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Project Description

BABB is an acronym for Bank Account Based on Blockchain. BABB will be a platform to a connected world of crowdsourced financial services. BABB account holders are nodes in a peer-to-peer network managed by smart contracts.

BAX is a asset ERC20 token built on the Ethereum network and is used as an utility token in BABB.

Team:

  • Rushd Averroes: Founder / CEO. 
  • Jorge Pereira: CTO. 
  • Adam Haeems: COO. 
  • Dean Refaat: Head of Research. 
  • Leonard Seelig: NE Director.
  • Ani Alexander: https://www.linkedin.com/in/anialexander/. 
  • Annabel Mellor: Head of Communications. 
  • Jingwei Li: Researcher. 
  • Mai Abdel-Aziz: Mai Abdel-Aziz. 
  • David Devia: Video Content Creator. 
  • Paul Johnson: CIO. 
  • Luís Fraga: Lead Product Manager. 
  • Luís Oliveira: Creative Director. 
  • Nuno Rocha: Head of Engineering. 
  • João Gonçalves: Senior Software Engineer. 

BABB will be holding its ICO on February 6th, 2018. The ICO token supply represents 60% of the total token supply, so there will be a total of 30000000000 tokens available at the offering and is expected to end on March 6th, 2018 or when the funding cap is reached. Any unsold/remaining tokens will be burned.

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*Disclaimer: This data should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency/cryptotoken or ICO.
BAX Latest Updates
October 02, 2018

Progress report #9 — September roundup

Progress report #9 — September roundupCatch up with the latest from BABB HQ.September has been a cracking month in the BABB office; everyone is incredibly focused and there’s a “back to school” feel in the air.Here’s our video roundup from September, plus — read on to get...

From: BABB

September 27, 2018

Deep dive product update: September edition

Checking in with Ricardo following the handover of designs to the development teamLast time we caught up with our Chief Product Officer, Ricardo, it was mid-August and his team was preparing to hand over the documentation of the BABB app to the technical team to build.This week, we’ve got...

From: BABB

September 21, 2018

We’ve been invited to apply for a banking license in Lithuania

We’re excited to tell you that our meeting this week with the regulators at the Bank of Lithuania was very positive, and they have invited us to submit our application for a Lithuanian banking license.The meetingWe (Paul, Rushd and Leonard) met with five people, including our primary contact...

From: BABB

We’ve been invited to apply for a banking licence in Lithuania

We’re excited to tell you that our meeting this week with the regulators at the Bank of Lithuania was very positive, and they have invited us to submit our application for a Lithuanian banking licence.The meetingWe (Paul, Rushd and Leonard) met with five people, including our primary contact...

From: BABB

September 11, 2018

Technology deep dive update

Our CTO’s first post updating you on our technical progress.This post is the first in a series of in-depth updates from Gaurav and his team. We hope you enjoy these posts and the insights into our project. Let us know what you think! And now, over to Gaurav…This week (w/b Monday 10th...

From: BABB

September 03, 2018

Progress report #8: August roundup

Welcome to the August roundup from BABB HQ.It’s the end of August, and in London the autumn season is almost upon us. Leaves turn brown, the BABB team reaches for our jumpers and our progress continues.We are posting this update just two weeks after our last progress report, but we have a lot...

From: BABB

August 30, 2018

Marketing team deep dive update

Get the inside scoop from Ani, BABB’s head of marketingThis week’s deep dive is dedicated to BABB’s marketing activities. Annie and Ani caught up to discuss the marketing strategy and the team’s plans for the future.Annie: Can you describe our current position in relation to our...

From: BABB

August 23, 2018

Banking license application deep dive

Paul and Adam at the Bank of LithuaniaThe low-down from CIO Paul about BABB’s progress with the regulators.This post is the second in a new series of deep dives into the different areas of activity within BABB. This week, we focus on the banking license application, and Annie caught up with...

From: BABB

August 20, 2018

Equity crowdsale: what’s next?

Here’s a breakdown of next steps and what to expect.In case you missed the big news from the weekend: the BABB equity crowdsale closed at 11:59pm on Saturday 18 August, with total investment coming in at just over £1,550,000 from 1,452 investors.We’re delighted to have been successfully...

From: BABB

August 18, 2018

Hi Vincenzo, unfortunately that is a confidential document.

Hi Vincenzo, unfortunately that is a confidential document. However, much of the information in the IBP (available to download on Crowdcube) can also be found in the RBP. Hope this helps!

From: BABB

August 17, 2018

Equity crowdsale: last chance to invest

The equity crowdsale will close 11:59PM UK time Saturday 18 AugustIt’s your last chance to invest in the BABB equity crowdsale.The campaign will close at 11:59PM on Saturday 18 August. If you want to invest and buy shares in BABB — it’s now or never!What happens next?After the sale...

From: BABB

August 16, 2018

Product team deep dive: August edition

Welcome to the first update in a new series of deep dives.This week, the BABB product team is taking the spotlight. Annie sat down to catch up with Ricardo, Chief Product Officer, about the progress his team has made in recent weeks and what they’re currently working on.A: Hey Ricardo....

From: BABB

August 14, 2018

Progress report #7–14.08.18

Goings-on from BABB HQ (and details of the changes we’re about to make)Welcome to the latest official BABB progress report — and the last ever mid-month progress report.We’re shaking up the way we communicate at BABB HQ. Activity and progress are accelerating faster and faster and we...

From: BABB

August 03, 2018

Equity crowdsale: 100% funded!

We are happy to announce we have hit our £1.5 million fundraising targetExciting news: the BABB equity crowdsale is now 100% funded, meaning we have secured £1.5 million of funding to meet the minimum capital requirement for BABB’s banking license applications in the UK and...

From: BABB

August 01, 2018

Gaurav Rana joins BABB as CTO

We’re very excited to introduce our new CTO, Gaurav Rana. He’s taking over development of the app and blockchain platform and will be responsible for everything related to BABB’s technology.Gaurav is currently in Bali and will be heading to London as soon as his visa arrangements are...

From: BABB

July 11, 2018

Valuation update for equity crowdsale

We launched the equity crowdsale to the public two weeks ago and it’s been fantastic to receive the support of more than 900 investors, some from the community and some totally new to the BABB project.Since we launched, some concerns have been expressed regarding the valuation of...

From: BABB

July 10, 2018

Progress report #6 — 10.07.18

Taking stock of the past month’s news from BABB HQSomehow we have already reached the second Tuesday in July, and it’s time for another round up of all the progress since mid June.It is hard to believe almost six months have passed since we launched the token pre-sale on 15 January. The...

From: BABB

June 29, 2018

How we valued our company

Valuations are a complex business. Here’s how we did itA company’s valuation is the estimate of what it is worth today. taking into account its current situation and future prospects. There are three main approaches to valuing a company: asset-based, cash flow-based and an analysis of...

From: BABB

June 27, 2018

Announcing: partnership with Intellectsoft

Award-winning software dev company are assisting us to build the app & blockchain platformWe are excited to tell you that we have expanded our technical resource by partnering with award-winning app and software development company Intellectsoft.Our proposition uses advanced technologies...

From: BABB

June 22, 2018

Invest in BABB via bank/wire transfer

Good news! You can now buy equity in BABB via wire transferWe have an update for you: if you don’t have a credit, debit or prepaid card, you can now invest in the BABB equity crowdsale via wire transfer.We received so many requests for this that we asked CrowdCube to enable the option to...

From: BABB

June 21, 2018

UK government takes an interest in BABB

Rushd and Leonard met with John Glen MP, Economic Secretary to the TreasuryThe UK Government takes a keen interest in the UK fintech landscape. When it comes to tech startups trying to help people manage their money and get access to the banking services they need, it is very supportive of...

From: BABB

June 18, 2018

Also, please note the valuation is £100 million, not £1 billion

Also, please note the valuation is £100 million, not £1 billion

From: BABB

Yes, the valuation is based on the DCF (discounted cash flow) method.

Yes, the valuation is based on the DCF (discounted cash flow) method. We have taken a low and conservative valuation as a starting point but it is purely an indication of value based on a very detailed model of expected growth over the next 5 years.

From: BABB

Why buy equity shares in BABB?

Shares, equity, investing, exits…all explainedBABB is holding an equity crowdsale to give the community a chance to own equity in the company and raise money to fund the minimum capital requirement for the banking license.The private round of the equity crowdsale goes live at 12pm London time...

From: BABB

June 13, 2018

Progress update #5–12.06.18

Welcome to the banking license special edition.It’s time to catch up on our recent progress! June is shaping up to be a defining moment in the BABB story, with several new developments coming to fruition.Read on for a full report on the main events of the past month…BAX on KuCoinBAX is...

From: BABB

Our approach to data privacy

Data privacy may be a hot topic right now, but we’re not talking about it because it’s trendy — we’re talking about it because it’s central to the BABB proposition.If you prefer to watch rather than read, you can also check out this video of Rushd talking to Annie about BABB’s...

From: BABB

June 11, 2018

Hello, yes crowdfunding is a fully regulated and very popular way of raising funds.

Hello, yes crowdfunding is a fully regulated and very popular way of raising funds. We are raising on CrowdCube which is regulated in the UK by the FCA.

From: BABB

June 08, 2018

Join the private round of the BABB equity crowdsale

We’re very excited to announce that the private round of the BABB equity crowdsale will go live on Tuesday 19th June at 12pm London time.Please REGISTER HERE for the private round of the equity crowdsale.We are aiming to raise at least £750,000 of our £1.5 million target during the private...

From: BABB

May 31, 2018

BAX on KuCoin

We are happy to announce that BAX has launched on KuCoin.https://medium.com/media/db752eba0afb64ac93a78edd26ec488f/hrefDeposits effective immediatelyWithdrawal: 13:00 London time May 31, 2018 (UTC+8)Buy orders: 14:30 London time May 31, 2018 (UTC+8)Sell orders: 15:00 London time May 31,...

From: BABB

May 15, 2018

Progress report #4–15.05.18

Catch up with BABB’s recent progress in our latest roundupMay has been a busy but exciting month at BABB HQ and beyond, with many members of our team travelling near and far for meetings. We’re happy to tell you that we’re taking strides towards obtaining a banking license in Bahrain and...

From: BABB

May 07, 2018

Update from Bahrain

We’ve just met with Central Bank of Bahrain, National Bank of Bahrain and Fintech Bay.It may be a record-breakingly sunny bank holiday weekend in London — but the BABB team have gone one step hotter. We’re visiting Bahrain and Dubai on a three-day whistle-stop trip to meet with...

From: BABB

April 30, 2018

Announcing: BABB equity crowdsale

COMING SOON: opportunity to own equity, earn BAX bonus and star in our video.We have some exciting news: we’re holding an equity crowdsale.It will be held on CrowdCube and will be live to the public later this year (exact launch date TBA).We are holding a private round first, with an...

From: BABB

April 19, 2018

Progress update #3–19.04.2018

Catch up with our progress over the last two weeksIt’s been an awesome fortnight since our last report. We have made significant progress in product development and have also taken another important step towards securing a partnership with the Central Bank of Bahrain (CBB).Read on to find...

From: BABB

April 16, 2018

BABB’s view on exchanges

A run-down of the exchange landscape & BABB’s place within itIt’s high time we talked about exchanges.But first: a quick recap of the two months since the end of the token sale on 20 February 2018.Tokens were distributed on 8 March and almost immediately available on IDEX, with...

From: BABB

April 10, 2018

Hey, sorry the link isn’t working from you. Please could you try this one?

Hey, sorry the link isn’t working from you. Please could you try this one?https://studies.simon-kucher.com/AME/BABB Community Survey/login.html

From: BABB

Our vision video contains some demo footage of the prototype we built last year.

Our vision video contains some demo footage of the prototype we built last year. For the app proper we’re questioning all of our assumptions and taking the research seriously.This isn’t the only research we’re doing of course, and the backend architecture and development will also be open...

From: BABB

April 06, 2018

BABB needs YOU

Get involved in our research to help us design the product.***Take the BABB product research survey here***We’re currently designing the BABB app and BlackCard, a process which involves a huge amount of research.As we talked about in the latest product update (read it here) our product team...

From: BABB

April 05, 2018

Great question!

Great question!There is an in-depth product research process that we’re involved with at the moment, which includes creating “personas” which represent the people you’re designing for, so you can consider their pain points and needs and design for them. We’re interviewing lots of...

From: BABB

April 03, 2018

Progress update #2–03.04.18

Here’s a roundup of our progress over the last fortnightOver the past two weeks, the whole team has been pulling together to get BABB ready to apply formally for a UK banking license. We also had a workshop with the product team to focus on the UX design of the mobile app, and a fruitful...

From: BABB

Product update: UX workshop

How will it feel to use the BABB app?At the end of last week, the product team gathered the full BABB team together to align the positioning and strategy for the BABB app and to agree on the type of experience (UX) we want to deliver.Why UX?UX is something of a buzz word in tech these days,...

From: BABB

BABB x EDB

An update our relationship with one of our Middle East partners.On Monday last week, we welcomed three representatives from the Economic Development Board (EDB) of Bahrain.Emma, David and Dalia came to visit BABB at our headquarters in Canary Wharf. It was an informal meeting for them to get to...

From: BABB

March 20, 2018

Progress update #1 — 20.03.18

Here’s the latest roundup of our recent progress.Welcome to the first ever official BABB progress update.The BABB team is committed to committed to our principles of openness and honesty and we want to keep you fully informed on the whole team’s progress at every step of the way.Over the...

From: BABB

March 13, 2018

BAX activated on Bancor!

BAX now has continuous liquidity as a Relay Token on the Bancor network.The Bancor networkBAX is now integrated on Bancor. This gives BAX buyers and sellers access to continuous liquidity regardless of trade volume or exchange listings.Any token on the Bancor network can be converted to any...

From: BABB

March 10, 2018

5 takes on the Mark Carney “future of money” speech

Here’s what we made of the speech, and what it means for BABB.Mark Carney, Governor of the Bank of England, recently made a speech about the future of money, including how the regulatory landscape is taking shape for cryptocurrency.We’ve dug into what he said to bring you these...

From: BABB

March 08, 2018

BAX tokens unlocked!

How to withdraw your BAX tokens.BAX tokens are now unlocked which means you can withdraw them to your ERC20-compatible wallet. You also have the option to keep your BAX in your BABB account.Option one: withdraw your BAXTo withdraw your tokens, you need to log in to your BABB account and send...

From: BABB

March 02, 2018

BABB token sale round-up

It’s just over a week since we closed the token sale and we’ve finished crunching the numbers.The top lineWe sold 19,999,881,508 BAX…and we’ll burn the rest.9,788 people took part in the token sale (including the main sale and pre-sale) from 146 different countries around...

From: BABB

March 01, 2018

Activating 2FA on your BABB account

Why and how to enable two factor authenticationTwo factor authentication (2FA) is now available on your BABB account, to increase the security of your BAX tokens.To activate 2FA, log in to your account and select Security under the drop-down menu in the top-right corner.Flick the switch next to...

From: BABB

Mir auch :)

Mir auch :)

From: BABB: bank account based blockchain

February 23, 2018

Five surprising skills our token sale gave us

The BABB team’s CVs are looking awesome…The BABB token sale has finished and the BABB team is disembarking from the rollercoaster.Keen as we are to move on to delivering the next phase of development, we think we’re allowed a tiny moment of reflection. We thought you might find it funny...

From: BABB: bank account based blockchain

February 20, 2018

BABB token sale SOLD OUT

What happens now?The BABB token sale is now SOLD OUT. Welcome to the afterparty!6 months of work…53 email updates…866 tweets…hundreds of hours spent in meetings and meet ups…many thousands of conversations with the community on Telegram…millions of cups of coffee…trillions of hours...

From: BABB: bank account based blockchain

February 19, 2018

Thanks for the offer! Submitted now for your approval :)

Thanks for the offer! Submitted now for your approval :)-Annie, BABB team

From: BABB: bank account based blockchain

Thanks for the response Lukas — we don’t currently have this information but we will certainly…

Thanks for the response Lukas — we don’t currently have this information but we will certainly share all the details once the option to contribute to the liquidity pool is available.

From: BABB: bank account based blockchain

February 16, 2018

BABB integrating Bancor protocol

We’re excited to tell you BAX will be a liquid Relay TokenWe are integrating the Bancor protocol to provide continuous liquidity for BAX, meaning users will be able to buy and sell BAX on the Bancor network.The Bancor networkBAX will be integrated on the Bancor network as a Relay Token. By...

From: BABB: bank account based blockchain

February 08, 2018

BABB token sale: day two update

Token sale is live — here’s what happened in the last 24 hoursBABB token sale is live and ongoing — and 80% sold out.***Reminder: please only ever send ETH to the address shown on your dashboard when you log in to your account at https://getbabb.com/me***Day two round-upIn day...

From: BABB: bank account based blockchain

February 07, 2018

ETH rate: SOLUTION

Thanks for your patience — we have some newsThank you to everyone who has got in touch to give feedback about the ETH rate for people who bought BAX at the start of the token sale yesterday.We appreciate the understanding with which the community has approached this issue, and we’ve...

From: BABB: bank account based blockchain

BABB token sale: day one update

Token sale live — here’s what happened in the first 24 hoursThe BABB token sale is live and ongoing.Please only ever send ETH to the address shown on your dashboard when you log in to your account at https://getbabb.com/meDay one round-upBABB token sale went live at 12pm GMT on...

From: BABB: bank account based blockchain

February 06, 2018

There was recently an article on Steemit (link below) that makes a few observations about BABB and…

There was recently an article on Steemit (link below) that makes a few observations about BABB and about myself. The article doesn’t really make any claims, it merely posts facts and looks to present them in “gotcha” style, as if those facts are indicative of some misbehaviour, which they...

From: BABB: bank account based blockchain

February 05, 2018

BABB token sale: OPEN

Essential information for all token sale participantsBABB token sale goes live Tuesday 6 February at 12pm GMT.Key details10 billion BAX tokens for sale at $0.0012First 1 billion tokens sold at 15% discountHard cap $12 millionMinimum transaction limit 0.2 ETHMax individual cap 8 ETH (first...

From: BABB: bank account based blockchain

October 12, 2018 17:21

BABB Insights episode #3

Annie and Ieva discuss the fintech news from the past fortnight from BABB's perspective.

00:26 http://uk.businessinsider.com/morgan-stanley-fintech-report-2018-9

01:54 http://dev2.cityam.com/262663/city-has-come-long-way-since-crash-but-we-cant-afford

02:57 https://www.theguardian.com/money/2018/oct/01/cashless-britain-banks-atms

05:56 https://www.technologyreview.com/s/612207/stablecoins-will-help-cryptocurrencies-achieve-world-dominationif-they-actually-work/

08:18 https://cointelegraph.com/news/worlds-largest-crypto-exchange-binance-announces-all-listing-fees-will-be-donated-to-charity?utm_source=newsletter1&utm_medium=email

09:40 https://www.cnbc.com/2018/10/01/ripple-xrp-cryptocurrency-product-xrapid-goes-live-for-first-time.html

10:54 https://www.forbes.com/sites/juliemyerswood/2018/09/27/regulators-are-catching-up-with-the-crypto-boom/#2791121e1b92


October 02, 2018 12:32

Progress report #9: September roundup

September has been a cracking month in the BABB office; everyone is incredibly focused and there's a "back to school" feel in the air. You can read the full report here: https://medium.com/@BABB/progress-report-9-september-roundup-9bd774fbf2db


September 28, 2018 16:30

BABB Insights episode #2

Join Annie and Dean to dissect the major banking, blockchain and fintech stories from the past two weeks.

Here's what we discuss so you can follow along...

00:29 The WEF report
https://www.weforum.org/press/2018/09/blockchain-could-enable-1-trillion-in-trade-mostly-for-smes-and-emerging-markets/

02:57 Are banks serious about fintech?
https://thefinanser.com/2018/09/banks-serious-fintech.html/

04:27 Interview with Nikolay Storonsky
https://www.forbes.com/sites/oliversmith/2018/09/20/revoluts-nikolay-storonsky-is-building-the-amazon-of-banking/#3eb052e218a9

07:18 Scammers steal half a billion pounds from UK banking customers
https://www.bbc.co.uk/news/business-45634362

11:03 Bitwala to launch blockchain banking in Germany
https://www.finextra.com/pressarticle/75562/bitwala-to-launch-blockchain-banking-in-germany-after-4m-fund-raising


September 25, 2018 11:54

Dev update: workshop week

Five leading members of the technical team visited us in the London office for a week of workshops with the rest of the team. We had a great time getting to know them and making rapid progress on the development of the product.


September 21, 2018 13:22

Update: Lithuania banking license application

We're excited to tell you that our meeting this week with the regulators at the Bank of Lithuania was very positive, and they have invited us to submit our application for a Lithuanian banking license. Read the full update: https://medium.com/babb/weve-been-invited-to-apply-for-a-banking-license-in-lithuania-8cc1b5b9cdc5


September 21, 2018 13:22

Update: Lithuania banking licence application

We're excited to tell you that our meeting this week with the regulators at the Bank of Lithuania was very positive, and they have invited us to submit our application for a Lithuanian banking licence. Read the full update: https://medium.com/babb/weve-been-invited-to-apply-for-a-banking-license-in-lithuania-8cc1b5b9cdc5


September 14, 2018 15:02

BABB Insights episode #1

Join Leonard and Ani to discuss the big stories of the last fortnight.

This is a new series - let us know if you like it and what we could do to improve!

Here are the articles we discussed...
Square Wins Patent for Cryptocurrency Payment Network
https://www.ccn.com/bitcoin-accepted-everywhere-square-wins-patent-for-cryptocurrency-payment-network/

Zoom is using blockchain to match freelancers with businesses and manage projects
https://venturebeat.com/2018/08/31/zoom-is-using-blockchain-to-match-freelancers-with-businesses-and-manage-projects/

Bank of America freezing accounts of customers suspected of not being US citizens
https://www.sacbee.com/news/business/article217567300.html#storylink=cpy

Fintech start-up TransferWise reports second year of profit, revenue almost doubles
https://www.cnbc.com/2018/09/10/transferwise-earnings-second-year-of-profit-revenue-surges.html


September 11, 2018 17:28

Introducing: the technical team

Meet the team working on bringing the BABB app and platform to life. We're very glad to have the guys from Kiev visiting us in London this week and we'll be updating you on our progress throughout the week.

For more behind-the-scenes footage, head to our Instagram: https://www.instagram.com/getbabb/


September 05, 2018 13:57

Introducing: Adam Haeems, Chief Operating Officer

Adam Haeems was one of the founding members of BABB, joining the company last year.

Meet the operations team working behind the scenes at BABB to make the magic happen, including office manager Karolina and financial controller Florence.


August 17, 2018 16:07

Equity sale: Last chance to invest

BABB on Crowdcube: https://crowdcube.com/babb

Check out the full update on our blog: https://medium.com/babb/equity-crowdsale-last-chance-to-invest-175892a2fdb2