Dec 19 2017
Traditional capital markets that are currently underway are considered lacking regarding liquidity. The level of cash has indeed become a problem that is often encountered in conventional asset markets. Realizing that, the founders of BANKEX have a mission to standardize the asset market with a newest technology and create a decentralized capital market. As a way out, then made Internet Assets (IoA) by using the principle of Bank as a Service (Baas).
Each technology used aims to realize a revolution of the conventional asset market to achieve an accurate liquidity. APIs in global banking can make BANKEX technology faster, scalable, and new products easily customizable. An economic transformation in the digital age is expected to create a transparent market.
The development of smart asset markets is needed for a better market era. By deploying highly experienced teams from banking and capital markets, BANKEX is partnering with blockchain developers to create a better and more profitable capital market. The presence of BANKEX can be the preferred partner that applies smart market contracts more accurately than the less liquid assets market.
Basic Concept of BANKEX Asset Market
In the development of the system, the developer team identifies the cash flows from real goods or services. A client’s assets create the use of a third party provider’s cash flow. To protect investors, BANKEX incorporates third-party asset, and cash flow audits in tracking based on the Internet of Thing (IoT) and Artificial Intelligence. The next step to protect investors is to minimize the risk of agents by holding assets in escrow. That can also be done with independent asset sourcing managers or secure assets. Assets are tracked and safely used as a token expense guarantee.
In the BANKEX ecosystem, the token has two meanings as the IOU contract security and as a payment tool utility with the ratio of one token equal to one service. Any payments made may provide an arbitration opportunity. Token used can be supported in the real world either for good or the value of a function.
BANKEX’s asset market also plans to trade BKX assets. Trade is made by OTC exchange, corporate and financial organization. This trade also allows the exchange of BKX assets. Each crypto coin is issued BKX protocol. The security used is traded on the stock exchange.
Integration of Internet of Thing (IoT) Technology in the BANKEX Platform
The IoT sensor has been integrated into unique technology development by BANKEX and external event into the Proof-of-Asset protocol which enables monitoring of asset cash flows from tokens. The prototype integration has also been demonstrated to apply this capability. BANKEX labs have teamed up with Xiaomi for a family device for the home. Every product and service from BANKEX has provided the asset owner with access to manage multi-level assets that offer real-time accuracy, convenience, and security.
The versatile technology behind the BANKEX PoA protocol has been integrated with various techniques that exist for the realization of services that transcend the real asset tokenization. The ability to integrate with IoT devices is a critical component of the technology. Each IoT device is intended to create asset management that can be merged with Fintech user experience that has never existed before. The Sandbox prototype for smart family homes has been developed by the BANKEX lab with Xiaomi devices to show that real estate assets can be monitored using a variety of different ways.
Through Xiaomi’s smart device as the next generation, IO system for exceptional homes offers the convenience and convenience of homeowners in managing the system remotely via mobile devices. BANKEX developed a technology that can access and integrate intelligent dwellings through a platform called DeviceHive. Homeowners can not only control doors, lights and home appliances but can also earn income when real estate is connected. The potential of IoT technology is wide open to provide users with a distinct experience.
Various security and convenience offered by BANKEX in IoT utilization. The technology can be used for the realization of real estate. The benefits provided are a new and unprecedented system of existing economic services.
- The use of IoT is the safety of the next generation in an apartment. By using IoT, homeowners have access to the security of an apartment remotely using real estate owned. Everyone who attends the home can be seen and monitored.
- With the integration of BANKEX makes the cost of managing real estate more affordable. Owners can avoid third-party security providers in handling real estate objects because they already have IoT tools such as Xiaomi smart devices.
- Allows to share revenue from home assets, home assets with tokens, and can be used in a shared economy.
The Sandbox prototype BANKEX Labs can track doors and windows to identify personal presence at home. IoT sensors will be sent to DeviceHive and then recorded on the blockchain. Through the smart contract, in BANKEX it will make the asset owner can receive an automatic payment. To improve the assets on IoT, it is necessary to have procedures integrated with the IoT device infrastructure.
Issuance of blockchain assets can be done using smart contract functions through MetaMask. After receiving the ID, the user needs a backend connection. To connect with the IoT device then the web page will display the QR code that can be scanned by the user through the BANKEX IoT application. Additionally, the QR code can also be examined optionally via the QR scanner application. The app has the deep-linking support that lets applications launch with additional parameters such as asset IDs.
Proof of Asset Protocol as BANKEX Platform Builder Technology
Decentralized banking is very likely to be a new source of real assets in BANKEX. Demo versions of BANKEX products have been released to attract the interest of its users in using proof-of-asset protocols. With this new source enabling real assets of the crypto-centric Fintech platform can be available. The purpose of the release of the BANKEX Demo is a test of smart assets using blockchain.
Information filled by users will be recorded on the blockchain which will require the role of MetaMask as payment for the transactions made. Once you have created a particular type of smart asset, you will be directed to a more detailed form. Some QR codes will be visible and contain intelligent contract address, asset address, and transaction address. Mobile apps use the concept of the Internet of Things. Given the scanned QR code, you can enable to change or add asset data by using the mobile app.
IoT data is used to obtain more accurate information about assets owned and improve the accuracy of asset evaluation results. By scanning QR code you can provide an asset number that grants access to the application to identify the assets you need to attach in the IoT data. All data contained in IoT will be recorded in the blockchain.
BANKEX Development Plan in the Future
The BANKEX project has been started since 2009. As time passes, various achievements of BANKEX begin to be achieved. BANKEX has also won numerous awards and obtained funding from renowned investors such as Mircosoft Azure. The BANKEX Pre-ICO token has even reached a fantastic amount of $ 1.5M. With its support for platform development, the roadmap in 2018 to 2019 has been determined. The goal is that the project can run with focus and finish on time.
Achievements in 2018 are planned to have a KYC BANKEX adapter. Reported the first commercial plasma and first ISAO smart token sales. The merger of licenses and required permits will also be implemented this year. To increase the strength of the platform is also necessary to create partnerships with several banks and exchanges. Besides, as support for the fintech community, it is required to develop a multicurrency token sale engine.
Implementation of the smart, smart conference will also be held in 2018 in Las Vegas. Development of portfolio’s finest management system even began to develop in this year. The event will arrive at the creation of a universal counselor of renewable smart-contracts and will start the BANKEX operation in Switzerland. In this year we will begin to work on interaction methods in the mining product scheme and the launch of cryptocurrency derivatives.
In 2019 the mechanism of BANKEX foundation began to be introduced. Smart, independent token for ISAO expansion. The integration of primary conventional banking and crypto economy and launched the standard intelligent token asset creation service. The center for smart asset certification will be established in 2019. Banking licenses will also be obtained this year. Besides, support from the law, companies, taxes, permits from entities for banking services in leading countries should also be achieved by 2019.
As a renewable platform with the incorporation of IoT, Baas, AI, and blockchain technologies will make BANKEX a profitable protocol in the asset market. The system offered is also apparent and directed. Having a goal to achieve a high level of liquidity makes BANKEX always ogled by investors. The application of cryptocurrency further supports the security of transactions taking place within the ecosystem. Ease of access from the user-friendly interface of the website and the app made probably increasingly adding to the convenience of each user to transact.
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