The banking sector has often been mired in controversies. In most instances, the ultimate victims of these heavy-handed practices by the centralized financial institutions are the customers. While customers end up losing their hard-earned money, the bankers manage to walk away with fat paychecks. These unfair practices haven’t gone unnoticed and there are a few who are working to change this forever.
So, will the big financial institutions go bust? Time will tell. History shows us that many of the banks have been ‘too big to fail,’ but with recent events unfolding the untouchable tenure of these behemoths could be on thin ice. With the onslaught of FinTech companies biting at their heels and climbing the ranks with consumers, the relevancy of banks is in question as startups work to disrupt the old guard.
Now, with the emergence of Bitcoin and its underlying blockchain technology, the time seems right following the last decade’s banking crisis … which still has the global economy on a path to recovery. Blockchain-driven cryptocurrency technology has shown that people do not have to rely on centralized banking institutions anymore to make transactions.
These modern-day developments laid the foundation for Hoard – a decentralized financial services company with a mission to simplify blockchain-based financial services and improve the cryptocurrency experience. The founders of Hoard are no strangers to the modus operandi of the banking sector. In fact, one of them had been part of the industry before saying his goodbyes to the system.
From working with banks while embracing the shifts in the new economy to addressing the lack of design thinking and consumer-driven development, Hoard was born from the premise of wanting things faster, simpler, and more secure.
Hoard is a creation of a handful of mavericks who are ready to address the shortcomings of the traditional banking ecosystem head-on. The platform puts the power of banking in the user’s hands versus the centralized counterparts of banks and card processors, providing the right set of financial tools, security protocols, and customer support channels. These features will make the whole process of being one’s own bank easier and less expensive.
The creators of Hoard reaffirm that they are not building a bank, but instead reinventing banking. To do so, they are leveraging the qualities, capabilities and market interests of cryptocurrencies. Their blockchain platform provides an all-in-one crypto-banking and investment solution. It is not confined to just one cryptocurrency or token. Hoard’s open source blockchain initiative allows users to bank with the cryptocurrency of their choice.
Hoard’s platform is a multi-chain crypto liquidity pool. This compatibility powers the Hoard financial services ecosystem. Users can send, receive or hold value in any cryptocurrency. According to Jason Davis, the co-founder and CEO of Hoard, “Our mission is to build a platform that empowers anyone, anywhere in the world, to hold, track, transfer, and transact with any blockchain-based or digital asset, privately and instantly, from their mobile device.”
Co-founder and CTO Dan Lipert reinforces that mission by saying, “We’ve started with a user-centric and multi-currency wallet that puts user interests first, empowering them to participate in the cryptocurrency ecosystem. While our roadmap is extensive, our goal is to make navigating the crypto-finance world as simple as putting coins in a piggy bank. Hoard will ensure that everyone around the world has access to next-generation financial tools.”
Hoard aims to make cryptocurrencies accessible and banking affordable to everyone. The team is currently building a seamless, frictionless and affordable crypto-solution that can bury the differences between various blockchains. This will help to alleviate the huge barriers posed by technical jargon and know-how to a majority of the world’s population.
Learn more about Hoard and the team: https://www.hoardinvest.com/