BANKEX and Peer-to-Peer Economy

We Do Not Need Third Party Interference!

Thanks to blockchain, software applications no longer need to be deployed on a centralized server. They can be run on a peer-to-peer network that is not controlled by any single party. These blockchain-based applications can be used to coordinate the activities of a large number of individuals, who can organize themselves without the help of a third party. Blockchain technology is ultimately a means for individuals to coordinate common activities, to interact directly with one another, and to govern themselves in a more secure and decentralized manner.

Instead of relying on a centralized parties to manage the network and decide what needs to be done and to whom, blockchain-based platforms are run in a decentralized manner.

For example, an ecommerce platform can rely on blockchain technology to ensure that buyers and sellers can interact directly with one another, without passing through any centralized middleman. Anyone is free to register a product on the platform, which will become visible to all users connected to the network. Once a buyer agrees to the price for that product, an escrow account is created on the blockchain smart contract to agree for the funds to be released.

BANKEX facilitates the emergence of new forms of assets tokenization, which are not only dematerialized but also decentralized. Blockchain technologies can support a much more cooperative form of crowdsourcing where users qualify both as owners and token holders of the assets to which they contribute. And since there is no intermediary operator, the value produced within these assets can be more equally redistributed among those who have contributed to the value creation of the token.

The main feature of BANKEX is the Proof-of-Asset protocol. It is an additional layer between blockchain infrastructure and real assets which aims to put additional transparency. Using this technology asset owners solve the issue of asset liquidity. In result, implementing Proof-of-Asset means that the token issued as part of the protocol is backed by an actual asset that is constantly tracked in automated way.

BANKEX technology makes it possible to replace the model of top-down hierarchical organizations with a system of distributed, bottom-up cooperation. This shift could change the way wealth is distributed in the first place, enabling people to cooperate toward the creation of a tokenized assets, while ensuring that everyone will be duly compensated for their efforts and contributions.