BANKEX Monthly Update: May 2018
The last day of spring has come to an end, and summer 2018 has begun. Here’s a recap of what BANKEX accomplished in May. After the end of the TSE in January, BANKEX team worked hard 24/7 on the products and technology for asset-tokenization. This month, we have presented the first case of institutional-grade asset tokenization (aka Moviecoin), released BANKEX Smart Justice, developed the new ERC-888 token, organized our articles in the Library of the Blockchain, and held our Proof-of-Skill hackathon. Keep reading to learn more!
New Product
BANKEX launched Smart Justice, a blockchain based arbitration service for dispute resolution and reputation management in the crypto sphere. Decentralized transactions rely on math and immutable ledgers, and Smart Justice arbitrations are fully aligned with this concept and technology.
You can check Smart Justice here: https://sj.bankex.com
Using the Law of Large Numbers, independent judges from all over the world are randomly selected to review cases of disputed blockchain based transactions, which are presented by aggrieved parties.
Reputation is the new currency, right?
New Technology
This month BANKEX presented a new standard of token: the ERC-888 token. The ERC-888 is a multi-dimensional token standard, which was developed out of ERC-721 in order to deploy several assets at once during tokenization.
This new token means we are one step closer to tokenization.
Asset Tokenization
By tokenizing real industry properties and using BANKEX’s proprietary Proof-of-Asset Protocol technology, smart assets will be issued on MovieCoin, a platform led by Hollywood financier and film producer Christopher Woodrow. This will give global investors the opportunity to participate in the financing of major motion pictures via the acquisition of cryptographic tokens. MovieCoin intends to provide $1 billion for film and entertainment financing over the next three years.
Transactions on the MovieCoin platform will be recorded using blockchain technology, which will track rights management on a digital ledger recording every dollar spent and collected. This technology will provide fair and transparent accounting standards for film studios, financiers, producers, talent and other stakeholders.
The First BANKEX Proof-of-Skill Hackathon
On May 19–20, 2018, BANKEX Foundation held its first research Proof-of-Skill hackathon on the blockchain. 18 teams competed to achieve victory and a place in hackathon history. The Proof-of-Skill hackathon was the first step in BANKEX’s plan to radically increase blockchain community outreach. This summer we are planning to hold a remote world-wide hackathon as well as a massive hackathon in Europe, which will be dedicated to the Ethereum platform, blockchain industry and the consolidation of the crypto community.
New Live Streams
If you want to know more about BANKEX Smart Justice, you should watch the live stream with the product owner!
The Library of Blockchain
Here at BANKEX, we try to educate ourselves every single day. This May, we finished a three-part series on Tokenization. During the last several months, we were writing articles that highlighted blockchain technology and BANKEX products. For your convenience we have systematized and compiled them in the Library of Blockchain.
Media
New interview with BANKEX CEO Igor Khmel.
About BANKEX New Product: Smart Justice
What To Expect In June
We continue our non-stop work on merging real-life assets with blockchain , so in the first month of summer expect announcements about our new products and technologies. Stay tuned!
We love to interact with our blockchain community, so feel free to contact us directly with any questions you may have. We are always glad to meet new people interested in fintech, and explain how this crypto stuff works and to make new friends.
Thank you for your support! ❤️
In BANKEX Monthly Update we publish news and information about the hardworking BANKEX team, its professional activities, and achievements. We also 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.
