Bankex Token Closes the Gap in the Fintech Industry

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Decentralized Bank-as-a-Service exchange, Bankex is building a new blockchain technology that enables the creation of Smart Assets. This unfolds the beginning of the development of a new generation of decentralized capital markets.

The gap between mainstream establishments and blockchain-based companies is increasing very quickly as blockchain technology is offering the benefit of tokenization and effecting crowdfunding via ICOs. Tokenization is the process of converting rights to an asset into a digital token on a blockchain. It gives the advantage of the development to companies who are able to implement the technology and tokenize their assets and make them available to the public.

Prior to this time, blockchain implementation and tokenization has been no easy task and also a reserve for a selected few with special development skills or staffing. But with the current offering from Bankex, anyone and every establishment can now easily acquire effective tokenization of their assets, making them liquid and transactive in the decentralized marketplace.

A novel innovation with huge support

Bankex has devised the Internet of Assets (IoA), which is the online platform that allows tokenizing real assets. It works on the principles of Bank-as-a-Service (BaaS) by implementing Internet of Things (IoT) and Artificial Intelligence (AI) technologies so as to monitor conditions of the assets and keep track of the asset evaluation process.

These technologies are also capable of creating various types of Smart Assets, which can be bought and sold worldwide. Hence, the company is developing a new tokenization technology that uses the blockchain technology to offer advanced Proof-of-Asset protocol for the financial markets.

By using Smart Contracts, Bankex may digitize various types of assets like portfolios including real estate, ensures that the asset is validated, turns it into a token, and places it on the market for trading. Liquidity in form of cryptocurrencies or even fiat money is is only a click away from asset owners. It provides investors the access to capital and guarantee clear cashflow. Bankex is supported by 10 banks and has its own research lab to develop new blockchain applications.

Unity and mobilization

The Bankex project is a symbol of unity which brings together members of the financial markets in order to build a community and implement the Proof-of-Asset Protocol that enables community members to profit from mutual use of assets. This Protocol, will also enable a new generation of assets and contracts creating decentralized capital markets.

“We hope to have a transformative effect upon traditional finance and investment, micro-financing, real estate, as well as illiquid assets, natural resources, and derivatives markets. This is a large undertaking and will require substantial investment. The market gap is large, the potential is huge, and the aim is clear. We want to bring emerging Blockchain solutions to the established banking sector”, says Igor Khmel, Founder and CEO of BANKEX.

The BKX utility token

BKX is a utility token that is used in the Proof-of-Asset Protocol ecosystem for payment purposes in order to create Smart Assets of different classes. Smart Assets are created as a result of real assets tokenization.  It also supports Smart Asset turnover in the system, and also as a remuneration to the Asset Community for  product mining.