BABB - Learn About This Decentralized Platform For Banking
BABB is striving to create a new decentralized banking system for people using blockchain technology. There will be a payment card available and the account can be managed from an application on a Smartphone. They plan to establish partnerships with traditional banks to allow for the integration of other currencies. BABB is going to apply for a banking license and they are currently an Authorized Payment Institution. BABB stands for bank account based blockchain.
The goal of BABB is to allow anyone in the world to open a UK based bank account. They plan to be fully compliant with regulations in the UK. Any person will be able to open an account without credit history or an address in the UK. The only thing needed to open an account will be a form of identification such as your passport. There will also be limited services to those who do not provide identification documents.
Blockchain technology is going to be used for the transfer of funds throughout the world. BABB will have tokenized fiat currency available on the platform as well as their own token, BAX. The banking system will be available to anyone.
A key function of the BABB account is that in addition to having the ability to transfer cryptocurrency, the accounts will also have an IBAN number for international wire transfers. This allows for easy transfer of funds between many different types of accounts. The mobile app allows for easy management of funds and you can even set up loans to earn income. Another method of accessing funds is with the BABB Black Card. It is quite similar to a traditional debit card or pre paid card. Retail stores will be able to accept it be simply scanning a QR image code. Please read more about this project by visiting the websites shown below.
Whitepaper link: https://getbabb.com/babb-whitepaper.pdf
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