What Is (Babb) BAX?

Babb is a financial blockchain platform based in London (United Kingdom) that aims to bring accessible financial services for the unbanked and under-banked. Babb's mission is to become a decentralised banking platform that leverages blockchain, AI, and biometrics technology to offer anyone in the world access to peer-to-peer financial services. There are at least 2 billion people in the world without a bank account or basic banking services, and it is not viable for the traditional banking system to serve them. Babb is a new approach, using innovative technology to crowdsource financial services and completely removes the need for banks as we know them.

Babb is preparing to launch a distributed application platform where FIAT currencies are tokenized. These tokenized funds will be used by the Babb App, partner services, banks worldwide, as well as central banks in developing countries.

BAX is the lifeblood of the Babb platform and is used under the hood to operate the services of the platform across all the geographies and jurisdictions served by the platform.

BAX Tokens help make transactions borderless and are the key to taking back control of digital assets. BAX is a native utility token used for:

Fees for processing transactions and storing data.
Running validator nodes on the network via staking NEAR tokens.
Used for governance votes to determine how network resources are being allocated.

BAX is currently implemented on the public Ethereum blockchain as an EIP20/ERC20 token. The Ethereum blockchain is the industry standard for issuing custom digital assets and smart contracts and is compatible with the existing infrastructure of the Ethereum ecosystem, such as development tools, wallets, and exchanges. This active ecosystem and technology make Ethereum a natural fit for BAX.

What Makes Babb Unique?

Babb is on a mission to prove that Crypto isn't complicated and show that everyone can benefit from using more inclusive and efficient financial service platforms. Babb is on its way to obtaining a banking license to offer banking services with no restrictions, compliant with all the regulations in different jurisdictions.

Babb's unique vision for the future of banking is both radical and attainable. Babb will empower each individual and business within the micro economy by creating a decentralised, inclusive, and innovative financial system.

The Babb platform has vast growth potential. By maintaining a physical and digital presence, as well as implementing a natural viral growth mechanism, we expect to see exponential uptake throughout our target markets. The Babb proposition is infinitely better than the current offering across many different use cases.

How Many BAX Coins Are There in Circulation?

There is a total supply of 50B BAX where 49.84B BAX is currently in circulation.

60% of the tokens were distributed to our investors during the pre-sale and sale back in 2018.
20% distributed to the core team, advisors, early contributors and partners. This amount was locked in a year. 25% of this total were made available every six months.
18% of BAX are being held by the Babb platform reserve to maintain liquidity in all of Babb's operations.
The remaining 2% of the tokens were utilised as an incentive to our Babb community as part of our Bounty Campaign helping us keep our community engaged all the way throughout.

Who Are the Founders of Babb?

Rushd Averroes founded Babb back in the summer of 2016 intending to bring back financial power to those with limited access to banking services. Rushd was born in Yemen and moved to the UK back in 2009, where his experience with traditional banks (as an immigrant) weren't the most appropriate; since then, he decided to found Babb to empower not only the people with limited access to banking, but also those with no access to any financial infrastructure whatsoever.

The initial stages of Babb were set to build the main concept that later would become the working product; and for this, the Babb team came together and helped pull together the Initial Coin Offering campaign, where they raised over $19M worth in ETH in 2018. At present, the Babb team carries on building and improving the Babb platform which has been adopted by more than 150,000 people across the globe so far.\

Where Can I Buy BAX (Babb)?\

BAX can be found available for trading on a growing number of exchanges, with the following market pairs: BTC, ETH & USDT.

KuCoin.
CoinTiger.
Bittrex.
Uniswap.
Balancer.

New to cryptocurrency? Read CoinMarketCap's easy guide to buying Bitcoin or any other token.

Related Pages:

Get the Babb App on iOS and Android

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