Taking Care of the Micro-Economy with BABB
Hi everyone! Today I will tell you about one more solution for the unbanked consumers expanding the services of traditional banking systems that do not meet the requirements of the consumers in the modern world of the third millennium. This article is a BABB project review, which is a decentralized bank for solving microeconomic problems.
In fact, BABB is an online platform based on blockchain technology that provides individuals and legal entities with a UK bank account. The BABB platform is a combination of blockchain technology, identity technology based on biometry characteristics and artificial intelligence. Thanks to a powerful combination of these innovative solutions, such individuals, often rejected by banking institutions, like freelancers or small and medium-sized enterprises will be able to safely access loans and the necessary funds. In addition, due to decentralization, unshakable control of banks over personal data and user money can be avoided. The solution combines an application for a smartphone, through which you can manage transactions on the account, and a payment card which contains no personal data providing even more security. Thanks to such features as easiness of distribution, scheme absence, affordability and high security, the BABB Card will seamlessly penetrate into the poor countries with a low rate of banked people.
The BABB Card Potential
In order to open a UK account, you only need a smartphone with an application and a passport to pass verification or a person who has already completely passed the verification to be a guarantor for you. Then, you will have access to your wallet whenever you have the Internet. The wallet can be used for the crypto as well as fiat currency (which is possible thanks to tokenization). Use of the wallet-application will be completely safe due to the protection system provided with several factors of authentication and tracking of activity and user preferences option. As per the developers, the transaction is executed instantly. After tokenization of funds, any transactions can be made without the need for intermediaries. For all operations on the platform, a special BAX token will be used.
Example of the P2P Cash feature
In order to raise funds for the project, the team launches the token sale. The pre-sale stage is already successfully finished. The next stage starts on February 6. In total, it is planned to raise $12 million, the minimum deposit amount is 0.2 ETH. During the first two days of the token sale the team will only accept ETH with the wire transfers possibility following the next days. So, do not hesitate to register in advance – you can receive a 15% bonus as the early contributor! You can also support the project by participating in the variety of the bounty campaigns (see the links below for more information).
Project Whitepaper: https://resources.getbabb.com/whitepapers/en/babb-whitepaper.pdf
BCT ANN Thread: https://bitcointalk.org/index.php?topic=2349340.0
BCT Bounty Thread: https://bitcointalk.org/index.php?topic=2349361.0.
My ETH-address: 0x9F8051399114A4C8b9A742Dbb51C10162E61F234
My BCT profile link: cr_liev (https://bitcointalk.org/index.php?action=profile;u=1046642;)