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BABB

BABB is the  bank for the microeconomy, providing individuals and businesses with a UK bank account, powered by . The account is managed via a smartphone app and provides access to a payment card.

Babb uses technology to bypass traditional banking networks and expensive 3rd parties to facilitate borderless P2P transactions across the globe.

In addition, partnerships with central banks allow for the integration and issuance of other digital currencies around the world, further stimulating local micro-economies and expanding the reach of the BABB solution and its underlying BAX token.[6][7][8]

Background

Babb was born in 2018 because it envisioned a financially inclusive world. It firmly believes access to basic financial services is a fundamental human right irrespective of who we are, where we come from, our background or income, and a right that is paramount to ending poverty and socioeconomic inequalities while championing democratization, shared prosperity, & fairness.[9]

Overview

BABB will redesign the economy from the ground up, transforming it from a rigidly hierarchical and exclusionary system into a decentralized and inclusive one. By combining blockchain technology, biometrics, and artificial intelligence, we are creating the future of banking, radically different from what the world has seen before.

The World Bank serves the macro economy, whereas BABB is the World Bank for the microeconomy. The ambition is a relatively simple one: everyone in the world should be able to open a UK bank account. The implications of a fully banked global society, however, are huge. This will be a global society of people using  to make deals, leveraging their social connectivity to make better use of their money.

BABB leverages blockchain, biometrics, and machine learning to offer revolutionary decentralized banking services for people across the globe. Regardless of background, location or income, BABB will offer a UK bank account to anyone in the world, helping increase financial inclusion and social integration, while also empowering local economies to generate wealth for themselves.

Babb aims to connect people and businesses to a frictionless new global financial system that revolutionizes the existing micro-economic ecosystem through advanced technological, social, economic, and regulatory capabilities.

By combining social connectivity with accessible banking (social banking), we are building a global banking network fostering international collaboration and inter-community engagement.

In essence, BABB is building a bank powered by the blockchain, operating a full reserve and integrating digital currencies all around the world.[1] [2][3][4]

Currency X

Currency is a bundle of that offers a trusted way to send remittances for very low fees. The Babb's are pegged to their respective FIAT currencies allowing users to send, receive, top-up and withdraw to FIAT from inside the app for free, cash out from their nearest local bank, or convert to BTC, ETH, & BAX.

The bundle of is here to make P2P transfers and trading platforms exchanges frictionless and hassle-free.[10]

Team

A few of the team members are;

Rushd Averroes - Founder / CEO

Jorge Pereira – CTO

Adam Haeems – COO

Dean Refaat - Head of Research

Leonard Seelig - NE Director

Ani Alexander - Head of Marketing

Partnership & Investors

Crowdcube 
Sygnum
Clear, Bank
LHV[5]

Roadmap

2018

  • The Start
  • The Initial Push

2019

  • The Backup Push

2020

  • Babb Remit Gets Regulated
  • The Babb App Gets Going
  • Babb Serves the Pandemic
  • Babb Expands Its Reach

2021

  • Babb Gets Connected
  • Babb Goes To Yemen
  • Babb Gets Approved by the FCA

2022

  • The Rise of Currency X
  • BAX Gets an Upgraded Contract
  • Babb Expands to Eastern Europe
  • Babb Gets Even More Connected
  • Babb Takes It a Step Further
  • Babb Improves Financial Security
  • Babb Setting the Trend[11]
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BABB

Commit Info

Edited By

Edited On

October 12, 2022

Reason for edit:

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