BITEX

BITEX: THE FIRST LOCALLY-EMBEDDED, YET GLOBAL, CRYPTO-BANK

Since their inception, cryptocurrencies and their value have grown in leaps and bounds. Such is their growth that there are thousands of different cryptocurrencies in existence today. Cryptocurrencies were created to take power off the centralized financial system of today’s world, consequently giving individuals power and control over their funds. However, for cryptocurrency to become popular and competent, it has to match and even surpass the abilities of already established and universally accepted fiat currencies. Cryptocurrencies should be easily used in our daily transactions, even in commerce. Yet, until now, the full benefits of cryptos are still not actualized. Cryptocurrencies, at the moment, can only be exchanged between currencies (fiat/crypto and crypto/crypto). For cryptocurrencies to outdo fiat currencies and become well and fully used in commerce, i.e., as a choice medium of exchange for goods and services, institutions that can fully tend to the transactional needs of cryptocurrencies have to be set up. These institutions should be able to perform services that traditional banks can do. They should be able to store cryptocurrencies, enable exchange between currencies, automate bill payments, use currencies for payment of good and services, etc. These, and many more, are what Bitex offers. Bitex even goes beyond the conventional bank by offering services that include:
• a decentralized, distributed and immutable ledger which cannot be affected by any single point of failure or compromise.
• a global scale, unhampered by national boundaries, although subject to national/local laws pertaining to banking and finance.
• the ability to conduct escrow payments through cryptography rather than traditional, time consuming payment methods.
• the ability to carry out pseudonymous transactions between parties where trust is captured through cryptographic means rather than written contracts or external supervision.
• include cryptocurrencies as equal partners to fiat currencies in transactions between individuals, individuals and businesses, and between businesses.

The Bitex crypto-banking solution was created to also benefit those that are poorly or not served by traditional banking system. This new cryptobank will re-establish the very purpose for which a bank was created in the first place (an institution that helps the economy function and grow by providing a way to manage savings, provide means for payments and money transfer, and facilitate loans). The Bitex has identified the Asian and Middle East markets as they are growing and, from notice, need a robust cryptocurrency based financial system. It is thought that, the impact of the Bitex platform will be best demonstrated in these markets. I, urge you to visit the Bitex whitepaper at https://ico.bitex.global/docs/XBX-Token-WhitePaper.pdf?utm_source=bct&utm_medium=sig&utm_campaign=sig_v2 for more details on this project.

FEATURES OF THE BITEX CRYPTO-BANKING PLATFORM
• EZBitex: the currency exchange and banking infrastructure with a decentralized, distributed and immutable ledger provided by Bitex, which underpins the functioning of the entire system
• BitexPay: the next generation payment solution for both consumers and merchants.

BITEX CRYPTO-BANKING PLATFORM BENEFITS
Benefits for consumers
• Customers can maintain their own crypto-wallets on their mobile devices. Note that, no private keys are shared with the ExBitex platform.
• Storing of other customer wallets on the Bitex platform as well as using the platform only when needed will guarantee the security of customer assets from hacks. In the near future, Bitex also plans to encrypt development source code and also use PCI Standard Certification for security.
• Consumers will not be denied the ability to buy cryptocurrencies in any exchange using credit cards form third parties that are “Powered by Bitex” or their BitexPay debit cards.
Benefits for merchants
• Merchants can receive payments via multiple options (a mobile EZBitexPay App, QR codes, card readers).
• Online merchants can add BitexPay as a payment option to their e-commerce portals.
• Simple merchants such as street vendors can use their mobile device as receiving wallet.
It is important to know that $2.76 million has already been raised via the sale of Bitex franchise licenses to partners in 12 countries, and will be used to create the local infrastructure needed to support the EZBitex banking platform.

BITEX TOKEN (XBX)
The Bitex token (XBX) is ERC20 compliant on the Ethereum blockchain and is of 18 decimals, with a token contract address of 0x2c745664FB4e9528fB32487D834e4aACffF1F027.

TOKEN SALE DETAILS
Note that the token sale will be conducted in two phases (Pre-ICO and main ICO).
Total number of XBX tokens issued: 300 million
Total number of XBX tokens available for private sale: 210 million
Start date: 5/25/2018 (3:35 PM)
End date: 6/30/2018 (4:00 PM)
Softcap: 1 million XBX sold in both phases of the ICO
Minimum investment: 0.1 ETH
Maximum investment: 1 million XBX tokens during the ICO
The price of an XBX token for purchase during the token sale will be based on the following ETH/XBX exchange rate:

USD/XBX exchange rate: $0.5 = 1 XBX (Pre-sale of ICO 7 weeks)
USD/XBX exchange rate: $0.7 = 1 XBX (ICO main stage 1st week)
USD/XBX exchange rate: $0.8 = 1 XBX (ICO main stage 2nd week)
USD/XBX exchange rate: $0.9 = 1 XBX (ICO main stage 3rd week)
USD/XBX exchange rate: $1.0 = 1 XBX (ICO main stage 4th week and beyond). The conversion rate USD/ETH will be changed every day to adjust to current valuation.

Pre-ICO bonus structure: > 50,000 XBX (34%)
Below 49,999 XBX (26%)
Below 9,999 XBX (20%)
Below 4,999 XBX (16%)
Below 999 XBX (0%)
Note that, should the ICO not be achieved after the ICO, all received funds will be returned back to their contributors (less any applicable transaction cost). Also, a KYC procedure is involved to participate in the ICO. Please, visit the Bitex ICO link at https://ico.bitex.global/?utm_source=bct&utm_medium=sig&utm_campaign=sig_v2#ico for more details. You can also click on this link to register https://medium.com/@bitex.global.co/registration-process-of-kyc-on-bitex-ico-69b595daa60f , and this link to participate https://medium.com/@bitex.global.co/ico-how-to-participate-in-xbx-ico-50cbdfc8eb7b.

TOKEN DISTRIBUTION

70% - Sold to public
15% - Reserved funding
9% - Founders and Team
3% - Advisors
1.5% - Bounty
1.5% - Campaign

USE OF FUNDS

17% - Legal and accounting expenses for expanding to new regions
47% - Ongoing development of all Bitex platforms
13% - Comprehensive marketing campaign material
10% - Recruitment of banking team and expertise in financial industry
5% - Investment in developing Bitex related Apps and platforms for future expansion
8% - Administrative expenses for running Bitex global

TECHNICAL ROADMAP

Q2 2017: Bitex Business project structure constructed
Q3 2017: Company registration and beginning of development. Work on:

• Holding Wallet
• XBX Token (ERC20 Protocol)
• Trading Wallet and EZBitex platform
• Mobile App (Android and iOS)
• BitexPay and “Powered by Bitex” software kit
  Q2 2018: Beta test and launch
• EZBitex Platform V 1.0 with Trading wallet, Payment wallet and the Holding Wallet
• Mobile App EZBitex
• Upgrade of security structure and support center
  Q3 2018: EZBitex Platform V 2.0 with BitexPay and Powered by Bitex & savings Wallet.
• Bitex B2B and B2C payment platform and BitexPay Merchant App with GPS locator and BitexPay Merchant App Kiosk
  Q4 2018: EZBitex Platform V 3.0 with Loan Wallet
• BitexPay Module and POS
• BitexPay API key develop and bug testing
• “Powered by Bitex” card
• BitexPay API key release for corporate payments
  Q1 2019: EZBitex Platform V 4.0 – API based card and its integration for POS (via Bitex API)
  Q2 2019: BitexPay Escrow Account V 5.0 – payment Gateway implementation

TEAM
Mr. Harith Motoshiromizu – Founder and CEO, Bitex Global
Mr. Nicolas Louis Laurent Berthoz - Co-founder and CTO, Bitex Global
Mr. Junjiro Sato - Co-founder and CIO, Bitex Global & License Co., Owner Japan
Mr. Ryan La France - Co-founder and CFO, Bitex Global & License Co., Owner Philippines
Mr. Yusuke Asai – CPO

ENGIINEERING AND DEVELOPMENT TEAM
Quentin D. - Web Developer
Raphael T. - Blockchain Developer
Security Manager – Undisclosable (Banking Security Developer)
Raj W. - Technical Project Manager
Shashwat G. - Full Stack Developer
Ankur B. - Backend Developer
Gopal T. - Backend Developer
Gunjan G. - iOS Developer
Daljeet S. - Android Developer
Chandan K. - Sr. Java Web Developer
Neha G. - UI/UX Designer
Anuj B. - UI/UX Designer
Himanshu K. - Blockchain Developer
Aditi N. - Quality Analyst
Palak S. - UI Developer

The reasons for which cryptocurrencies were created in the first place will all be fully utilized with the features that the Bitex Cryptobank offers. I, therefore, urge you to participate in the token sale event and share in its unique benefits.

Please, feel free to click on nay of the following links should you require more information on this project or want to connect with other unique participants across the globe:
Website: https://ico.bitex.global/?utm_source=bct&utm_medium=sig&utm_campaign=sig_v2
Whitepaper: https://ico.bitex.global/docs/XBX-Token-WhitePaper.pdf?utm_source=bct&utm_medium=sig&utm_campaign=sig_v2
ANN thread: https://bitcointalk.org/index.php?topic=3651047
Facebook: https://www.facebook.com/bitex.global/
Twitter: https://twitter.com/bitex_global
Telegram: https://t.me/joinchat/IV2i4Q6llH7ttm5n9hqT5g
Youtube: https://www.youtube.com/channel/UCBVel9gu85zLQlKLmypD_qw
Instagram: https://www.instagram.com/bitex.global
Reddit: https://www.reddit.com/r/BITEXGlobal

Published by: Tottenham