BABB — The Decentralised Bank for the Microeconomy

Februari 20, 2018

Crypto ecosystem is growing with the value of crypto market cap, and infrastructure is being built upon Blockchain technology. A lot of cool projects are reforming the processes and business, and even the world as we know it. Crypto currency space is growing bigger and bigger by the day. A lot of people are entering these wild markets hoping to get rich or learn something about Blockchain technology. But crypto is not just about getting rich fast.

One of these cool crypto projects that is reforming things is a part of or next story. It is called BABB ( Bank Account Based Blockchain ) — https://getbabb.com/ . BABB is a platform built on Blockchain technology, using Ethereum network and its smart contracts and ERC compatible tokens. It is decentralized so nobody is having control over the network, which adds to the trust into system. Also, everything is public, every transaction. BABB will make a perfect fusion between old and new world. Between crypto and traditional banking, using state of the art technology and AI, including biometrics, which is a must, going forward into digital personal identification. BABB is aiming to do what has been tried many times and failed every time. Banking for the un banked, for the poor in the third world countries. Now everybody will be able to bank with BABB. They will make a user friend mobile application which will allow easy access to your account on the go. It will be aimed. They will also be issuing debit crypto card, and you will be able to spend your crypto in a brick and mortar shops or online. BABB will be perfectly in line with regulations and laws. System is even more secure because of blockchain technology. Native token on the platform will be called BAX. We are happy to see project like this coming to crypto space, they are enriching both us and the infrastructure that is much needed.

BABB is decentralized banking platform that leverages blockchain, AI, and biometric technologies to offer anyone in the world access to UK bank account for P2P financial services.

BAX is an Utility token that powers the BABB platform. All services, fees and licensing costs on the BABB Platform are paid with BAX, and our Mobile app makes it easy to acquire BAX at any time without taking additional steps or affecting the user experience.

Platform

MOBILE APPLICATION

Our mobile application allows anyone to create a UK bank account without any ID document. A fully verified person on our platform can help you get access to your own basic bank account and users can control their money via an internet connection, regardless of location. Smart contracts enable the BABB platform to feature regular banking functions like payments, transfers, peer-to-peer transactions, etc,

BLACK CARD

This card is a card that is linked with your BABB bank account that ensures secure payment. Being the first bank card that does not contain any personal information on it, the card allows you to carry out transaction in shops and to others. Business people can accept payments for a commodity using the BABB card by downloading the BABB app and scanning the QR code or through NFC and instant payment will be made into their account. The BABB card can be issued to your family and friends as a prepaid card and the card doesn’t need a pin or chip. The black card can be unlinked from your bank account when lost, with a new one being available for next day delivery from major online retailers. It can also be linked back to your account if found, by simply using your BABB app to scan the QR code on the black card.

BENEFITS OF THE BLACK CARD

· Availability

· Affordability

· Security

· Ease of distribution

· Non-presence of entry barriers

How to buy BAX

To buy BAX in the BABB token sale, you need to first register at https://getbabb.com and pass KYC checks.

You will find full instructions on your dashboard once the token sale opens and you can also read about how to participate here.

Who Is It For?

BABB platform’s great impact on the micro-economy will have a great effect on the various individuals and businesses all over the world. Not only that it is suitable for the central banks and the developers, but it is also highly convenient for the end-users and the token sale participants who can buy and keep the BAX tokens on the BABB platform, as well as benefit from it. Generally, the targeted users of the BABB services have no exceptions, as it is created to be universally adaptive, life-altering and almost unconditional.

The BAX Token

BABB is launching a distributed application platform where FIAT funds are tokenized. These tokenized funds will be used by the BABB APP Bank, partner services, banks worldwide, as well as central banks in developing countries.

The BAX token is used under the hood to operate the services of the platform across all the geographies and jurisdictions served by the platform. A summary of the token details can be found on the table in Appendix IV .

BAX will be implemented on the public Ethereum blockchain as an EIP20/ERC20 token. The Ethereum blockchain is currently the industry standard for issuing custom digital assets and smart contracts, and is compatible with the existing infrastructure of the Ethereum ecosystem, such as development tools, wallets, and exchanges. This active ecosystem and technology make Ethereum a natural fit for BAX.

Here’s an overview of the flow of BAX over the whole ecosystem: