Hi guys this update has been long overdue, we have been flat out working and traveling to bring our vision to light.
So what has been happening?
We have added new advisors in key areas mainly in Africa
Segun Akintemi is an exceptional top manager with over 30 years of experience in financial analysis, risk management and strategic planning, he has worked as a CEO in one of the top 5 banks in Nigeria, now ??EO at Page International Financial Services Limited. We are working with Segun to build relationships in Nigeria to distribute more affordable commercial lending products.
Honorable Wavinya Ndeti
East Africa Strategic Director
An experienced computer scientist and political leader in Kenya. Honourable has connected us with financial institutions in Kenya, we are working very closely to build a strategic partnership in the area. Following our trip to Kenya Honorable has been working with us to build our campaign in Kenya our tea has been invited to return to Kenya and present our project to a commercial bank in the area
??rypto-journalist, technical writer.
??o-founder of the news agency Illuminates today, professional crypto journalist and analyst, blockchain-evangelist and investor, professional miner since 2015. Alena has joined us to add her media skill set and promote the Block Bank Project within the Crypto community. Her media outlet has worked closely with us when we were in Ukraine recently.
New back office.
We have developed a complete new back office and members area. This will improve our user experience other key features are the KYC portal all users now have facilities to submit KYC and purchase tokens with BITCOIN, ETHEREUM, LITECOIN, DASH, BITCOIN CASH and Fiat. Our website now has capability to allow users to purchase direct with debit payment cards. This feature will allow our token to be more available and liquid as we enter the final stages of our ICO. If you havena��t already logged in to our new back office and see for your selves. https://theblock-bank.com/login
Our Ugandan License has been provisionally accepted we have been invited back to sign off with the central bank of Uganda. On the 4th of may we will meet with our representative and the licensing director to finalise the process. Once signed off we will be eligible to trade as a licensed institution under supervision for6 to 12 months depending on our progress through the on boarding process. This is a key milestone for us as we have had to provide additional information on our proposed activities.
St Vincent and the Grenadines.
After Speaking with our representatives in St Vincent we have been told our license is still under review. Due to the nature of our business the regulator has stressed they needed further information and to consult advisors on their side. Unfortunately we cannot push or speed up this process we have been assured it is just procedure and to remain payment we are still confident that we will receive our license there and to request update on the 1st of may 2018.
Our team is currently working on the affiliate system which will allow users to generate income distributing commercial lending products. The project manager Juslin Gaskin has designed a system and is working with a uk based team to build the technical framework we hope to have a MVP in the next 2 weeks to share with our community for feedback. We want the element of block bank to have as much input from the community as possible. Making the system better support the communities using it.
Launch of commercial lending website MVP.
The Commercial lending site http://WWW.BBCL.IO is online
Volodymyrs team in Ukraine are working hard to complete the Commercial lending data submission system. This will be the first component for data collection for lending application information for our block chain. The test unit can be viewed at the following link http://stage.theblock-bank.com This is a work in progress. The data collected here will be submitted directly to our core banking system minimizing costs allowing users to benefit from lower rates.
Our core banking software is midway in its calibration the next stage will be integration with payment gateways and the lending website API and back office system. We plan to connect the core banking software with our exchange which is under development with Block Ex. We hope to be able to provide a demonstration in the coming weeks, as to how the system will operate.
Following our meeting with Swift on the 12th of April we had some excellent feedback as to what level of access we want and the options regarding the corporate structure we will implement. We are getting the correct legal framework in place and will then begin the onboarding process in the next 2- 4 weeks. The swift team provided a lot of key information you could not get from the website and valuable insights.
Institutional sale of tokens
We have secured institutional partners to sell and distribute tokens. Over 19 million BBRT tokens have now been sold to institutional investors. As part of this sale we have acquired a secondary funding source which will be disclosed once all legal requirements have been finalized. Block no has 3 sources of funding for our lending operations and we are working on more partnerships. Further information will be disclosed in the near future.
Listing and launchA�
It is our objective to have tokens listed on the 28th of June 2018 and the banking system able to distribute our first round of loans on the 29th July so far everything is on track to deliver our goals.
I know this update has been delayed I will do my best to keep you all updated with progress everyone is working hard to bring Block Bank to life. Thank you again for all your support. If you have any questions get in touch in our community group or our email Info@theblock-bank.com