Banca is a decentralized community investment banking project using blockchain technology, facilitated by Big Data and Artificial Intelligence (AI) with the goal of transforming legacy financial investment platforms into the blockchain realm. Traditional Investment banking services within the financial industry are deemed too centralized by design and management making them prone to human influence. The purpose of Banca is to create a shift in investment power from banker to individual or corporate consumer by creating a decentralized community that will be the foundation of all future investment banking service models.
HOW DO I EARN?
The Banca platform is a next-generation community driven investment banking platform that provides a variety of fintech microservices using blockchain technology and consequently does not lend itself to revenue-based cryptocurrency loan platforms that offer a passive income stream. As a result, participation in the ICO and thus holding of associated token/s for future wealth accumulation, cryptocurreny/fiat markets, or access to the various proposed microservices are the only options available to the investor.
ADDITIONAL INFO⦁ Total supply of 20,000,000,000 BANCA coins (Twenty billion)⦁ The BANCA coin will be priced at 1 Banca = $0.003 a piece and will only accept ETH.⦁ 7,000,000,000 (seven billion) BANCA coins will be for sale during the presale and ICO crowdsale.⦁ ICO start date is on 26-February, 2018
Banca | Whitepaper | Telegram
P R O S
The Banca’s Development Team showcase a wide spectrum of highly professionally skilled decentralized talent from Wall Street to Silicon Valley drawing from disciplines such as actuarial science/business analytics, investment banking to applied artificial intelligence systems. It demonstrates on paper a sound business model that is well equipped for governance, marketing and public relations to technology development. Additionally, the inclusion of team member profiles, advisors and respective company role further reinforces the scale of qualified professional depth invested towards the realization of investment banking business of digital currency. It is acknowledged that such disclosure and reference can only add further confidence within the cryptocurrency community.
Banca’s concept as a decentralized intelligent community investment bank is based on the technical implementation and integration of three key areas: blockchain technology, artificial intelligence (AI) and big data processing.
The implemented private blockchain technology and smart contract integration with the Ethereum Smart Economy has undergone design and verification testing using available Testnet resources with the proposed design concept and architecture briefly and in a diagrammatic context.
Banca’s custom artificial intelligence is fundamentally based on two components: Deep Learning (i.e. Big Data Processing Framework) and Recurrent Neural Network-Based (RNN) Prediction Models. The reason for adopting the RNN models quite clearly is that is very time sensitive and particularly well suited to the dynamic nature of financial data. In terms of operation, the system predicts accurate future movements of tokens by mining hidden information (using Kafka Streaming and Hadoop) from historical transaction data and from deep behavioral records. The main goal of the deep learning in this context is to learn multi-level features and to create more abstract high-level representations that can be easily interpreted to discover the distributed representation of the data.
An additional layer to the Banca platform is a smart rewarding system known as the AI-based Contribution Metric (ACM). Fundamentally, the ACM fintech is the successful integration of attention-based Artificial Neural Networks with Pagerank Models to measure and intelligently rank the importance of available search queries with relevant financial information and services. In the simplest terms, ACM is a processing algorithm that uses machine learning to bring back the best match to your query when it isn’t sure what that query “means”. The benefit of this relevance-based technology is that it effectively explores the entire online content at command, including retrieval of relevant querry-data, interpreting and presenting it for you, elegantly and very easily. In essence, it intelligently links the client end user and matches users with vendors more efficiently.
Banca’s investment platform operates its own private blockchain for transactions using BANCA utility token, which is designed to pay for both network and the before mentioned access to investment and microservices it provides. At the time of writing the Banca Coin is the representative token developed to ERC20 standards. These standards ensure that interactions, exchanges, smart contracts and wallet storage are seamless, secure, swift and straightforward, across all token platforms. This standard is stable, strong, and has been widely adopted.
The widespread adoption of the ERC20 framework across multiple token platforms also means that any tokens built to the ERC20 standard can be easily and instantly listed across multiple exchanges with nothing more than the token contract address. The same applies to the listing of any and all ERC20 compliant tokens in one wallet, providing a centralized point of access for all your cryptocurrencies. Due to its widespread use in token creation and distribution at this time, therefore, as well as for the other conveniences outlined in the paragraphs above, ERC20 was deemed the most appropriate solution.
BANCA’s open platform design has the ability to further develop by offering fintech based products through APIs or as seed applications. At the forefront of this development is CoinAI, a fintech application built using ANN, smart beta market timing models that provides cryptocurrency quantitative analysis, medium-term forecast and an asset allocation system. Whatever the client’s experience is in data analysis, COINAI provides an in-depth analysis of digital tokens and compares the investment value and risk of different currencies. Now fully implemented this crypto-tool provides an additional analytical layer to an already functional asset management portfolio.
REAL LIFE USE / APPLICATION
BANCA’s real strength is the fintech made available within the community, application to conduct instant transactions to material and microservices that leverage within in artificial intelligence and Big Data based investment banking community, which include a unique cryptocurrency bot advisory service, cryptocurrency investment research, rating service, trading strategies, ETF and derivatives, risk management outsourcing, foundational services etc. With those technologies, the community will be more accurate in recommending relevant service providers for clients, provide more useful data and information for specific client’s needs. The performance evaluation process is smart and dynamic and its result will decide the community’s rating on cryptos and service providers and the bonus level each service provide can get in return for his or her work. Clearly, this is particularly advantageous as it would enable the end-user to capitalize on the full spectrum of investment options.
TOKEN SUPPLY & DISTRIBUTION
In order to further develop and promote the BANCA platform, a token generation event (TGE) offered for sale 7 billion BANCA tokens out of a 20 billion total supply. The proceeds of the TGE will be allocated with 35% in presale and ICO, 17% in Research and Development, 18% Marketing and Operations, 12% early investors, and 18% to team members with a 3-year vesting schedule. This phase of the project presents a clear strategy for future growth of the platform within key areas, and ultimately ensures the longevity of the BANCA token value.
• MINIMUM PURCHASE PRICE / NUMBER OF COINS
Since the BANCA API System utilizes the Ethereum ecosystem, participation in the ICO has been entirely limited to ETH tokens. This strategy has been employed to in part maintain the significance of ETH as cryptocurrency but to also solidify the synergetic relationship it has with the BANCA fintech products and solutions.
C O N S
CUSTOMER SUPPORT / COMMUNICATION
In order to gain community support and ultimately acceptance for any crypto-currency based platform, particularly with one that applies itself to investment banking requires a high-level of communication and commitment towards community awareness. Unfortunately, the delivery of the platform has suffered on some levels that span from website layout and content right through to the white-paper release. It evident that the information released has only provided a generic overview of the project and about blockchain rather than a detailed description of proposed implementation. Additionally, the limited use of available social media platforms that the business development team utilize and the depth of knowledge contained within only acerbates the problem and highlights the discontinuity between team and investors.
Banca’s Project White-Paper demonstrates a typical top-down approach to project content that has been hindered by content choice. The introductory content is vague and overly generalized dealing with concepts and technology (e.g. Investment Banking and BlockChain) without addressing platform specifics. Intermediate concepts of platform design, architecture (e.g. smart contract type) and technical advantages are briefly discussed in a generalized overview rather than of a specific nature. More advanced concepts dealing with artificial intelligence such as Deep Learning and Recurrent Neural Network based predictive models that are core to the platform are overly reliant on mathematical theory, corollary’s and pseudo code. The format of the established theory from academic publications overly complicates the subject and thereby limits the understanding to a few of that level. Finally, the debut of prototype seed applications such the developed COINAI is showcased briefly demonstrating the capability via GUI snap-shots for future trend prediction of tokens based on artificial intelligence and big data. Overall, the presentation and content overlap is sound with mixed approaches detail, however it subtly avoids a crucial piece of the puzzle, that is the type of decentralized platform that runs smart contracts it intends to integrate.
OUR RATING (4 out of 5)
Banca presents an ambitious and technically challenging project as a decentralized, intelligent community investment bank. It is both a hybrid product of blockchain technology merged with big data, artificial intelligence and finance. The array of interdependent AI, Investment and Financial technologies (e.g. CoinAI) available within the community is an important part of what makes Banca Coin such a special token. In addition, the open platform design enables external fintech groups to participate within the community, offering services through access to relevant APIs. Overall, Banca presents a “diamond-in-the-rough” that has the potential to be shaped and polished into an exciting platform catering for a wide spectrum of investors with different experience levels.