In a previous article, we figured out what the difference is between utility and security tokens. However, even though we highlighted several times that BKX is a utility token, we never explained how BKX can be used in the BANKEX ecosystem. This article will help you understand some of the possible applications of BKX tokens inside BANKEX technologies.

BKX token is utilized inside the BANKEX ecosystem to fuel and develop BANKEX products.

BKX Token As Fuel for AppToken

AppToken is a service that allows creators of software applications to get funding for the development and marketing of their software creations. AppToken will also enable investors to easily view and consider apps they might want to invest in at the early stages of development. For every tokenization issue which utilizes BANKEX technology, software application developers pay a license fee in BKX tokens. BANKEX is looking for partners in a variety of countries, who will find local clients help implement tokenization, integrate technological solutions and provide marketing services to increase asset value.

BKX Token As Fuel for Mediatoken

MediaToken is a new service from BANKEX that allows the tokenization of Instagram and other social media accounts. With the help of Mediatoken, bloggers can attract funds for promoting their accounts and earn more money from advertising sales.

Also, it enables investors to invest money in the Instagram account at the beginning of its development and receive advertising space in the hyped-up account, driving value and boosting dividends. All investments take place in BKX tokens. Mediatoken users pay a license fee in BKX for using the BANKEX tokenization technology.

BKX Token As The Reward for Using BANKEX Bounty Service

BANKEX Bounty is a marketing tool that was developed to highlight new blockchain projects with the help of the crypto community. The users of BANKEX Bounty earn BKX tokens for participating in testing and advertising of new blockchain projects.

BKX Token As Fee for Using BANKEX Plasma

BANKEX Plasma is one of the most advanced BANKEX projects. BANKEX Plasma is a daughter blockchain of the Ethereum network that increases the speed of the transactions in Ethereum with less gas consumption. In order to use BANKEX Plasma, users must pay a small BKX fee.

BKX Token As Fuel for Vending Machines

Tokenization of the vending machines is a perfect example of implementation of BANKEX Proof-of-Asset protocol. Vending machines with IoT sensors inside collect all the data from the machine and deliver it to the BANKEX platform to show the current status, the revenue of the device. This makes the asset fully transparent for asset owners or contributors. An asset owner who wants to expand his business connects his assets with BANKEX platform and issues BKX tokens that are backed by future cash-flows from vending machines. Possible contributors can analyze the data from these machines, buy BKX tokens and take part in the future revenue of these machines. The goods from tokenized vending machines can be purchased by fiat money or crypto, including BKX token.

BKX Token As Court Fee in Claim Solution Board

BANKEX Claim Solution Board is a tool that will help to settle disputes inside the blockchain community. It’s really just a blockchain analog of arbitrage court, where confrontations between community members can be solved by arbitrators. The court fee, which is dispersed among arbitrators, is paid in BKX tokens. To take part in the trial, arbitrators buy voting tickets which give them a right to solve the disputes. These tickets are also sold with BKX tokens.

In this article we highlighted only a few of BKX token functions. With the advent of new BANKEX products, the uses of BKX tokens will expand.