Bankex have announced that the Token Sale Event (TSE) of their blockchain based currency, BKX, will begin on November 28th. By using their ingenuity in the space, the company has developed proprietary fintech solutions to allow asset owners to more effectively monetise their underutilised stock on a pay as you go basis. The system is underpinned by the use of the BKX, so it’s an exciting sale to get involved in.
The intent of Bankex is to provide decentralised bank-as-a-service solutions that will help bridge the divide between traditional financial institutions and the emerging trend of blockchain currencies. By incorporating tokenisation alongside smart contracts, they will facilitate chain finance, the leveraging of external infrastructure, and off balance sheet crowdfunding. The services are anticipated to be invaluable in a wide range of sectors, including real estate, micro-financing, financing, natural resources, tangible assets and many more.
The Sale Details
During the pre-sale and private sale phases, over $10 million has already been raised. Having proven significant interest in the currency, the next stage is to open it up for all interested parties. The Token Sale Event will, therefore, be taking place between November 28th, 2017, and December 28th, 2017. During this time, anyone who wants to acquire BKX will be able to do so by using BitCoin or Ethereum at an exchange of 500 BKX to 1 Ethereum. There will be a cap of $40 million for investors contributing in all phases of the sale, and the total number of tokens to be issued will be limited to 400 million, with 220 million set aside for retrial investors.
Bankex has been developing partnerships with financial institutions to launch pilot projects and create proof of concepts, and have reserved a number of tokens for their institutional clients that, while they will be able to run the tokenisation protocol, they won’t be able to sell for the first year.
During the announcement of the TSE, the Bankex CEO said that,
'' We hope to have a transformative effect upon traditional finance and investment, micro-financing, real estate, as well as illiquid assets, natural resources, and derivative markets ''
The sale and use of the BKX will be overseen by US regulators, and all participants will be required to go through a detailed registration. No sensitive information will be required, but this process is necessary to ensure the viability of the sale. If you want to get involved, go to their website at bankex to find out more. Once the registration process is complete, you will receive instructions on how to proceed with the sale, including the addresses that funds should be sent to (via BitCoin or Ethereum).
Bankex have a number of experienced people involved in running the company and overseeing the Token Sale Event.
Their CEO, Igor Khmel, is a renowned fintech entrepreneur, with a strong track record in developing new products, bringing them to market, and the implementation of digital strategies. He earned his MBA from the Stanford Business School, and gained his knowledge by working at leading companies, such as Deloitte and Citadel, before setting up in his own. He was also responsible for setting up a fintech lab and innovation architects at Sberbank, which is Eastern Europe’s biggest bank.
All resources acquired, during our TSE, will be used to ensure the success of all stakeholders involved in the BANKEX project. We aim to be fully resourced and equipped to fulfil our mission statement and to ensure we continue to grow and expand upon our team of world class employees,” concluded Khmel.
Alongside Khmel are other industry heavyweights; including Sergey Sergienko, who set up Chronobank, Sasha Ivanov, who founded Waves, Nehemia Kramer, who has been involved with Ethereum since the early days. There are also a number of financial advisers, including Chris Skinner, an expert in financial market strategy, Gabriele Colombo, who is an Executive Director of the Symphony Foundation, and Peter Crampton, an eceonomics professor at the University of Maryland.
The team have forged relationships with various corporate partners to support the TSE from the start. They are working with Group-IB, a cyber security firm, who will help with the vetting of participants and ensure the sale goes to plan.
They have close ties with Balanc3, Microsoft, Dostavista (which is a crowdsourced delivery service with a presence in nine countries), the Symphony Foundation (made up of the top US banks), and the largest exchange in Russia, the Moscow Exchange. Bankex are also concluding further arrangements with top institutions in New York, California, Hong Kong, and Tokyo.
The company has been recognised on the world stage for their innovations, having been named by entrepreneur.com as one of the 9 top ICO’s to watch, and were ranked as one of the top 50 fintech companies in the world by Financial IT’s Pathfinder Ranking programme.
The BKX sale is an exciting opportunity to take part in the launch of Bankex’s plans, and to find out more you should visit their website, or keep an eye on their blog for further developments ..