(https://steemitimages.com/DQmPStUyv4JvL2isFJ9a9AjRgCwjKnv99e3wXFippQzpibR/Baab%201.PNG)
BABB is a decentralized bank for solving microeconomic problems (in fact, an online platform based on blocking technology that provides individuals and legal entities with a bank account in the UK). The solution combines an application for a smartphone, through which you can manage transactions on the account, and a payment card. The BABB team already took care of obtaining the right to operate from the UK Financial Services Authority (FCA), and also seeks to obtain a banking license in early 2018. The team calls its decision "World Bank for microeconomics", which sounds, of course, defiantly. Let's see what the radical changes proposed by their project are.
Open an account in the UK is now very simple: you need only a passport or a person who has completely passed the verification, which could be vouched for you. In addition, you can open a basic account without submitting documents, using the application (just make a SELF - and your wallet is registered). Now this purse will be available, wherever you are (or, of course, wherever there is access to the Internet). Use of the wallet-application will be completely safe due to the provided protection system with several factors of authentication, tracking of activity and user preferences. The above-mentioned bank card makes the decision complete, although a number of certain actions are required to use it to pay: you can install the BABB application and scan the QR code or use NFC technology to pay for the purchase with it. But, as the developers promise, the transaction is executed instantly and the write-off occurs without delay. The team also took care of the security of the card, providing for it the lack of any personal data.
For all operations on the platform, a special BAX token will be used. In order to raise funds for the project, the team sells some of these tokens ($ 10 million was successfully collected on pre-sale). And the bulk of the sale is launched on February 6. In total, it is planned to raise $ 12 million, the minimum deposit amount is 0.2 ETH.
Website: https://getbabb.com/
Whitepaper: https://resources.getbabb.com/whitepapers/en/babb-whitepaper.pdf
Telegram: https://t.me/joinchat/E7lsBw5BqFHVEz1etGm9ww
Twitter: https://twitter.com/getbabb
Facebook: https://www.facebook.com/getbabb/
Blog: https://medium.com/@BABB