Cryptocurrency Bank AriseBank To Acquire FDIC-Insured Bank; Partners With BitShares.

[bsteadman]

Huffpost
by Michael Taggart, Contributor
12/14/2017

Excerpt:

Dallas, TX —- AriseBank announced that they have reached an agreement with an FDIC insured bank, that has been operating in the United States for over a century, that they will acquire them before the end of the year. This comes on the heels of their record ICO launch, where AriseBank plans to raise one billion dollars, which would end up being a record in the ICO investment space.

“We are very excited to be at the forefront of history today. We feel like this was going to happen eventually and wanted to get the process started for the industry as a whole. There are certain people who may disagree with this move but, it has to happen eventually. The bank we are acquiring has hundreds of banking partnerships across the world and many certifications and licenses that make sense when it comes to interacting with our decentralized cryptocurrency platform”, said Jared Rice Sr., a co-founder and current CEO of AriseBank.

With this acquisition, AriseBank, the world’s first decentralized cryptocurrency bank, now has the full financial capabilities of traditional banking coupled with the power and platform of real-time crypto-banking including a global network of ATM’s, debit cards and an AI trading platform.

“The world’s first federally compliant, decentralized bank invites visionary strategic partners from all countries”, said Eddy Taylor a BitShares partner and a current advisor to AriseBank. “Arise features will include quantum computer-safe operating systems, multi-crypto debit cards, cell to satellite global outreach and much more”, he said.

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View the complete article image and links at:

https://www.huffingtonpost.com/entry...b00caf3d59eb28

[InspectorSmith]

I too heard some talk during the last 2 months or so regarding 'AriseBank' and a partnership with BitShares. At first I thought that this might be worth writing about.

However, I don't believe there's any real partnership (really no partnership at all).

'AriseBank' was supposed to be a bank (sort of) with their own cryptocurrency 'Arisecoin' (an ERC20token on the Ethereum blockchain) which would allow members (or any using their product) to sell, buy and spend (much like a bank account debit card) many different cryptocurrency, including BitShares (among hundreds of other cryptocurrencies). It should be noted that 'partnerships' and permission are not needed to use public blockchains.

At some point (or points) the the 'creators' of AriseBank spoke with the Larimer family (the creators of BitShares, Steem and EOS) regarding the Arisebank project.

There are videos from over a month ago of Stan Larimer (the father of Dan Larimer) being interviewed and talking about news and developments related to BitShares and it was made clear that while 'Arisebank' can of course buy and sell BitShares (and other cryptocurrencies) that this wasn't really big or important news (he then went on to discuss, as he typically does, the real news and upcoming the developments regarding BitShares).

I think what's happened here is being that the Larimer family is sort of a 'nice, friendly traditional and intelligent American family' they were easy to contact (as opposed to the creators of other blockchains) and somehow this news starting coming out about some sort of partnership.

I have no official opinion regards 'Arisebank' but I'm not very convinced that there's anything great or significant about it. Moreover, much of the news regarding 'Arisebank' (put out by 'Arisebank' themselves) was either misinformation, error or deceit (e.g., acquiring a 100 Year Old FDIC insured bank). It appears that rather buying a bank there was a 'plan' to acquire 'KFMC BANK HOLDING COMPANY' and perhaps some other company.