Argentas is about decentralizing global banking. As a robust second generation blockchain project, Argentas helps build new open global financial system that is accessible, inclusive and has no barriers to entry. The Argentas ecosystem will be formed around its core HydraNet blockchain, network interfaces and bridge entities, and an eventual decentralized application platform focusing on global financial applications. Argentas has the potential to become the blockchain for global decentralized banking of the new era, disrupting the outdated banking business model by recreating the banking and other financial services functions on a modern decentralized distributed ledger i.e. blockchain platform for maximum ease, convenience, speed, security and savings in cost and effort.
Traditionally, banking services have been offered in a centralized closed ledger context that is risky and prone to attacks. Banks have created money through fractional reserve banking. Interbank payments have taken place through outdated, slow and expensive infrastructure (Swift etc.). In many parts of the world, excessive regulation and not always very smart public policies have made banking industry weaker, unable to fulfill its economic function of financing economy, unable to generate sufficient returns and unattractive in general, in addition to old-fashioned business models and infrastructure that was never updated or upgraded to meet the needs of the Internet era. Being crushed by both over-regulation and new technologies enabling new ways to offer banking products and services, the current banking operating model is dead. It is time to change this.