Blockchain is the solution for today’s financial problem. This statement has been circulated for long time. However, there is no real implementation of using Blockchain to solve the financial problem. BABB tries to do the active role here by providing the solution for banking problem.
It’s not well-known, actually, that around 2 billion of people in this world don’t have access to banking system. Those unbanked group also doesn’t have access to many financial service and benefits that you usually can get from having account in the bank. Why?
The Main Problem
The main problem is the bank itself. Providing service for this unbanked group is only adding more budgets they need to spend. The unbanked group itself consists of individual with low income or small business. Therefore, they can give enough profit for traditional bank to cover the expense they need to spend for providing the service for them. The traditional bank can’t provide the solution, although it said it that the unbanked group can give $380 billion market opportunity.
The BABB Solution
Bank Account Based on Blockchain provide solution for inability of traditional bank to provide the service for the unbanked group. The Blockchain system that this project use will eliminate all obstacle that traditional bank have to face.
The first one is the transaction speed. With Blockchain, transaction can be finished in second. If you want to transfer to other country, you also can do it much faster. Other than that, the Blockchain system is much cheaper than traditional system. Therefore, it will be much easier to provide the service for everyone.
With Blockchain, BABB also provide unique way to create account, which is using Biometrics. With this feature, you don’t need too much time to finish the registration. More than that, the Biometrics system also provides you better security than traditional system. With this system, the bank will use voice print, face recognition and such, which can’t be copied by other people.
And, the best of all is maybe the Blockchain system itself. With this system, there are many possibilities that can occur. This will stimulate the growth and evolution of BABB system itself into much better and perfect system.
Like other Blockchain-based project, BABB also use token. The token that BABB used are called BAX Token. BABB will release 50 billion tokens, which will be released in two stages. The first stage is in 2018, where they are releasing 30 billion tokens. So, you still have chance to buy and invest in this system.Then, next year or in 2019, the rest of the token will be released along with the activation of BABB system, officially. The unsold tokens will be burned.
With so many advantages that BABB can offer to you, this system can become the best solution for banking problem. And, if their system is successfully implemented, there are many good effects that it can bring to our world. Faster business development, increase the economy station of people in the world and better and safer bank system, are some of that you will get from it.
Author : Namirah
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