Bankex is a “Fintech” startup company combining Bank-As-A-Service, Proof-Of-Asset Protocol, and Blockchain technology to bring you the most secure way to trade, exchange, and buy retail goods. Items like cars, jewelry, real estate, and home furnishings can now be bought with the help of cryptocurrency algorythms! Bankex and other similar companies have now “bridged the gap” between cryptocurrency and retail sales.
Private sales of high priced items began involving more and more exploitation of the federal court system to step in on someones behalf. Bankex eliminates the possibility for court involvement when people sell their items irresponsibly in the eyes of the law.
It’s now possible to purchase a car, boat, house, timeshare, and more, and never have to worry about dangerous risks attached to the seller coming back to haunt them.
As an example, the seller could be facing future bankruptcy proceedings, or legal battles resulting from criminal behavior. These “problems” should never fall into the lap of innocent shoppers searching for items to purchase on the Internet. And by using Bankex or other ethereum based shopping initiatives, you can be 100% SURE you’re buying safely!
But statistics have shown far too many instances where legal proceedings CAN AND DO end up conflicting with buyer/seller agreements. And when a ruling of a court is passed, unsuspecting buyers can be forced to overturn the items they just purchased! Then, have to go through the painstaking process of waiting for a refund to be dispatched from the court by process of law. This can take weeks, or even months!
Bankex solves all this! https://bankex.com/en
How The Bankex Process Works
Using a security check for every item being converted into a token, Bankex checks the item for involvement in scams and fraud. Bankex also performs an Originator Background Check (Criminal Record, etc.) The location of the item is also listed and documented.
International delivery terms, conditions, and tax rates are appended to items for sale within the Ethereum contract. For example, not every company that lists items for sale on Bankex can make deliveries. Bankex can filter out companies who can’t deliver, and list only the available suppliers who can. Bankex allows for more accurate searching through “keyword and tag” based results.
Each product is assigned a token in the ethereum blockchain. The token is then “deposited” into the marketplace for sale. The token contains tags, and is auto-assigned it into it’s respected category or series of categories that match the product description. It can then be found through customer product searches, and tracked by Bankex for supply and demand purposes.
Items can be bought buy a single buyer, or multiple buyers, within the Bankex marketplace. And with the App Balance accounting app, you can keep track of your Bankex finances and balance.
The best part is that unlike traditional bank account and debit card sales, the ethereum blockchain technology adds much more security and control. Every aspect of the sales process is inspected for problems, continuously, until the sale is finished.
It’s totally cutting edge!
More Benefits Of Bankex
Assets are made immune to the consequence of seller bankruptcy, as well as other counterparty risks. Instant audit ability and continuous verification during all stages of the sales process identify issues immediately. So, if and when an issue is identified, the sale can be terminated before the transaction actually takes place. This saves buyers and sellers the stress of sales “gone wrong”.
Bankex is already linked to a single, standardized source of buyer/seller information called Blockchain. Bankex simply taps into Blockchain and strengthens the current “info file” with information added from each sale.
Multiple buyers can “put in” to purchase and posses a portion of an item (with ownership spanned across multiple parties, like investing in stock). Or, a single party may pay for the entire item in a single purchase, resulting in the sale of the item in its entirety.
Bankex tokens are ERC-20 resellable. That means you can transfer your tokens to wallets that support the ERC-20 standard. Some Ethereum wallets include MyEtherWallet, MetaMask, Mist, Parity, Parity + Ledger, and more. Both software and hardware wallets are available supporting ERC-20 tokens.
For an in-depth look at the internal dynamics of Bankex, check out the BankEx whitepaper https://bankex.com/en/whitepaper
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