BABB is the world’s first decentralized blockchain based banking application that allows its users to avail all services that are offered by any traditional bank.
|Description||BABB is the world’s first decentralized blockchain based banking application that allows its users to avail all services that are offered by any traditional bank.|
|White Paper URL||https://resources.getbabb.com/whitepapers/en/babb-whitepaper.pdf|
|Token Platform||ETH (ERC20)|
|Funding Cap||$20 Million|
|Coins Offered||60% out of 100%|
What Is BABB?
BABB is the world’s first decentralized blockchain based banking application that allows its users to avail all services that are offered by any traditional bank. The application intends to bring solution to the contemporary approach of today’s banking system where less privileged are either ignored or not given due importance. This doesn’t only creates a sense of discrimination in the society but also ignores the $380 billion market opportunity. Using BABB, it has become viable to boost the economy to new horizons.
BABB is a blockchain based decentralized banking system that focuses to incorporate a mechanism through which the interest of micro-level stakeholders can be uplift, making them participate in the growth of the economy by executing their transactions through banks. It is estimated that around 2 billion out of 7 billion people around the world never used a bank. The reasons could vary such as there may be someone who is unable to access the bank due to living in some rural areas or reluctant to use the banking services for no good reason. The first initiative to bank the unbanked was taken in the MEXICO that led an increase of 7.6%, 1.4% and 7% in the number of entrepreneurs, employment figure and average income respectively.
How Does BABB Work?
BABB allows anyone to avail and use the banking services anywhere in the world with the help of a smartphone connected to the internet. People are no longer required to have a bank account in order to get their deals done. Now a decentralized financial services module is available at your fingertips. You can also get your friends and family on board once you become a validated member of the BABB network. All they need to do is to download the BABB application available on Google Play Store and App Store for android and i-OS based mobile phone and tablets. After installing the app, they need to take a selfie and say a passphrase. This is how their digital identity is created. The Social KYC mechanism of the BABB networks helps in creating banked communities.
Earn BABB Tokens
To earn BABB tokens, investors can participate in the crowd sale of the ICO since it is in progress. Investors can get themselves registered by accessing the official website of the ICO. Alternatively, those who do not wish to participate in the crowd sale of the ICO or unable to participate can earn BABB tokens in exchange for other cryptocurrencies on supported exchanges.
Buy BABB Tokens With E-Wallets
The platform is based on Ethereum. Ethereum being a digital currency need to be stored in e-wallet. Therefore, people who wish to buy BABB tokens need to have an e-wallet before they go to buy BABB tokens. Many exchanges around the world offer free e-wallets these days. Investors are advised in their best interest to sign up for an e-wallet offered by a legitimate company only.
The ICO Distribution
The ICO has just launched its public token sale this month. However, we couldn’t find the exact dates. We also cannot say anything about how long the ICO will last. Anyhow, there will be a total of 60% token supply available for the public to subscribe. The ICO has defined a hard capping of $20 Million. The ICO is only accepting ethereum for the purpose of contribution. The starting price of the ICO is $0.0012. The minimum limit defined by the ICO for a single transaction is 0.2 ETH.
The ICO plans to distribute its token under following proportion;
- 60% of the tokens are offered to the general public to subscribe
- 20% of the tokens are planned to be distributed amongst the team members of the ICO
- 18% of the tokens are planned to be distributed to the foundation of the ICO
- 20% of the tokens are planned to be distributed to offer bounty and reward programs by the ICO
Usage Of Funds (100%)
The ICO plans to allocate the funds generated from the ICO in following proportion;
- 30% funds are expected to be allocated to the development team of the ICO
- 20% funds are expected to be allocated to the Operations of the ICO
- 20% funds are expected to be allocated to the marketing department of the ICO
- 10% funds are expected to be kept separated to meet legal requirements
- 10% funds are planned to be injected as a working capital
- 10% funds are planned to be kept aside as a reserve
Unlike other ICOs, BABB doesn’t seem to offer any bonuses to its early investors. However, it is very unlikely for the ICO not to offer any bonuses to their early investors. We look forward to hearing some good news from the BABB announcing bonus offers for their early contributors.
The ICO has following team members.
- Rushd Averroes is the Founder / CEO of the ICO
- Jorge Pereira is the CTO of the ICO
- Adam Haeems is the COO of the ICO
- Adi Ben-Ari is the Lead Technical Advisor
- Leonard Seelig is the NE Director at BABB
- Rotem Hayoun-Meidav is the Technical Advisor
- Dean Refaat is the Head of Research at BABB
- Dean Refaat is also the Head of Research at BABB
- Jingwei Li is the Researcher at BABB
- Ani Alexander is the Marketing Head at BABB
- Annabel Mellor is the Communications Head at BABB
- Mai Abdel-Aziz is the Communication Manager for Middle East Region of the ICO
- Jocellin Lee is the Marketing Manager for Asia at BABB
- David Devia is the Video Content Creator at BABB
Invest In BABB
After a careful review of the ICO, we hereby conclude that BABB is truly a market leader in introducing banking services to those who are less privileged. The ICO has a workable objective and sound crowdsourcing arrangement. The concept of the ICO is also very appealing. We believe people should definitely invest in the ICO.