BANKEX
BANKEX
Token: BKX


Proof-of-Asset Protocol

ICO dates
Start date: 2017-11-28
End date: 2017-12-28

Registrated in: USA

Platform: Ethereum

PREMIUM ICO

https://bankex.com/ Screenshot
BANKEX categories
Banking
Video
BANKEX token sale
KYC passing required No | Whitelist No | Restriction for countries No
Soft cap 20,000 ETH
Hard cap 420,000 ETH
Price 1 ETH = 500 BKX
Acceppting BTC, ETH, WAVES, TIME, Lightcoin, SALT
BANKEX news, social
BANKEX search trends in Google
Random whitepaper excerpts

7.4 Originator/Supplier interaction in the
ecosystem architecture . . . . . . . . . 29
7.5 Bank & non-Bank Originator/Supplier 29
7.6 Use of Microsoft Azure Bank API . . . 29
7.7 Large data volume hashing in the Mi-
crosoft Azure Storage . . . . . . . . . 29
7.8 Soft and Hard Commitment assign-
ment rules . . . . . . . . . . . . . . . . 29
7.9 Bid & Ask records independence prin-
ciple . . . . . . . . . . . . . . . . . . . 29
7.10 Decentralized Order Book rules . . . . 29
7.11 Decentralized matching pros and cons 29
7.12 Offchain Settelment Control . . . . . . 29
7.13 Settelment directions . . . . . . . . . . 29
7.14 Formula 1: saturation of request with
data in a blockchain environment . . . 29
7.15 Reasons for differentiation between or-
der and bid for Smart Assets . . . . . 29
7.16 Formula 2: solution for automated or-
der merging and separation . . . . . . 29
7.17 Formula 3: filter cascade system in the
Order Book . . . ...

1.3 Specification of Examples in
White Paper
All examples and demonstrations in this White Pa-
per are used only as demonstrative examples of the
SmartDeal technology. The business of BANKEX in-
volves manufacturing fintech products and tokenizing
primarily financial assets, although we do not think
it impossible to apply the Proof-of-Asset Protocol in
other fields, with approval from the BANKEX Foun-
dation in case of non-financial Smart Assets. In our
case, first and foremost we create liquidity for finan-
cial assets.
1.4 Game Theory Behind the Proof-
of-Asset Protocol
Game Theory
1
is a branch of mathematical eco-
nomics focusing on the outcomes of conflicts between
players, and the optimality of their strategies.
Game theory is one of the prime fundamental di-
rections in economics. 11 scientists specializing in
game theory have received the Nobel Memorial Prize
in Economic Sciences, including John Nash [4], [5],

(fintech, IT) companies on the market. It’s an excel-
lent solution to preserve and monetize clients.
How does an end client see it? Like a bank he
does not have to see the third party provider.
There exist several levels of integration of partici-
pants of the BaaS model: from primitive analogue in-
tegration, where an employee would have to re-enter
data into a separate service, to fully automated inte-
gration. The originator makes the choice of whichever
model of work with an end client is most beneficial
to him, either where the end client is shown that the
company he is interacting with provides services by
outside service providers, or where the end client sees
the entire product line under the originator’s brand.
Some researchers call this conception “The Lego
Bank” which owns no pieces but assembles the pieces
into different form factors. The constituent pieces are
all the same. It is how you put the pieces together
that makes the diffe...

They are concerned that upon close examination their
products will not be competitive compared to alter-
natives. They are afraid regulators would penalize
them for use of innovations in their base products.
Another important note is that decisions regarding
such risks are made by top-managers, most of whom
are more concerned with protecting their reputation
than introducing innovation.
Technological progress has presented us with so-
lutions to such issues organizing mutual trust of
participants in the system and trust in operations in
the system based on decentralized data storage and
automated smart-contracts.
Many professional market players admit that a de-
centralized BaaS business-model is an optimal path
to collaboration between classic banks and financial
companies with cutting edge IT companies and con-
tinually growing decentralized technological compa-
nies of the future.
Front service of clients remains in the hands of
the banks,...

Monolythic Architecture
UI
Business Logic
Data Access Level
Microservice Architecture
UI
Microservice D
Microservice A
Microservice B
Microservice C
DB
DB
DB
DB
Figure 1: Monolythic vs. Microservice Architecture
Node Management
Oracle
Web3j
Data
Oracle
Web3j
Client Node
Client Node
Client Node
Miner
Ethereum Network
Client Node
...
Miner
Client Node
Client Node
Client Node
...
Miner
Miner
Client Node
Client Node
...
Miner
Figure 2: Blockchain Microservice Architecture
6
...

balancing of the number of oracle instances is used.
Part of the BANKEX oracles is implemented on the
basis of Microsoft Azure cloud technologies, since it’s
one of the most bank friendly platforms. An example
of the protocol logic was realized through the interac-
tion with the signals from Internet of Things sensors.
But for the description of the BANKEX Proof-
of-Asset protocol the definition of the micro-service
architecture is not entirely correct. BANKEX team
calls it the
Blockchain Service Architecture
.
Blockchain Service Architecture
is a sequence
of smart contracts, every step of which can be cus-
tomized by a predetermined pool of actors validated
for the particular step of the included smart con-
tracts, while the contents of contracts in a step and
the number of steps are embedded in the business
logic necessary to tokenize the Smart Asset.
It is an asset tokenization constructor, but one
that only works in a sequence ...

Initial
Information
Additional
Information
Asset Owner
Smart
Contract
1
Smart
Contract
1.1
Smart
Contract
1.2
Smart
Contract
2
Smart
Contract
2.1
Smart
Contract
2.2
Smart
Contract
2.3
Smart
...
Contract
N-1
Smart
Contract
(N-1).1
Smart
Contract
N
Smart
Contract
N.1
Smart
Contract
N.2
Smart Contract
Veri

cation
IoT
...
IoT
Figure 3: Blockchain SA Smart Contract Chain
External
Data Sources
2.7 Liquidity Theory in the Context
of Tokenization
Liquidity of an asset is the ability to sell or buy the
asset quickly without significant change in its price.
Higher liquidity alleviates the trade-off between the
price of an asset it can be sold/bought for and the
speed of its sale. People...

publishing on the market. Tokenization is about asset
description, validation by oracles, asset price calcula-
tion, automated audit, calculation of cash flows based
on its price, execution of the SmartDeal.
One of the major reasons for tokenization of an
asset is the possibility to avoid fraud that may be
present in the case of classic digitization. A good can
be digitized but might also contain false information
in its description. Often it is difficult for an asset
owner to see the real information about cash flows
even if there is no intention to hide them. BANKEX
Proof-of-Asset Protocol provides the proof that an
asset and its cash flows are authentic.
We remind you that this BANKEX White Paper
uses examples and demonstrations only as demon-
strative examples of the SmartDeal technology. The
business of BANKEX involves manufacturing fintech
products and tokenizing primarily financial assets,
although we do not think it impossible to apply
t...

BANKEX Roadmap

1
2009
Igor Khmel understands the world of finances is about to go through global changes. In order to be able to make his contribution to them, he enters the Stanford University to study finances.
2
2010
Internship at Citadel Investment Group, one of the most profitable funds, where almost 100% of all employees know programming languages.
3
2012
A turning point in the vision of perspectives and opportunities for financial market development - meeting Tim Draper, future advisor of Bancor.Network.
4
2014
Igor Khmel convinces the head of the most profitable bank in Europe, Herman Gref to create the Sberbank Innovation lab, which Igor masterminds the lead of. Today it is the European leader in banking innovation.
5
2015
Igor Khmel meets Ilham Hatypov and Dmitry Dolgov, founding the BANKEX company as an extension of the fintech innovation lab.
6
June • 2016
BANKEX Fintech Lab begins to operate on a daily basis, founders of the company come to work in it full-time.
7
August • 2016
BANKEX creates the department of blockchain development, making friends with Sasha Ivanov - the creator of WAVES Platform.
8
September • 2016
The BANKEX team wins the blockchain hachathon organized by the Life.SREDA financial group, creating a solution for p2p trading deals based on the Telegram messenger, capable of conducting transactions on the Ethereum blockchain.
9
October • 2016
BANKEX begins interaction in technical fields with the ChronoBank project team, that holds one of the first successful ICOs at the beginning of 2017, releasing the TIME token.
10
December • 2016
Through 2016 BANKEX Lab succeeds in signing contracts with 3 banks and deployment of 3 fintech products on the market: KYC, deposit exchange, crowdfunding marketplace.
11
2016
Throughout the year BANKEX becomes the winner of more than 10 prestigious prizes and conferences in the fintech sector.
12
February • 2017
BANKEX and Microsoft sign a blockchain technological development partnership, receiving Microsoft Azure Sponsorship of $120000.
13
March • 2017
BANKEX Lab achieves operational profit for the first Product Owner of the BANKEX Proof-of-Asset Protocol ecosystem - the fintech subsidiary FinDelivery with a KYC Smart Asset.
14
March • 2017
BANKEX receives status of Securities Emission Advisor and becomes a Bank-as-a-Service platform. The BANKEX ecosystem is joined by six more banks. Additionally a strategic partnership is formed with the M-Deposit Stock Exchange.
15
April • 2017
Start of development of BANKEX asset tokenization business, the Proof-of-Asset Protocol is presented publicly and the first version of the BANKEX WhitePaper is created.
16
May • 2017
Rapid growth of the cryptocurrency market coincides with growth of BANKEX's team. BANKEX now counts over 50 employees worldwide.
17
May • 2017
Public acknowledgement of BANKEX — the company becomes one of the TOP-50 fintech companies worldwide.
18
June • 2017
BANKEX organizes the first proper fintech hackathon, where development teams invite banks to program together. Winners were awarded with preBKX WAVES tokens.
19
July • 2017
First achievements of the Proof-of-Asset Protocol: the product architecture is created, some of BANKEX's innovations are developed and tested, such as Blockchain Service Architecture, Smart Asset Tokenization, Smart Deal. The market reacts very positively. The Proof-of-Asset Protocol scheme is validated with global clients.
20
July • 2017
BANKEX releases PBKX tokens based on the Ethereum blockchain.
Pre Token Sale is concluded within two weeks with a result of over $1 500 000.
21
August • 2017
The BANKEX team receives an award from Vitalik Buterin as winners of the blockchain hackathon.
22
August • 2017
Igor Khmel's presentation at FinTech Week in London strengthens interest towards BANKEX solutions from business.
23
September • 2017
During the BANKEX Asia RoadShow: Shenzhen, Tokyo, Hong Kong, Singapore the company holds meetings with financial elites.
24
September • 2017
BANKEX business opened in New York, a partnership is established with American legal companies. BANKEX is joined by fintech titan and Bank-as-a-Service guru Chris Skinner.
25
September • 2017
Initial Smart Asset Offering beta version based on the Ethereum blockchain is launched.
26
October • 2017
We have released a Demo-version of our product, the Proof-of-Asset Protocol, which provides new sources of capital for real assets on a crypto-centric FinTech platform. We have created a MVP product, and it signifies a solution for business.
27
October • 2017
BKX TOKEN SALE - Fully compliant with US regulations, both private persons and institutions are eligible.
28
1Q-2Q 2018
ASSET-BACKED EXCHANGE BANKEX
29
2020
FINANCIAL BRIDGE FOR TWO WORLDS: CRYPTO & FIAT
Dmitry Dolgov
Dmitry Dolgov TEAM LEAD

Stan Sushko
Stan Sushko LEGAL & COMPLIANCE

Nauris Dauksta
Nauris Dauksta GLOBAL COMMUNITY MANAGEMENT

Maria Mikhaylenko
Maria Mikhaylenko Director of Risks & Analytics

Petr Korolev
Petr Korolev BANKEX Foundation CEO

Vitaly Dubinin
Vitaly Dubinin BANKEX Lab CEO

Constantine Kurbatoff
Constantine Kurbatoff Chief Strategy Officer

Nehemia Kramer
Advisors Nehemia Kramer ETHEREUM, EARLY-STAGE INVESTOR

Gabriele Columbro
Advisors Gabriele Columbro EXECUTIVE DIRECTOR AT SYMPHONY SOFTWARE FOUNDATION

David Wachsman
Advisors David Wachsman FOUNDER AT WACHSMAN PR

Chris Skinner
Advisors Chris Skinner CHAIRMAN, THE FINANCIAL SERVICES CLUB

Sergey Sergienko
Advisors Sergey Sergienko Founder at Chronobank

Peter Cramton
Advisors Peter Cramton Professor of Economics at University of Maryland

Igor Khmel
Igor Khmel
CEO
Nehemia Kramer
Nehemia Kramer
ETHEREUM, EARLY-STAGE INVESTOR
BankEx, Blockchain consortiums. NY, USA
David Wachsman
David Wachsman
FOUNDER AT WACHSMAN PR
Public Relations Advisor
Technical Advisor
PR Advisor
Communication Advisor, Founder & CEO Wachsman PR
Communication Advisor, Founder & CEO Wachsman PR
Chris Skinner
Chris Skinner
CHAIRMAN, THE FINANCIAL SERVICES CLUB
The Finanser
Advisor (Fintech), Innovate Finance, Moven and Meniga
CHAIR OF THE FINANCIAL SERVICES CLUB
Sergey Sergienko
Sergey Sergienko
Founder at Chronobank
CEO of Chronobank.io