whitePaper | July 19, 2022
Paul Allen, an American business magnate, investor, and philanthropist, had a vision to create better money. He found it confounding that he with his billions would pay less to transfer money than the poorest amongst us.
Paul wanted to make money more equitable by making it more efficient and independent of any one financial institution. His team at Vulcan, along with several experts in financial technology, distributed systems, software, and financial regulations, came up with a design they called Xand, playing off Alexander Hamilton’s name, and spun out a new company, Transparent Financial Systems (Transparent) to develop it.
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