BankEX Platform Ready to Launch Public Token Sale

BankEx Platform

BankEX fintech startup, founded by Igor Khmes who’s previously managing director of the Sberbank Innovation Lab, ready to launched their token sale (BKX) soon. Recently in February 2017, BankEX and Microsoft has sign a blockchain technological development partnership. From the partnership, BankEX received $120000 from Microsoft Azure for the sponsorship.

In April 2017, BankEX start to developing BankEX Asset tokenization business by using the Proof-of-Asset Protocol (PoA). BankEX PoA is a standard protocol that allow new generation of assets and contracts called Decentralized Capital Markets. BankEX team development has also build Internet of Assets (IoA) based on the principles of Bank-as-Service (BaaS) powered by IoT and AI technologies.

With the BankEX PoA, the team project convinced in their whitepaper that the protocol will be able to solves the issue of non-fungible asset liquidity. BankEX PoA, was built as a combination with BaaS and the blockchain technologies. When the token release by using BankEX PoA, its means that the token released as a part of the protocol, was ensured with an asset.

BankEX PoA will be able to use in several cases, including for the real estate sectors and finances. For example, BankEX PoA will able to use in secondary market for new building, in real estate with IoT, VC Portfolio as a secondary market for private shares, retail franchise network, drinking water in non-profit organisations, minery in mezzanine financing, for car sharing platform, or for special purpose acquisition company.

The platform PoA was based on Ethereum smart contracts, quiet similar with a micro service architecture for business application, were the blockchain as the structured. BankEX PoA also using the number of steps with the contract content required on each steps determined by the business logic of the asset that will be tokenized.

If we looking at the token creation procedure with BankEX PoA, there will be five logical steps. The five steps for the token creation are, initializing the contract, validation, audit, legal, and proposal. Within audit and legal steps are offchain legal condition, since the implementation of smart assets are extremely complicated.

Taking the benefit from the powerful of blockchain technology, the platform aims to also solving the liquidity as the common problem of the main barriers of economic progress. With the blockchain technology, the platform was offers to organise the flow of diverse assets to be characterised as illiquid.

Typically, for large bank or corporation try to solving the liquidity problem by securitisation, but unfortunately that option will be taking for 6 month or more, while the cost might between $300,000 and $1 million. With market worth at least about $10 trillion, BankEX would having a good future regarding in their platform.

About the team behind the BankEX platform, there will be no doubt about that, because all the team were professional in fintech. No wonder in May 17, 2017, BankEX listed in Top 50 on Finalist of Barclays Tech Star in Tel Aviv by Financial IT.

About the platform development, recently in October 23, BankEX have released a demo version for BankEX smart asset creation. At the moment, there are only 3 types of smart asset available, such as car token, real estate token, and Apple device token.

BankEX Token Crowdsale Detail

Token Name: BankEX token
Token Symbol: BKX
Token Base: Ethereum ERC20
Token Sale Start: To be Announce Soon
                                                                                                                   
WebsiteWhitepaperBankEX Bitcointalk Announcement

 

(User UID: ICO Magazine)

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