French Economist, Former Central Bank Governor Links Up with SETL Blockchain Startup
The former governor of the Banque de France (Central Bank of France), Christian Noyer, has surprised some of his most traditional colleagues by becoming a member of the board of directors of a company called SETL< which is a blockchain startup.
Founded originally in 2015, the startup is focused on offering services of settlement and payment using the technology of the blockchain. Therefore, the clients of SETL would be able to transfer their money more quickly and in a more efficient way.
In case you are wondering why such a prominent economist has decided to join the board of the company, you should know that major companies like Citi, Deloitte, Computershare and Credit Agricole have already invested in it, so this is no ordinary startup but a very prominent one.
Christian Noyer has released an official statement in which he affirms that he is joyful of helping in this initiative and that he hopes to help the company move forward with its plans. The chairman of SETL, David Walker, has also welcomed the economist on the team and affirmed that this experience will be invaluable for the future of the company.
The chairman has also affirmed that the enthusiasm of the shareholders and investors has strengthened the company recently and that they are now choosing the right way to put their project on the market to become a very successful initiative.
Previously, the SETL had received an official license to operate in France by the Autorité des Marchés Financiers (AMF), the French regulator. Now that the company has set up its team for 2019, the plan is to start as soon as possible.
Another certificate that the company has is an ISO/IEC 27001m which was given out by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC).
Apart from this, one of the other most interesting things that can be found in the announcement is that the company has followed a different way than most crypto companies and decided to open connection to protocols like the SWIFT, which is used for international money transfers today. By doing this, the company differentiates from Ripple, for instance, which wants to be a competitor to services like SWIFT.