Baanx Builds a Financial Services that are Fit for the Blockchain Era

4 min readOct 20, 2018

Traditional banks are ill adapted to deal with cryptocurrencies for a multitude of reasons and this opens up the opportunity for new types of Blockchain based Financial operations who are faster, less expensive, and more flexible to take market share from traditional Banks and Financial Services players, who are slow to adapt.

The Mission

Currently in the newly emerging Blockchain Crypto-Financial Services market there are huge gaps in product lines from what traditional banks offer to those in the Crypto world.
Baanx was founded to close the gap with secure, innovative products released through the Baanx platform.

The Goal

The Baanx Group’s goal is to create financial services that are fit for the blockchain era, bringing much needed simplicity and security to the crypto-marketplace with our mobile App and services.
Furthermore, Baanx road map sets out plans for the leveraging of brand loyalties to enable fast deployment of platform based Cryptobanks. These will function on behalf of businesses, charities and individuals to increase the growth and traction of mass user adoption; building a combined blockchain crypto and fiat system on the Baanx OpenAPI platform.

The Development

Baanx.com is growing cutting-edge services through the Baanx brand and CryptoFinance Network. Baanx.com has already developed key initial products and arranged licensing deals for many others, to ensure rapid scale-ability of the platform in Q3/Q4 2018, with the following key customer benefits:

Lower costs of operation for Baanx than Traditional Banks mean cheaper Banking services for customers, more efficient and faster through key improvements.
Savings passed on to end Customers
Artificial Intelligence & Automation (Robo-advisors & intelligent systems in place).
Private Blockchain based banking on a global scale is cheaper to run, easier to manage and better for customers.

The Key security features

Baanx has fifth generation enhancement technology based on virtual system protection technology.

Android HTML5 script encryption
Assembly code compression and encryption
mShield transparent local file encryption
APP integrity cross-validation technology
mFirst anti-debugging technology- protection from static analysis and dynamic debugging
iOS Obfuscation
Multi-signature deposits and withdrawal schemes which can only be used by partners.
Amazon Web Services/PKI crypto to protect the servers with text messages and two-factor authentication, as well as hardware tokens.
Bank level system for risk checks on transactions.
Email notifications, and PGP encryption is used for all communication.
Secure Database popular amongst major banks in high frequency trading applications (fast, reliable, proven, $billions move daily).
Withdrawals are all individually hand-checked by employees, and private keys are never stored in the cloud.
Deposit addresses are externally verified to make sure that they contain matching keys.
Background security checks for all employees

Multi Exchange Integration

The Baanx App is integrated into multiple key exchanges, enabling you to buy and sell crypto and fiat at the best live price.
Baanx utilise highly secure, super fast trading technology to give you access to 9 key crypto exchanges without having to complete multiple KYC forms.
This aggregated buy opportunity provides a significant advantage for customers wanting the best price possible

Payment through Virtual Card Integration

Fast, easy to use Mobile Payments for Crypto and Fiat, listing 12 key Cryptocurrencies and 6 Fiat Currencies.
Crypto payments are converted to Fiat (USD/EUR/GBP) at the point of sale using our intelligent app.
The Crypto-pay first version integrates completely into the current payments system globally to ensure no merchant has to take cryptocurrency until we have the infrastructure for this capability in place around the world.
Mobile integration into ApplePay, AndroidPay, AliPay so we can utilize the NFC capabilities of smart phones worldwide and ensure release of our product in 2018.
Customers can pick any of the crypto or fiat currencies to lock to their virtual card, or have multiple virtual cards (see MVP) with connections to each crypto or fiat currency to use for different purchases.
You can pay in 45 million merchants using ApplePay, AndroidPay, Alipay — or use your virtual card number to spend cryptocurrency online too.
Low Payment fees made in BAANX BXX for each transaction are charged between 0.1 and 0.5% of the total transaction.
No limit payments will be enabled and full cryptocurrency balance insurance against hacking offered in a highly secure mobile app environment, utilising encryption software to protect against non-authorised access into our mobile code.

Baanx Group has already delivered millions of loans in one fintech segment in recent years: consumer lending. We saw a massive global need for crypto banking and began by building an MVP mobile app, crypto secure custody solution and OTC Exchange.

Project Details

Bitcointalk ANN: https://bitcointalk.org/index.php?topic=3052592.0
Website: https://baanx.com
Whitepaper: https://baanx.com/request-whitepaper
Telegram: https://t.me/Baanxcom01
Twitter: https://twitter.com/baanxcom
Facebook: https://www.facebook.com/baanx.io

ETH: 0x83d621b5615DfAa5E150Bc85eFC1bc938E8c21eB
Bitcointalk username: The Planner
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=2037457