Developed by BANKEX, the proprietary Proof-of-Asset Protocol is a standard which achieves an unmatched transparency of the asset trading process. Although the POA Protocol is still a fairly new kid in town, its potential is really huge. In fact, some experts claim that it’s gonna create a sort of revolution in the way online transactions are made.
How Does the Proof-of-Asset Protocol Work?
The Proof-of-Asset Protocol is the reason why BANKEX can provide the customers the Bank-as-a-Service system based on the blockchain technology. Basically, the Proof-of-Asset Protocol works as an additional part of the asset trade process, adding to its transparency.
It allows the owners of the assets to have a total control of the asset liquidity. This means that every token issued through the use of the POA Protocol is backed by a genuine asset, which is controlled by the system at any given moment.
If you’re finding it hard to understand the method of operation of this protocol, perhaps its best to move your focus to other things. For example, you may wish to learn more about the benefits of using this type of the securitization process.
Pros & Cons of Using the POA Protocol
According to the founder and CEO of BANKEX, Igor Khmel, the days of traditional banking are over. The systems most banks use today are very much outdated. They have a number of disadvantages, almost all of which are directly affecting the clients. The only reason why banks are still very much in charge of almost everything money-related is that people are not aware that alternatives exist.
Actually, the fact that not many people have heard about the POA Protocol is its main flaw. There seems not to be too many cons of this system, which is why it’s better to focus on the pros. Apart from providing the clients with complete transparency, this standard also adds to the speed of transactions. Finally, the Proof-of-Asset Protocol is also great for the fact that real assets are used, so the danger of frauds is nonexistent.
What to Expect from the POA Protocol in the Future?
In 2017, BANKEX was included in the list of Top 50 fintech startups of the pathfinder ranking. The main reason for that is the success of the proprietary Proof-of-Asset Protocol. Although the Protocol has already received a lot of praise among the experts on this subject, it is yet to become a household name around the world. But, the chances are that it will happen in the near future.
So, Should You Start Using BANKEX Proof-of-Asset Protocol?
It seems that Proof-of-Asset Protocol is the future of online banking, which is why it would be wise to get involved in it right away. You can learn more about the Protocol by visiting https://bankex.com/en/. That is the place where you can get all the info you need about the POA Protocol, but also about all the other technologies developed by BANKEX, including IoT blockchain Integration Adapter, Plasma Protocol, Multicurrency TokenSale Engine, etc.