BABB – BANK ACCOUNT BASED BLOCKCHAIN

Website: https://getbabb.com

BABB – BANK ACCOUNT BASED BLOCKCHAIN
The technology is growing every moment. There are still shortcomings popping up in every industry with a new invention. There are numerous perennial problems that need to be addressed in the banking industry. They include the systematic risk, data privacy and the financial exclusion.
The newly arrived Blockchain technology aims at addressing the data privacy issues with the aid of the decentralized platform which stores the data in the distributed registers. There is no central authority for the blockchain technology. Every user that is the part of the network is in charge of maintaining the distributed network. Any user who violates the rules and norms will be eliminated from the distributed network.

Micro Economy
BABB is the decentralized bank providing micro economic facilities through the blockchain technology. The account is managed via the smartphone app and the access can be processed through the decentralized payment card.
BABB also partners with the other central banks thereby enabling the issuance of other digital currencies throughout the world. This stimulates local micro economies to reach for BABB solution and circulate the BAX token.

The aim of BABB is to eliminate the outdated infrastructure which no longer serves for the Small and Medium enterprises. BABB combines the social connectivity with the accessible banking thereby fostering the international collaboration and the inter community engagement globally.

Functionality and Security
BABB serves not only as a channel for secured transactions but also for the exchange of encrypted data across different users in the network.

The validation of a blockchain activity by using the standard blockchain schemes with a federated blockchain of validating nodes. BABB also has the facility to store the fiat currency in the form of BAX tokens. Any fiat fund available in the blockchain are represented in the form of tokens. As soon as the funds are tokenized, the users can process the transactions without their intermediaries.

RISKS AND SECURITY
A set of security plans are guided in the modern established security standard. The guidelines like the OWASP, PSD2, PCI/DSS and other relevant security guidelines are followed.
By allowing the risk management strategies, we will be able to clearly target the threats in advance and respond swiftly when a new risk is identified. The up to date Machine learning models are used to leverage the information contained and greatly improve the accuracy of the credit scores.

Marketing and Business Opportunities
BABB is currently licensed for the UK operations and the financial institutions. BABB platform will retain the copyrights to issue the licenses to the third parties who wish to access the BABB technology. BABB will create one billion tokens and distribute the tokens into various categories: 60% for the public, 20% for the team, 18% for the foundation and 2% for the bounty.

Roadmap
BABB’s unique vision is to provide the future of banking with radical and the feasible transactions in a secured way. It has a huge potential for the growth with the app, card and the social KYC. By purchasing the BAX token, the user can take part in the future step of unleashing the potential of the global microeconomy.

For more details visit

Website: https://getbabb.com
Whitepaper: https://getbabb.com/babb-whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=2349340.0
Written by: Pooja Jur
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1217469