UnbankedX(UBX)-Blockchain System for Convenient Bank Solution

Have you known a blockchain platform for convenient bank system? This is about it. There are no token offerings for international micro-financing. 1st Jan 2018, out of 126 banks, we could only find cryptocurrencies too generic or industry specific like migrant workers’ remittances. We participated in the Humaniq Global Challenge which was set up to unearth projects that were generating useful services, or to provide the ability to generate income remotely for people living in unbanked regions in the world using just a simple smartphone. UnbankedX was one of the winners of Humaniq Global Challenge 2017. Out of 600 ideas submitted ours were chosen to be the best and viable by Humaniq, a leading cryptocurrency company. Their aim is to harness blockchain technology and the rise of smart mobile devices to empower a market of two billion people who currently do not have access to employment and financial services across the world. Almost half the world — over three billion people — live on less than $2.00 a day . At least 80% of humanity lives on less than $10 a day. More than 80 percent of the world’s population lives in countries where income differentials are widening and all.

UnbankedX(UBX)-The Application

They use multi-blockchain model integrated with robust client/server cloud API infrastructure with redundancy. Application nodes are distributed to key countries close to the internet edge of target emerging markets. Their application strategy divides all blockchain platforms into two classes for the integration. Each blockchain will be linked to our API servers that can process a high capacity of API requests via HTTPS. We envision users interacting with multiple phone types – feature and smartphones, desktop hence the first layer will be user web interface. All data interactions will connect to a web server layer which will relay the information to our data exchanges with the blockchain and internal databases and systems and all. Bitcoin/Ethereum Mineable – For store of assets and smart contracting High transaction fee and Ripple / Stellar Non-Mineable – For fast payment processing conventional banking excludes them as they are considered not credit worthy. The cost of assessing credit risk and gathering the information does not justify the investment and resources. We made an effort to actually study our markets to valid their needs through an expedition to Africa in 2017. By combining blockchain, smart contracts, AI bots and mobile phone technology, we have developed the world’s first fully crypto robo financing platform. To ensure price stability and keeping costs competitive, we will not be dependent on just one blockchain but many. Even future ones not yet conceived. Our interface is easy to use on both legacy phones and the latest smartphones. We use web, mobile app, mobile web, chat bots, voice bots and text bots to great effectiveness. By eliminating expensive IT, branch and human costs in managing finances and with our multi blockchain automated cost switching, we have achieved the possibility of the lowest cost service ratio and product offering to our markets. UBX utility tokens are fuel for the generation of personalized credit risk assessment and financing disbursed through crypto and mobile money. Part of the reason why it’s so popular as a fundraising option is that because it provides an easier access to investors funds for entrepreneurs who might have found it difficult to launch their business ideas through traditional fundraising schemes such as IPOs where severe the regulations usually prevented them from meeting all the requirements necessary to even be qualified as a market participant, let alone to be attractive enough to be able to gather sufficient funds from investors.

UnbankedX(UBX)-Practical Scenario

Urban Entrepreneurship

In urban cities like Nairobi, many target users are involved in small scale enterprises (predominantly individual or family enterprises such as butchery, bakery, catering, vegetable growers or market vendors) or providing contractual services(driving services, cleaning and handyman services). Factors restricting startup of self employment enterprises or expansion of family enterprises

Bank requirements for documentation such as audited accounts, deeds of title for property ownership etc – are beyond the scope of these micro enterprises and thus they are locked out;
Prohibitive fees from other lenders or high transactions costs

Another large market is the drivers of the ride share market. In many emerging countries there are distinct lack of regular public transport services with many having to spend hours walking. People rely on share ride or motor cycle transport services and our research have shown many would undertake this form of self employment if they were able to afford a motor cycle which is a capital asset. Other examples encountered in Kenya include purchase of a greenhouse to complement existing vegetable growing activities. Our subject, relayed that the greenhouse would enabled the family to grow more vegetables (at more regular certainty) with which could enable the vegetables to be delivered to market. However, such enterprises are unable to obtain bank finance as amount is small but too large for other financing sources. Many micro-enterprises in Kenya accept and use m-pesa for payments however, many have indicated that if transactions costs could be brought down, this would also have a highly positive impact on the enterprise’s finances. Additionally, they also seek a system of payment that creates greater transparency and reduce the number of middlemen in the supply chain (e.g. livestock producers taking. However, with the easy access to investors funds comes a number of fraudulent activities where a group behind an ICO project suddenly disappears without delivering their promises and runs away with the raised funds. It’s not surprise, then, that people have mixed opinions on the practice of ICO. While the advocates are heralding it as an innovative way of collecting investors money, sceptics are dismissing it as a hotbed of ponzi / pyramid schemes. Not only people have mixed opinions on the ICOs, but countries too. Some countries ban ICO (and even shut down cryptocurrency exchanges) and others try to embrace this paradigm shift in the way in which startups gather funds. We will look at some of the best countries to start an ICO campaign. The analysis is based upon an independent research we’ve conducted on some of the most successful ICOs.