The technology that allows untrusted parties to come to an agreement on the state of a database, without using a middleman.
By establishing a decentralized ledger for payments blockchain-fundup technology could facilitate faster payments at lower fees than banks.
Initial Coin Offerings (ICOs) are experimenting with a new model of financing that unbundles access to capital from traditional capital-raising services and firms.
By tokenizing traditional securities such as stocks, bonds, and alternative assets and placing them on public blockchain.
The centralized SWIFT protocol does not actually send the funds; it simply sends the payment orders. The actual money is then processed through a system of intermediaries. Each intermediary adds additional cost to the transaction and creates a potential point of failure.
FundUp, which plays a role as a decentralized "ledger" of transactions, could disrupt this state of play. Rather than using SWIFT to reconcile each financial institution's ledger, an interbank blockchain could keep track of all transactions publicly and transparently. That means that instead of having to rely on a network of custodial services and correspondent banks, transactions could be settled directly on a public blockchain.
FundUp tech removes the middleman in asset rights transfers, lowering asset exchange fees, giving access to wider global markets, and reducing the instability of the traditional securities market.
Moving securities on blockchains could save $17B to $24B per year in global trade processing costs.
FundUp-enabled lending offers a more secure way of offering personal loans to a larger pool of consumers and would make the loan process cheaper, more efficient, and more secure.
We intend to help alleviate the high costs of maintaining a global network of correspondent banks. An Accenture survey among 8 international banks found that blockchain-fundup technology could bring down the average cost of clearing and settling transactions by $10B annually.
Our goal is to bring the traditional banking industry into a highly digitized world, where it becomes more efficient and less costly for our customers.
Concept generation, team assemble.
Providing the concept work strategy and starting creating the white paper.
Building the FXLP (FundUp ledger) protocol platform and developing global bank data unification network. Waiting approval from the global bank institutions to integrate global banking records.
This allows us to complete the design phase and conduct series of product tests before our initial offering.
We are already launching the platform in the beta mode. Our developers are working on FundUp token and integrating it in Ethereum blockchain (ERC20).
A huge amount of work was done and a working version of the platform has been rolled out. It's ready to be used in full mode and enter the market.
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