Written by Zach Quezada

VP of Business Development — ICOAlert
February 7 2018

BnkToTheFuture (BFT) — ICO Alert Report

BnkToTheFuture (BFT) — ICO Alert Report

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ICO Alert Quick Facts

  1. Online investment platform for Fintech, Bitcoin and Blockchain companies
  2. $0.10 = 1 BFT token
  3. February 16, 2018 — Ends when hard cap is reached
  4. 30,000,000 total available / 1,000,000,000 total supply
  5. A community with 50,000+ accredited investors

What is BnkToTheFuture?

BnKToTheFuture is the largest online platform for investing into Fintech, Bitcoin and Blockchain companies, hosting community of around 50,000 accredited investors with investments in some of the most valuable companies in the sector including BitStamp, Kraken, BitFinex, BitPay, Shapeshift and over 100 others.
— Simon Dixon | CEO & Co-Founder

Q&A with

ICO Alert: How does the BnKToTheFuture BF Token (BFT) function within the platform and why is it needed?

Dixon: We launched the BF Token with three uses in mind:
(1) Membership Token — BFT can be staked to gain priority access to deals for our qualifying investors.
(2) Rewards Token — BFT can be staked to receive additional tokens as a reward for conducting to due diligence and investor relations.
(3) Payment Token — BFT can be used to pay trading fees on our planned security token market.

ICO Alert: You claim to have “built the largest community of high net worth investors investing online in FinTech, Bitcoin and Blockchain”. Can you outline a few statistics to back up this declaration?

Dixon: We have over 50,000 accredited investors and almost $300,000,000 has been invested into funding rounds listed on our platform. Today everybody is issuing tokens and it is next to impossible to get equity in any of these companies. We have invested more into the equity of Bitcoin and Blockchain companies online than any platform we know of, making us the largest in the sector.

ICO Alert: Can you detail your examination and vetting process for potential companies being listed on BnKToTheFuture?

Dixon: There is an initial application where the companies upload their documents and brief details. We are unable to work with 95% of the applications at this stage. We leverage the due diligence of professional venture capital investors and tend to co-invest on the same terms as the venture capitalists. Before they list they have to go through our US broker dealer and complete full due diligence with a third party legal team if they wish to accept US investors and then the due diligence of our non-US securities business. Once listed our investor forums are very active for each deal and they have to stand up to the questioning of our investor community with a wide range of experience. With our BF Token we aim to incentivize the community to get involved in the due diligence before listing, and improve on on-going investor relations through our BFT rewards scheme.

ICO Alert: Are there specific limitations for potential users seeking to invest on your platform, such as accreditation, yearly salary, etc..?

Dixon: Yes, to invest through the platform, a person must be a qualified (accredited if from the US) investor. The definition of qualified varies in every jurisdiction and we have a custom process for on-boarding each investor depending on their country of residence. We also have quizzes where investors can prove their sophistication and understanding of the risks as permitted in certain jurisdictions.

ICO Alert: The increase in the # of security tokens has been a hot topic in the cryptocurrency community, lately. What is BnKToTheFuture’s stance on these dividend yielding tokens and do you plan on listing them on your platform?

Dixon: We are a securities business with registration in multiple jurisdictions and registered with CIMA. We are shareholders in a FINRA and SEC registered US broker-dealer and SEC registered Alternative Trading System (ATS). We were originally setup to offer securities before tokens existed and we look forward to using our registrations to help move the securities token market forward including the launch of our securities token trading market in 2018. We also purchased many of the early tokens like MaidSafe, Storj, Counterparty, Matercoin and Ethereum. Our goal is to ‘Make Equity Great Again’ after the ICO boom where we believe more and more will want the liquidity of ICO’s with the right of shareholders. We feel we have the right mix of experience to achieve that goal uniquely.

ICO Alert: Liquidity is a major issue for many tokens on the market currently. How will BnKToTheFuture seek to eliminate any potential problems for users that may arise due to low liquidity.

Dixon: We are shareholders in the some of the most liquid crypto exchanges in the world and we see and learn a lot. Our long term goal would be to support the growth of these exchanges while developing our platform in a compliance-driven way with securities laws in mind while maintaining as much of what makes a crypto exchange liquid. We feel we are perfectly positioned to bring that together and potentially unify many of the liquidity providers.

ICO Alert: Can you go into detail on why you feel creating a transparent market is an important issue worth solving? While blockchain provides for this transparency, it has shown lacking in scalability. Are you concerned that this lack of scalability will affect your platform’s performance?

Dixon: We are overwhelmed by the sheer volume of applications for investment we receive today. It is our full time job to keep up-to-date and we still cant so we launched the BF Token to involve more users in the process of conducting due diligence and rewarding users for their work to make us more scalable. Blockchain scalability is also another challenge when using tokens to represent assets. We are confident our industry will overcome scalability through and leave that one to the Blockchain development community while we use their Blockchains rather than trying to build our own which is not our core competence. We believe Bloclchains will become interoperable and clear winners will prevail and we think moving between Blockchains will get easier as scaling solutions evolve. We also look forward to watching lightning networks, sidechains and other solutions as well as comparing these solutions to chains with bigger blocks and different solutions as the market evolves.

ICO Alert: How far along is the project today and when can contributors expect to use the platform? Please feel free to share any recent updates.

Dixon: The BnkToTheFuture.com platform spend 4 years acquiring the necessary registrations to comply with international securities laws. We started in 2010, but launched the platform with the global compliance-driven model we use today in 2015. BF Token holders will be able to use the BF Token to contribute to investor relations as soon as the token is launched and the due diligence part of the platform will evolve throughout 2018. Qualifying members that stake BFT will be able to access deals before others as soon as we launch the token too. Our securities trading market is set to launch in Q3 2018 and the goal is members will be able to pay their trading fees using BFT.

ICO Alert: As a non-BnKToTheFuture question we like to ask for unique predictions for the ICO and crypto currency space in the future. Where do you see both in the next 3–5 years?

Dixon: I think tokens are not going away. There will be lots of regulatory enforcements in the years to come though and in the end the market will look like Bitcoin does today. Bitcoin has a booming peer-to-peer decentralised market and a booming KYC compliance-driven market when converting to fiat. ICO will go through a similar path — a booming decentralised anonymous peer to peer asset ownership market and a booming compliance-driven token market that considers securities laws. Both will exist and both will consume traditional finance. I don’t see any of the large unicorn Bitcoin and Blockchain companies doing an IPO, they will all be traded securities tokens in the future is my forecast. Bitcoin set off a wave of disruption that will affect the future of finance forever. That’s the mission we signed up to and will continue to support in every way we can.

Pre-ICO
The Pre-ICO was completed on February 1, 2018. There were a total of 300,000,000 BnkToTheFuture tokens (BFT) available during this period, representing 30% of the total BFT supply. A hard cap of 300,000,000 BFT was set for this period.

ICO Information
The main ICO will begin on February 16, 2018 and will end when hard cap is reached. There are a total of 30,000,000 BnkToTheFuture tokens (BFT) available during the main ICO, representing 3% of the total BFT supply. A hard cap of 30,000,000 BFT is set for this period.

$0.10 = 1 BFT token

Current accepted currencies for BnkToTheFuture include ETH.

BnkToTheFuture is an ERC-20 token, so it’s important that contributors use ERC-20 compatible wallets to send funds to the ICO smart contract, and to receive the BnkToTheFuture tokens.

Token Distribution Information
There are a total 1,000,000,000 BFT tokens being created, with 30,000,000 available during main ICO.

Contributors will have their tokens distributed shortly after the completion of the KYC process. Visit the BnkToTheFuture website for more information and the contribution address.

Allocation

Roadmap

Team

Social Media
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Twitter
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YouTube

View the BnkToTheFuture website here.

View the only comprehensive list of active and upcoming Initial Coin Offerings (ICOs) here.

References

  1. BnkToTheFuture Website, BnkToTheFuture (2018)
    https://bf-token.bnktothefuture.com/#!/
  2. BnkToTheFuture Whitepaper, BnkToTheFuture (2018)
    https://bf-token.bnktothefuture.com/pdf/whitepaper.pdf

Topics: Blockchain, ICO, Fintech, Finance, Cryptocurrency