BANKEX — It’s all about asset tokenization

The company BANKEX is a fintech foundation, which specializes in developing technologies allowing asset digitalization. The project has many interesting products that interesting for banks and invest companies. Therefore, to accelerate its product development, BankEx team decided to conduct an ICO in August.

Probably, the main direction of BANKEX is the development of a platform, which will allow real assets tokenization and their subsequent purchase or sale. There are many cases which can illustrate our business model — here is one of them:

Lithium- white oil

Let’s start with some analysis. According to Goldman Sachs forecast, the demand for lithium will grow by 3 times by 2025 due to steady demand from manufacturers of electric vehicles and smartphones.

Lithium has already been dubbed white oil, as Tesla and other automakers use it to produce batteries. Ilon Mask said that Tesla Motors will have to buy up all of the lithium in the world to produce the claimed 500,000 cars a year. The world need for lithium mining has never been so acute.

How does digitalization work?

There is a company called LithiumX / product_owner /, which specializes in the digitization of lithium reserves (product). The technological process is constructed as follows: first they scan the lithium reserves from a satellite, then they determine where the lithium is, conduct a first estimation of the lithium reserves and finally they perform an on-site examination of lithium using IoT tools.

There is a mine owner in Chile / originator_order /, who wants to attract investments to extract lithium from his mine.

/ Product_owner / comes to the mine and uses special equipment to determine the amount of lithium in it, the quality of lithium and the difficulty of extraction.

Further, all the data obtained after scanning the mine is generated by the Smart-contract according to the given estimation algorithm (F1 / unique for Lithium mines), then there’s a procedure of asset verification / Escrow/ and finally the LithiumToken is created and placed in the / ethereum / blockchain. After that, the LithiumToken is available for a bid offer on the exchange / order_bid /. Further a set of sensors is put on the shaft walls, showing the presence of lithium in it.