose a specific meme coin to receive a personalized Meme Bank platform. The decision-making process within this bank will be community-led through Decentralized Autonomous Organization (DAO) methods, empowering members to impact decisions related to aspects like card designs, transaction fees, and banking features.

QN: How does the incorporation of the CHO token affect every transaction made at Meme Bank, and what positive effects might this have on the Choise.ai platform?

As a researcher in this field, I’m fortunate to be working with Choise.ai and Vault, two trailblazers in white-label crypto banking solutions. They are generously providing us with the resources to establish Meme Bank. These resources empower us with the essential infrastructure needed for a swift and efficient launch of meme banks.

Vault currently serves more than 50 global enterprises by collecting fees for its services. But with the introduction of Meme Bank, users within meme coin communities will have the opportunity to establish their own specialized meme banks without the usual requirements for licenses or substantial initial investments. Instead, Vault plans to use the Meme Bank project as a platform to demonstrate its offerings to thriving, massive meme coin communities, potentially handling millions of transactions.

The partnership between Choise.ai and its community of CHO token owners brings potential advantages from every transaction. A proportion of the earnings will be designated for destroying CHO tokens, thereby boosting their rarity and worth. This procedure happens smoothly behind the scenes, leaving the meme coins unaffected. To maintain transparency and promote user involvement, real-time dashboards will showcase token burning volumes.

As a crypto investor, I can’t help but be captivated by the immense promise that meme coin communities hold. The trio of leading meme coin ecosystems – Dogecoin (DOGE), Shiba Inu (SHIB), and Pepecoin (PEPE) – have amassed a staggering 7 million token holders, many of whom are already reaping profits from these assets or aiming to do so. The Meme Bank project is truly revolutionary, aiming to tap into this potential even further, pushing the boundaries of meme coin trading far beyond its current 11-digit volume.

CN: If you could sum up Meme Bank’s mission in a single word or phrase, what would it be?

Memebank aims to lead as the top service provider for meme-based cryptocurrencies, enhancing their practical uses while preserving their excitement and emotional charm.

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2024-12-13 22:57