"BABB" The World Bank for the Micro Economy. ICO LIVE.
BABB App Ltd. not so long ago, introduced a platform based on the Blockchain, acting as an application for smartphones. By the middle of this year there was a release, which was reported by the publishing house Coinjournal. At the moment, the company received a banking license, collected official documentation from the British FCA regulator.
The platform is based on the Ethereum smart contract, which reduces costs, improves transaction security and provides access to financial services for citizens and individual entrepreneurs.
Not everyone has direct access to bank accounts, credit or debit lines, but there is a need for transactions. BABB is able to solve this problem.
The financial system uses block and digital identification to create an endless global network that opens up the free participation of users, using personal social communication in contracts, buying and selling, exchanging digital money, providing financing and raising money to create a business enterprise.
- Creation and control of an account in the system;
- Regulation of finance (sending, receiving). The user can send funds to any account registered in the BABB, to other countries within a few seconds without commissions being canceled;
- Currency conversion. The user can exchange any kind of currency without the participation of an intermediary. This saves considerable time and money. For this purpose, they developed the "Black Card". This innovation was created to bridge the gap between virtual finance and real banking. Developers have secured a payment card that connects directly to a personal BABB account by QR code or an NFC tag.
- Personal financial account through the BABB platform
Access account for any person or legal entity, without regard to location and banking history. For example, to open a bank account in England with the help of BABB, you should provide the current documentation. If a person does not provide personal documentation, full access is opened by using biometric authentication.
- SEPA & UK Faster Payments
In addition to the usual cryptographic address, BABB Accounts created IBAN for translations in Europe and international banks, with account number and sorting code, in order to make national transactions in England. This facilitates the collection and placement of funds in financial infrastructures to maximize the functionality of the profile on BABB. This links certain financial systems that collect and withdraw money.
- Application for smartphones
With the help of the program for mobile phones BABB each user is able to register a bank account in a short time, without confirming his identity with documents to open a personal account. Legal persons and citizens control the personal currency in any part of the world if there is an Internet connection. BABB in itself includes the classic functions of financial institutions: money transfer, payment, cash deposit / withdrawal. In addition, the user is able to receive income from their own investments in the provision of peer-to-peer services: conversion and loan.
What benefits do people get from the application?
- Legal entities with developers
They can create an application with a connection to the BABB system. The integrated financial programs of BABB allow both freelancers and global corporations to reduce the cost of running their own business
- Central banking systems
Use of BABB technologies to introduce virtual finance in a regulated ecosystem. Individuals access the payment gateway and transfer funds to anywhere in the world.
- Users of the application
Each person is allowed to open a personal account in England. To do this, the BABB application is installed on the phone, a user account is created, and the passphrase for audio printing is read. The account gives access at low prices and a full range of banking services.
- Those who own tokens
Token BAX is the currency in the program.
BABB positioned itself from the very beginning as a "universal service for everyone", where biometric client authentication is implemented, "Big data" is analyzed and solutions are implemented through the introduction of the latest innovations. Users are given full access to a personal account, which in turn is encrypted and safely stored in the Blockchain. P2p eliminates intermediaries, providing the user with a complete list of banking services.