I welcome you my dear subscribers and readers. Today we will talk about a very technological and interesting project, BFEX, that is all set to provide equal financial access for all by developing a more widely accessible financial platform, and in turn, disrupting traditional financial institutions.
Lately, a steadily increasing number of ICOs are being launched, and consequently, there is an increase in problems that plague these kinds of investments, such is the mistrust that potential investors have in the Crypto-Asset industry, because it’s somehow hard to differentiate between a legitimate and illegitimate ICO project. As a result, even high quality and legitimate startups or existing companies struggle to have a successful ICO.
This calls for many stages of verification and due diligence to ensure that an investment is sound, well-organized and have general quality assurance. As a Crypto-Assets writer and enthusiast, it’s a must for me to carry out research/due diligence in validating the legitimacy of an ICO project before writing on or recommending it. I have a number of questions I ask and things I look out for in an ICO project before I could give such a project a yes-yes. One of the things I look out for is “the Goals, the business model, the Team and the Partners of a project”. And in this particular ICO project, BFEX, I’m writing about, it’s a yes-yes.
BFEX is a project I’ve been following for some time now, and this is what I can say about it:
It has a great team with a lot of relevant experiences, very attractive business model with a good dividend token use case, cap limits are within a reasonable range, professional content, good looking materials, secured, focus on the relevant networks and has a great road map.
BFEX (Bank Future Exchange)
BFEX, if you haven’t heard of it already, is a future Financial Institution platform intending to become a bank for the un-bankable, giving back the power to the people whom it belongs to. What distinguishes the platform is that it has developed the ‘Decentralized Social Trust Credit Scoring’ (DSTCS). BFEX believes that people, irrespective of social status, gender, race and location should have equal access to financial resources, with the helping hands of the privileged groups. This is why BFEX was established. BFEX creates a platform which serves as a bridge between the privileged and the opposite side of the society. It is also making sure that it token utility will be sustainable, as it focus sustainable growth over profit, by launching the BPAY application. BPAY application provides a payment solution, allowing users to pay for goods and services from BFEX business partners across the globe.
The team is absolutely amazing and they have been working on BFEX as a whole for sometimes now. I have tracked the records of various members of the team and I can say that they are incredibly professional.
I personally have done a lot of digging on BFEX and I am yet to find any major red flag that would make me give up on investing in their ICO. Knowing how much the core members of the team have sacrificed to build everything from the ground up gives me more hope about the company as a whole.
BFEX’s reputation speaks for itself and is strongly supported by various facts and by real business model that works every day. By investing (cryptocurrency) in the project you can be 100% sure of the reliability of your investment, as you invest into business with real assets and real people.
BFEX group, completely, every one of its representatives work for the advantage of the project/organization and are constantly prepared to help in any matter. If there are any doubts or questions, you can always contact support — technical support is ready to help at any time. They are dependably in touch and don’t dismiss any issue. For sure, at the present moment when we are discussing ICO ventures this reality is very crucial.
The BFEX Platform
While banking institutions are restricted under traditional loaning system, BFEX is determined to develop nano-finance services to meet consumers’ demands worldwide.
The key features of BFEX are as follow:
Decentralized Social Trust Credit Scoring (DSTCS)
A credit system which reflects more accurate credibility of nano-finance customers when comparing to the records shown by credit bureaus.
Peer-to-Peer Lending Platform
A system which allows the lender and the borrower to interact and agree on terms and conditions of the loan such as the interest rate and payment due date. All the entries are recorded on the blockchain on Hyperledger Fabric.
Connects users to available goods and services of BFEX business partners from various industries. This allows BFEX users to gain wider options of products and services, along with the privileges of cash back.
Blockchain Technology and Smart Contract
Blockchain technology is widely used in BFEX business processes which makes it impossible to substitute or lose financial data. Using Smart contracts makes BFEX a reliable and impartial guarantor of fulfilling obligations to the users/investors of the project.
BFEX aims to support funding under the concept of nano-finance in order to help boost economic prosperity globally. The operations are conducted via blockchain technology of which its trustworthiness, transparency, and security can be assured.
The smart contract written in Solidity follows the standard of ERC223, which is backward compatible with ERC20. BFEX architecture will be built on top of the Hyperledger Fabric.
ICO and Cryptocurrency
ICO is crowdfunding via use of cryptocurrency, which can be a source of capital for startup or existing companies. In an ICO a percentage of the newly issued cryptocurrency is sold to investors in exchange for legal tender or other cryptocurrencies such as Bitcoin.
Why you should invest on Early Stage
Early stage and existing companies might worth extremely low and have huge potential to fast-growing. Smart startup companies today can scale up hundreds of time faster than they could just a few years back. There’s never been better time to invest. This opportunity now available not only for venture capital or institutional investors, but for retail investors and for you too.
In order to create a first class Financial platform, acting within the framework of the global legal system, it is necessary to attract funding on a large scale which allows the system in question to start work as well as remain independent. That is why BFEX is conducting its own collection of funds using the most modern and convenient instrument, the ICO: the sale of tokens.
BFEX Tokens is a valuable digital asset, BFEX project’s token, which will be used/tradeable at/on the biggest crypto currency markets. With the help of ICO BFEX plans to attract the investment resources at a wide range. As suppose, the token sale will be interesting for the owners of digital assets, who would like to transfer them into the more secured investment tool and not to tremble anytime they hear the news about the possible Bitcoin rate falling.
BFEX as Equity Token
Equity tokens are suitable for investors who see the potential growth of the BFEX platform and interested in participating as shareholders.
BFEX as Utility Token
Utility Tokens are tokens utilized for purposes of payment for products and services via the BPAY application provided to users.
In other to participate in the ICO, follow these steps below
• Purchase the tokens: BFEX will issue a number of tokens during the ICO.
• Receive dividend payments: As a token holder, you have the right to receive payments equivalent to shareholder dividends.
• Convert your tokens into shares: As a token holder, you also have the right to convert your tokens into Ordinary Shares.
Pre-sale: (20% Bonus) 9,000,000
Launch Date: May 1, 2018; 7 pm SGT
End Date: June 28, 2018; 12 am SGT
Public Sale: (10% Bonus) 6,000,000
Token Sale: 60,000,000 Tokens
Launch Date: July 1, 2018; 7pm SGT
End Date: August 31, 2018; 12 am SGT
Pre-ICO Price: 1 BFEX = 0.3 USD
Price: 1 BFEX = 0.5 USD
Minimum investment: 0.1 ETH
Soft cap: 12,000,000 USD
Hard cap: 36,000,000 USD
Country: Hong Kong
So, if BFEX concept piques your interest, then this project is probably meant for you. However, I always advise that you go through the project platform page before making the final call.
For more info
Bitcointalk Address: https://bitcointalk.org/index.php?action=profile;u=1698372