BABB is a bank for all

The entire civilized world has long been entangled in the web of the banking network. We do not even carry cash with us, because everyone has a credit or debit card, and most often they are both, and not just one. We all become dependent on banks.

However, there are countries where the banking system is not as developed as, for example, in Europe. In general, around 40% of the adult population in the world do not have access to banking services, hence, they are limited in financial choice.

Taking into account the fact that not all inhabitants of the planet Earth have access to traditional sources of financing provided by banks, BABB uses blockchain technology, biometrics for identification and machine training to offer revolutionary, decentralized banking services to people around the world. BABB will offer a UK bank account to any person or company in the world, regardless of origin, location or income.

In other words, BABB is a decentralized bank developed on the Ethereum platform, using blockchain technology to provide banking services around the world.

Biometrics

The main approach to the adoption of a digital ID (ID) is the capture and processing of biometric data, primarily the recognition of persons with the definition of human reality and multidimensional voice analysis. This allows us to provide a new account to anyone so that they can start using basic services without requiring a lengthy registration process.

Given modern technology, faces and voices are not enough to guarantee a 100% unique match. Then they are complemented by the comparison of additional signals and other forms of identity confirmation.

Peer-to-peer P2P authentication

In BABB, some users help verify the identity of other users. Each user who has gone through the entire verification process can vouch for other platform users, thereby helping to verify their identity. In addition to verification by other users, an additional check is also performed by analyzing social graph information.

This allows new users to receive services up to a certain amount of money transfers, and helps to distribute BABB to millions of people while ensuring the growth of trust in the network that exists in real life.

Extended identity check

In addition to biometrics and verification by other users, to gain access to more services and to remove restrictions, users are offered several methods to verify their identity, for example, by providing additional documentation or, if possible, electronic verification mechanisms for the individual.

Some members of the BABB platform can also provide additional means for verifying the identity of the people they invited to the platform, which can be used to increase BABB's confidence in any particular person. In addition, BABB also look forward to working with other projects that are currently developing a block-based solution based on digital identifiers.

All these decisions are combined together to form the digital ID of BABB account holders and make sure that they are legitimate.

BABB is already an authorized FCA (API) payment tool and will apply for a banking license in early 2018.

The BABB platform issues an internal BAX token to raise funds for the ICO. These funds will be used to develop the platform and mobile application, as well as to cover the cost of operating infrastructure, both cloud and blockchain.

The BAX token will be used as a means of payment for services within the platform.

ICO starts on February 6, 2018. For sale during the ICO, 10 billion BAX tokens will be offered at a price of 0.0012 per token. The first 1 billion tokens will be sold at a 15% discount. The maximum fee is 12 million.

More information about the project you can find on the official sites of the project:
https://getbabb.com
https://getbabb.com/whitepaper
https://twitter.com/getbabb
https://www.facebook.com/BABB-1939415502939310
https://t.me/joinchat/E7lsBw5BqFHVEz1etGm9ww
https://bitcointalk.org/index.php?topic=2349340.0