3 ms·
I'd be skeptical of anyone trying to build regulated financial services on a technology that is still unregulated in large part of the world. Getting a financi
by mratsim 6y ago
I'd be skeptical of anyone trying to build regulated financial services on a technology that is still unregulated in large part of the world.
Getting a financial service license is possible, getting a blockchain-based banking service recognized by you financial authority might be a stretch. And you'll likely spend a lot in accountants and lawyers fees, not even talking about KYC and Anti-Money-Laundering requirements.
Disclaimer: I work in blockchain (not for finance) and used to work in financial services in particular gearing up financial systems for new regulations (Basel III [1], EMIR [2], KYC, Anti-Money-Laundering...)
[1]: https://en.wikipedia.org/wiki/Basel_III https://en.wikipedia.org/wiki/Basel_III
[2]: https://en.wikipedia.org/wiki/European_Market_Infrastructure_Regulation https://en.wikipedia.org/wiki/European_Market_Infrastructure...
- verdverm 6y agoI was being a bit facetious w.r.t. blockchain :]