Financial service is a basic economic right and not a privilege.
“A block chain driven fintech platform with a mission to enable access to basic financial resources for all”
We are inspired by the Guru of Microfinance who said ‘Poverty does not belong in the civilised human society’ — Professor Muhammad Yunus, Nobel Peace Prize Laureate.
We see innovation in the most impoverished of societies — they innovate daily to survive. They innovate to meet their basic needs to move up the economic ladder.
What if we trigger and stimulate them to achieve their life’s goals and ambition?
What if we enable them to begin their economic journey and build a future that moves them up socially?
How can social trust become a core component of social capital? Some questions to ponder about?
Digitizing Economic empowerment
Social trust between citizens, it is said, contributes to a very wide range of phenomena, including economic growth and economic empowerment, social trust using data sciences makes banking services accessible and affordable to all individuals and businesses, irrespective of net worth and size.
As the world itself is being directed towards the technological advancement and smartphones are becoming more essential in our routine, BFEX (Bank Future Exchange) seizes the opportunity by digitising loans and payment using smart technologies, big data and machine learning. At BFEX, Ethereum provides the ecosystem for lending that is conducted on-chain. By decentralized lending, all transactions are made on blockchain and all data that is associated with the loans are stored; and running on the blockchain network. The solution provides safety, trust and transparency between the borrowers and the lenders on the BFEX platform.
BFEX’s platform would enable transparency, speedy operations, convenience, cost-effective transactions and build safety and trust to serve the basic needs of 1.7 billion unbanked adults.
BFEX’s Peer-2-Peer lending system allows access to nano-finance for the underprivileged who have yet to receive the benefits of a bigger digitalised economy.
BFEX’s nano-finance doesn’t limit the possibility of account ownership with a specific amount of money instead, possibility of repayment would be the only measurement of the persons credit worthiness. Trust is at the centre of a cluster of rules in disbursing loans. As also providing them with a digital identity that they can build on.
While others restrict their users with Credit Bureau and biometric identification, BFEX innovates a new system to facilitate the P2P lending platform.
What makes BFEX’s core different?
This difference from other platforms lies in the Decentralised Scoring (DS); a social credit measurement algorithm in BFEX’s platform that motivates people to become more financially responsible.
Financial inclusion indeed doesn’t only consist of one perspective; ownership of a digitalised account. Making financial transaction become more relevant in users’ routine, whether personal or business, includes platform’s dependability and cost effectiveness.
Our BPAY Application offers customers and business partners a value proposition platform that will allow smooth payment solution, with BFEX tokens.
BFEX business partners will gain access to a wide customer base provided by the BPAY application and our customers receive privileged deals from our partners. Precisely, one could say, that BFEX intends to become a platform to facilitate new users who have never been ‘digitally banked’. The user experience should be pleasant and convenient. The right to access digitalised economy and financial resource, as well as the right to become fully included in the economy via BFEX’s platform.
Visit our official site: https://bfex.io/