What is BANKEX?
BANKEX is Bank-as-a-Service on blockchain, building the Proof-of-asset-Protocol. BANKEX stand for Bank exchange, to describe a platform where banks can exchange their products.
Who is your target audience?
We have a development strategy that acknowledges the changing structure of the financial market. Our target audience are banks. We are certain that they will switch to our technologies, as traditional financial technologies are inefficient and are inferior to new blockchain technologies when addressing a large range of asset classes. However, our utility is already obvious to asset owners; we already have requests to tokenize various classes of assets.
What is the Proof-of-Asset Protocol?
The main product of BANKEX is the Proof-of-Asset protocol, which aims to solve the issue of asset liquidity. Proof-of-Asset means that the token issued as part of the protocol is backed by an actual asset.
What is tokenization and how is it different from securitization and tokenization
Tokenization is a process of token emission. Tokenization is similar to securitization however it is operated on the blockchain.
What is the difference between BANKEX and other companies Proof-of-Asset protocol?
The main difference between the BANKEX Proof-of-Asset protocol and other analogs is the ability to tokenize different types of assets as it has modular structure.
What assets can be tokenized?
Target assets for tokenizations are a class of assets with a summary capitalization exceeding 100 million USD, that generate or are able to generate cash flow.
What problems does asset tokenization solve?
Solving the issue of liquidity, tokenization of assets gains the greatest value under the following conditions:
- Presence of a large number of asset owners or decentralized assets.
- Standardized end-product, which would allow to isolate meta-information when creating the smart-asset. This is to allow trading assets to other assets.
- The ability to use the token as a method of payment for end-product. This function not only allows investing into the construction of a building and receiving return of investment and speculative gains from the asset. This token would also be able to be used as a method of payment for rent of space within the building.
- The ability for the token to be used to own an asset by a large number of investors. This condition would allow the owner of a smart-asset to attract a lot of funds via placement on the BANKEX stock market. A classic example would be shared ownership of real estate, where every person only owns a part of the real estate.
- The ability to quickly and unambiguously measure characteristics that affect the quality or quantity of end-procuts. This ability to perform regular audit of the asset significantly increases the quality of asset monitoring. It is a powerful competitive advantage compared to the Big Four and rating agencies. Annual evaluation by auditors is replaced with what is essentially a real-time audit.
- The ability to withdraw the asset from ownership if the terms of the contract are not fulfilled. This means that outside of audit of the contract, we have the option, aside from tokenization with the escrow module, to withdraw the asset along with a certain value as a form of collateral if the terms are not being fulfilled.
- Control of end-product sales.
- Assets, the transfer of which requires large legal and accounting expenditures. Such assets would include second-tier equities or private equities a year or two prior to IPO. Enterprising shareholders create an interest in transactions involving this type of assets.
How does your protocol work?
The Protocol operates in 4 main stages: digitization, tokenization, asset trading and dealing. A more detailed description can be found in our white paper
What is the minimum investment sum in Ether?
The minimal possible purchase is 1 token. During ICO the exchange rate will be around 500 tokens per Ether, meaning the minimal price would be 1/500 Ether.
Would we be able to buy tokens, using Euro or Dollars?
Are BANKEX tokens ERC-20 resellable? Would I be able to transfer them to an ETH wallet?
Yes, BANKEX tokens are ERC-20 resellable. And yes, you can transfer them to wallets supporting the ERC-20 standard
How will the BKX tokens be used in the future? What does the owner get from them?
They are used for token transactions on the BANKEX platform.
What will happen to the tokens not distributed during ICO?
They will be destroyed
When can I trade using BKX tokens?
Listing will be conducted after ICO
Can I mine BKX tokens?
Yes. You can mine BKX tokens when deals between smart assets will proceed.