What exactly is BFEX?
1 min readMay 16, 2018
BFEX (Bank Future Exchange)
- FinTech social enterprise
- Established in Hong Kong
- Global team of founders and advisors
What Does BFEX do?
BFEX mainly does two things:
- Decentralized peer-to-peer lending
- BPAY Payment solution
What is decentralized peer-to-peer lending?
BFEX develops a decentralized peer-to-peer lending platform which securely matches the borrower with the lender. This is easily accessible with the BFEX mobile and desktop applications.
How does this work?
- The borrower sets the payment due date, the interest rate, and the amount to borrow.
- The platform randomizes the borrower’s profile on the platform until any lender agrees to this borrower’s condition.
- Once the lender and the borrower have an agreement. The agreement and the transaction will be recorded on blockchain.
How is BFEX peer-to-peer lending platform different?
- Decentralized Social Trust Credit Scoring (DSTCS)
- The credit scoring system in the p2p lending platform
- Gathers the users’ comprehensive information — such as KYC, utility bill payment, and Spotlight social network activities — and analyzes them into the users’ score
- No credit bureau needed
2. BFEX Spotlight
- BFEX social media on the peer-to-peer lending platform
How does this work?
- Users set goals and missions on Spotlight
- Each goal completed will be generated into a score by DSTCS
What is BPAY payment solution?
BFEX develops BPAY wallet mobile and desktop applications which can
- Store BFEX and Ethereum
- Pay for goods and services with BPAY business partners — ranging from hotels to restaurants around the world
How do I pay?
- Pay directly from the BPAY mobile application