For centuries banks have exercised a stranglehold on the underprivileged and created a system of suppression and exploitation. In order to be able to participate in the banking system people were forced to hand over their assets to a group of irresponsible gamblers at best or white collar criminals at worst. Banks designed a system to punish people who own less and subsidize people who own more. The less money you have, the higher the costs to access banking services – from interest rates to account fees. If you are wealthy, most fees are waived and interest rates are low. This dichotomy keeps the underprivileged trapped in a vicious cycle out of which there is no escape.
We envision a world where traditional banks have become obsolete. Banking is provided as a service on top of a decentralized wallet, allowing individuals to have complete control of their assets. Individuals lend to each other, individuals invest in each other, individuals transact with each other - directly - without the need for intermediaries. We are building a revolutionary peer-to-peer banking ecosystem on top of a distributed blockchain platform secured by a bulletproof identity management system. The stability and liquidity in our ecosystem is guaranteed by fiat-backed tokens. Our AI-based risk and compliance tools protect the individuals and the integrity of our environment.