BankEx has emerged as a new cryptocurrency project developing the “Proof of Asset Protocol,” which allows for the tokenization of financial assets for businesses. The Proof of Asset Protocol allows BankEx to turn real assets into tokens, with a validation mechanism for the assets, and issues the tokens for trading in the market. By using the blockchain and tokenization, new avenues of attracting and building capital will be available for businesses, allowing them to reach their full potential.
With the emergence and proliferation of blockchain technology, businesses are looking to raise capital in less costly and more efficient ways by tokenization, such as by issuing their own initial coin offering (ICO). Businesses know that the tokenization of their assets will allow for a cheaper means to obtain funding, and BankEx will standardize the way assets are validated and tokenized, allowing businesses to obtain needed funds. The tokenization of assets essentially means these assets are recorded on the blockchain, which will allow them to be viewable globally. As a service employing the blockchain and “smart contracts,” BankEx will cut out middlemen that increase the cost of raising capital through traditional means. The BankEx token, BKX, will allow businesses to convert their assets into tokens or “smart assets” and will reward product mining within the BankEx ecosystem.
BankEx’s CEO, Igor Khmel, is an entrepreneur with an MBA from Stanford University. He has worked as an executive for McKinsey, Deloitte, and Citadel. He also ran a fintech laboratory for Sberbank, the largest bank in Eastern Europe and third largest in Europe. The BankEx team is also filled with dozens of professionals with expertise in software development, business and finance, marketing, and law.
Due to the project’s innovative ideas, Microsoft Azure has given BankEx a $120,000 grant. Additionally, showing that the project is able to win the confidence of investors, more than $10 million has been committed to the project before the ICO has even started. BankEx will use these funds to develop its project with the aim of revolutionizing the financial markets and improving the flow of capital.
The BankEx ICO will take place from November 28, 2017 to December 28, 2017. For the ICO, BKX tokens will be offered at a rate of 500 BKX for 1 ETH (Ethereum token). The BankEx token, BKX, is ERC20 compatible and runs on top of the Ethereum blockchain. Token holders will thus be able to store their tokens in standard Ethereum wallets.
*I am receiving BankEx tokens for the growth of the community.
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