Blockchain Bank BABB Names Paul Johnson As CIObr>
Blockchain banking startup BABB (Bank Account Based Blockchain) has appointed Paul Johnson as CIO. Johnson previously led Aldermore, spearheading the development of the world’s first decentralized bank.
During his time at Aldermore, Johnson oversaw the bank’s IPO in 2015 and led its asset expansion over a four-year tenure.
“I can only see blockchain technology as the next step in the evolution of payments and asset transfer in the future,” said Johnson. “The BABB proposition highlights this extremely well with the ‘everyone is a bank concept’ and I am excited to be joining the team to build this platform.”
BABB is developing a decentralized bank powered by blockchain technology that will enable anyone in the world access to a bank account for peer-to-peer financial services.
BABB will use smart contracts on consortium blockchain, machine learning, artificial intelligence (AI) and biometrics to create a next-generation banking solution.
“Paul’s wealth of experience in planning for growth, resilience, cyber security, regulatory compliance, business operations and go-to market strategy will be of great value to BABB’s long term vision,” said Rushd Averroes, founder and CEO. “We want to enable everyone to benefit from a banking, payments, and peer-to-peer lending services regardless of their background, location or income.”
Johnson officially joins BABB this month as it prepares its two phase initial coin offering (ICO). His immediate tasks will be to ensure BABB is fully technically compliant with UK banking regulations as it works towards its UK banking licence. BABB is already an FCA Authorised Payment Institution (API).