Six significant features of BABB that you need to know

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BABB is an innovative banking platform based on the blockchain technology that aims to provide a bank account for everyone in the world. BABB (Bank Account Based Blockchain) platform is being developed by the UK based company named BABB App Ltd. Currently, the company is licensed as an authorized payment institution by the Financial Conduct Authority and is planning to apply for a banking license in 2018. BAX tokens form the core of the BABB as it will be used as the primary payment method for accessing any kind of service on this platform. These tokens are special utility tokens based on Ethereum ERC20. BAX tokens will be sold by the company during its initial token sale event. Check out https://getbabb.com/ to learn more information about the pricing, availability and sale procedure of BAX tokens.

What are the main features of BABB platform? See below:

1. Payment card – The platform provides a decentralized payment card for every BABB user so that they can directly link the card with their BABB accounts. This payment card can function as a debit card or a prepaid card based on the user’s needs.

2. Mobile App – The user can be located anywhere in the world to open the bank account in the UK. Just taking a selfie and saying a passphrase is enough to open a bank account using the mobile app. Like traditional banking apps, you can send/receive payments using the BABB app.

3. Currency exchange – Always there is a transaction fee associated with currency exchanges. But, this limitation is overcome by BABB. How? Let’s assume that you need to convert Euros to USD. Simply open the BABB app and find the user nearby your location whose currency is USD. Exchange your Euros to that person and get the equivalent USD. That’s it. Very simple.

4. Loans – BABB users can earn passive income by lending money to others on the platform. The app will automatically schedule the payments based on the chosen interest rate and creates the smart contract for the same so that you can easily track and manage the payments.

5. Fundraising – BABB platform provides several kinds of tools for domestic as well as international fundraising for any cause. It is classified into three categories as given below:

• Private: The participants will be invited by the person who is raising the fund.
• Personal: The invitation will be sent to the friends and family members.
• Public: The invitation will be visible to everyone on the platform so that anyone can make their contributions towards the cause.

6 Payroll – Small companies can easily automate the payroll processing by setting up smart contracts using the BABB platform. This feature will be very helpful for making cross-border payments because of the low-transaction fees and high speed of delivery.

Besides the above-said features, BABB platform provides the flexible option for developers, businesses or third party providers either to integrate or build applications on top of the BABB platform. Sounds Interesting? Kindly visit https://resources.getbabb.com/whitepapers/en/babb-whitepaper.pdf to learn more interesting information about the innovative blockchain based banking platform BABB.