What is UnbankedX?
Basially, the world's first crypto robobank. There are no token offerings for international micro-financing based on our research analyst of ICObench.com. As of 1st Jan 2018, out of 126 banks, we could only find cryptocurrencies too generic or industry specific like migrant workers’ remittances. We participated in the Human Global Challenge which was set up to unearth projects that were generating useful services, or to provide the ability to generate income remotely for people living in unbanked regions in the world using just a simple smartphone.
Why Choose UnbankedX?
- Traditional financial structures are too costly for small accounts. With a fully automated system, we are able to overcome cost barriers and scale to the millions of users who have been neglected.
- Eliminating need for intense and costly credit assessment.
- Reducing cost of managing ledgers. Preventing corruption with immutability
Platform
UnbankedX(UBX) use multi-blockchain model integrated with robust client/server cloud API infrastructure with redundancy. Application nodes are distributed to key countries close to the internet edge of target emerging markets. Their application strategy divides all blockchain platforms into two classes for integration. Each blockchain will be linked to our API servers that can process a high capacity of API requests via HTTPS. We envision users the interacting with multiple phone types – feature and smartphones, desktop hence the first layer will be user web interface. All data the interactions will connect to a web server layer which will relay the information to our data exchanges with the blockchain and internal databases and systems
Problem
- Lack of access to banking services and financing
Conventional banking limitations exclude this segment of the market as they are considered not credit worthy and operationally difficult to administer due to remoteness and small clusters that do not justify investment spend in setting up bank offices and employing staff to monitor and manage loans. Whilst we do not seek to replace existing available informal micro-finance arrangements, money lenders and formal enterprises that currently exists in some countries, we do believe that with current progress of technology, we can be an alternative option. - Corruption
Corruption is found in all countries but evidence shows it harms poor people the most as it stifles economic growth and diverts desperately needed funds from education, healthcare and other public services. In addition, it also reduces foreign investments and this has impact on employment opportunities and economic development. This also deters commercial banks from providing finance to projects and whilst this would be in the remit of multilateral development banks (MDB), these institutions are also cumbersome and unable to finance at micro levels of the economy. From our study, many of the underbanked and unbanked recognise this problem and seek to create opportunities for themselves through some form of self employment or increasing existing capabilities to improve from mere subsistence. - High Cost of Distribution
One of the limitations of conventional banking is the distribution of proceeds to remote regions which is a costly process. With the availability of mobile transfers, we believe that loans can now be made in faster and more cost effectively. - Limitations of Mobile Money
Mobile money has been an a revolution in the emerging markets by enabling many to have access to financial services such as payments and remittances which were previously difficult to access. It has also helped to increase efficiencies in the speed of payment, access to remote areas and payment security. However, there are still challenges including limited growth in other financial services provided users. Deficient mobile agent networks, a lack of interoperability Very few mobile money services have reached profitability.
UnbankedX(UBX)-The Tokensale
Pre Tokensale participants will be allocated 10% of all tokens issued. Primary Tokensale participants will be allocated 55% of all tokens issued. A part of these tokens will be used as bounties and digital media for marketing purposes. Advisers will receive 5% of all tokens for their insights and contacts to help succeed. The price of tokens will bid from USD 0.06 per token. This will be floated on decentralized exchanges for purchase. If all tokens will be sold, the remainder will be distributed during a SCO (secondary coin offering) in the future. HARDCAP for all tokens is 200,000,000.
Token Allocation
CrowdSale - 65%
Management - 10%
Advisers - 5%
Operations - 10%
Marketing - 10%
Road Map
- Jan 2017
Founded Jan 2017
Developed idea of using crypto and blockchain to finance trade between countries - Sep 2017
Expedition to Kenya. 1000 pilot users signed up
Bootstrap seed investment and prototyping begins - Jan 2018
Mozambique cotton cooperative expresses interest in their 100,000 farmers. We are using our platform to run credit risk analysis and onboarding those that pass our autonomous logic
We added more countries and partnerships. Speaking to major mobile money telecos in the region to integrate with their 100 million subscribers. - 2018
Complete Presale and Token Sale. Release mobile app
List on key exchanges. Grow users towards 500,000 - 2019/20
Release own protocol
Grow users to 1,000,000
Meet the Team
Grace Wong
Eugene Lim
Jari Pronod
Akel Luis
More Info
Website:http://buyandsell.io/
Whitepaper:http://buyandsell.io/documents/BUYANDSELL-ENG.pdf
Facebook: https://www.facebook.com/UnbankedX-172044893559527
Twitter: https://twitter.com/unbankedx_ico
Telegram:https://t.me/storiqa_rus
Author: Hurricanecol
My Profile link: https://bitcointalk.org/index.php?action=profile;u=1576406