BABB-is a decentralized bank for microeconomics.
Friends, I fell in love with a young and ambitious project team BABB! I read the story of the leader of the BABB how he came to this idea, what problems and obstacles stood in his way. I can say that this project was created for ordinary people, like all of us. I am very pleased to inform all readers of my blog that the Baab team collected the hard cap of its pre-sale! Congratulations!
BABB is a decentralized bank for microeconomics, providing individuals and businesses with a bank account ,equipped with blockchain technology.
The new bank will be based in the Great Britain.Account management is carried out through the application for smartphones and provides access to a decentralized payment card and will allow users to use both fiat and crypto-currency.
BABB will give everyone the chance to become their own bank. Anyone in the world will be able to open a UK bank account. Anyone in the world will have access to banking, regardless of their income, background or nationality. All they need is a smartphone.
So, BABB plans to release 50,000,000,000 BAX tokens.
What is the BAX Token?
BAX is the native token for use on the BABB platform. It will be at the core of BABB’s operations, both as a medium of exchange, a store of value, and a unit of account.
It will enable local digital currencies issued by central banks to access international remittances and payment gateways for their local citizens
It is a settlement protocol token for transactions over blockchain.
BABB has an excellent plan that includes 2 phases with an interval of at least 1 year. In this interval, the team plans to release the finished product to the market-application.
First phase
20 000 000 000 BAX will be released at the first stage — 0,12 cents (0,0012 US dollars) for a token. Pre-sale opens on January 15 with a 25% discount. The main sale is in mid-February, with a discount, including 15% on the first day.
Second phase
As soon as a workable product is released and a banking license is obtained, the BABBteam plans to release another 10 billion BAX tokens to meet the increasing demand, either as the next round of token sales, or via mobile application. This will happen no earlier than in the third quarter of 2019.
The money that will be collected in the second issue will be used to finance expansion into new markets and the development of full functionality of applications.
The finished products from the BABB team are :
-a high-quality application for smartphones to make the banking system simple for its customers.With the BABBapp, you can open a UK bank account from anywhere in the world by taking a selfie and saying a passphrase.You can send money to any other BABB user anywhere in the world instantly and for almost no charge.Also you will have the opportunity to exchange currency without any middlemen.It’s cheaper, faster and easier than doing it any other way.
-Payment card: The new card will be attached to the application without any data stored on the card itself. This will allow users to buy goods from any seller who has an account on the platform.
The new card will work without the need for VISA or Mastercard.
The Black Card it is a secure payment card that links directly with your BABB bank account via a secure QR code or NFC tag.
Why would I want a bank account based on blockchain technology?
No one wants to be a victim of fraud, does not want his personal data to be stolen.
BABB uses blockchain technology to protect your data.
Data protection will be implemented through various means of storage and encryption. They will be optimized for security by default and presented in a clear and intuitive user interface.
The blockchain allows you to carry out a transaction without an intermediary. Your account will be connected to the account of any other BABB user in the world, and any financial services that you need can be crowdsourced through peer-to-peer transactions.
You can trust other users on the platform BABB,because all BABB users will have digital identification provided by several technologies, including biometric data and geolocation. This means that you always know who you are communicating with.
Also, the use of AI for “dynamic KYC” will be introduced, creating a profile for each user to make it easier to detect scammers.
BABB’s platform promotes trust,therefore introduces an innovative ‘Social KYC’ process into platform.
“Social KYC” allows anyone who is completely KYC-ed, with proven documentation, to vouch for other users and place them on the platform.
BABB has formed 3 levels, differing in limits and functional. The level of the user will be determined depending on the level of identification he has passed.
Level 1: the full functionality of the application, a modest balance and transaction limits.
Level 2: full application functionality, generous balance and transaction limits.
Level 3: full functionality, generous limitations and the ability to vouch for others.
As you can see, the BABB team is a team of successful businessmen, scientists, crypto-investors, researchers and engineers, with a promising idea that is already being implemented!
Do not miss the opportunity to make a successful investment in the new year!
Website: https://getbabb.com/
Blog: https://medium.com/@BABB
Ann Tread: https://bitcointalk.org/index.php?topic=2349340.0
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