Thanks to technology, almost every industry, and the business sector are completely changed from what it was a decade or two ago. However, the finance and banking sector, despite evolving to modern-age fintech based models, is still using outdated methods and tools for its daily operations. Banking institutions mainly rely on third-party intermediaries for a majority of their operations, which not only makes the banking a time-consuming process but also adds to the overall costs. Consequently, customers have to pay a hefty third-party fee, face delayed transactions, expensive inter-border remittance, and privacy breaches. Moreover, for some, especially those living in remote or underdeveloped areas, getting access to banking is virtually impossible.
As a result, more than 1.7 billion people still lack access to basic banking, mainly because the operations adopted by banks and financial institutions are still manual and need physical infrastructure.
BDAM, a project of the BDAM Foundation and a strategic partner of VelTrust strives to revolutionize banking and finance by deploying this market sector on a blockchain, and in doing so, create a decentralized financial ecosystem. It offers a vast range of financial products and services, including but not limited to BDAMX, a hybrid-architecture crypto-asset exchange, BDAM Pay, a decentralized payment gateway, a multi-coin supported wallet, BDAM dApp Store, a decentralized application store, and BDAM Coin, the native token of the BDAM financial ecosystem.
As per the roadmap, the BDAM Foundation has already released the Beta version of the BDAM Hybrid Exchange. With BDAMX, users will be able to seamlessly trade cryptocurrencies in Eth, BTC, EoS, and USDT markets, at a minimal trading fee, without having to worry about security, liquidity, or latency issues.
It is true that cryptocurrencies struggle when it comes to acceptability or utility. It is rare to pay for daily coffee, grocery purchase, or make online payments using cryptocurrencies. While it is true that cryptocurrency could be exchanged at a certain exchange, but that process is hectic and takes time. For example, a person has to wait for confirmation that it has been completed, then wait for the funds to be transferred to the nominated account, and so on. But who would actually do this to buy coffee or a grocery? With the BDAM Ecosystem, that changes instantly.
BDAM Pay and its associated products and solutions do all this for the client. From any cryptocurrency that is pre-selected by the user in the BDAM Pay App, BDAM Payment gateway carries out all communication and, ultimately, there is only one thing to convert and pay to the user, attach the smartphone to the NFC terminal and press go.
Moreover, with BDAM Pay, which is the first-ever EOS based payment gateway, consumers will be able to perform crypto-based transactions in the existing VISA, Mastercard, or UnionPay infrastructure. Merchant networks from across the world will be able to accept payments from customers, who will be able to instantly pay in certain large or in standard ERC20 tokens for any product or service on any POS-terminals (more than 42-millions of them are installed worldwide).
BDAM Foundation is also working on offering a dedicated store and providing tools for decentralized applications, i.e., dApps. This dApp store will support applications similar to those deployed on Google Play Store or Apple App store but with the difference that all applications would be decentralized. It will serve as an entire marketplace for decentralized applications, where users get access to authentic applications while developers are fairly rewarded for their contributions. The platform will implement a smart mechanism to showcase dApps based on trusted application data analytics, community reviews, and user comments. With BDAM App Store, the BDAM Team aims to be launch a developer-friendly, data-driven blockchain application ecosystem that will help users to discover and use decentralized applications without any barriers through a decentralized multi-chain identity network.
From a consumer perspective, the BDAM dApp store will allow decentralization of the applications, so no more single point of failures, manipulated reviews. From a developer’s perspective, this would enable software kits and development modules while also offering an existing customer base, to whom the developers to quickly and thus reduce the hefty marketing costs and tedious development periods of marketing and development.
The potential and target markets for BDAM and its ecosystem is endless. The leadership team has the vision to expand its range of service to more business sectors further, e.g., travel, real estate, gold, and precious metal. In doing so, it strives to allow the tokenization of these businesses, helping the respective consumers to get liquidity and convenience at the minimal costs. Moreover, as all transactions happening within the ecosystem are done in BDAM Coin, this will help the value of BDAM Coin to grow as the financial ecosystem grows.
To know about the project more, please visit our website http://www.bdamcoin.com/ and read the BDAM white paper today.
Currently, the BDAM Project is offering a private round token sale whereby prospect investors can purchase tokens at a discounted pricing. If you are interested, please visit https://bdamcoin.com or send an email to email@example.com to know more!
Telegram Group: https://t.me/bdamcoin