BankEX – BKX ICO Proof-of-Asset Financial IoT & AI Protocol System?
What Is BANKEX?
As the cryptocurrency space has grown, more and more fintech companies have gained an interest in tokenization. Bankex is a cryptocurrency financial platform that wants to specialize in token sales and financial assets. Their bank exchange platform will allow buyers, as well as banks and other financial institutions, to exchange their products.
Proof Of Asset Protocol
Their main product, the Proof of Asset Protocol intends to enable investors to solve their issues with asset liquidity. The protocol combines BaaS (Banking-as-a-Service) and blockchain technologies, which are then categorized into four primary stages of operation; digitization, tokenization, asset trading and dealing. One of the most unique features of the Bankex Proof of Asset Protocol is that it is able to tokenize assets. Asset tokenization has many benefits. For example, tokenization of a construction project could allow for a large number of investors to contribute individually to the project and then receive investment returns. Additionally, the platform will be able to tokenize fiat currencies, giving users access to crypto/fiat derivatives.
During their ICO, Bankex will allow investors to purchase as few as just one BankEx token. The team has also included bonuses. These bonuses begin when investors purchase five hundred tokens, which at the ICO exchange rate will be equal to one Ether. The tokens can be bought using Ether and not the Euro or Dollar currencies.
The BankEx project is being run by the newly established Bankex foundation. At present, the foundation is comprised of professionals with experience collaborating to contribute meaningfully to the success of the business. The foundation team includes Bankex advisors, the core team members, and the technology team members.
The stated purpose of the BankEx Foundation is to create the tools for individuals to help themselves become financially independent.
BankEx’s pre-sale was launched at the Money 20/20 conference in Copenhagen. Unlike most recent ICO’s, which are based on the Ethereum Network’s ERC20 Standard, BankEx tokens are issued on the Waves blockchain platform. During the pre-sale period, a total of 3 million tokens were made available for early buyers. Half a million tokens were be sold at $0.20 USD, with prices rising by $.05 each half million up to $2million.
Only accredited private buyers were allowed to participate in the presale, with a minimum purchase threshold of $10,000. Another tranche of BankEx tokens were slated to be available for retail purchase by Russian buyers on the DEX exchange, hosted on the Waves platform. In fact, BankEx has already taken on an investment of 100 BTC from cryptocurrency venture fund, ICOPromo.
BANKEX Public Sale
The main BankEx Foundation public sale began on August 21st and will continue until the 21st of November. At this point, 30 million tokens are planned to be sold, adding up to a minimum investment of $10 million. The team also plans to have another offering in the future (not earlier than 2019), in which an additional 100 million BankEx tokens will be offered up to the public for sale.
BANKEX Solving The Liquidity Issue
It’s well established that the problem of liquidity is one primary factor slowing down economic progress. For example, although a business might have enough assets, they may be unable to access the public securities markets, leaving their assets in a highly illiquid situation. Up to now, this problem has been solved by securitization, but this has been restricted to large financial institutions.
BankEx’ Proof-of-Asset protocol, legal frameworks, and technological solutions provide for solutions to this issue, giving consumers options, and making real progress towards granting liquidity options to the market.