Simple Founder Launches Blockchain Based Sila

Former co-founder of the digital bank Simple, Shamir Karkal, is launching a new firm Sila to help connect banks to the blockchain; the launch comes at a bad time for the technology with a lot of the hype gone and some of the biggest banks not seeing use cases for it; Karkal explains to American Banker, “Having a distributed ledger and transparency and the capabilities that come with it is quite interesting but it doesn’t solve all your problems. You still have to build products, go out and find customers and have the right product market fit.”; Sila offers a prebuilt code for banks to verify customer identity, debit and credit bank accounts and more; the company currently runs on ethereum but can run on other blockchains. Source.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.