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Tuesday, December 7, 2021
Home News Swiss EY Team Joins Polybius Cryptobank as Advisors, ICO to Follow

Swiss EY Team Joins Polybius Cryptobank as Advisors, ICO to Follow

Swiss EY (Ernst & Young) Partner Daniel Haudenshild, financial services managers Valdemar Scherer and Sven Möller are collaborating to lead the Polybius project team on banking operations, technology, and legislation. Polybius aims to create a regulated, decentralized bank for the digital generation and the company is planning an ICO this May to garner community support for its initiative.

The London-based audit and consulting firm, Ernst & Young is one among the “Big Four” audit companies. Many of EY’s activities involve advisory support to financial institutions.

The Polybius Cryptobank project attracted the attention of Swiss financiers at the BlockchainUA conference held in Kiev in March. Experts from EY were interested in the idea of re-inventing the bank by using a combination of traditional banking services for all segments of the population, business types and latest technology solutions like blockchain and artificial intelligence to reduce costs, increase efficiency and profitability.

Advisors from EY have noted how competently bold and unconventional moves like document circulation on the blockchain and the system of remote verification of the user’s identity for interaction with commercial and governmental structures fit into the latest EU regulations.

The evolving financial market and changing requirements for EU regulations have driven the European regulators to be at the forefront of technological changes and regulatory requirements. It is a need of the hour to ensure the preparedness of EU’s financial institutions for the ensuing opportunities and bold future undertakings.

Partner at Swiss EY Daniel Haudenschild applauding the efforts of Polybius said:

“We are impressed by the consistency of the Polybius team and how successfully their ideas fit into the opportunities that are opening up against the background of the changes in the European legislation.”

Polybius Cryptobank, a project established by the Estonian company Polybius Foundation, is a payment institution offering classic banking services fueled by most modern technologies that meet the strictest requirements of European legislation.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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