BABB Project and ICO Summary

uandr (25)in #cryptocurrency • 7 years ago

The World Bank for the Micro-Economy

General

BABB is an acronym for Bank Account Based on Blockchain. It use blockchain technology to offer a bank account to anyone in the world, with built-in access to crowdsourced financial services. It is possible to significantly cut the cost of banking and financial services to offer game-changing service and bring two billion people into the global economy

Product

Usefull smartphone app
A mobile app with global connectivity. Send money across the world, exchange currencies, lend and borrow money and fundraise for projects.
Real UK-based bank account
BABB will offer a bank account on the BABB platform, compliant with UK regulations, available to any eligible person or business in the world, instantly, without the need for a UK address or credit history.
Peer-to-peer financial services
A BABB bank account will be a portal to a connected world of crowdsourced financial services. BABB account holders are nodes in a peer-to-peer network managed by smart contracts, connecting people with money to people with ideas.
Secure payment card
The BABB Black Card is a secure payment card that links directly with your BABB bank account via a QR code or NFC. It allows both a debit-like functionality, or it can be issued as a pre-paid card for your friends and family. This approach allowed us to design a simple yet elegant card with no need for a chip and pin

Use Cases

Peer-to-Peer Cash
BABB enables users to withdraw and deposit cash from their account by engaging with other users or agents. Also, the app makes it easy to exchange and withdraw a currency that is different from the one currently held in a BABB account.
Peer-to-Peer Borrowing
Through the BABB app, users can lend to and borrow from one another. Payment terms and rates are clearly defined, agreed on, and fast to conclude.
Peer-to-Peer Fundraising
BABB will provide tools for international and local fundraising, where anyone can raise funds using 3 types of mechanisms: Private is only by invitation; Personal is broadcasted to friends and family; and Public is for anyone to start a global fundraising campaign, particularly for purposes like disaster relief and community infrastructure
projects, but also for personal projects and causes.
Payments & Payroll
BABB banking platform can be used to create a more direct payment flow that connects payers and payees — across borders or domestically — without intermediaries, at ultra-low fees and almost instant speed.

Token sale

BABB will raise funds through a BAX token sale. The funds raised will be used to develop the app and the platform, apply for a banking licence, and operate the infrastructure.

BABB will issue 50 billion tokens, 30 billion of which (60%) will be available for public sale, over two phases: the first with 40% in 2018, the second 20% in 2019 once the platform is live and the token in use. Any unsold tokens in each of these phases will be burned.

Token Name	BAX
Token type	Etherium ERC20
Token Price	1 BAX = 0.0012 USD
Fundraising Goal	20,000,000 USD
Sold on pre-sale	10,000,000
USD Total Tokens	50,000,000,000
Available for Token Sale	60%
Accepts	ETH, USD