Distributed ledger technologies such as blockchain hold the potential to create an open, globally
accessible, and transparent financial ecosystem. Massive efficiencies and innovations can be
unleashed by migrating transactions from a centralized hub-and-spoke model controlled by
third-party intermediaries to a peer-to-peer system. While many financial institutions and tech
companies are working diligently to establish this new architecture, major problems regarding
scalability, ease of use, and access to these new systems remain.
While multiple projects pursue decentralized solutions to the pressing issues surrounding volatility,
liquidity, and speed, the rate of adoption within the broader financial world will continue to
significantly lag behind the pace of innovation. The reality is that we need a middle ground between
the full-scale decentralization envisioned by early bitcoiners and the tightly controlled networks
managed by financial institutions and their regulators. By offering a suite of traditional financial
services that are integrated with blockchain-powered applications we can construct a banking
platform that serves the needs of forward-looking businesses that still need to operate within the
confines of legacy systems.