What is BFex?
BFEX is a futuristic platform intending to become a bank for the un-bankable, giving back the power to the people whom it belongs to. What distinguishes our platform is that we have developed the 'Decentralized Social Trust Credit Scoring'. We believe in a world where people have equal access to financial resources, with the helping hands of the privileged groups. This is why BFEX was established. We create a platform which serves as a bridge between the privileged and the opposite side of the society. We're also making sure that our token utility will be sustainable, as we focus sustainable growth over profit, by launching the BPAY application. BPAY application provides a payment solution, allowing users to pay for goods and services from BFEX business partners across the globe.
The Problem: There is a limited access to financial resources globally, allowing informal debts and loan sharks to thrive, resulting in ceaseless cycles of debt worldwide with no effective solutions available. According to the World Bank Group, there are 1.7 billion adults globally who are unbanked. The most common reason is that they don’t have enough financial resources to open an account. Other reasons include distance barrier, lack of necessary documentation, and a high cost of ownership.
The Solution: The World Bank Group believes financial inclusion is a key enabler to reduce extreme poverty and boost shared prosperity. BFEX provides an easily accessible peer-to-peer lending platform, utilizing the efficiency, the security, and the transparency of blockchain technology with big data. Most importantly, unlike other lending platforms, the BFEX lending platform requires no credit bureau, allowing potential users from all walks of life a chance to build a successful credit portfolio while lending in a secure and fair environment with BFEX. This is made possible with BFEX Decentralized Scoring, which combines behavioral economics with machine learning. It comprehensively gathers users’ traditional and non-traditional information and analyzes them into a score.
BFEX APPLICATION: Peer-to-Peer Lending Platform: A lending platform which connects the lenders and the borrowers, allowing them to interact and agree on the terms and conditions of the loan, such as the interest rate and payment due date, all by themselves.
Project Team:
Token Details:
BFEX generates its tokens through ERC223 on the Ethereum currency platform, which is the most widely used and secure blockchain network. The BFEX tokens will be developed and used as the common currency for services on the BFEX platform. Utility Tokens are tokens utilized for purposes of payment for products and services via the BPAY application provided to users. BPAY Mobile Application: An application which allows BFEX users to utilize BFEX tokens as a form of currency to purchase products and services provided by our partners. Our users will receive privileges, such as cash back, from purchasing with our tokens.
Token BFEX
PreICO Price 1 BFEX = 0.3 USD
Price 1 BFEX = 0.5 USD
Platform Ethereum
Accepting ETH
Minimum investment 0.1 ETH
Soft cap 12,000,000 USD
Hard cap 36,000,000 USD
Country Hong Kong
Whitelist/KYC KYC
Verdict:
BFEX Tokens can be used to pay for goods and services with BFEX business partners. Not only will the business partners be able to grow and expand their markets through their partnerships with BFEX, BPAY users will also receive 50% cash back from the deals BFEX receives from its partners upon the payment made to BFEX business partners. This cash back will be transferred into the users’ BPAY accounts at the end of 4 each month. For instance, if a BFEX hotel partner offers 20% off from a hotel booking, BFEX will offer 10% cash back to its user while using the remaining 10% for business development.
Important links:-
Website: https://bfex.io
Whitepaper: https://bfex.io/pdf/en/bfex_white_paper.pdf
Telegram Group: https://t.me/BfexOfficial
Twitter: https://twitter.com/officialbfex
Facebook: https://www.facebook.com/BfexOfficial
ANN: https://bitcointalk.org/index.php?topic=3375492.msg35456988#msg35456988
Bounty: https://bitcointalk.org/index.php?topic=3384033.0
ETH: 0xCc538c6335203Cd2e771F27d12F4c90695366407
BTT: https://bitcointalk.org/index.php?action=profile;u=1495664
