1. What is BAX?

BABB (BAX) is a cryptocurrency based on blockchain technology, aiming to provide innovative solutions for financial services on a global scale. The primary goal of BABB is to eliminate boundaries and barriers in the financial system, offering fair, reliable, and accessible financial services to people around the world.

BABB is a financial blockchain platform located in London, UK, designed to provide accessible financial services for those without bank accounts or underbanked individuals. BABB's mission is to become a decentralised bank, leveraging blockchain technology for the innovation and dissemination of financial services.

2. Who founded BAX?

The founder of the BABB (BAX) cryptocurrency project is Rushd Averroes. He established the company in the summer of 2016 with the aim of providing financial services to those with limited access to banking opportunities.

3. Which venture capitals have invested in BAX?

BAX (BABB) is a cryptocurrency primarily used for financial services on the BABB platform. According to public information, here are some venture capital firms that have invested in BABB:

1. BnkToTheFuture: An investment platform focused on fintech and cryptocurrency sectors.
2. NKB Group: A company offering cryptocurrency and blockchain solutions.
3. LDJ Capital: A global investment firm with investments in fintech and cryptocurrency.

Note that this information may not be complete or up-to-date, and investment situations may change over time.

4. How does BAX operate?

BABB (BAX) is a cryptocurrency based on blockchain technology, aimed at providing innovative solutions for global financial services. Here are the principles of BAX operation:

1. Decentralisation and Transparency: BAX utilises blockchain technology to achieve decentralised and transparent transactions. It records and verifies transactions through smart contracts and distributed ledgers, ensuring the safety of all users' funds and privacy protection.

2. Transaction Process: The transaction process of BAX includes the following steps:

3. Recording Transactions: Transaction information is recorded on the blockchain, including details such as participants, transaction time, and transaction location.

4. Reaching Consensus: The majority of participants in the distributed blockchain network must reach an agreement on the validity of the recorded transaction.

5. Linking Blocks: Once participants reach a consensus, the transactions in the blockchain are written into blocks and appended with an encrypted hash, forming a chain.

6. Smart Contracts: BAX employs smart contracts to manage business agreements, ensuring that transactions are automatically executed when predetermined conditions are met.

7. Community Banking: BAX provides an innovative financial service model known as community banking, offering personalised financial services and support.

8. Identity Verification and Trust Building: BAX adopts a blockchain-based identity verification system, allowing users to verify their identities securely and build trust.

Overall, BAX achieves secure, transparent, and decentralised financial services through blockchain technology, aiming to address global financial inclusivity and accessibility issues.