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BABB, Decentralized Banking Platform That Leverages Blockchain


Etherium is one of the high technology products and a big project in platform format. Eteherium is a blockchain platform that has smart contract. It means that it can work on its own without the possibility of down, censored, fabrication and ruled by the third party. It is used as virtual machine that can make smart contract, peer-to-peer, and use cryptograph money such as Ether or ETH. The first designer of Etherium is Vitalik Buterin and Gavin Wood. Then it is developed by Gavin Wood, Jeffrey Wilcke, Vitalik Buterin and others. It is designed in 2013 and the project is developed in Etherium Fondation located in Swiss. The first block was started at 30 July 2015. Because it is kind of software, it has C++, Go, JavaScript, Python, Java, node.js, and Haskell as the programme languages. This platform can be used in some operation system such as Linux, Windows, OS X, and POSIX compliant. This platform is decentralized and computing type.

BABB is a decentralised banking platform that leverages blockchain, AI, and biometric technologies to offer anyone in the world access to a UK bank account for peer-to-peer financial services. More than 2 billion people live without access to financial services and it becomes a problem in the globalization era. Therefore, lowering barriers to access and put people in controlling of their money and data will be the best solution for the problem. BABB or Bank Account Based Blockchain is building a global network that empowers the micro-economy and creates wealth and opportunities for everyone that use the system. The platform of BABB is all the BABB users will be connected via a global network that allows them to leverage their social connectivity in new ways to trade, make payments and participate in fundraising.

You Are Your Own Bank
Empowering the biometrics, the blockchain and AI, BABB, the global, decentralized banking platform, is based on a revolutionary business management method which implies the removal of the bank as a physical institution from the principle of leading the economy. By enabling anyone in the world to create a UK account, the BABB platform encourages and empowers the global connectivity and erases the division lines between the people worldwide.

The invention of BABB is principally based on the BABB app, downloadable by any user of the smartphone and internet. The principle of account creation is simple: all you need to do is take a selfie image and record an audio password phrase which you will later use when logging into your personal account. The money transfer is also extremely easy, as you could send the money to any other BABB user anywhere in the world. The money exchange is also doable through the BABB app, which explains the BABB slogan that everyone is a bank.

The Black Card
The user can spend any fiduciary or encrypted currency online and in any country using Black Card, a revolutionary decentralized payment card linked directly to his BABB bank account. It is a secure payment card that is directly linked to your BABB bank account through a secure QR code or NFC tag. It allows functionality similar to that of a debit and can also be issued as a prepaid card for your friends and family. Retailers can accept payment with the BABB card by simply downloading the BABB application and scanning the QR code or using NFC. Payment is made instantly in the retailer’s bank account and the funds can be used immediately.


Social growth
The innovative “Social KYC” process allows anyone who is fully KYC certified, with validated documentation, to respond for other users and on board the platform. In this way BABB will expand its services to millions of people without the need for them to present identification documents. The KYC social mechanism will promote the exponential growth of its user base. This is particularly useful for incorporating the unbanked in emerging markets, since one of the main barriers they face is the lack of documentation. As the value of BABB is proportional to the number of users in the network, there is a strong incentive for early adopters to encourage their peers to participate. Social KYC is a key part of the strategy to create fully-banked communities and promote financial, economic and social integration.
BAX, the native token of BABB, will allow central banks to issue their own digital currencies to stimulate local microeconomics. Local digital currencies offer citizens access to international remittances and payment gateways. With CBDC, central banks can replicate the many useful and innovative aspects of cryptocurrencies such as Bitcoin and Ethereum, while eliminating many of the destabilizing elements. The value of the digital currencies of the central banks will not fluctuate, since they will be linked to their national fiduciary currency, and they will control and encourage their use as a means of exchange, ensuring economic stability. This collaboration between central banks and BABB will not only allow users to carry out local transactions in the central bank’s local system; it will also allow them to carry out international transactions in the global BABB platform.
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Komentar

  1. banking platform software
    Technology has irrevocably changed customer expectations and how their needs are met. Traditionally, services have solved specific functional needs; food for example, was a process of purchase and preparation at the very least, or going out to eat, involving distance, time, travel and expense.

    BalasHapus

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