Bankex - Revolutionary Platform for the tokenization of Assets
ICOs of blockchain powered projects tried to transform a lot many things. Some projects tried to create a bank. Some have conceptualized creating their own digital currency. Employing tokens, Bankex is creating its own kind of assets and contracts. Employing a few current technologies, the company is attempting to take over the world by storm. From reality to common utilities, Bankex services will be sought for in lot of fields. It uses Internet of Things (IoT) to track every device that will be a part of Bankex contract system. The sharing of assets and cash happens on principles of Bank as a Service (BaaS). Combining IoT and BaaS, the company builds an Internet of Assets system. It develops a Proof of Asset (PoA) protocol to execute its contracts. The PoA protocol involves and regulates assets, capital and technology. It will hold as the master key to changing things around with Blockchain technology.
Proof of Asset:
Proof of Asset protocol ensures asset liquidity is high at all times. It is by far the best instrument in case of issues with asset liquidity. The tokens issued as a part of the PoA forms the protocol that is backed by real world assets.
How is Bankex different from other PoA platforms?
There are services in the finance industry that utilizes PoA protocol. Bankex goes a step forward and tokenizes multitude of assets characterized by modular structure. It levels up the field for smaller and larger players.
How Bankex works in a nutshell:
Bankex identifies assets and categorizes it. It analyzes the asset for cash flow and investor protection. It tokenizes the secure asset and that is how the BKX tokens are backed by real world assets.
Use case (Real Estate):
In case of secondary markets for buildings, Bankex can tokenize the assets. It categorizes the asset as commercial and residential real estate. The tokens will be backed by square meters of the property. Token price will stay stable, barring few increments while a building is being built. The exchange of tokenized assets has to be organized by asset owners in the Bankex platform. Tokenization of the asset is a three step process. In step 1, Bankex identifies tangible cash flow in mentioned asset. As step 2, the company adds investor’s protection via tracking the asset using IoT and other AI technologies. Finally, step 3 involves using the trackable and secure asset to issue tokens.
ICO Details:
The minimum purchase you can make in token sale is 1 token. Each token will be priced in ratio of 500 tokens per Ether. You cannot purchase these tokens via fiat currency. These ERC20 tokens can be resold in crypto token and contract exchanges. You can transfer them to any ETH wallet that supports ERC20 standard. These are utility tokens, which can be used for transactions in the platform. Tokens not distributed during ICO will be destroyed. The Bankex tokens will be traded as BKX. When smart asset deals happen, you can mine BKX tokens like Bitcoin. Holding the tokens doesn’t give you rights over the company.
Conclusive comments and Official Links:
As we all know, blockchain technology is the future and everything will be benefitting from this technology, soon major businesses and transactions including records and data will be transferred to blockchain and smart contracts for transparency, accuracy, efficiency and prevention of fraud. Bankex is coming to provide a breakthrough proof of asset technology using smart contracts, where it will be possible to tokenize any asset and make it liquid as well as tradable all across the globe. No doubt Bankex is going to be a game changing project, I am sure it will go a long way in changing the current trends and business models.
Find the official links related to the Bankex project below:
Website: http://bankex.com/
Whitepaper: http://bit.ly/bankex-the-smart-whitepaper
Twitter: https://twitter.com/BankExProtocol
Facebook: https://www.facebook.com/BankExchange/
Reddit: https://www.reddit.com/r/bankex/
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