BFEX- PROVIDING THE WORLD WITH SUSTAINABLE FINANCIAL RESOURCES

PROBLEM STATEMENT

The world’s wealth is not evenly distributed, with the richest 1% of its population controlling about half the world’s wealth while about 8% live in abject poverty, and about 50% living on less than $2.50 USD a day. One of the major causes of this is the lack of access to sustainable financial resources with about 2.5 billion adults not having access to the service of financial institutions. As new and ground-breaking technological advancements are being made, it is only normal for the banking industry to evolve with technology. Traditional banks use a credit bureau which involves the evaluation of customers/debtors background and payment history for credit eligibility, which is not necessarily the best approach for nano-financing. This is because credit bureaus merely collect records of loans and payment history which does necessarily reflect the true financial situation of the borrower and relevant details on their identity. Also, traditional financial institutions do not offer micro-lending services due to issues with credit bureaus, forcing customers in need of micro-loans to resort to loan sharks and other micro-lenders that charge exorbitant interest rates.

THE BFEX SOLUTION

In a bid to alleviating poverty globally, and providing equal financial access to all by developing a more accessible platform, Bank Future Exchange (BFEX)- a Fintech company has been developed as a revolutionary solution to the inadequate access to banking and credit services. BFEX utilizes a revolutionary decentralized social trust credit scoring system which determines the credit eligibility of individuals seeking nano-financing.

The BFEX platform consists of three(3) major systems, each of which performing an essential function in the BFEX ecosystem.

• BFEX SPOTLIGHT: This is the social media channel of the BFEX peer-to-peer lending platform.

• PEER TO PEER LENDING: BFEX has developed a peer-to-peer lending system using hyper-ledger fabric to set up a private blockchain. This private blockchain ensures that issues that may arise due to transaction costs, privacy, security, and scalability are significantly minimized. The decentralized social trust credit scoring(DSTCS) of the BFEX platform has brought a new dimension to information gathering. Utilizing artificial intelligence and machine learning in verifying the identity of users, BFEX is able to assign social trust credit scores to customers. DSTCS is a decentralized credit rating system, thereby, completely eliminating third-party credit ratings while providing more accurate credit-eligibility ratings for customers. The DSTCS will be used in matching creditors on the platform to individuals seeking nano-financing.

• BPAY E-WALLET: The BPAY wallet is a digital wallet which will be used for the BFEX tokens. The BPAY wallet will be used for the transfer and storage of the BFEX token.

BFEX TOKENS AND TOKEN SALE
The BFEX smart contract was written using the ERC223 standard which has backward compatibility with the ERC20 standard; the most common standard for projects on Ethereum. The BFEX token is issued on the Ethereum blockchain, allowing for fast, secure and cost-effective transactions. The BFEX token will be the native token of the BFEX platform and the major means of exchange. BFEX token can be categorized as utility tokens for the purpose of payment for goods and services and as equity tokens for investors who intend investing in the BFEX platform on a long-term basis. The BFEX token has a limited supply of only 210 000 000.
The BFEX token sale is underway with the price of each BFEX token between 0.3-0.5USD, depending on the stage of the token sale at which the tokens are bought. Early participants are rewarded with a bonus of up to 20% and only 105 000 000 tokens will be available for sale to the public.

MEDIA



To find out more about BFEX, the token sale, or to be a part of the community, use any of the following links:
WEBSITE: https://bfex.io/
WHITEPAPER: https://bfex.io/pdf/en/bfex_white_paper.pdf
TELEGRAM: https://t.me/BfexOfficial
TWITTER: https://twitter.com/officialbfex
FACEBOOK: https://www.facebook.com/BfexOfficial

BTT USERNAME: KARLKINO
Bitcointalk ACCOUNT URL: https://bitcointalk.org/index.php?action=profile;u=1981112