BankEx

BankEx is a new generation of banking service built on blockchain technology, allowing banks to exchange their products over a secure and modern platform that works on proven concepts. It’s a proof-of-asset protocol, meaning that the tokens are secured against some actual asset. The main idea behind the system is that client assets are tokenized and converted to money in a much faster and more streamlined manner compared to traditional trading instruments. This can give potential investors a much more stable platform to work with, with a reliable cash flow that’s easy to follow and convert to different types of assets.

Target audience

It's interesting to note that BankEx is aimed at banks, not their customers directly. The system aims to solve some long-standing problems of the traditional banking industry, allowing the institutions to control their assets much more adequately as opposed to what traditional financial technologies made possible. They are already drawing a lot of attention from asset owners though, with many who’ve declared their intention to tokenize some of their assets and join the new system.

The hype is indeed strong in the private sector just as much as on the commercial side, as many users are already seemingly interested in trying out BankEx and seeing what it can bring to the table. It will be interesting to follow the discussions that arise from it, as there is a lot of potentials for some interesting notes to be made about the way it affects the market.

Issues addressed

The main issue that the system seeks to address is that of liquidity, allowing assets to gain the greatest potential value they are capable of attaining. The end product is standardized, as opposed to dealing with multiple different types of assets, which can allow for much better control of your position on the market. For example, you have the opportunity to trade against other assets without the need to convert anything in intermediate steps. This will not only benefit those with a diverse portfolio, but also those who are interested in trading as actively as possible and don’t want to limit themselves according to the diversity of their own assets.

Buying in

To buy in, you’ll need to purchase at least one token, and the sale will start at around 500 tokens per 1 Ether. The use of Ether is actually an important note here, as the organization does not accept traditional currencies like EUR and USD for the buy-in. Anything that doesn’t get bought during the initial sale period will get destroyed, so it’s hard to predict the exact state of the BankEx internal economy after this period is over, as it will be entirely dictated by user trends.

Other than that, you’ll find many of the traditional aspects of a typical cryptocurrency, such as the ability to mine tokens, and the fact that tokens themselves are used for transaction verification purposes. The organization seems to be aiming to make things as comfortable and familiar as possible for users coming in from other similar technologies.

For more information please visit https://bankex.com/en/