Some of them are already implementing technology for transactions that take less than 5 seconds.They feel the pressure a lot.
That pressure and competition is great for everyone. I imagine banks will be able to match up with some of the advantages that digital currency brings to the table as well as adopt other non-fiat digital currencies to keep a larger market share and combine the advantages where possible. Being able to manage your own funds is a great option but factors like speed, convenience, protection, trust, cost and value will be more important to the majority of users. Our vision is that the user will be able to decide how to manage their funds best and the level of risk and protection that is best for some or all of their funds.
So is DNotes putting their name in the hat? Have you reached out to them?
Reached out to who and putting our name in the hat for what? The article was about Etrienne Goosse from the European Payment Council making a statement to urge EU banks to step up and compete with the emerging fintech technologies.
Well, reaching out to the EU banks and saying this is what we have and using DNotes Global as a stepping stone to possibly assist them with what they need. Kind of like a sales person would do. Just simply say "hey we are here and we exist and can possibly assist you in what the European Counsel is trying to push them with. What if the EU banks decide to go with what they are requesting? Then the DNotes name could be someone they look at for assistance if the want to move forward with such a venture. If a EU bank decides to go forward they will reach out to Fintech? who would they reach out to?
Gotcha, yes, you are absolutely correct in that it is a necessary component to DNotes eventual success. Alan has spent countless hours networking and making these kinds of connections and Tim has been building his network as well as made a couple of presentations. At this stage it is more of an offer to work together, explore the possibilities, and share information, rather than milestones that can be reported on, but nonetheless components that will become critical as we grow. This is also where DCEBrief and even more so with HERo, help to open those doors and the pathways to collaboration.