The technological disruption brought about by the digital currencies and its blockchain infrastructure was a defining moment in the world of finance. But far too many have yet to understand the economy that it is presenting in modernizing the traditional ways of banking. Even today’s current businesses have not fully grasped the immense power of financial technology that without careful thinking, planning, and execution, those traditional institutions who blindly embarked on these new technologies may find it too expensive to support and maintain, with which there is no turning back. It is for these reasons that the International Crypto Business Association came into being. Backed by The Wallex Group and a Swedish trust, ICBA is an educational hub which, informs, supports and advises you with the informative steps a business and an individual can take while maintaining their operational, legal structure and cliental reassurance while embracing new technology by using blockchain.
‘There is a misunderstanding and fault in knowledge of how new technologies can be used in the new economy, which in turn, decreases the possibility of development and growth’ – Simone Mazzuca (Founder & Director of ICBA)
Furthermore, ICBA educates and informs everyone on how to use blockchain technology in their services—giving the information and support on how to comply with the legal framework such as the Anti-Money Laundry Directives. Furthermore, ICBA informs and supports you with tools needed for using blockchain technology even when it comes to serving your customers. Thus, showcasing that the traditional system is hardly different from the digital era.
You may be wondering, why as a business or individual, this organisation is needed, the truth is, blockchain technology exists, and what this technology does, is it gives your financial services clarity. Currently, most financial transactions are conducted electronically, nevertheless, there is no central ledger while using the traditional system, meaning you cannot get a full database of where or how your money is being used or placed every minute/hour. Blockchain enables you to have full visibility of your financial data, can be fully tracked, publicly identified while knowing your money’s worth in operating in full compliance with the legal system and regulations.
An example of how blockchain technology could help would be the Know-Your-Customer (KYC) process. In the blockchain, KYC is conducted the exact same way as a bank would do, complying with the same regulations and providing you with an e-wallet. Conducting transactions with digital currencies require the source of the funds, therefore controlling and monitoring the transactions being conducted. What is more, blockchain enables complete transparency, therefore, all transactions can be tracked and are open to the public, thus providing transparency to all financial operations. ICBA offers the advice and understanding of how this can be done within the system, rather than relying on third parties doing this for you. Thus, you have full control of your financial transactions, authorisation, legality while being fully legally compliant with all regulations. Therefore, giving you the financially and status freedom of becoming either your own company or individual financial person.
ICBA offers three different memberships; Classic, Business and Partner. These three memberships offer even more insight and personal help from the creators, in order to achieve an individual financial standing the world has to offer, and the details can by sending a request to this link.
ICBA showcases that new technological advancements are not radical but incremental and may assist you in many ways. 80% of financial transactions are digital, however, cryptocurrency as a digital currency is feared of. Therefore, ICBA is a golden gem, which we have been waiting for, to eliminate the fear which in turn is actually a golden ticket being presented to us for so many years.
Time to get some financial clarity and also work within the system and not be worked by the system. Blockchain technology has been here for a while, and it was created for a reason, its time to understand what this reason it, and it looks like ICBA is the one who will provide us with this.
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