Frank Schuil Part 3

Frank Schuil 
Safello CEO
Stockholm Sweden

In part 1 of my interview with the cofounder and CEO of Safello i focused on the business. In part 2 we focused on bitcoin and the community. In part 3 of the interview we focus on Frank’s experience working with the financial sector.


The questions i asked Frank Schuil on bitcoin :
  1. Please elaborate on your experience being part of the Techstars program in London and being the first Bitcoin company to close a partnership with a global tier I bank, Barclays. 
  2. On wise when asked your Biggest struggles with your business?
    you state : quote – “Most banks refuse to bank Bitcoin companies, our accounts has been shut down by 3 banks and in all cases without any acceptable motivation. In all cases with no official motivation. One closed down our account before we even did any transaction, baffling.” after that experience, how then did you motivate yourselves to continue to pursue partnering with banks?
  3. Out of that came – an announcement from safello that it has created a Proof of Concept (PoC) partnership with Barclays, that announcement was made some 6 months ago, how is it working out, UPDATE? 
  4. in an article by ars technica in sept 2015, the headline wrote 
    Barclays to become the first major bank to accept Bitcoin, it was updated some time after to state clearly  that Barclays will not be directly accepting bitcoin deposits. “No Bitcoin is travelling through Barclays systems. Do you think this sort of misinformation hurts mainstream bitcoin adoption? Source –
  5. I sat down with an SEB labs guy yesterday, he stated frankly that they had orders from above that bitcoin was a dirty word, and to only refer to blockchain or block tech as some people have started to call it. If bitcoin is a dirty word in the banking industry do you think there is an active incentive for those banks to disrupt the disrupters as it were? divide the original community in order to conquer? 


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