The Blockchain technology is a force to reckon with in this generation as it is restructuring the present and laying a foundation for a foreseeable future. The future is beginning to take shape and it is obvious that the Blockchain technology is disrupting industries as we know them to be and sooner or later most industry would succumb to change. But, BlockBank has gone ahead into the future and is providing low-cost commercial products based on the blockchain technology. BlockBank is leading the way into what future banks will look like by being one of the first worldwide banks based on Blockchain with the aim of providing secure and transparent services for decentralized commercial funding.
Low-cost Loans for Businesses
Unlike the traditional banks, BlockBank is designed to satisfy the fund needs of unreachable markets. This is why it is focused on providing low-cost funding and making credits available for those who do not have access to banks. It also aims to avail individuals with the opportunity to monetize their networks as well as provide them with monetary capital that they require in the form of loans. When you refer people to BlockBank, you get a commission, all you have to do is give your referral codes to users who need to take a loan and you get a 30% commission on the fees. This way Blockbank is helping business owners with loan needs get their loans while still affording the referer with a commission.
Breaking Traditional Boundaries
BlockBank is working towards breaking the boundaries of traditional banking by creating a decentralised economy born out an expansion of payment possibilities, improved speed and security and of course minimum taxes. The Banks core will be based on smart contracts which will provide transparency, and deliver products to customers. This smart contracts will be powered by the Digital Direct Application Management System (DDAMS) blockchain. It will fill all the loopholes of the traditional banks with straightforward and direct services, low-cost loans (cryptocurrencies and fiat), security and maximum development of poor nations.
Legal Mechanism for credit obligations
The project had already concluded its predeal which started from 6, November to 15, December 2017. BlockBank’s ticker is BBRT and it had 10,000,000 tokens available, with a unit of its token equivalent to 0.2$. While the recently concluded pre-ICO lasted from 8, February to 15 March 2018 with a unit of BBRT for 0.6$. The upcoming ICO will last from 10, June to 10, October 2018 with a unit of BBRT for 0.7$. BlockBank has a solid business model which you can view from their white paper as well as a legal framework to enforce credit obligations and if a client does not fulfil their obligations in the credit contract, legal proceedings will be started in accordance with the credit agreement.
Client Based Services
The Block Blank platform is offering its clients financial planning services, commercial lending services and token ownership grants. Blockbank is offering low-cost funding and this is one aspect businesses today need to expand. Its platform includes multiple features designed to create an ecosystem based on the client needs. BlockBank aims to partner with the biggest banks in the world, minimize transaction cost and provide low-cost loan facility to anyone in the world as well as referral commission for clients.
More details about this revolutionary Bank’s ICO can be found on their website.
Source: ChainAfrica (www.chainafrica.org)