BFEX - The First Decentralized Social Trust Credit Scoring

PRESENTATION

The buzz about cryptocurrency is increasing, people have heard about it, and more and more people want to find more about it, and find a way to be a part of it. When blockchain technology came, so many things changed, for better, we say. So many businesses have improved, so many companies have started using crypto currencies in their work. The new ideas are coming every day. People want to invest in the new projects. We have the biggest tool in the world, and it is called the Internet. The internet is a enormous base of information where we can do anything. Internet has connected the entire world. One of these projects is BFEX, a futuristic platform intending to become a bank for the un-bankable, giving back the power to the people whom it belongs to.

Check out this video presentation

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.

BFEX is a social enterprise with a personality and a vision to create a world with seamless financial accessibility. BFEX mission is to provide equal financial access for all by developing a more widely accessible financial platform, and in turn, disrupting traditional financial institutions. While the vision is to develop a sustainable financial system where people can freely access the financial pool needed to improve the quality of their lives and contribute positively to society.

Vision

Our vision is to develop a sustainable financial system where people can freely access the financial pool needed to improve the quality of their lives and contribute positively to society.

Mission

Our mission is to provide equal financial access for all by developing a more widely accessible financial platform, and in turn, disrupting the traditional financial institutions. BFEX aims to utilize blockchain technology, big data, and Decentralized Social Trust Credit Scoring (DSTCS) to decentralize peer-to-peer lending experience.

BFEX aims to achieve the three following goals:

To develop credit scoring system for nano-finance industry based on Trust-Based Banking by Muhammad Yunus who received the Nobel Peace Prize in 2006. An imminent part of his concept is “We can remove poverty from the surface of the earth only if we can redesign our institutions - like the banking institutions, and other institutions; if we redesign our policies, if we look back on our concepts, so that we have a different idea of poor people ”.
To develop a lending platform for nano-finance via decentralized peer-to-peer lending. The terms and conditions for lending and all the business transactions linked to the data on DSTCS.
To develop the BPAY E-Wallet payment system. 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.

BFEX FEATURES

1st Decentralized Social Trust Credit Scoring

BFEX - The first system in the world to create a hybrid credit scoring system on blockchain. BFEX-Decentralized Social Trusted Credit Scoring is a mixture between social network behavior validation and verification of the official documents.

100% Decentralized Credit Scoring

BFEX - DSTCS is the system on a decentralized blockchain. The borrowers and lenders collaborate in the design of BFEX - DSTCS. Credit scoring system designed by user.

100% KYC

We have an fully KYC system for both borrowers and lenders. Our KYC system is transparent and verifiable, which store on blockchain.

Anonimity & Privacy

BFEX - DSTCS system design in decentralized network with transparency by showing the user's credit score. So, BFEX not publish the user's photo, real name and surname on our lending process. The lender considers the credit score as significant.

Turn your Social Network into a score and earn money

Cash back your every pay

BPAY is seamless e-wallet, which you can use with every merchat in our network by BFEX token directly. All your spending will be counted as credit scores and get paid every 1-5% at the end of the month.

HOW BFEX WORKS

While banking institutions are restricted under traditional loaning system, BFEX is determined to develop nano-finance services to meet the consumers’ demands worldwide.

Everyone can join

A specially designed DSTCS * system. Most of people are more easily to access to a loan better than an old way.

Blockchain & Smart Contract

The system is transparent and high security by using Blockchain and Smart Contract to secure trust and confidence for all users.

Set your own interest rate

Users can offer interest rates on your own, both the borrowers and lenders. The loan amount and interest rate range in your can offer, will be determined by the system.

Cash Back 1-5%

BPAY wallet can pay for utility bills, including BFEX strategic partner stores such as hotels, restaurants etc. Every spend through BPAY will pay 1-5% at the end of the month.

BFEX ICO DETAILS

Token: BFEX

Platform: Ethereum

Token Price: 0.5 USD

Token for sale: 105,000,000 BFEX

Token supply: 210,000,000 BFEX

Soft cap: 12,000,000 USD

Hard cap: 36,000,000 USD

Accepting: ETH

Restricted countries: No restrictions

BFEX MILESTONE

Q2 2018

Pre-sale

Q3 2018

Public sale

Listing on exchanges

Q4 2018 - Q1 2019

P2P Platform Development

BPAY Development

Q2 2019

Alpha Test

Q3 2019

Beta Test

Q3 2019

BFEX Official Launch

Q4 2019

API Connection with 3rd Party

Q4 2019 - Q4 2020

P2P Lending Platform (Fiat currency integration)

BFEX TEAM

FOUNDERS

Daniel Jaeger

Co-founder

He has over 10 years’ experience in implementation of complex financial systems around the globe in all industries such as banks, pharma and services.

Joseph Swartz

Co-founder

He has over 10 years’ experience in implementation of complex financial systems around the globe in all industries such as banks, pharma and services.

Person3

Sam Roberts

Technical co-founder and CTO

Sam is a seasoned IT Executive, Technology Strategist, and Digital Workplace Engineer with experience leading transformations within companies of every size

BOARD OF ADVISORS

Wilson Thong

Advisor

He has over 10 years’ experience in implementation of complex financial systems around the globe in all industries such as banks, pharma and services.

Huan Johnson Koh

Advisor

Johnson is not only the CIO of theAsianIR and the founder of Inproved, he is also a board member of two IPO companies. He has over a decade of…

Shankar Biswas

Business Advisor

Shankar has over three decades of experiences in business management, consumer finance, and investment and retail banking. He was one of the founding…

Kaushik Bhaduri

Technical Advisor

With a Bachelor’s in Physics and a Master’s in computer engineering, Kaushik worked for Microsoft Corporation for over two decades in Redmond. He adorned various…

Nilanjan Banerjee

Technical Advisor

Nilanjan completed his doctorate degree in theoretical computing from Texas Arlington University in the area of distributed networking. He was a senior researcher…

Irin Chunsuntorn

International Business Development

Irin is a new youth talent who has experiences in marketing with an international government sector and one of Thailand’s biggest PLC. Her intercultural communication

Be a part of this incredible project. Download the whitepaper for the full scoop.

Till next time…

For more information, please visit:

WEBSITE: https://bfex.io/

WHITEPAPER: https://bfex.io/pdf/en/bfex_white_paper.pdf

ANN THREAD: https://bitcointalk.org/index.php?topic=3375492.msg35456988#msg35456988

FACEBOOK: https://www.facebook.com/BfexOfficial

TWITTER: https://twitter.com/officialbfex

MEDIUM: https://medium.com/@bfexOfficial

REDDIT: https://www.reddit.com/user/BfexToken

GITHUB: https://github.com/bfexofficial

TELEGRAM: https://t.me/BfexOfficial

Author: TheMichaelMatch

My BitcoinTalk Profile: https://bitcointalk.org/index.php?action=profile;u=1326035

Disclaimer: This article was published in terms of the bounty campaign. I am not a project team member or its representative but a supporter of this incredible project