BiteX: The First Locally-Embedded Crypto-Bank
Introduction
Blockchain is a decentralized general ledger. It is a computer network that has an identical copy of the database and changes its status (records) to a common agreement based on pure mathematics. All this means that there is no need for any central server or any entity we trust (e.g. central bank, notaries, banks, paypal, etc.). The blockchain is the technological basis for all cryptocurrencies, whether Bitcoin, Ethereum, Hyperledger, etc.
An important part of the blockchain is the smart contracts, a piece of code that is stored in the blockchain network (in each participant's database). It basically defines the conditions to which all parties using the contract agree. Therefore, if the required conditions are met, certain actions are executed. Because the smart contract is stored on all computers on the network, everyone must run it and get the same result. This way users can be sure that the result is correct.
Blockchain and Smart Contracts open many doors to new decentralized businesses and eliminates the need for expensive third parties. Many new companies are now working on this technology, and large companies are testing it in closed networks to collaborate directly with each other without the need for intermediaries. For that reason, there is a lot of projects that are starting to use this new technology. However, not all of them are worth it. We have to read well what each project is dedicated to, what is its whitepaper, its qualified advisors, etc. As I said, blockchain technology has gained popularity due to the hype about cryptocurrencies which has shaken many startups to launch their own cryptocurrencies even without convincing fundamentals. This trend has emerged because new entrants have been more agile in adopting emerging technologies compared to incumbents who are hampered by legacy systems. However, this competitiveness and this advantage enjoyed by the new players may be short-lived, as no economies of scale are taken into account.
For this reason, I want to introduce you BiteX (XBX), accessible financial services for the economy of cryptocurrency.
Definition
As I said, BiteX (https://ico.bitex.global/) is a new cryptocurrency project that will provide approachable financial services for the cryptocurrency economy, throughout hyperlocalized crypto-banking services through its global platform to promote efficient growth across multiple continents, with a predominant focus on Asia.
Goals
The main goal of BiteX is to create the first locally-embedded crypto-bank exclusively for Asia. By developing a mechanism to encourage the adoption of Bitex services, Bitex is able to offer more local services to its users while increasing the supply of merchants.
Features
- Customer service, user experience and government that is located
- A digital wallet compatible with ERC-20 to securely store balances in a customer's cryptocurrency on a personal mobile device.
- The possibility of using the mobile wallet with a virtual debit card for payments, exchanges and transfers.
- Various point-of-sale solutions for merchants to accept payments in their local currency from consumers.
- Currency exchange between the G20's fiduciary currencies and several popular cryptocurrencies
- Large-scale payments from company to company
- Personal loans.
Bounty program
The project gives the opportunity to earn BiteX Tokens performing some social media tasks and doing simple steps from the bounty program explained into the following Bitcointalk Webpage here (https://bitcointalk.org/index.php?topic=4328485.0), where you can access the link in order to see what are the conditions to become an early XBX contributor and start acquiring tokens.
For more information about the project, you can visit and read their WhitePaper available here (https://ico.bitex.global/docs/XBX-Token-WhitePaper.pdf). You can also stay tuned in their official Telegram Channel (https://t.me/Bitex_Global_Ico_Official) or in their ANN thread here (https://bitcointalk.org/index.php?topic=3651047). I hope you liked the post and soon I'll send you new ones.
Do not forget to visit their Webpage (https://ico.bitex.global/)!
Token details
The official token of BiteX is XBX, a utility token based on Ethereum smart contract technology. XBX will be used for access to the services offered by the Bitex platform.
<p<Moreover, XBX token utilizes a unique design that not only powers the banking infrastructure but also rewards user loyalty while cultivating a robust developer ecosystem.Token: XBX
Platform: Ethereum
Type: ERC-20
Pre-ICO Price: 1 XBX = 0.5 USD
Price in ICO: 1 ETH = 330 XBX
Tokens for sale: 210,000,000
Token distribution
Roadmap
| Date | Events |
|---|---|
| Q2/17 | Bitex Business project structure constructed. |
| Q3/17 | Company Registration Bitex Global Co., Ltd.; Company registration and beginning of development work on: Holding Wallet; XBX Token (ERC-20 Protocol); Trading Wallet and EZBitex platform; Mobile App (Android and iOS); BitexPay and "Powered By Bitex" software kit. |
| Q2/18 | Beta test and launch EZBitex Platform V 1.0 with Trading wallet, Payment wallet and the Holding Wallet; Mobile App EZBitex; Upgrade of security structure and support center. Company Registration Bitex Global Singapore Co., Pte. ; Company Registration Bitex Global Thailand Co., Ltd. ; Registration Process of Bitex Global U.A.E Co., Ltd. ; Registration Process of Bitex Global India Co., Ltd. ; Registration Process of Bitex Global Philippines Co., Ltd.; Registration Process of Bitex Hong Kong Co., Ltd. |
| Q3/18 | EZBitex Platform V 2.0 with BitexPay and Powered By Bitex & Savings Wallet; Bitex B2B and B2C payment platform and BitexPay Merchant App with GPS locator and BitexPay Merchant App Kiosk. Registration Process of Bitex Global Japan Co., Ltd.; KRRegistration Process of Bitex Global South Korea Co., Ltd. |
| Q4/18 | EZBitex Platform V 3.0 with Loan Wallet. BitexPay Module and POS; BitexPay API key develop and bug testing; "Powered By Bitex" card; BitexPay API key Release for corporate payments. |
| Q1/19 | EZBitex Platform V 4.0 - API based Card and its integration for POS (via Bitex API). |
| Q2/19 | BitexPay Escrow Account V 5.0 - Payment Gateway implementation. |
Author Details
Email: [email protected]
Telegram username: @clauming
Bitcointalk username: adriaparcerisas
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1870482
Ethereum address: 0x91707502A8DFDC523f7a6f2c218cC9a52777d5ad
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