Farmers in FinTech – a bunny’s tale

Picture this, – A farmer from Kansas, let us call him Roger decides to expand his rabbit ranch and become a nationwide supplier. Roger has been in the business for over 10 years now and supplies 40% of rabbit meat across his state. Despite his successful business Roger is unable to get a loan from his bank, even though Roger has a steady cash flow, infrastructure and a clear business plan illustrating his expansion strategy.

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Here comes Jim.

Jim works for Furry International Bank, he is a banker and has been a good friend of Roger’s for over a decade. Furry International is no conventional bank, it has been innovating from day one, and understands the difficulties Roger faces when he goes around town seeking investments:

  • Traditional banks seem to be reliable, but they require large collateral, enforce tiring procedures and can be stingy with loans considering Roger’s credit score is still recovering from his student loan back in the day.
  • Private investors are hard to find, negotiations can take a lifetime and due to the large scale of investments, a single investor may not be able to provide Roger with the capital he needs. Looking for several investors seems to be too complicated and Roger has no idea how to go about this process – he’s a farmer not a financial mastermind.
  • Venture funds only tend to invest in new tech with high risks but probabilities of high rewards. Roger’s business doesn’t involve neither tech innovation nor extremely high returns.

Roger wants to ride the hype.

At this point, Roger decides to explore the breakthrough technology of blockchain and run an ICO campaign for his project. But he soon realizes that running an ICO won’t benefit his business. With regulations kicking in quickly, running an ICO that is economically viable for crypto-investors is just as hard as taking his company to the stock exchange and making its shares publicly available.

Roger sits down with Jim in a bar

A drink or two into the night, Roger tells Jim about his struggles and asks if Furry International has any solutions to find investments for the ranch. Jim quickly brought up a solution provided by an innovative company named BANKEX and their Proof-of-Asset protocol.

Jim wants to help Roger, so he agrees to represent Roger in the further process, which Roger does not fully understand. Jim on the other hand is an expert and he is bringing Roger as a new client to his bank.  

FARM Token is released

Jim pays a visit to BANKEX and fills in all the necessary information about Roger’s project – cash flow, years on the market, current market coverage, business owners background etc. This information is collected and confirmed by professional accountants, lawyers and financial analysts. Once BANKEX validates every aspect of the business, Jim is asked to install special IoT sensors in the rabbit ranch. These sensors will keep track of the number of rabbits automatically and monitor if the anticipated growth rate is achieved.

As soon as the farm becomes smart and digital, BANKEX will issue “Farm Tokens” and put them on the Smart Asset Exchange, initiating the ISAO (Initial Smart Asset Offering). Now Farm Tokens represent Roger’s tokenized farm. So Roger can be sure, that they will be available quickly, without greedy brokers who want to take advantage of his business. Once the Farm Tokens are put on the market, they are able to attract investors from all over the world. Roger would never be able to reach these investors if he took any traditional approach of getting funded. Investors trust the BANKEX ecosystem as they stay updated with the information about the ranch.  In addition, they know that the Smart Contract will ensure the safety of every transaction and they will receive their share of profit as the ranch expands.

Fast forward a year from that night in the bar.

Roger has successfully gained traction in neighbouring states and has become one of the biggest suppliers of rabbit meat in the country, meanwhile Jim has been promoted, he is now Head of Digital Investments at Furry International. Their success is featured in multiple publications around the world and Furry International is now considered to be one of the most innovative banks in the world. As for the investors, the price of Farm Token skyrocketed, they are happy to hold on to their tokens expecting further growth when Roger begins to expand his business overseas.

BANKEX innovation

If we were to be faced with Roger’s problem just a few years ago, it is safe to say that alternative solutions would have never entered our mind. Today, however, with the evolution of services that blockchain technology has initiated, the “Bunny’s tale” is something that can be accomplished in the very near future.

BANKEX is set to revolutionize the investment market. Their token sale begins on the 28th of November, don’t miss your chance to become a part of something great.

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