Who are Blockbank?
Blockbank will be the first fully licensed bank on blockchain
With a team of financial experts in its ranks, Blockbank combines next-generation banking technologies and dynamic technology, providing commercial financing solutions tailored to companies, institutions and governments.
Born from an idea of co-founders Adam Cuffe and Yusuf Sozi, Blockbank leverages the security and transparency of blockchain technology to provide commercial loans worldwide.
Blockbank emerges at a time when the global funding gap is reaching a crisis point. The discrepancy in loan products around the world is leaving small businesses and some key industries without access to loans.
Mr. Cuffe and Sozi understood the potential of automation, accuracy and security of smart contracts as a solution to overcome many of the shortcomings of the current international funding industry. Drawing on the advantages of cryptographic space, Blockbank is able to offer its commercial lending products globally at competitive prices. This provides convenient access to secure financing on a globally accessible platform.
Capitalizing on the flexibility of technology, Blockbank is able to offer tailor-made commercial financial services, supported by their expert team of financial experts. In expanding access to affordable commercial loans worldwide, Blockbank is paving the way for neglected industries to thrive in a new generation of banking technology.
What does Blockbank offer?
With unremitting words buzzing around the technology space, it can be hard to see why companies like Blockbank are leading us to a new generation, and why we should be on board.
Blockbank's use of blockchain technology is a sophisticated and simplistic solution that embodies and guides the whole "quiddity" of the banking revolution – in more than one way.
Blockbank offers commercial loans at affordable prices
Empowering people to find financial freedom is a difficult task. The enterprising spirits fall to the first obstacle, realizing the true costs of loans to companies.
In light of previous banking crises, commercial loans now have very high rates, making it extremely difficult to access the financing needed to take off projects. This lack of funding often leads to a drought of services at the local level and the breakdown of businesses and social services.
Blockbank wants to change this by offering commercial loans at affordable prices.
One of the many advantages of blockchain technology is low-cost transactions. Likewise, the automation of smart contracts allows the distribution of loans without intermediaries. Furthermore, the creation of Blockbank's BBRT utility token relieves expensive exchange fees.
All these combined things allow Blockbank to offer its competitive lending to other banks, allowing access to finance to start or run small and medium-sized enterprises (SMEs), to support a government project or to improve an institutional process (etc.) .).
In this way, Blockbank helps individuals to pursue their entrepreneurial dreams to achieve financial independence. With a capital injection behind them, entrepreneurs have the freedom to start new projects and more easily manage the logistics of existing projects, while operating effectively.
By organizing the redistribution of commercial financing, Blockbank is in an ideal position to support the success of SMEs. By offering an economic pathway to finance a decentralized global network, Blockbank aims to help neglected industries get back on their feet. This helps to improve and diversify access to goods and services, strengthening local economies worldwide.
Blockbank has an expert financial team
Blockbank offers not only financial products, but also tips to accompany it. Trusting its tailor-made solutions, Blockbank offers tailor-made commercial loans designed specifically for each customer.
In this way, the Blockbank team is able to assist businesses in their efforts, while helping them to get the most out of their funding. Blockbank's highly skilled financial experts are available to create each deal, sealed in smart contracts for security and immutability – highlighting the transparency of Blockbank's operations and ensuring that each party is satisfied.
Blockbank invites you to join their pawn economy
The economy of token blockbanks is the backbone of their dynamic banking system, which allows for global access and affordability.
By introducing the BBRT utility token, Blockbank fees are paid using their token. Due to the limited supply of their ERC20 token, the value increases with each successful Blockbank loan.
On a larger scale, Blockbank is expanding the token economy on a larger network, allowing BBRT to be used as a global payment method. By accepting BBRT as a payment method, companies can take advantage of the opening of new sales channels, while providing discounts to BBRT users as an incentive.
Having been paid into BBRT, entrepreneurs now give a constant supply of BBRT to reapply for additional funding from Blockbank to improve and standardize operational logistics. Alternatively, entrepreneurs can use BBRT to contact suppliers who also accept the token.
Since BBRT does not need a third-party service like Paypal or Stripe, the transaction fees are much lower, making the global payment easier and cheaper. This gives all token holders a new access to goods and services, without expensive exchange rates or transaction fees.
But, why does Blockbank offer this service?
In our day, interest rates for commercial loan products are so high that many independent entrepreneurs can not access these financial products. With over 50% of the global population hired, expensive brokers jump on every transaction and exorbitant interest rates, the accessibility to the loan is more difficult than ever for certain business sectors.
Furthermore, we are seeing problems in redirecting commercial loans, leading to a lack of commercial loan products for SMEs, to the detriment of the stability of local economies.
Combined with security breaches in banking technology and access to these central authorities, access to commercial finance has become extremely difficult around the world. Blockbank aims to address these issues by providing affordable financial products on a decentralized platform worldwide, supporting SMEs and governments and strengthening local economies.
The commercial loan is inaccessible
There are several reasons why commercial loans are inaccessible to those who need them. Firstly, excessively expensive interest rates mean that many commercial loans are simply inaccessible. If the applicants could spend the goods to support them, the interest rates for commercial loans may exceed 20% in developing countries.
While successful candidates can benefit from the injection of money, they often fail to repay, leading to a debt spiral. Many people end up repaying the full amount of their loan on interest commissions within the first few years. This is simply not feasible for most business owners, who do not even bother to apply.
Furthermore, recent statistics have shown that over half of the world's population is without money. Without access to banking services, the concept of commercial financing is impossible. In the absence of space to send or manage funds, independent companies can not apply for loans from any financial institution. This is particularly evident in developing countries.
The Global Funding Gap
Mr. Headphones and Mr. Sozi recognized the need to make a move on the global loan gap. At this time, funding is concentrated on the financial and technological sectors. While this helps these areas to progress, bringing new wonderful inventions to our lives, it means that funds are increasingly being directed to key sectors such as health, education, infrastructure and social services.
At local level, this is reflected in the suffering of SMEs. High roads and commercial complexes all over the world are dominated by large corporations that push SMEs and local businesses. While these organizations have the ability to offer cheaper products and seem to create jobs, they push local industry out. Where thriving independent companies lead to financially secure and resilient individuals, different local economies – the dominance of businesses leads to low-income workers, a lack of socially supported infrastructure and social services, and local money that leaves the community as it is put back into the globalized business machine.
As commercial finance is focused on technological and financial institutions, it has become increasingly difficult for independent companies to have a point of support in their local economies. Without access to realistically affordable funding, now headed elsewhere, SMEs collapse and independent entrepreneurs can no longer afford to compete. As globalized entities take control, local economies tend to become a little rickety.
Security has become a top priority for most people when considering the banking sector. With identity theft becoming so prevalent and problems with privacy dominating the public sphere, it is amazing to continually see further stories of bank security breaches that appear in the media. From Canada to Italy, hackers threaten the stability of traditional financial institutions, compromising innocent customers in turn.
Because traditional banking entities act as central authorities for your money and your personal details, they are positioned as a goal to become a central point of failure. For hackers who try to maliciously attack banking systems, they only have to aim for an architectural technical point to weaken the whole system and violate its foundations.
If they are not hackers, corruption within the banking system worldwide also causes a certain level of skepticism for bank customers. With a recent coherent history of cautions and banking speculation, the general public is right to express confidence in these institutions. With opaque business practices and institutional processes underlying the industry base, the demand for transparency is becoming stronger.
So, how does Blockbank solve these problems?
Blockbank is stepping up to address these problems. Blockbank uses state-of-the-art technologies to tackle these problems head on, reopening the door to accessible commercial funding.
Blockbank loans are competitive
The most striking issue faced with commercial funding is high interest rates, which block access for the average person.
Blockbank's technological architecture allows Blockbank to offer commercial products at favorable interest rates.
Through automated services and an immutable ledger, Blockbank is able to cut intermediaries and reduce transaction costs by directly transferring these savings to loan applicants.
Blockchain increases security and transparency
While we are struggling for greater security, crystal clear transparency and unshakable privacy in the banking sector, we find hackers and malicious attacks that affect the technological banking solutions in today's world. From the inactivity of online banking to scammers and hackers, the leap into the secure banking sector is now more than ever necessary.
At its base, the blockchain is an immutable ledger of transactions. For the banking sector, exploiting this technology leaves a trace of incontrovertible verification that can not be tampered with. In the commercial loan process, this ensures that all transactions are transparent to both parties and are immune to malicious attacks.
The decentralized nature of Blockban's application by Blockbank further increases security as there is no longer a central point of failure. It becomes almost impossible for a hacker to break the system unnoticed.
In other words, blockchain provides evidence of all operations conducted with Blockbank. This prevents both parties from behaving in a corrupt or malicious way, while ensuring a perfect registration. By breaking the mold of the banking sector, Blockbank uses the blockchain to improve security and transparency for all those who use their global decentralized economy.
Smart contracts increase speed
and precision while
Blockbank employs smart contracts to execute all orders within the system. Suppose you are applying for an affordable, business-supported commercial loan, all assets are linked to smart contracts to protect candidates. Smart contracts will be executed automatically once the criteria of the contract are met.
Smart contracts accelerate the funding process as they are executed automatically. In addition, they increase accuracy and speed by decreasing human error – another devastating banking crisis.
The operation of intelligent contracts underlying the Blockbank services mitigates the need for intermediaries. This reduces costs ranging from exchange fees to those of third parties. This simultaneously reduces costs and accelerates the process of commercial financing.
The BBRT token economy allows global access
The BBRT token is a global payment mechanism that allows users to access Blockbank loans. As all commissions are paid in BBRT, the demand increases due to its limited supply.
Global access to loan products is often interrupted due to expensive exchange rates or the absence of third-party services that connect users. The decentralized nature of the token BBRT token means that users can pay deposits easily and economically using the token. Without exchange costs, BBRT allows users to access loans at no additional cost.
In addition, the token can be used as a payment mechanism among the participating companies, facilitating the operational logistics of the supply chain, while at the same time providing a path accessible to finance for all companies.
Blockbank solutions are custom made
Considering the problem of unbanked access, Blockbank offers solutions to help those who do not have access to banking facilities. Through Blockbank exchange and block the bank loan platform bbcl.io (allowing exchange with crypto-currencies and FIAT) and their direct transfer services to the merchant, Blockbank offers tailor-made solutions to help non-whipped companies.
When will Blockbank be launched?
BBRT will be available at The Blockbank Exchange. For loan applicants, commissions will be automatically exchanged at BBRT via The Blockbank Exchange, when fees are paid in BTC, ETH or FIAT.
Blockbank BBRT tokens will be available from LA Token Exchange.