BANKEX Monthly Update: March 2018
This March, BANKEX announced several projects that are now at different stages of development. We’re pumped about these projects as they are all the stuff of legend and we think your mind will be blown away as well!
All BANKEX projects and technologies are aimed at building a sound, stable and open blockchain ecosystem. What does that even mean? We’ve lit the fuse and the market for tokenizing real world assets is huge now. The most valuable player, however, would not be where it is without the leading edge in technology.
Right now, leadership is about building tech infrastructure for the community. Building an ecosystem for asset tokenization means having standards that are useful for everyone. To achieve this standardization, BANKEX has developed the ‘caterpillar’ concept for Smart Assets, a series of four absolutely essential points that must be linked to be able to truly call a token a Smart Asset. These four interconnected links include:
- an initial contract that contains information on the physical asset;
- the possibility of validation of contract information;
- the possibility of audit by an independent 3rd party;
- compliance with the legal regulations of the environment of its origin and sale;
All BANKEX projects are interconnected on the ‘caterpillar’ principle for Smart Assets — the proper technology and resulting product.
This month we’ll provide updates on previous activity and explain the role of each product created in March.
Technology
This March, BANKEX and the BANKEX Foundation tech team have upgraded and re-developed the technology behind the BANKEX Plasma. A set of APIs is ready for developers and the implementation architecture is mostly ready and will not undergo any significant modification before its release on the main Ethereum Network. The BANKEX Plasma enables users to exchange different assets directly between each other on blockchain without intermediaries. It solves one of the most pressing problems of the blockchain world — high levels of gas consumption.
Projects
- BKX Scan
BANKEX launched a premier version of BKX Scan, an Ethereum transaction accounting service. The prototype is available here. This product inseparably linked with the future of the BANKEX exchange where Smart Assets made available for transactions.
- BANKEX Claim Solution Board
This March BANKEX will launch the Claim Solution Board, a service that moderates disputes related to blockchain based transactions. Blockchain technology has tremendous advantages, such as decentralization and a high level of transparency, but there are foundational problems within the industry related to accountability for technical and service functions. There are no commonly accepted industry wide solutions to evaluate the quality of services provided. Offline arbitration cannot resolve crypto transaction disputes — the solution must come from within. The BANKEX team has developed the BANKEX Claim Solution Board — an initial step towards self regulation in the blockchain sphere.
- BANKEX Trading Terminal
To trade crypto assets as professional, one needs professional tools. The BANKEX Trading Terminal promises to become one of the best on blockchain because we took all current challenges and trends into account at the design level. The BANKEX Trading Terminal is a link between the BANKEX Exchange and the BANKEX Crypto-Asset Custodian.
- App Tokenization
This March, BANKEX has published a detailed step by step how-to guide for app tokenization.
- How MediaToken Works
BKX Allocation Update
We’ve received a lot of requests from the community to explain the allocation of BKX token in a more detailed manner. We’re all for transparency and education and so we’ve prepared a detailed report that we hope you’ll check out.
Igor Khmel and Sergei Sergienko
On March 6th Chronobank.io CEO Sergei Sergienko visited the BANKEX office in Moscow and met with BANKEX CEO Igor Khmel and our team. It was a great meeting of minds. Sergienko and Khmel discussed BANKEX technological developments that will bring evolutionary changes to off-chain businesses in 2018 and other innovations BANKEX has been nurturing.
Events
In March BANKEX representatives were scattered all over the world attending several major forums. BANKEX CEO Igor Khmel participated in SFIG Vegas 2018. Read more about it:
New Live Streams
Every Wednesday BANKEX product, finance and development managers are livestreaming on our Facebook page. We love to get in with the crowd and talk shop! If you missed any particular livesteam, you can find the archives videos here:
Dmitry Vladimirov, product owner of BANKEX Claim Solution Board, talks about his project on a livestream.
Alexandr Vasilev, Mediatoken Project Manager, talks about advantages of the project.
New Media Coverage
Listen to BANKEX CEO Igor Khmel talk about decentralized banking as a service (baas) on the DailyCrypto podcast.
And on the bitcoin podcast.
What to Expect in April
In the coming month, BANKEX will present several new products and services. Stay tuned!
We love to hear from people so please feel free to contact us directly with any questions you may have. We are always glad to meet new people interested in fintech, to get a chance to explain how stuff works and to make new friends.
Thank you for your support!
The BANKEX Monthly Update is a community bulletin with news and information about BANKEX activity and results. We’ll announce plans for initiatives and milestones towards realizing ongoing projects and goals and we’ll share information about BANKEX participation in events in the fintech, blockchain and other spheres.
