Financial Service Is a Basic Economic Right and Not a Privilege

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“A blockchain driven fintech platform with a mission to enable access to basic financial resources for all”

The idea of basic right could range from one thing to another to different groups of people. One might say ‘freedom of speech’ and another might say’ right to vote’. Another basic right that, little that we know, is being omitted from many people in the world that we live in is ‘financial inclusion’

One of the major problems, observed by The WorldBank in 2017, that leads to unequal access to the financial resource is the lack of an adequate amount of money. Another prominent root cause to the ceaseless financial inequality is an irrelevance to their lives or not enough inclusion. The problem of the unbanked is not only under-acknowledged but also a persisting problem that doesn’t die down because of the traditional way of the banking system. As the world itself is being directed towards the technological advancement and smartphones are becoming more essential in our routine, BFEX (Bank Future Exchange) sees the opportunity in the changing world trend.

Digitising loans and payment utilising Blockchain technology via BFEX’s platform would enable transparency and trust, fast operation and convenience, and cost-effective transactions.

BFEX’s Peer-2-Peer lending system allows access to nano-finance for people who are not receiving the chance to step into the bigger digitalised economy.

BFEX’s nano-finance doesn’t limit the possibility of account ownership with a specific amount of money instead, your possibility of repayment would be the measurement. While others restrict their users with Credit Bureau and biometric identification, BFEX innovates a new system to facilitate the P2P lending platform. This difference from other platforms lies in the Decentralised Social Trust Credit Scoring (DSTCS); a social credit measurement algorithm in BFEX’s platform that motivates people to become more financially responsible.

Financial inclusion indeed doesn’t only consist of one perspective; ownership of a digitalised account. Making financial transaction become more relevant in users’ routine, whether personal or business, includes platform’s dependability and cost-effectiveness. BPAY Application offers customers and business partners a value proposition platform that will allow smooth payment solution, with BFEX tokens. Our business partners will gain access to a wide customer base provided by the BPAY application and our customers receive privileged deals from our partners.

Precisely, one could say, that BFEX intends to become a platform to facilitate new users who have never been ‘digitally banked’. The user experience should be pleasant and convenient, for they can harness the power once controlled by the centralised system; and regain their basic right. The right to access digitalised economy and financial resource, as well as the right to become fully included in the economy via BFEX’s platform.