BankEx has emerged as the leading cryptocurrency project to standardize the way in which business assets are tokenized. To accomplish this major feat, the project has developed the “Proof of Asset Protocol,” which converts valuable assets with consistent cash flow into tokens that can be purchased or sold in an exchange, thus helping businesses raise capital and attract new investors.
This plan of tokenizing the economy is both ambitious and potentially disruptive. In order to raise capital, businesses have to go through financial institutions that charge heavy fees to convert their assets into securities to attract investors, a process that can take months or even years. In contract, the Proof of Asset Protocol offers swift verification and auditing of business assets, along with their conversion into “smart assets” or tradeable tokens, for a fraction of the time and cost. The smart assets on the BankEx exchange can be purchased globally and in small increments, whereas in traditional finance a large minimum investment in required.
The BankEx team, composed of dozens of individuals, is filled with entrepreneurial, software development, engineering, quantitative, marketing, and legal experience. The CEO of BankEx, Igor Khmel, has an MBA from Stanford and has executive experience at McKinsey, Deloitte, Citadel, and Sberbank. Due to the talent and innovation within the team, Microsoft Azure has awarded a $120,000 grant to the project, and as of this writing the project has collected about $25 million from investors all over the world.
The BankEx token, BKX, is ERC20 compliant, allowing it to be traded at popular exchanges and stored in standard Ethereum wallets. BKX tokens will be critical within the BankEx ecosystem by allowing token holders to create smart assets. The token crowdsale began on November 28, 2017 and ends December 28, 2017. During the crowdsale, investors can buy 500 BKX for one Ether (ETH), though bitcoin (BTC) can also be used to buy BKX. The crowdsale is capped at 400,000,000 BKX offered to investors. The minimum purchase amount during the crowdsale is .1 ETH.
*I am receiving BankEx tokens for the growth of the community.
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