Blockchain technology is all the rave of the moment and for very good reasons which include a revolution of the way financial transactions are carried out, and also the speed and safety of these transactions. Surveys and researches carried out by financial institutions suggest that in the not so distant future, more people will begin to embrace this technology and as a consequence it will find greater traction in financial industries, as a matter of fact, that time seems to be dawning upon us, as the Banknet group is set to leverage this technology to harness the potentials of the various financial industries.
Banknet is seeking to create an “ecosystem” that is going to be powered by the potentials of Ethereum. The team has set up an ICO (Initial Currency Offering) system that will enable the investors or buyers of their token to enjoy the more efficient transactions in the financial and real estate market. We shall be taking a look at their business model and how the platform will benefit its users.
Banknet Business Model
As previously highlighted Banknet is going to be leveraging on Fintech technologies and Ethereum smart contracts to create a more efficient platform on which various financial transactions will be carried out. Banknet has 4 main platforms, which will include; Banking, Real Estate, Insurance, and Financial services which are subdivided into cryptocurrency lending and cryptocurrency exchange. Let’s take a look at how they intend to operate in these various platforms.
The perks of blockchain technology include; increased transaction speed, elimination of human errors and transparency. Banknet is taking advantage of these features of blockchain to create a platform where banking institutions and individuals can carry out traditional banking services in a more efficient way.
Real Estate (BKR)
The real estate market has always been a buoyant sector and Banknet is seeking to further improve this industry by simplifying transactions thereby attracting more people to invest in the sector. Banknet will be tokenizing real estate properties so that they can be easily sold or traded on the platform. Banknet has a designated, qualified, professional real estate team that will be handling this platform and they will be getting benefiting from this platform by the commissions they charge on transactions that are completed on this platform.
Also by using blockchain technology and Ethereum smart contracts, Banknet will be providing a platform that will help simplify the cumbersome insurance process and would allow people to be able to buy the most attractive insurance policies on the platform without all the paperwork involved. This will also help insurers cut down on the cost of running their business and also greatly reduce errors that occur in the system.
Taking advantage of the global acceptance of cryptocurrencies, Banknet will be creating an ecosystem where cryptocurrencies can be traded in exchange for cash and other cryptocurrencies independent of any intermediaries. Also, owners of their tokens will be able to get loans in the form of cash by putting up their tokens as collaterals.
It is also advisable that prospective investors keep a keen eye on the BKIX Stabilization Index which is a tool designed to keep the BKU token price stable in the exchange market. The Index measures the value of the BKU token against the value of the top cryptocurrencies in the market.
These various services and platforms set up by Banknet are set to change the way transactions are being done as we know thereby offering holders of their BKU tokens the opportunity to make great profits as soon as they the begin trading. You can go on their website www.banknetico.com to find out more information about Banknet or also take advantage of the opportunity by bidding for their tokens.