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ARYZE Digital Cash

This idea is a part of 360 Challenge 2019

July 2, 2019

Today, something as simple as transferring money is a complex and expensive process that requires traditional intermediaries and procedures that technology is soon to replace. Intermediaries that must verify transactions are numerous, and all require a small fee and time to process a payment. It all comes down to the fundamental problem that money, in its current form, is still quite analog. With the rise of distributed ledger technologies that can dramatically cut reliance on intermediaries for verification, identity, counterpart risk, and settlement time, there is an enormous opportunity to improve the vehicles for moving money around the world at virtually no cost.

We see a trend for the future in which trillions of dollars’ worth of financial assets will be digitized, stored and moved via distributed ledger technology. However, a unified platform that is based on currencies that the traditional world is already familiar with is missing. ARYZE seeks to address this gap in the market by creating Digital Cash – a truly digitized representation of sovereign cash that is stored in a secure, non-fractional reserve model, accessible by mobile devices, with programmable features for the next generation of financial technology innovation. Users entering into our ecosystem deposit money via a bank transfer or credit card, whereupon we collateralize the majority of the issued electronic money in the form of central bank issued bonds. The remainder of the deposit is held by correspondent banks, depending on the region and currency.

The mission is to address a broad retail customer base for remittances, where we see more than $640 billion USD being moved on a yearly basis all over the globe. We will provide mobile, digital banking services for millions of migrant workers and the value of having these customers is enormous, as we can create new fintech service products for them down the line, either in-house or through partnerships. However, the road to market is primarily through businesses, as we cannot hope to compete with major established competitors in marketing to retail customers. Our strategy is to provide highly competitive and attractive Digital Cash products for businesses, in order to onboard paying customers which in turn have incentive to market the consumer products for additional cost savings for aforementioned businesses.

In order to be first on the market with this unique product, we plan to tokenize the US dollar as our first Digital Cash currency. We believe that this approach will limit risks in relation to the competitor landscape, rather than establishing ourselves in outlying currencies first and then moving towards the dollar. Our business model is centered around keeping customer deposits safely in our ecosystem. We earn revenue from deposit interest, foreign exchange currency spread, as well as business subscriptions to our platform, and developer licenses. Our platform will be free to use for consumers, but businesses and corporations will be able to select from a wide range of premium application- and integration services at varying price points.

The ARYZE team consists of financial technology and banking experts, with the managing team comprised of Jack Nikogosian (CEO) and Morten Nielsen (CFO). Nikogosian is the former Head of Innovation at Coinify Innovation Lab, where he was heavily involved with bringing new blockchain payment solutions to market. Nielsen is former Head of Global Hedge Fund Derivative Marketing at UBS, with 6 years prior experience in senior positions at JP Morgan London. The remainder of the current team consists of communications, marketing, finance, ledger technology and product development specialists from a wide variety of backgrounds. The full team can be viewed on our webpage.