What is BANKEX?
BANKEX is Bank-as-a-Service on blockchain, building the Proof-of-asset-Protocol. Financial markets are changing very quickly. We are developing tools and technologies that helps to adopt these changes by traditional institutions. Due to distrust current asset owners sometimes may not acquire additional liqudity. BANKEX injects additional transparency to the assets by proprietary Proof-of-asset-Protocol that allows asset owners to sell them as a digital products.
Who is your target audience?
Being mainly an infrastructure company we are developing our technologies for service providers.
What is the Proof-of-Asset Protocol?
The main product of BANKEX is the Proof-of-Asset protocol. It is an additional layer between blockchain infrastructure and real assets which aims to put additional transparency. Using this technology asset owners solve the issue of asset liquidity. In result, implementing Proof-of-Asset means that the token issued as part of the protocol is backed by an actual asset that is constantly tracked in automated way.
What is tokenization and how is it different from traditional securitization?
Tokenization is a process of token emission. Such a token is a smart contract that based on real asset. Tokenization is similar to securitization however it is operated on the blockchain.
What is the difference between BANKEX and other companies providing tokenezation?
The main difference between the BANKEX Proof-of-Asset protocol and other analogs is the ability to tokenize various types of assets as it has modular structure. Proof-of-Asset protocol is the set of principles and base technologies that allow quickly developingnew asset class token for almost every type of assets.
What assets can be tokenized?
We are developing principles and set of tools that we believe works for tokenization every asset in the world. Target assets for tokenizations are a class of assets with a summary capitalization exceeding 10 trillion USD, that generate or are able to generate cash flow.
What problems does asset tokenization solve?
Tokenuzation solve the issue of liquidity by adding transparency of asset condition and it's use. The 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 without any additional services like auditing, due dilligence or extencive legal procedures.
- The ability to use a token as a method of payment for end-product. This function of token not only allows market participants to investing into, say, construction of a building or receiving return of investment and speculative gains from the asset. Such type of tokens may be used to receive payments for rent of space within the building.
- The ability for the token to be used to own a single 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 automated audit of the asset significantly increases the quality of asset monitoring. It is a powerful competitive advantage compared to the Big Four and traditional 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. If you want know more, please, check out this video. More videos is in our channel on youtube.
What is the minimum investment sum in Ether?
We set the limit for 1 transaction 0.1 ETH. The reason stayed behind this value is the cost per transaction.
Would we be able to buy tokens, using Euro or Dollars?
No. It is possible to buy tokens using ETH, BTC, WAVES, TIME, Litecoin, SALT.
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. However, we recommend to use MetaMask and MyEtherWallet wallets.
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 ecosystem. Such use may be an issuing Smart Asset token — Initial Smart Assset Offering (ISAO), product mining, creating new Asset classes, trading and many other BANKEX services. Please, refer to our product map.
What will happen to the tokens not distributed during tokensale?
These tokens still available for buying, but will be reserved for institutional buyers.
When can I trade using BKX tokens?
Listing will be conducted after tokensale, we in process of registering on at least at three exchanges.
Can I mine BKX tokens?
Yes. There is a process that called "product mining" that allows to earn BKX tokens by providing services for asset owners. Some asset classes will require product mining as a routine procedure for verification of current asset state or resolving of various types conflicts.