What is BANKEX Proof-of-Asset Protocol
This is a protocol that solves the problem of liquidity of non-interchangeable assets. Each token issued within the protocol is provided with a corresponding asset in the ratio 1: 1. The Proof-of-Asset protocol is inherently a combination of BaaS (Bank-as-a-Service) and blocking technology
BKX TOKENS ALLOW:
Get access to the BANKEX ecosystem Tokenization of real assets Create new chains of smart contracts for new types of tokensized assets Buy smart-Assets on the Exchange BankEx Get access to crypto-phiatic derivatives And much more…
Bankex CEO and a man behind this idea Igor Khmel has a really impressive career behind him which lead him to the creation of Bankex. After studying finances on Stanford and internship at Citadel Investment Group Igor Khmel Created Sberbank Innovation lab, today’s leader in banking innovation in Europe. In 2015 he started building a team of ex-bankers, top managers, entrepreneurs and experts from blockchain industry. for his new project. And this is how Bankex started. The main force behind Bankex is, in my opinion, one of the best teams and advisors in the crypto world I have ever seen. All great thing these guys did in their careers and all expertise they got is too much to put in this small blog, so please check it for yourself: https://bankex.com/en/team … and then give me your opinion.
The team was actively working on new innovations in banking sector based on blockchain technology for some time.Their FinTech lab developed several really big and important products in last 2 years and already singed few contracts with banks and financial institutions. Puting on the market 3 fintech products: KYC, deposit exchange, and crowdfunding marketplace made them known and popular in fintech sector as a winning team with 10+ prizes on several conferences. The first really important one was a solution for a p2p trading deal based on Telegram messenger made on Etherum blockchain. At the beginning of this year, even Microsoft recognized the future potential of Bankex and sing blockchain technological development partnership giving Bankex sponsorship of 120 000$ and giving them a reliable platform for cloud hosting. All this success was proven with listing Bankex in the Top 50 of the Pathfinder ranking in the financial IT 2016/2017.
BankEx is developing a platform, legal schemes and technical solutions for asset tokensisation, in order to earn together with its investors to increase liquidity in various sectors of the economy. Therefore, the BankEx token should be considered as an investment, rather than a speculative instrument.
The project implemented tokens based on Waves and Ethereum platforms. According to the results of the presale, 6 million PBKX tokens were sold, which at the rate of 1.08.2017 is about 1.5 million US dollars. 90% of the tokens were placed through private placement with an entry threshold for buyers of 10 bitcoins. In the future process of ICO BankEx, the current PBKX tokens held by the buyers will be automatically converted into public BKX tokens at a rate of 1: 1.
The main buyers of PBKX tokens were professional participants of financial markets and the crypto industry. Among the customers of BankEx are Asian and European crypto moguls (Japan and Holland), as well as a number of Russian crypto-funds.
A total of about 70 buyers took part in the pre-ICO, the geography of trades covers 12 countries: Canada, Japan, Australia, France, Austria, Switzerland, Netherlands, Norway, Croatia, Romania, Russia, Latvia.
According to Igor Khmele, the founder of BankEx, the release of tokens within ICO BankEx is scheduled for autumn 2017. During this time, 100–150 million BankEx tokens will be sold for a sum of $ 20 to $ 50 million, mainly to institutional buyers. Arrangements have already been made for the participation in the future placement of the ICO with accredited investors from the United States (New York, Palo Alto), including the family offices of major New York financiers. In the US, the BankEx token will have the status of a security and will only be distributed to professional participants.
BankEx is developing a liquidity protocol for financial, real and crypto assets. The whole infrastructure is implemented on the technology of blocking. To operate the system, internal tokens will be issued, the so-called. smart assets, through which authorized participants can digitize and attract investments for their assets, using the opportunities of the global market.
BankEx was founded as an independent financial laboratory in January 2016 by Igor Khmel, a former head of the Sberbank Fintech Laboratory, a graduate of MIPT, NES and the Stanford Business School. Among the products of BankEx, the brokerage services of remote identification KYC FinDostavka (in partnership with Dostavista and 10 client banks) and the Exchange of bank deposits for small business (in partnership with the Moscow stock exchange)
BankEx proposes to take advantage of the technology of blocking to maximally involve real assets in financing schemes. BankEx is developing a platform, legal schemes and technical solutions for the tokenization of assets that were previously considered illiquid and could not be used as collateral and as a basis for financial instruments. Usually, the attraction of financing for such assets costs about $ 1 million. Using the BankEx liquidity protocol, it is much cheaper to attract financing.
Bankex is a fintech foundation, which develops technologies for digitizing assets with the help of smart contracts and blocking. The project has in its arsenal a lot of interesting products for banks and investment companies. To stimulate the development of their projects, the team decided to enter the ICO in August 2017.
The main direction of Bankex is the development of a site where tokenization of real assets and their subsequent purchase and sale will occur. There are many cases with which you can better understand the business model — here is one of them:
Lithium — white oil
Let’s start with the analysts. According to Goldman Sachs forecast, the demand for lithium will grow by 3 times by 2025 due to steady demand from manufacturers of electric vehicles and smartphones.
Lithium has already been dubbed white oil, as Tesla and other automakers use it to produce batteries. Ilon Mask said that Tesla Motors will have to buy up all of the lithium in the world to produce the claimed 500,000 cars a year. The need for lithium mining in the world has never been so acute.
How does digitization work?
There is a company Lithium / product_owner /, which is engaged in the digitization of reserves in the lithium deposits (product). The technological process is structured as follows: first scan the deposit from the satellite, determine where there is lithium and the first evaluation of the deposits, then on site investigate the presence of lithium using IoT tools.
There is a mine owner in Chile / originator_order /, who wants to attract investments for mining of lithium in his mine.
/ product_owner / comes to the mine and uses special equipment to determine the amount of lithium in it, the quality of lithium and how easy it is to get it.
Further, all the data obtained after the mine scan is included in the Smart-contract and according to the given formula for estimating the cost of lithium deposits / F1 / estimate the cost of lithium deposits in a particular mine. Then the procedure of asset check / Escrow / is performed and the product Token LithiumToken is formed and fixed in the block / ethereum /. After that, LithiumToken packs in the bid for the exchange / order_bid /. Further, the sensor is placed on the shaft, controlling the presence of lithium in it.
On the exchange is issued a bid, which is a financial instrument.
The buyer is sure that lithium is in such a condition / order_bid / with a fair estimate / smartcontract_1 /, since if a part of the lithium disappears, then smartcontract_1 will be canceled by availability. Next, the buyer — the car manufacturer from China makes a purchase and becomes the owner of the tokens for lithium, lying in the mine in Chile, and the owner of the mine in Chile / originator_order / receives the necessary investment.
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