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BFEX (BFEX) ICO Review – ICO Token News


In a world where equally access utility is yet to become everyone’s reality, many organizations are paving their paths to making equality their mission. Establishing ourselves as a social enterprise, we intend to tackle the issue of limited access to financial resources. The BFEX team has cautiously chosen the greatest of minds and members of the same value in order to contribute and make a great impact on the financial industry. We are introducing BFEX, not as merely a business enterprise, but a social enterprise with a personality and a vision to create a world with seamless financial accessibility. Our mission is to provide equal financial access for all by developing a more widely accessible financial platform, and in turn, disrupting traditional financial institutions. BFEX aims to utilize blockchain technology, big data, and Decentralized Social Trust Credit Scoring (DSTCS) to decentralize peer-to-peer lending. Our vision is to develop a sustainable financial system where people can freely access the financial pool needed to improve the quality of their lives and contribute positively to society.

Banking Future Exchange (BFEX) is a FinTech company, established with the intention to provide equal financial access for all by developing a more widely accessible financial platform, and in turn, disrupting the traditional financial institutions. This innovative solution was designed by a group of experts in finance, technology, banking, and business management from both developing and developed countries. BFEX aims to support funding under the concept of nano-finance in order to help boost economic prosperity globally. Our operations are conducted via blockchain technology of which its trustworthiness, transparency, and security can be assured.

Industry Analysis

Since 2016 FinTech has been in the center of attention, with its platform being utilized as a means of financial transaction and as a versatile platform that covers a wide range of other business transactions. Whether it be for buy-sell purposes or online businesses like E-Commerce, it has been a crucial solution in enabling financial accessibility for the general public. Other functions include complete and secure epayment transactions, online banking, crowdfunding as well as the world-changing blockchain technology which is the current foundation of cryptocurrency disruptive phenomenon. One of the revolutionary developments observed in FinTech, a great opportunity for initiating business and a possible high-return investment in the future by many investors, is peer-to-peer lending (P2P). According to the Director of P2PFA (UK Peer to Peer Finance Association), Robert Pettigrew, peer-to peer lending platforms have observed distinct growth in 2017 of £836 million by the last quarter.5 The significant growth represents BFEX’s opportunity to permeate the UK market, due to its wide acceptance and trust in the platform.

Peer-to-peer lending offers more confidence in the financial industry from the public’s perspective. The differences between credit management with the use of a credit scoring system compared to data analysis by credit bureaus are as follows. Credit bureau merely collects loan records from various sources, such as historical payment entries and credit status, while credit scoring integrates detailed information or retrieving information from big data including age, occupation, level of education, and place of residence in order to get a more accurate and sensible credit analysis. In other words, the latter system is more likely to represent the actual identity and situation of the borrower. In addition, the system gathers and generates data by utilizing artificial intelligence and machine learning to verify the identity of each individual (KYC; Know Your Customer). This enables the service provider to see the borrower’s spending behavior and accurately assess risk management. This is why P2P service providers have been able to effectively manage their customer bases and perpetually achieve 20-40% annual growth rate according to our analysis.

Decentralized Social Trust Credit Scoring (DSTCS)

During the past 10 years, the abrupt change of pace in the world has resulted in prominent effects on many aspects of the economy, society, financial industry, banking, and technological development. Technological development contributes as one of the most influential factors for the rapid transformation of businesses and industries, as well as consumers’ behavior and their lifestyle. As time changes, many things that might have worked in the past might not work in the present and the future without modifications. For instance, countries that have implemented credit scoring in their banking and financial systems are now encountering issues. Due to the fact that the existing system is has become irrelevant to the lending process, a transformation is now unfolding. This is seen through the report of credit gaps on SME and individuals’ inability to access financial resources which leads to informal debts in recent years for both for households and business sectors. This continuing problem has become a threat to the country’s development. These difficulties have shown that the credit scoring system currently used is not effective, causing many borrowers to turn to loan sharks that charge excessively high interest rates. According to our interview with a financial analyst, the number of people that fall out of the obsolete system has continuously grown 20% – 40% or more in some countries every year.

One outstanding factor of this distinctive growth is the ability to issue an agreement between the debtor and the creditor. As a result, the chance of bad debt or questionable debt occurring is drastically reduced. However, without the concerned government agencies’ supervision, it may negatively affect the overall financial system in the long-term. Realizing the state of affairs, BFEX has chosen blockchain technology to help ease these problems. With Decentralized Social Trust Credit Scoring (DSTCS), a transparent and open for audit system, both the debtor and the creditor could benefit from using this innovative system. One outstanding feature of DSTCS is its algorithm which enables BFEX users and BFEX Community to design credit scoring criteria by themselves. The system also welcomes other businesses and enterprises, such as loaning and leasing enterprises, wishing to acquire DSTCS data to connect their systems in the future.

Token Sale and Distribution

BFEX generates its tokens through ERC223 on the Ethereum currency platform, which is the most widely used and secure blockchain network. The BFEX ICO tokens will be developed and used as the common currency for services on the BFEX platform. Check ICO list to know more about ICO.

Current Token Supply: 210,000,000 Tokens

Prices range between 0.3 – 0.5 USD / 1 Token

Hard Cap: 36,000,000.00 USD

Soft Cap: 12,000,000.00 USD

Pre-sale (20% Bonus)9,000,000

Launch Date : May 1, 2018; 7 pm SGT

End Date : June 28, 2018; 12 am SGT

Public Sale (10% Bonus) 6,000,000

Token Sale : 60,000,000 Tokens

Launch Date : July 1, 2018; 7pm SGT

End Date : August 31, 2018; 12 am SGT


  • Daniel Jaeger
    Daniel Jaeger
    Daniel Jaeger
  • Joseph Swartz
    Joseph Swartz
    Joseph Swartz
  • Sam Roberts
    Sam Roberts
    Sam Roberts
    Technical co-founder and CTO
  • Irin Chunsuntorn
    Irin Chunsuntorn
    Irin Chunsuntorn
    International Business Development
  • Wilson Thong
    Wilson Thong
    Wilson Thong
  • Huan Johnson Koh
    Huan Johnson Koh
    Huan Johnson Koh
  • Shankar Biswas
    Shankar Biswas
    Shankar Biswas
  • Kaushik Bhaduri
    Kaushik Bhaduri
    Kaushik Bhaduri
    Technical Advisor
  • Nilanjan Banerjee
    Nilanjan Banerjee
    Nilanjan Banerjee
    Technical Advisor


  • 1
    2018, Q2
  • 2
    2018, Q3
    Public sale.
  • 3
    2018, Q3
    Listing on exchanges .
  • 4
    2018, Q4 - 2019, Q1
    P2P Platform Development; BPAY Development: E-Wallet, Partnership.
  • 5
    2019, Q2
    Alpha Test: P2P Lending Platform, BPAY
  • 6
    May 16 - June 30
    Beta Test: P2P Lending Platform; BPAY.
  • 7
    2019, Q3
    BFEX Official Launch: P2P Lending Platform (Token Model); BPAY.
  • 8
    2019, Q4
    API Connection with 3rd Party.
  • 9
    2019, Q4 - 2020, Q4
    P2P Lending Platform (Fiat currency integration).

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