On March 6th, Chronobank.io CEO Sergei Sergienko visited our office in Moscow. He met with BANKEX CEO Igor Khmel and the team. Here are the main points of their conversation.

Blockchain trends to watch out for in 2018

“The projects that integrate offline, off-chain and traditional financial industry into the crypto-world will become giants in the future. They are the next Apple or Google. ” — Igor Khmel.

Both Sergei and Igor believe that the hype surrounding cryptocurrencies in 2017 is over, and 2018 is a time for blockchain-based companies to move forward, from slogans to actions. As Sergei pointed out, “the rise of cryptocurrencies in 2017 was cool, but unless you are able to tie it to something understandable to people from the traditional economy, it will be useless”. Chronobank is going to bring fiat money into the crypto world and to build bridges between traditional sectors and crypto economy by tokenizing the work time essentially.

To quote Igor, “BANKEX and Chronobank are working in different ways, but reaching the same goal of bringing crypto and ICO to off-chain industry.”

The founder of BANKEX just came back from one of the biggest financial conferences in the US. The blockchain technology is an exciting topic and it is discussed enthusiastically throughout the event. According to him, by the end of 2018, $750 million will be invested into the blockchain, which, consequently, will be further embraced by traditional businesses

The technological evolution BANKEX brings to off-chain businesses in 2018

“BANKEX has foreseen the integration of blockchain into traditional sectors, and we having been working on it since the first day.” — Igor Khmel.

Today BANKEX has a strong client base: for example, our team is building two tokenization platforms with different partners based on BANKEX’s infrastructure. One of them is Moviecoin, which will be officially announced in May during Festival de Cannes. The other one is about “green metal” production. Moviecoin is a platform that tokenizes the production of movies and makes investment in the film industry more accessible to a broader range of investors. This project is a collaboration between our team and major Hollywood producers. This class of assets didn’t before. “We are the first ones to create this asset class”, says Igor. It is expected that Moviecoin will attract billions of investments in the up-coming few years.

Sergei believes that Moviecoin will be a great platform where independent movies will get funded and it is simply awesome.

“That’s what blockchain does — gives new opportunities to people and businesses. It wasn’t there before, I feel lucky and privileged to live in such a great time and I am proud to be part of it” — says Sergei.

The “green metal” platform will tokenize the inventories of platinum and palladium productions in Hong Kong. Palladium is a metal used in catalytic converters to curb harmful emissions from gasoline-based vehicles. By tokenizing the palladium production, BANKEX will help to make the car industry greener and make our contribution to environmental protection.

It is BANKEX’s priority to find people or companies who are interested in tokenizing their assets and partner with them to create tokenization platforms with new asset classes. What BANKEX does is not a revolution, but an evolution. We are going to help traditional companies from all over the world to become more efficient. For example, some of our team members have started a project in South Korea with SKTelecom, the largest Korean telecom company. We also understand that regulation is key when integrating blockchain into off-chain. In 2018, BANKEX is planning to find regulation sponsors and acquire licenses, such as money-transfer license, financial security license, some state licenses, to name but a few.

Other innovations BANKEX has been nurturing

In this year, BANKEX will finish the development of Claim Solution board, tokenization platform, custodian platform, KYC form, and hedging services. BANKEX team is also working on some innovative blockchain projects, like Mediatoken and the tokenization of franchises. Mediatoken is a platform that tokenizes social media accounts. The members of BANKEX team asked Sergei Sergienko to share his opinion about them.

Mediatoken

As a person who has his own YouTube channel, Sergei Sergienko thinks that Mediatoken will be an excellent motivator for bloggers to improve their content and transform from average to great producers. Banks do not have good projects for financing social media accounts, as small businesses generally do not matter to them. So, community-driven Mediatoken will be an extension of the social network model. BANKEX came up the idea of proof-of-concept, which will help bloggers to raise money so they have better chance to achieve financial success.

Franchise tokenization

Sergei admitted that he has never thought about the tokenization of franchises, but he considers it “freaking awesome”. Banks do not have problems financing franchises provided that they already have a number of stores. For example, Mcdonalds will easily get funded. But for the franchises that are entering a new market, fundraising is challenging. That’s why a lot of businesses eventually fail or stay small for a long time.

With the help of BANKEX’s tokenization technology, customers of a franchise can vote and decide whether it’s time to open a new shop.

The video of the full conversation is available here:

BANKEX team is creating proof-of-concept tokenization models and we publish what we do on our website so you can get to know them. BANKEX team is working hard everyday with the motivation that our tokenization projects will contribute to the progress of financial markets and benefit people in every part of the world.