Like many early bitcoin developers, Joshua lost a lot of money on one of the first Crypto Exchanges MtGox due to the Exchange being totally intransparent. Joshua then sat down with his Brother Philip Scigala to start development of an exchange transparency protocol.
The two developed the glass books protocol, which enables radical transparency for exchanges and future crypto banks while keeping the clients private.
The next step was to create an exchange where the counter asset was fully owned by the client. Most people don't know that when they put money in the bank that it is no longer their property but now the property of the banks. This enables them to speculate with the funds. Instead, Joshua wanted an exchange where people traded into allocated gold. This gold is fully owned by the user and off the exchanges balance sheet. Not even liquidators could touch Vaultoro's client's assets.
The future of banking and exchanges should be full transparency and in a real asset that can be speculated with unless the owner wants this.
The vision of Vaultoro is "To digitise the world's assets and make the transparently accessible to everyone."