Large Wall Street investment banks nowadays have reached the top of the financial industry food chain after over a hundred years’ development. Names such as Goldman Sachs, Morgan Stanley and Merrill Lynch are synonyms for groups of world financial elites. However the bankruptcy of Lehman Brothers, a well known investment bank on the Street at that time, pushed the 2008 financial crisis into an abyss. The hidden fact behind this was how hard those banks ‘too big to fail’ had pushed world financial resources into assets relating to the US housing bubble, totally out of their own interests. Their greed eventually cost trillions of dollars of taxpayers’ and investors’ money. This certainly sounded the alarm for this old American-style financial system which has been in desperate need for a change.
Please Note: This is a Press Release
In this context, Banca Investment Banking Community is created by a group of elites from the Wall Street world and Silicon Valley technology giants, aiming to solve the conflict of interest existing in traditional investment banks and to become the trail blazer of a new decentralized investment banking service model.
Investment Banking Should be a Decentralized Process
The problem within traditional investment banks is the centralized decision making system, in which large banks have overwhelming advantages in information, expertise and bargaining power. Those advantages have made it possible for bankers to act on their own best interests instead of their clients’.
In order to prevent this moral hazard, Banca Investment Banking Community will strive to attract world’s best experts in investment banking, asset management, trading and other related businesses to the platform. They will act individually in terms of providing banking services but Banca will utilize AI and smart contracts to achieve automatic and efficient management, and ensure that the best services will be provided and tailored to a specific client’s need.
The Banca team combines the best of Wall Street professionals and Silicon Valley technician. The CEO has more than a decade’s experience working in global hedge fund/investment banking industry and the CTO has worked in key roles with big Silicon Valley names such as Google, Amazon and Apple. The team as a whole has numerous related patents registered with USPTO and academic papers published under its members’ names. Those give the team a serious advantage in the creation of this brand-new community.
The Banca Token
The Banca token is at the heart of the Banca Investment Banking Community. The token facilitates all transactions on the platform and helps the administrator in providing value-added services to community members. The Banca token is currently under Token Generation Event and the pricing is 20,000 banca for one QTUM. There is a cap on the amount of tokens offered during TGE at 7 billion banca. Additionally, a white paper has been released with details on the project and underlying technologies on the official website banca.world.
Partnership with Qtum
Recently, Banca has reached an agreement with Qtum, one of the best-known blockchain ecosystems of the world. The Qtum management team has been fascinated by Banca’s Investment Banking Community idea and has decided to become part of the revolution.
According to this agreement, Banca will rely on Qtum’s blockchain technology support, building up its own business protocols and trust mechanism, and more importantly will have access to Qtum’s enormous crypto community. Together, Banca and Qtum aim to collaborate seamlessly so as to completely revolutionize the world’s current financial system.