AMA RECAP: BlockX Infrastructure in the Fintech Era. December 2, 2021.
Digital Assets Settlement and Payment on BlockX Network is fast gaining traction within the cryptocurrency space as well as the DeFi ecosystem as a whole. To further enlighten the entire crypto community on the strategic value that asset tokenization places on the financial sector, BlockX recently had an “Ask Me Anything’’ session on Youtube. The session’s specifics are listed below.
Attendees
The AMA session was packed with the key members of the BlockX/Tokenizer team, among those who were present are Manindra, the CEO of BlockX/Tokenizer, Benjamin Pacheco
— head of the blockchain at BlockX, and Seth Keller
— the Director of Investment at BlockX/Tokenizer. The session was the second in the series of BlockX AMAs. The session was anchored by Davide.
Notably, the session covered different points of discussion about the BlockX network
and the Tokenizer platform
and how both work hand-in-hand to create a robust ecosystem for individual and corporate users.
Full AMA Recap
On the description of the full functionalities of the BlockX, Benjamin Pacheco gave a detailed walkthrough. He explained the full range of features covering Digital identity, digital wallet, smart chain compliance, the elaborate marketplace, and asset tokenization.
According to Pacheco “The BlockX network can hold the digital identities of investors. This is useful for KYC and it holds the identities of not just individuals but also corporate entities.As a result, they can store the status of blacklisting or whitelisting in the Blockchain. For example, if you are a service provider and want to know the status of a company before investing, you can look it up.
He further detailed that “you need to have a digital wallet to store your assets. Their on-chain digital wallet is already integrated into the BlockX chain. It helps us offer more options and services to their users”.
Pacheco’s explanation also demonstrated that BlockX’s Smart chain compliance is related to digital identity because it aids in the incorporation of business rules into the smart contracts of any chain listed on BlockX. Furthermore, BlockX has its own marketplace, and it intends to provide a place for platform users to access personalized services, similar to the NFT or trading marketplace. Because BlockX has its own established blockchain and ecosystem, it is only natural that it establishes and powers its own trading system.
For asset tokenization, BlockX powers the Tokenizer platform, which helps with the tokenization of assets of value so that they can be easily traded. You can easily transfer ownership as opposed to having to sign documents and pieces of paper, which is cumbersome when it involves transfers to hundreds of people. BlockX is powering an easy and liquid securities system.
When asked on who the Primary Customer targets are, Pacheco responded;
“Their targets are not just investors and regular users. They want to partner with organizations, financial institutions that will provide digital banking to their users as well. They are connecting decentralized finance with centralized finance. That is why it is important to us to have KYC and compliance services because they will offer centralized finance services in the BlockX network as well”.
During the course of the AMA session, questions were raised about the essence of the Tokenizer platform and what its mission is?
In response, Seth Keller, the head of investment at Tokenizer gave a robust explanation. He explained that Tokenizer is the infrastructure of the emerging tokenized asset ecosystem. There is a new wave of tokenization, and it is basically bridging private market securities and making them more available to everyday investors and making them more liquid. Tokenizer is tackling the core issue in the private market now which is the lack of liquidity.
If you have security tokens of private assets, they will be tradable on the Tokenizer exchange. Essentially, Tokenizer will take the issuance of a fund. This ranges from real estate, venture capital, to hedge funds. Tokenizer raises capital from investors and other individuals and those investors receive security tokens that will represent their ownership interest in that fund with the tokens directly backed by real assets. Once obtained, security tokens are tradable on secondary exchanges.
On Tokenizer Offerings, there is currently a long list of offerings on the Tokenizer platform. They include a few hedge funds, venture capital, buffer note, and real estate offerings. Asset tokenization will become a more accepted term in the near future — over the next five years. Tokenization will become a much more accepted term just like blockchain and cryptocurrency.
Moving to BlockX and how it ties to Tokenizer, panellists generally agreed that there is no chain right now that is focused on security token offering and digital asset security. This is the main advantage with BlockX as it is the primary focus of the BlockX chain.
“The overall vision is to create a platform where you can just log in and see your securities portfolio and trade all in one platform. That is the vision down the road — to have a diverse tradable security token offering platform”.
How does the BCX token interact with the Tokenizer system?
This is in relation to the scalability and cost-benefit efficiency of BlockX. BlockX is an ecosystem in itself; It is a layer 1 protocol. The advantage over ethereum is that it is cheaper and the cost of tokens is cheap as well. The gas fee is cheaper as it is paid in BCX. It is also faster than ethereum. BlockX is a collection of different chains, with each being a smart chain on its own. It will eventually host bridges for users to transfer their tokens from one chain to another.
Along with the structured questions raised during the AMA, listeners also asked questions. A list of these questions and the response given are detailed below:
How Developed is the mainnet and when will it likely launch?
They are currently on the testnet. They have to test a lot of things like the number of people and transactions the platform can hold. But they are looking to the first quarter of 2022 to launch. There are no hard deadlines here. If they find that there are no bugs and everything is working okay, of course, they can switch to the mainnet.
Which partnerships have been established so far for Tokenizer or BlockX?
They already have an established partnership with Mbanq to build a decentralized banking platform in partnership with Mbanq, KYC platforms, funds, and fund managers they are listing with. Furthermore, BlockX has already signed partnerships with Launchpads & Exchanges, including Exmarkets, p2pb2b (and many more coming up). IBC Group is bringing to their network the necessary wealth of knowledge and expertise in marketing, growth hacking, tech, legal & capital raising to ensure a successful Token sale.
Are there any delegators or validators yet? What is the procedure involved?
There are only a few just yet and they are working on partnerships that cannot be disclosed just yet. But if you are interested in becoming a validator or a delegator feel free to sign up here.
Do I require physical hardware to be a miner?
You do not need any new hardware to be a miner on BlockX. You only need a server and a certain amount of BCX since it is a DPOS system. Full details on
Will I be able to list my personal assets?
The answer is Yes. It will be through Tokenizer, powered by BlockX. But this is dependent on the type of property. Only commercial properties are allowed on Tokenizer.
To watch the full video, be sure to click this link
Participate in the Blockx End Sale Round
Following the successful completion of their Initial Exchange Offering seed sale first round on Exmarket, they are pleased to inform you that the round is Sold Out. However, they will be commencing a private sale round on their website very soon. They invite interested participants to check out their website to get started. The end sale token price commences @0.15 USD per BCX token + a 20% bonus. Tokens can be purchased using $BTC, $ETH, and $USDT.
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