The​ ​microeconomy​ ​is​ ​fundamentally​ ​underserved​ ​by​ ​the​ ​incumbent​ ​banking​ ​system.
Emerging​ ​technologies​ ​provide​ ​the​ ​opportunity​ ​to​ ​create​ ​an​ ​alternative​ ​that​ ​addresses
perennial​ ​problems​ ​of​ ​the​ ​banking​ ​system​ ​in​ ​new​ ​ways,​ ​including​ ​systemic​ ​risk,​ ​data
privacy,​ ​financial​ ​exclusion​ ​and​ ​sluggish​ ​competition.
Distributed​ ​ledger​ ​technologies,​ ​biometrics​ ​and​ ​machine​ ​learning​ ​provide​ ​us​ ​with​ ​the
tools​ ​to​ ​create​ ​a​ ​new​ ​kind​ ​of​ ​bank,​ ​global​ ​and​ ​decentralised,​ ​which​ ​can​ ​service​ ​and
empower​ ​individuals​ ​and​ ​businesses​ ​around​ ​the​ ​world​ ​in​ ​ways​ ​that​ ​traditional​ ​banks
simply​ ​cannot.​ ​Built​ ​to​ ​operate​ ​independently​ ​of​ ​legacy​ ​systems,​ ​this​ ​new
decentralised​ ​bank​ ​will​ ​serve,​ ​stimulate​ ​and​ ​galvanise​ ​the​ ​microeconomy,​ ​while
operating​ ​in​ ​full​ ​compliance​ ​with​ ​regulations​ ​around​ ​the​ ​globe​ ​as​ ​well​ ​as​ ​Fair​ ​Banking
principles​ ​.
BABB​ ​is​ ​the​ ​decentralised​ ​bank​ ​for​ ​the​ ​microeconomy,​ ​providing​ ​individuals​ ​and
businesses​ ​with​ ​a​ ​UK​ ​bank​ ​account,​ ​powered​ ​by​ ​blockchain​ ​technology.​ ​The​ ​account​ ​is
managed​ ​via​ ​a​ ​smartphone​ ​app​ ​and​ ​provides​ ​access​ ​to​ ​a​ ​decentralised​ ​payment​ ​card.
In​ ​addition,​ ​partnerships​ ​with​ ​central​ ​banks​ ​allow​ ​for​ ​the​ ​integration​ ​and​ ​issuance​ ​of
other​ ​digital​ ​currencies​ ​around​ ​the​ ​world,​ ​further​ ​stimulating​ ​local​ ​micro-economies
and​ ​expanding​ ​the​ ​reach​ ​of​ ​the​ ​BABB​ ​solution​ ​and​ ​its​ ​underlying​ ​BAX​ ​token.
BABB​ ​is​ ​already​ ​an​ ​FCA​ ​Authorised​ ​Payment​ ​Institution​ ​(API)​ ​and​ ​will​ ​be​ ​applying​ ​for​ ​a
Banking​ ​licence​ ​in​ ​early​ ​2018.