Bankex - Make your Assets Smart

cryptotaofficial (56)in #blockchain • 7 years ago

Let's assume I have an old car, a complement of second-hand furniture and shares in a business that doesn't do very well and is struggling to get some financing. I'm planning to sell all this stuff and put it on the market. Then I wait for a long time, at the same time conducting endless correspondence with the potential buyers, who ask about the particular conditions of the things I sell and haggling about the price. Eventually, I sell it, after spending a lot of time and efforts, thinking what difference all this wasted time actually makes regarding the result.

This is a centuries-old problem of illiquid assets. The assets with the highest liquidity are currencies or say bonds. It's fairly easy to buy and sell them, and it can be done quickly. Considering that time itself can be considered a valuable asset, it's important. Assets with low liquidity like old cars and furniture have nominally the same value as liquid assets in a form of an adequate price the sellers ask for them, but it takes a lot of time and hassle to actually sell them. To solve this issue, the markets came up with a number of instruments like derivatives. And while the derivatives solve the problem of liquidity, there are still other problems regarding the situation with underlying assets they represent, especially when those are, for example, risky mortgages or equities in startups.

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Bankex offers a different approach to the problem of liquidity based on an idea called "Proof-of-Asset Protocol." This approach utilizes the potential of blockchain technology and smart contracts in a process called "Tokenization." During this process, Bankex assesses the value of the asset it plans to tokenize, as well as its specific properties and potential risks. Then eventually it issues a token called "Smart Asset Token", that represents this asset. This token itself is a highly liquid asset that can be easily traded on the markets. Plus the value of a single asset can be split between multiple buyers. For the small businesses and startups, it's also a quick and efficient way to attract funding, with the shares in their business represented by Smart Tokens. What's important that the technology of Smart Contracts, on which the platform is based, guarantees investors, that they will get the share of profit, it's just preprogrammed in the Smart Contract and cannot be changed.

Token Allocation

Planned use of proceeds

Right now Bankex is conducting the sale of 80,000,000 BKX tokens. The project has already attracted more than $28,000,000 in investments which are going to be directed mainly to the software development and B2B promotion.

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