Snapchat for Bankers? This Text Will Destruct in...

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Jan. 9 (Bloomberg) -- Bloomberg’s Hans Nichols reports on Confide, a new app that is being touted as the Snapchat for professionals. He speaks on Bloomberg Television’s “The Pulse.” (Source: Bloomberg)

Our very own ethan hunt is here.

Hans nichols is here to explain.

This is a challenge we probably all have.

You want to send something confidentially but you are concerned about leaving a digital footprint.

Confide has come up with a way to target businesses.

They want this to be snap chat for the c-suite.

We are going to give you a demonstration here.

I have received a message.

Click this on.

There is a message.

See how this is covered.

You run your thumb across and you see the message and it says sell all your bitcoins.

China's central bank is about to ban it.

You have three minutes.

#insidertrading.

Obviously we are not insider trading here.

[laughter] but you can reread it?

For two or three minutes.

You cruise across.

It would be very hard to take a picture of this and it does it now when you want to reply.

You can screen grab it, all those things?

The technology is always one step ahead of the guys in the i.t. department.

This is whether the regulators are going to be concerned.

This is why we used the insider trading example.

Parkways is paying a $3.75 million fine for not saving electronic medications.

Special companies that are regulated, what are the required to archive?

What is required by the law to archive?

Will this lead to illicit activity or will the very resumption that you're using this lead to the resumption?

This could just be gossip.

All the stupid things we message about throughout the day.

90% of mine are forgettable.

80% are fighting.

Samsung, iris scanning, security is a big deal now.

March or april they will likely have their new phone.

They will have iris technology and your communications will be secure.

Thank you so much.

Fascinating story.

All about that data security,

This text has been automatically generated. It may not be 100% accurate.

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