Oliver Posted June 19, 2017 Posted June 19, 2017 Polybius Bank will combine features of modern banking, IoT, Big Data and Blockchain-based technologies while also meeting security and UX requirements. Click here for more information regarding Polybius and please do not comment if you did not even read about it. 2
mercylad Posted June 19, 2017 Posted June 19, 2017 25m $ to set up a bank sounds a little too less doesn't it?
Oliver Posted June 19, 2017 Author Posted June 19, 2017 (edited) 6 minutes ago, mercylad said: 25m $ to set up a bank sounds a little too less doesn't it? Generally banks need about $12 to 20 million in capital to get started. source: http://www.huffingtonpost.com/2010/03/19/how-to-start-your-own-ban_n_497261.html Also while doing research I read somewhere that a new EU regulation makes it possible to get a bank license at 6m. (not sure if this is true was no serious source just reddit) Edited June 19, 2017 by Oliver
Bucket1337 Posted June 19, 2017 Posted June 19, 2017 I think bitcoin.de has done the same. The bank is called fidor bank.
mercylad Posted June 19, 2017 Posted June 19, 2017 16 minutes ago, Oliver said: Generally banks need about $12 to 20 million in capital to get started. source: http://www.huffingtonpost.com/2010/03/19/how-to-start-your-own-ban_n_497261.html Also while doing research I read somewhere that a new EU regulation makes it possible to get a bank license at 6m. (not sure if this is true was no serious source just reddit) Dang lel, if I didn't despice interest I'd be off starting a bank. Just gotta find that 12-20m somewhere. 1
Ducky Posted June 19, 2017 Posted June 19, 2017 47 minutes ago, m4tis said: It's founded in Estonia. I'm happy for them. GL i'm out
Magerange Posted June 19, 2017 Posted June 19, 2017 (edited) what's with all the russians on the board? As for those who discredit Estonia as a business place, let me just mention some - Skype, Transferwise. I envy them because my nation is only capable of potatoes. Edited June 19, 2017 by Magerange 1
Jordan Posted June 19, 2017 Posted June 19, 2017 I mean the current banking system blow chunks. They charge thousands in fees to send money internationally and it takes 3-5 business days and up to 7 days if your business days overlap the weekend. Bank transfers are terribly slow, difficult to get started as they require so much information, and cost tons of money. I personally don't see a downside to a bank that solves that but they have a lot of hoops to go through. It can very easily flop. 2
