BRRT Token Economy — The Benefits
Token generation events and a tsunami of new cryptocurrency tokens have left many coin investors feeling a little baffled as to whether tokens are really producing anything sustainable for the blockchain community at large. As with all technological leaps forwards, early evangelists jump on the bandwagon, swinging their buzzword pitchforks, blazing for a revolution on a dime-sized understanding of the actual technology.
In short, this is why tokens are crashing and burning. The tokenomics that are meant to be underpinning the concepts are looser than a six-year-old’s tooth. The problem is that while many understand that blockchain technology is the face of the future, they’re not sure why or how its relevant to their own business models — chucking that square peg in a round hole, however it will fit.
With Blockbank, however, the co-founders, Cuffe and Sozi, saw the problem of a global funding gap, and realized how blockchain technology could be leveraged to provide the solution to that worldwide financial issue.
Why is the BBRT Token Economy Important?
In the current crypto climate, many new crypto-tokens are faced with animadversion almost immediately. As the flood of tokens entered the market and cryptocurrency set foot into its bearish state, the conditions for widespread scepticism and cynicism has led to many blockchain start-ups crashing and burning early on. Releasing their projects at the wrong time, it became apparent that a significant lack of business economic understanding has led start-ups to neglect the importance of tokenomics. However, when token economics are disregarded, blockchain start-ups provide no real need for their token economy — in turn, no real value for their coin.
Blockbank’s approach has been one of caution and extensive consideration. Launching their ICO recently, Blockbank realised the economic need for their project and the network that could be created from this opportunity.
Using their token economy to leverage their product, create need, and close the feedback loops, Blockbank have devised a business architecture that strengthens and scales via the token economy, rewarding all participants within it.
How Does the BBRT Token Economy Work?
BBRT is the ERC20 utility token that enables the operational functioning of the Blockbank commercial loan platform — essentially the backbone of the business model. Using BBRT, commercial loan applicants can pay their loan fees to globally access low-cost FIAT commercial funding.
While the current global funding gap sees commercial loans directed to financial and technology sectors at the expense of other industry sectors, SMEs and local governments struggle to find funding. However, now thanks to Blockbank, these entities can access funding using BBRT from anywhere in the world.
With BBRT, small businesses, SMEs and local governments can access funding to start companies or projects, kickstarting new concepts into reality.
Having used BBRT to pay loan fees, these commercial entities can now also accept BBRT as a global payment method. As users of BBRT can pay for goods and services all over the world, Blockbank’s token now gives businesses an extra channel of commerce. Using discounts to encourage payment in BBRT, businesses can begin to build an alternative fund in BBRT to support themselves and their company.
With a mounting nest egg of BBRT, businesses can now more easily and readily apply for further funding from Blockbank. Using Blockbank as a fuel injection to scale the business, SMEs can utilize their incoming BBRT to access another round of low-cost funding to pump into business expansion.
Alternatively, as the decentralized token economy scales and more businesses accept BBRT as a payment method, SMEs and local governments will be able to use BBRT to pay suppliers. In this sense, BBRT becomes a payment vehicle to ease supply chain logistics across borders.
In doing all of this, Blockbank works as the lynchpin to enable neglected industry sectors to rebuild, using Blockbank as a victual of funding to expand and grow, while ensuring smooth running operations.
The Benefits of Blockbank’s BBRT Token Economy
The advantages of the Blockbank BBRT token economy expand considerably farther than their immediate product range. Currently, Blockbank are offering commercial low-cost FIAT loans through their decentralized platform. Yet, more poignantly, as the first fully licensed bank on Blockbank, they are set to scale their services alongside the growth of the token economy.
By combining commercial funding products with a strong interconnected network of businesses and customers worldwide, Blockbank paves the way for smoother supply chain logistics, ease in commercial funds management, and better access to goods and services, while bolstering neglected industries.
Access to Low-Cost Commercial Funding
While it seems that there are many financial entities around the world offering commercial funding, a closer look demonstrates how inaccessible this funding truly is. Whether this is due to the strong funding bias toward tech and finance, or simply due to the exorbitant interest fees, it is patently clear that small businesses are suffering due to their inability to gain access to funding.
While this prevents new small businesses from taking off at all, the dearth of accessible commercial financial products also hits existing companies hard. Often supply chain logistics for small businesses require injections of liquid cashflow on spontaneous occasions. With low-cost funding now available from Blockbank, businesses are able to juggle fiscal issues leveraging financial products.
The BBRT token economy enables Blockbank to provide these low-cost, accessible commercial loans on a global scale. By leveraging blockchain technology, BBRT transactions are cheaper than transactions by third party gateway services such as Paypal, while also being faster.
Blockbank’s execution of smart contracts allows many of the processes to be automated, increasing accuracy as well as speeding up the activity.
Thanks to the speed, automation, accuracy, and affordability of blockchain tech, Blockbank are able to transfer those cost savings to interest fees — this means Blockbank can offer loans with 20–30% lower interest rates than their competitors.
The pillar of Blockbank’s business model, BBRT, must be used to pay loan fees — automatically exchanged via The Blockbank Exchange. This means that users can pay loan fees simply and easily from anywhere in the world, without costly currency exchange rates and third-party transaction costs, making these low-cost loans more affordable than ever before.
Global Payment Mechanism
Currently, international banking is expensive and slow. For account holders to send money internationally, they are subject to high transaction costs, expensive exchange rates, and extremely slow operations logistics. For international payment on websites, third-party services like PayPal and Stripe certainly enable quicker transactions, but they come at a high cost.
BBRT transaction costs are far lower than those by existing third-party entities. By accepting BBRT as a global payment mechanism, businesses cut out the need for third-party entities. Negating the need for slow bank transfers and expensive gateways, businesses that accept BBRT as a payment mechanism enable their customers to access their goods and services more affordably.
For customers, this means cheaper products. For businesses, this means a wider revenue stream and bigger target market; especially if discounts are provided to encourage the usage of BBRT.
As a global payment mechanism, businesses can also utilize the BBRT token economy as a conduit to access suppliers. Paying manufacturers and suppliers for goods and services in BBRT, again, cuts out the high transaction fees and cross-border payments. This irons out the wrinkles in the supply chain and creates a more efficiently operating system.
Decentralized Support for Businesses
Currently the funding gap is leaving small to medium enterprises (SMEs) out in the cold. Without access to funding, not only are we seeing fewer wholesome SMEs taking off, existing small businesses cannot grow, can’t scale, and find themselves collapsing under the weight of their own costs.
The BBRT Token Economy is designed to help reinvigorate this system. By providing low-cost FIAT loans to commercial entities, Blockbank enables new businesses to get started while providing established companies with cash injections to manage logistics. As loan fees are paid in BBRT, Blockbank’s token becomes the fuel that financially supports these businesses.
It doesn’t stop there, however. As more businesses apply for funding — having recognised the ease of funding using BBRT — the decentralized token economy spreads laterally across the globe. This opens doors for businesses to both access a new target audience as well as new supplier pipelines.
Accepting BBRT as a global payment mechanism, businesses can lean on the BBRT token economy to provide sales and manufacturing support. The architecture and logistics of the BBRT token economy enables it to scale globally, in turn providing SMEs with access to these avenues across a global scale, while rewarding BBRT users for participating in the economy.
In praise of the architectural excellence of the blockchain system, the BBRT token economy also helps to support the security and privacy of businesses. The immutable nature of the decentralized ledger combined with the high-level encryption and tamper-proof security, are the result of a robust architecture that protects the security and integrity of all transactions across the BBRT token economy — protecting all businessowners and customers.
This provides value to BBRT, while supporting all participants, and scaling the strength and resilience of the BBRT token network.
BBRT Helps Businesses Build Economies
By providing a route to funding, immediately trellised alongside the BBRT token economy, Blockbank delivers a decentralized support network that helps new and existing SMEs to grow and flourish. Where currently commercial financial products appear to only illuminate the fintech sectors, Blockbank’s BBRT token economy scaffolds SMEs, reinvigorating neglected industries. With Blockbank’s token economy buttressing small businesses and local governments, these sectors can return as refulgent as ever.
By closing the funding gap and supplying the token network as a reinforcement, Blockbank’s BBRT helps to build and strengthen economies. On a local level, this materialises with more complex and comprehensive access to good and services within and among communities. In a fiscal sense, extra businesses taxes associated with an increase of SMEs and local businesses enables local governments to repair infrastructure and social services to boost these communities.
On a wider scale, BBRT weaves a lateral decentralized community, providing goods and services in a more efficient and effective manner. Using BBRT as a global payment mechanism not only opens up sales channels and eases supply chain logistics, it manifests wider networks to scale businesses.
As these businesses scale and BBRT becomes more readily utilized, this creates a closed-loop system where the decentralized exchange of BBRT allows the architecture to scale, benefiting everyone and continually easing the process of commercial funding to encourage commercial growth in a more fair and resilient manner.
How to Enter the BBRT Token Economy
If you are looking to jumpstart a new business venture or you feel you could use a little funding to help iron out your company, taking advantage of the ICO phase will provide you with added discounts on your loan fees — as tokens are now sitting at 50% of their value.
Equally, if you envision better supply chains, more sophisticated global payment mechanisms, and no middlemen in your business operations, you can purchase your BBRT straight from the website now, getting you securely into the BBRT token economy from the very outset.
BBRT tokens are now available on the LATOKENexchange
Blockbank’s Platforms
