Develop a global Digital Money eco-system for the new digital era, offering extremely fast 24x7 Banking & Financial Services to an increasingly demanding customer base of Banks, Businesses and Individuals, without compromising the high safety, security and regulatory requirements of this Industry.
We are witnessing a Financial Services paradigm shift as FinTech companies leverage new technologies and market directly to traditional Banking customers. Payments, foreign exchange, and credit facilities are just some examples where Banks are facing more competition. At the moment these FinTech companies cannot compete with the Banks on scale of customer base, financial security, or range of services; but they can individually compete in niche services due to the speed and efficiency that these new technologies enable.
At the same time many Governments are promoting the ideal of cashless societies, and looking at their own Cryptocurrency issuances.
The result is a potential overall erosion of the traditional Banks’ position, as more and more FinTech companies emerge and attempt to disrupt the traditional banking services one by one. With the move to cashless societies and more Open Banking regulations, the FinTech companies are equipped to take full advantage of this new market, but are most banks and traditional businesses?
Together is Better.
Create Digital Money backed by National Currencies.
Managed on Blockchain - the technology supporting the current cryptocurrency boom.
Digital PLN: dPLN For every 1 dPLN issued, 1 PLN is held in custody to guarantee a dPLN holder can Cash-Out 1 dPLN for 1 PLN.
Repeat for this model for any National Currency a developing eco-system demands.
What can you do with Digital Money?
Build the Technical solution using Blockchain technology. Build the technical tools and Business functions around the Blockchain product to deliver the Digital Money Solution. Build a foundational Banking consortium to enable the development of a Digital Money eco-system, to the benefit of all participants. Build the ultimate solution through growing the eco-system in a Service Based Architecture.
We see an opportunity for a different approach: partner with the Banks to leverage the new technologies that have become established, and are still evolving in the Cryptocurrency solutions - to provide the same speed and efficiency as these new competitors. At the same time build a Banking Service that also provides the basis for more cost effective ongoing processing for all participating banks and businesses, together with a safe and reliable solution for all their customers.
As more FinTech companies are equipped to take full advantage of this new market, and we want to help traditional businesses catch up quickly.
We see 3 main customer groups, with overlapping needs:
Understanding its customer needs will be essential to success however, so integrating current and potential client base usage, satisfaction, and requirements feedback loop must be another core objective to promote growth. Future development of other appropriate Financial Products, will open up participation in the Banking Services Market, and ensure an evolving and valuable offering is available all target client bases.
Preparing for issues, means not having to react to issues.
Technology - performance and robustness of infrastructure and Technology systems must match business requirements. Data must be secure and transaction integrity high. Change Management and Quality Assurance procedures are key.
Scalability measurement against forward Business Planning, and Business Continuity Plan is essential to limit any system outage or data loss risk. Financial - as with any company, liquidity is important. Introducing the Digital Money adds an additional funding requirement - for Digital Money mirroring a National Currency, the aggregate value of balances must be backed by a balance of the corresponding National Currency.
Regulatory - attention to all licensing and reporting requirements applicable to jurisdictions of locations doing business in, and marketing products. Fines can be high, even if no intentional breach. High Compliance standards, and strong Governance Structure is needed for Financial Services.
A practical, useful, stable, reliable, and safe extension to today’s existing Payment and Financial Services.
Success will be based on 2 key factors: