BELOBABA is web3 banking

We are already in 2024, blockchain technology is getting closer and closer to all types of sectors. Companies of all types use it, for all types of processes, and also the web3 banking is coming…

BELOBABA, which began as a blockchain training school, has, more than ever, followed the "blockchain path" from its birth to this day.

Do not forget: BELOBABA has had historical milestones, which must be mentioned and that perhaps many people are unaware of, such as having created the first regulated Hedge Fund for decentralized finance.

But we don't want to stop there, there is much more. Let's first learn some of the applications that blockchain technology can offer to the financial sector, to new generation banks, called neo banks, and then explain a little more about the milestones that BELOBABA faces.

Some potential applications of blockchain technology in new banks by web3 include:

Enhanced Security: Blockchain technology can provide new banks with robust security measures by offering cryptographic protection, decentralized data storage, and smart contracts for automatic execution of transactions, reducing the risk of data breaches and fraud.

Efficient Payments and Transfers: New banks can leverage blockchain for instant payments and money transfers, challenging traditional systems like SWIFT for cross-border transactions. By connecting directly with other institutions on a blockchain network, new banks can streamline payment processes and reduce reliance on intermediaries.

Cost Reduction: Implementing blockchain in new banks can lead to significant cost savings by eliminating inefficiencies across the organization, reducing the need for intermediaries, and enhancing overall operational efficiency.

Streamlined Processes: Blockchain technology can streamline various banking activities such as clearing, settlement, underwriting, and transaction processing by providing secure and efficient peer-to-peer data distribution, ultimately improving speed and efficiency within new banks.

Improved Customer Trust: By utilizing blockchain's decentralized nature and transparent ledger system, new banks can enhance customer trust through increased security, reduced fraud risks, and improved transparency in financial transactions.

Identity Verification: Blockchain technology enables new banks to implement robust know-your-customer (KYC) solutions by ensuring verified identities within the network through cryptographic protection and shared information among network participants, reducing the need for intermediaries in handling data distribution.

BELOBABA under web3

After the training school on blockchain and the first fund created, in reference to decentralized finance, via a security token fund, BELOBABA is taking another big step.

This step has two very interesting verticals, but already complementary, uniting traditional finance (TradFi) and so-called decentralized finance, these, in their two aspects, such as DeFi and CeFi.

Private banking for everyone, people and companies.

The first point to take into account is the consolidation of a revolutionary neo bank... since as a banking application, we will offer multi-continent checking accounts.

This means that anyone in Europe will be able to open accounts in the United States, in USD, in Panama, in USD, but also in Europe, with a European IBAN, among other current account possibilities.

But not only Europeans, people from LATAM, for example, will also be able to open several of these checking accounts, via the BELOBABA app. And other continents? We are also working so that we can offer it, of course, and it will be so.

A current account will also be operational in Mexico, in MXN, the local currency.

All current accounts, complying with regulations, and also complying with regulations and legality, the linking of an associated debit card.

Fiat to fiat, to be able to pay in any global business that accepts the card, which will occur in practically all countries.

VASP license and associated crypto services

With the regulation on crypto assets, approved for BELOBABA already in 2023, we offer OTC services, allowing 23 FX, international currencies, to acquire crypto assets, such as BTC or USDT and many more will be expanded over time.

Of course, SWAP is also now available, between fiat and crypto currencies.

We are also already in the testing phase of our crypto exchange, giving the VASP license coverage for it, so once it is opened, and there is soon, we will have the possibility of crossing crypto with crypto, and different types of products and services around it.

Another possibility will be an on ramp, so that cryptocurrencies can be converted into fiat money, using the same card, for interested clients, individuals or companies.

BELOBABA another milestone…

We are therefore offering two verticals, the current accounts, but multi-continent (something very new for people from many countries) with the crypto assets vertical, therefore being the spearhead, once again in innovation.

Therefore, BELOBABA will follow its roadmap, linked to the blockchain.

GKHAN

Additionally, and linked to everything, our BBCN token is going to be converted to GKHAN, which is launching on the Polygon blockchain. The utilities of the token around the two verticals will enhance our project. We are not promoting the token, but rather commenting on the fundamentals it will have, so we think it will be robust and worth taking into account. Obviously, everyone with their money will invest where they consider (DYOR).

GKHAN, as it could not be otherwise, will be listed initially on our own exchange, the BELOBABA exchange.

BELOBABA, as the title of this article said... really use web3 for crypto and banking.

This content is for informational and educational purposes. There is no consumer protection. Your capital is subject to risks. It is not a recommendation to buy or sell any asset/indexes/FX/commodities or crypto asset. Please do your own research (DYOR) or contact your trusted financial advisor.

Jesús Sánchez-Bermejo

BELOBABA