BABB: Progress update #5–12.06.18startup entrepreneurship cryptocurrency blockchain banking
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 KuCoin
BAX is now listed on KuCoin, a major centralised exchange which is very popular with many people in the BABB community thanks to its easy interface and low fees. We ran a promotion with KuCoin which has ended now, but brought a lot of attention to BAX from new people outside the community.
BAX is trading with both BTC and ETH and you can buy it there now. We plan to continue build trading volume organically over time by listing on small and medium-sized exchanges, as discussed here; watch this space.
Equity crowdsale private round
We have now announced the date of the private round of the BABB equity crowdsale. The private round will open at 12pm London time on Tuesday 19 June. We wrote all about the private round in our latest blog post.
The private round is reserved exclusively for BABB friends and family and our existing community, including everyone who participated in the token sale and has discovered us since February. We are offering BAX bonuses and an airdrop, plus investor perks such as a special-edition ‘investor’ BlackCard.
Banking license team
Paul Johnson is CIO at BABB and is leading activities to obtain a banking license. He has been building his team over the last few months and they have been working on our applications in the UK and Lithuania.
Paul took the time to introduce his team and explain the work they are doing in more detail. If you missed the video, you can catch up now…
Patent application approved
In May, we filed an application to patent our data privacy technology. It’s a completely different to approach to that taken by any other bank, which makes the user the data controller, instead of the company. Because it’s so unique, we need to protect our intellectual property.
We have just found out that our application has been approved by the UK Intellectual Property Office (IPO), which means that there are no existing patents for this idea. The patent is now pending and we have one year to implement the mechanism and demo it to regulators and the IPO.
To give you a bit more context about this patent, we have talked about our approach to data privacy in a recent update.
BABB brand refresh
BABB has come a long way under its current branding, from three people typing furiously in a co-working space to a 20-strong team with a clear vision and strategy, backed by token sale funding.
The next steps in the journey are to launch the app and platform and achieve bank status, and that means it’s time to re-visit the BABB brand. The marketing and product teams have beenmeetings and workshops over the last few weeks, working on a shiny new brand identity, including values, visuals, movement, tone of voice and more.
Rest assured; BABB will still be instantly recognisable to anyone who has been with us since the early days. We simply want to refine our identity, discover who we really are, and ensure we’re communicating properly as we take these all-important next steps. Look out for the big reveal…
The next big event on our horizon is the equity crowdsale, before we start the lead-up to the release of the alpha app. Time seems to be rushing by faster and faster — our rollercoaster is speeding up.
Stay tuned for the latest updates on everything we’re up to including app development, banking license applications and more.
Original article was created by: BABB at medium.comDisclaimer: This article should not be taken as, and is not intended to provide, investment advice. Please conduct your own thorough research before investing in any cryptocurrency or ICO.
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August 18, 2018
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
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
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
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
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
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