Swiss startup Liquineq trusts can disrupt banking by securely and safely processing transactions within seconds utilizing blockchain. But, its point isn’t to replace banks. Rather, Liquineq wants to utilize local banking accomplices to oversee solutions, with local cash and funds held by the accomplice bank.
Moti Birger, CEO of Liquineq, describes it saying that Liquineq enables financial institutions to progress, basically without hazard and capital investments, from a main-frame based high capital and operational expense model to an ultra-minimal cost, pay-as-you-go working model, is the true objective of Liquineq’s blockchain architecture.
The firm says it can deal with multiple currencies contained in a similar wallet, and still agree to anti-money-laundering and KYC regulations while giving propelled security.
Ari Birger, chief of alliances at Liquineq says that Liquineq is doing regulation-agreeable end-to-end banking upon multi-level blockchain without disrupting anything as it is today. They grow income for banks and transition to robotized compliance without the requirement for capital expenditure.
Clients can set up and fund an account effectively with a bank utilizing Liquineq in minutes by downloading the Liquineq mobile wallet and answering a couple of questions. Debit cards can likewise be linked to the wallet.
Furthermore, the organization can deal with 10,000 transactions for every second before it executes sharding, which will speed the procedure up to 50,000 transactions for every second. Birger included that with the service developed in 200 countries, it will support the transaction per second to a couple of million.
As reported by Pymnts, former chief operating officer and director of payment strategy at the Federal Reserve of Chicago and Liquineq advisor, Gordon Werkema says that he expects Liquineq AG, with help from their advisors who have immense involvement with Visa, PayPal, and the Federal Reserve, to drive dramatic changes in the way payments and banking work far and wide.[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]