BABB: Bank Account Based Blockchain, We Are Our Own Banks by@cryptoresearch

BABB: Bank Account Based Blockchain, We Are Our Own Banks

May 28th 2018 2,639 reads
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Crypto Research by William Thrill HackerNoon profile picture

Crypto Research by William Thrill

What is BABB?

BABB, a company that describes itself as the World Bank for the Micro-Economy, stands for Bank Account Based Blockchain. It is a decentralised banking system on the ERC-20 token Ethereum network. Their vision is to increase businesses on a global scale by improving financial support in communities, improve living conditions, and have an overall impact on countries and the global economy as a whole. They plan on attaining these goals by offering the world access to UK regulated peer-to-peer financial services through the use of biometrics and the blockchain.

Useful DYOR Information About Babb:

Research’s Date : May 21, 2018

CoinMarketCap URL :


Coin Name : BABB (BAX)

Total Supply : 50,000,000,000

Circulating Supply : 20,950,010,000

Market Cap : $50,156,628 USD

Pre Ico Price : 0.00090000

Ico Price : 1 BAX = $0.002394 USD

Tokens/Money Raised Through ICO : $10,000,000 during pre-ico / $19,300,000 during crowd sale

Time Zone : UTC-01:00

White Paper :

Token Type : ERC20

Potential Clients:

BABB is targeting the current ‘unbanked’ world market of approximately 2 billion people and represents a $380 billion dollar untapped industry. Primarily these are countries that consist of low per capita income, unstable education, unstable health sectors and constant political strife. In an increasingly connected world, 30% of the world population is still disconnected from the global economy.


The system is made of three main parts; The mobile banking app, Social KYC, and the Black Card. To begin, users need only download the smartphone app, verify their identity via KYC and BABB will connect them to traditional banking services effectively plugging into the economic world system. Once an account is made, users have access to peer to peer financial services such as personal payments, loans, trade, issuance of digital currencies, and raise funds for business ventures as well as other features. Users will also receive the Black Card, which acts as the physical connection to their digital assets. Let’s get into a little more detail for each.

Mobile Application:

Everything will be done via the BABB Mobile Application. This will allow end users complete control of their money from anywhere in the world as long as they have internet connection which includes SEPA and IBAN.

Social KYC:

This project believes in trust and utilizes a ‘Social KYC’ strategy. Any user who is fully KYC compliant through verified documentation can invite other users to join the platform. This method only requires a valid I.D. such as your passport, and does not require a UK address or credit history. A passphrase and biometric data is collected to ensure identity. This fluid interaction will allow wide scale seamless adoption of BABB.

The Black Card:

With this payment card, you are provided a direct link with your BABB bank account via a QR code or NFC (Near Field Communication). It acts as debit card or a prepaid card for friends and family. Due to being a QR (Quick Response) code, it does not have a chip and therefore cuts out the requirement of being a Visa or Mastercard. There is no personal data other than your code which decreases security risks. The card is simply a hardware version of your banking access.

Integration of Central Banks:

A detail worth mentioning is BAPP services not only individuals, but Central Banks (CB). Several CB’s have already alluded to their intention to begin blockchain adoption and its seems assured that a Central Bank Digital Currency (CBDC) will be utilized. This integration potential will act as further token utility. BAPP provides the infrastructure for banks to piggyback on their system and allow for the launching of CBDC. BAPP will merge both banks and individuals which is a huge market.

The Tech Specs:

The technical aspect of BABB is designed on a Federated blockchain which translates to centralised. They will have nodes governed by the company which run on smart contracts. FIAT is stored in the BABB bank reserves and represented as BAX. Privacy is kept top priority by the private key always being kept solely on the users device. Moreover, they utilize data encryption and cryptographic hashing as well as biometric identification e.g. face and voice recognition.

Use cases and Services:

BABB offers many flexible services. A further advantage is to make extra cash. This is accomplished by users acting as a bank utilizing BAX. This includes:

  1. Peer-to-peer Cash allows for withdrawal and deposit by engaging with other users or agents. Exchanging of different currencies is simple on the app.
  2. Peer-to-peer borrowing and lending with clearly defined terms and rates are available using smart contracts making the service streamlined.
  3. Three Peer-to-peer fundraising methods: Private, which is invite only; Personal which is available to friends and family; and Public is for global fundraising allowing direct positive impact such as disaster relief and community infrastructure projects as well as personal projects.
  4. BABB uses BAX tokens with the advantage of no currency conversion.
  5. Zero middlemen.
  6. Finally, a huge benefit is creating a payroll service which allows companies to easily automate payroll process for employees.

On top of all these features comes a fully authorized payment institution (API) certification from the FCA. They are also currently in the process of applying for a banking license which will have massive end result potential.

While BABB is only in its infancy, the token use is widespread in capability and therefore definitely a currency that will be in high demand. Finally, there will also be a token burn of 50% of all tokens utilised for payment of platform use. This will occur until the total amount of tokens in circulation is 20% of current total. The remaining tokens will be frozen on the platform reserve so there are negligible effects on market price.

Social Media Information :



Likes :8492 Likes 8,855 Followers

How Many Posts / Updates In The Last 7 Days : 9 Recent Updates




Followers : 8,900 Followers

How Many Tweets / Retweets In The Last 7 Days : 2 Recent Tweets/Retweets




Users : 13,882 Members


Telegram Admins

User Name : @CryptoTeddy

User Name :@Ani_BABB

User Name :@CryptoTeddy

User Name :@Mig_AmaZix



Readers : 1181 Readers



Subscribers : 1564 Subscribers



Followers : 2K Followers

How Many Updates In The Last 7 Days : 1 Recent Update



Followers : 859 Followers

How Many Updates In The Last 7 Days :-


If you find more social media platforms or chats or other links please put them here.

Staff / Team Info :


Title :Founder / CEO

Bio : Rushd is founder and CEO of BABB, leading a diverse team of industry veterans to make his vision a reality. He is a financial inclusion specialist and has an MA from University of Greenwich in Microfinance and Financial Inclusion. Before that, he attended the Ecole Polytechnique de Lausanne and was awarded an IT Science Degree in 2006. Rushd has managed a highly successful Authorised Payment Institution (API) in the UK — Wowpaymobi.

LinkedIn :

Name :Jorge Pereira

Title :CTO

Bio : Jorge is technologist and serial entrepreneur, with extensive experience in developing technology projects in a variety of areas, for local and global markets. He founded Seegno in 2008, a world-class web application development firm, where he remains as an Advisor.

In early 2014 Jorge joined Uphold, where as CTO he was responsible for the design and architecture of the whole technology stack, as well as UI and UX of its products. Ever since, Jorge has focused intensively on Fintech, developing products and technology related to Cryptocurrencies, Distributed Ledgers, Regulatory Compliance, KYC/AML, Fraud Prevention, Risk Mitigation, Trading, Hedging, Bank Integrations and other areas related to fintech platforms and applications.

In late 2017 Jorge founded FintechServer, which helps fintech companies bring products to market faster and more securely, and also co-founded fintech startups Wayfex and LoyalChain.

LinkedIn :

Extra Links :-

Name :Adam Haeems

Title :COO

Bio : Adam is responsible for the daily operations of BABB. He has a Master of Finance from Cambridge University (Judge Business School) and joins BABB fresh from an accomplished trading career at Bank of America Merrill Lynch and a $1bn global macro hedge fund (QCM). He is passionate about financial inclusion and improving market efficiency within the microeconomy.

LinkedIn :

Name :Paul Johnson

Title :CIO

Bio : Paul is a technological evangelist and has held CIO and COO positions in companies such as Aldermore Bank, Lloyds Bank and GMAC FS. In addition to his executive experience in banking and payments, Paul is an iNED on the Board of a foreign bank and has served in the Royal Navy. He also enjoys sport and travelling with his wife and six children.

LinkedIn :

Name :Dean Refaat

Title :Head of Research

Bio : Dean’s goal is to launch BABB in the UK and then penetrate markets in the MENA region. He gained his experience in banking regulation and economic risk mitigation as a banking inspector at the Central Bank of Egypt. He then became an independent researcher and has received his master’s degree in ‘Philosophy and Public Policy’ from the LSE.

LinkedIn :

Name :Ani Alexander

Title :Head of Marketing

Bio : Ani is a marketing professional specialising in brand architecture, with experience in banking, telecom, media agencies and charities. She loves building, launching and growing brands from scratch using storytelling, new media content and social media. When not working, she writes novels and records podcasts.

LinkedIn :

Name :Annabel Mellor

Title :Head of Communications

Bio : Annabel shapes BABB’s content and communications, to ensure the company delivers a clear, distinct and inspiring message across all channels. Annabel has helped various successful consumer-facing fintech startups, including Chip and Nutmeg, to grow rapidly and create an engaged community.

LinkedIn :

Name :Leonard Seelig

Title :NE Director

Bio : Leonard is supporting BABB in implementing best practices on both market-facing and operational processes. He has twenty years of banking experience, including in the technology sector, and in helping lead both private and public companies. Leonard has recently retired from his role as chairman of APC Technology Group PLC, and Board member of Defenx PLC, a security software company listed on the AIM London stock market.

Name :Luís Fraga

Title :Lead Product Manager

Bio : Fraga is Head of Fintech Products at Seegno, and is responsible for Product management at BABB. During his 16-year career, Luís worked as project manager, product owner and creative director, defining end-2-end experiences in multiple areas such as Telco, Retail, Banking, FinTech, Entertainment, Music streaming, Games, Safety and Fashion. Some of the major clients he worked with include Microsoft, Sesame Workshop, Bungie, Vodafone and has also taken part in European research projects.

Fraga worked at MobiComp, Microsoft, iMobileMagic, Smith Micro, Uphold and did his internship at Philips Research.

LinkedIn :

Name :Luís Oliveira

Title :Creative Director

Bio : Luís is Creative Director at Seegno, and is responsible for creative, web and mobile design at BABB. He is an award-winning, obsessively oriented, diversely experienced creative director, as well as art director, designer, manager and leader. With 16 years of experience in design and technology, he has had the opportunity to collaborate with companies such as Microsoft, Millennium BCP, Active Bank and Ikea.

Luís is a friend, lover, musician and sportsman, laying his energy and passion in whatever he does, never afraid to go the extra mile to get things done.

LinkedIn :

Name :Nuno Rocha

Title :Head of Engineering

Bio : Nuno is the Head of Engineering at Seegno, leading both the FintechServer and BABB’s Engineering teams. He is a leader at heart, and a fullstack developer with years of experience in both frontend and backend technology, and in the last few years has worked increasingly with blockchain technology.

In the last few years, Nuno has worked on projects such as VRI Direct, Uphold, Wayfex, LoyalChain, FintechServer, and also software for PSD2 banking infrastructure.

LinkedIn :

Name :João Gonçalves

Title :Senior Software Engineer

Bio : João is a Senior Engineer at Seegno, and part of BABB’s development team. His focus lies on building software that bridges the gap between blockchains and legacy systems, particularly focused on KYC and data processing.

In the last few years, João has worked on projects such as Uphold, Wayfex, LoyalChain, FintechServer, and also software for PSD2 banking infrastructure.

LinkedIn :

Name :Jingwei Li

Title :Researcher

Bio : Jingwei is a Researcher at BABB with a passion for understanding how Blockchain could disrupt the future of Banking. After spending a year with the Bank of England, Jingwei built a solid understanding of the central banking framework by analaysing a portfolio of regulatory approvals for international banks. When not working, Jingwei is studying towards his MSc in Finance at Imperial College

LinkedIn :

Name :Mai Abdel-Aziz

Title :Middle East Communication Manager

Bio : Mai is BABB’s Arabic content writer. She worked as a journalist in Cairo before moving to London to tutor BBC journalists in Arabic as well as providing translation for their Middle East focused work. In addition, she worked as a Research Assistant for the British Council through Lancaster University, providing translation services.

LinkedIn :

Name :David Devia

Title :Content Creator

Bio : David is a videographer, director and content creator with over five years’ experience. He has done an internship with Level 39, the largest technology accelerator in Europe, assisting with content strategy and stock footage creation. David is also part of the team who record and edit Fintech Insider, the most popular business podcast in the UK.

LinkedIn :

Company Address : Level 39 One Canada Square Canary Wharf London, E14 5AB, UK

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