World’s first cryptocurrency bank opened in Singapore

IMG_6647

The co-Founder of Nuo, Varun Deshpande announced on twitter that they are opening a bank in Singapore. This is not just a normal bank but a virtual bank for cryptocurrencies. He also stated that they will open an ATM for virtual digital money as well.

They are also introducing a new technology- Advanced Robotic Account Managers (AARAM). What so fascinating about this bank is that this bank doesn’t need a real manager or a banker. Customers will be personally managed by AARAM at their branch. AARAM can give answers to the queries of users of the bank regarding cryptocurrency prices, private keys, decentralized loans, etc. Also, users can book their own AARAM by installing bank app and signing up for the app. It is a completely automated and decentralized bank which ensures no queues at all times. All users from around the world can avail services at no extra cost by visiting the branch.

Continue reading… “World’s first cryptocurrency bank opened in Singapore”

Establishing the Central Bank of Bitcoin

Central-Bank-of-Bitcoin-1

Futurist Thomas Frey: The year is 2024. It seemed like a piece of nostalgia to open a new bank account and get a free toaster, but this wasn’t any ordinary toaster, and it certainly wasn’t any ordinary bank. The new Internet of Things Toaster was one of the coolest gadgets of all times, and the Global Bank of Bitcoin was a charter member of Bitcoin’s new Central Bank based in Luxembourg.

 

 

Continue reading… “Establishing the Central Bank of Bitcoin”

Why there’s a big opportunity to revolutionize the financial system

bank hours

There’s a huge fortune to be made if you can solve the problem of cheap payments. Payments are one of 10 big problems that are crying out for a solution (others include cheap battery storage, water desalination, and a pill that makes you lose weight).

 

 

Continue reading… “Why there’s a big opportunity to revolutionize the financial system”

Your guide to offshore banks that may be right for you

The number of offshore banks where savers can keep their money and receive good rates is dwindling.

People trying to save are having a tough time at the moment.  It is very difficult to get a real return on savings because of low interest rates and relatively high inflation.  And there’s still the question of safety: the banking crisis which left millions of savers worrying about the security of their banks was only a few years ago.

 

New ATM with built-in lie detector to curb consumer credit fraud

atm_detects_lies

ATM detects lies

Russia’s biggest retail bank has invented an ATM machine with a built-in lie detector in order to curb the growing menace of consumer credit fraud. The ATM can easily pass off as a part of KGB’s ultra- modern and secretive operational tool. Other than the rather unusual inclusion of a passport scanner, fingerprint recorder and a 3-dimensional facial recognition, the machine is equipped with advanced voice-analysis software.

Continue reading… “New ATM with built-in lie detector to curb consumer credit fraud”

Bank in India Launches Branch Without Locks

UCO bank23453

Shani Shingnapur, the world famous temple town in Maharashtra where houses have neither doors nor locks, now befittingly has its first commercial bank branch with no locks on its front door. The public sector UCO Bank is the first to throw open the doors of commercial banking to this unique town of 3,000 people. Bowing to local religious sentiments, the bank last week decided to open the branch without a lock on its front door…

Continue reading… “Bank in India Launches Branch Without Locks”