BAXE

baxe logo

Platform

BAXE aims to remove the barriers and complexities of the emerging cryptocurrency and blockchain ecosystems. Just as people with bank accounts know how to intrinsically use the checking account – BAXE aims to provide that same experience with blockchain. By reducing the complexity of using cryptocurrency exchanges, the BAXE experience will be seamless and intuitive by integrating features across the application.

Proprietary Technology

The BAXE infrastructure utilises the composability of the technologies in its stack to establish a handful of proprietary technologies. The team is currently in the process of acquiring three patents pertaining to this proprietary technology. The protocols under review include the decentralised ecosystem protocol, the decentralised user-self sovereign data protocol, and the digital identity and authentication protocol.

Decentralised Ecosystem Stack

BAXE uses a unique dual-token model that utilises the BSC token on a permissioned and the BMC token on public blockchain network-establishing a cross-chain communication between the two tokens. This protocol allows users to hold BMC public blockchain tokens in one wallet, and receive rewards in BSC tokens in a wallet on the permissioned chain. The permissioned chain will implement a unique proof-of-authority consensus mechanism to coordinate with the public blockchain. This back-end communication between tokens and unique blockchain networks powers the BAXE ecosystem, and makes payments within the app and in physical locations possible.

Decentralised Self-Sovereign Data Protocol

This innovation is oriented around a social media storage design that gives users control over all their data and metadata associated with messages sent from within the BAXE application. Message data will be stored on a separate ledger-based network, which only the user can facilitate the validation of that information. Examples of messages users will obtain control over include P2P chats, group chats, and social streams.

Digital Identity and Authentication Protocol

This innovation focuses on a KYC tiering, combining various KYC technologies,
and interoperability between different identification technologies. The protocol allows for a user to upload their government issued identification documents, verify their identity with biometrics, and include behavioural data of past transactions to establish a proven track record. This information and authentication can then be used to ensure the integrity of financial transactions and the financial system in which they occur.