Boom is Flipping 180 Years of Banking Orthodoxy

In 1842, the landmark case Parker v. Marchant established the principle still at the heart of banking today:

When you deposit money in a bank, it becomes the bank’s property, and you are merely its creditor.

This legal precedent, later reaffirmed in Foley v. Hill, means banks are free to use your money, invest it, and charge you for the privilege, so long as they can repay an equivalent sum.

Boom is rewriting that story. Our model mimics the direct control of “cash in your pocket” in the digital realm, returning financial power to the individual.

How Boom Breaks the Banking Paradigm

Self-Custody, Not Bank Custody In traditional banking, your money becomes theirs. In Boom, your digital cash remains yours. You hold it, you control it, just like physical currency in your wallet.

100% Sovereign Guarantee

Every pound, dollar, or shilling you load into Boom is fully backed by your government. We achieve this by lending all collateral to the sovereign state via government bonds, then issuing equivalent digital cash to you. Unlike banks, where only a fraction (e.g., FDIC insurance) is guaranteed, 100% of your funds in Boom are state-guaranteed.

No Fees. Ever.

£100 in a Boom wallet today will still be £100 a decade from now. In a bank, the same deposit is slowly eroded by fees, often turning into a negative balance over time.

Instant, Fee-Free Payments

Pay someone £50 in Boom, and they receive £50 instantly, no fees, no delays, no skimming, exactly like handing over a banknote.

The result: Boom merges the trustless, direct nature of physical cash with the reach and speed of the internet, without the compromises of the banking system.

We’re not just digitising money; we’re restoring its original promise.

• Peter Alfred-Adekeye
  Founder, Boom
  www.boom.market - the global financial operating system for Cash