Banking Startup BABB Appoints Blockchain Veterans as CTO and Lead Technical Adviser

Blockchain-based bank for the global microeconomy adds additional expertise as they prepare to begin their token sale in late November.

LONDON, 04.10.17. Blockchain-based banking startup BABB has today announced that it is augmenting its technical team with the appointments of entrepreneur and fintech expert Jorge Pereira as CTO, and Adi Ben-Ari as Lead Technical Adviser.

The appointments come as the company approaches its Token Sale in late November, proceeds of which will fund the further development of the world’s first blockchain-based bank account.

As CTO, Jorge Pereira will bring with him a wealth of technical leadership experience across the payments and cryptocurrency space. Jorge will be leaving his position as Chief Technical Officer and Executive Vice President at FinTech startup Uphold to join BABB. He is also Founder of digital product development agency Seegno, where he continues to serve as Advisor.

Jorge has deep expertise in development of financial services products and technology, including key areas for BABB such as cryptocurrencies, distributed ledgers, regulatory compliance, KYC/AML, data analysis, security and risk mitigation.

Adi has been extremely active in the blockchain space for a number of years, having co-founded Applied Blockchain and number of other blockchain startups. He will advise BABB on delivery of a digital solution for BABB token buyers to pre-register and undergo KYC ahead of the token sale. He will also help to deliver the BABB app itself, having overseen delivery of over 15 blockchain solutions from startups to large corporates.

BABB represents the future of banking: offering everyone across the world access to a UK bank account, easily and instantly using their smartphone app. BABB is built on blockchain technology and uses biometrics to create digital identities for all participants and connect people across the globe. BABB’s goal is to reach every underbanked person in the world, totalling over 50% of global population, to catapult them into a new era of total economic participation.

Based on a private permissioned blockchain implementation of a distributed ledger using smart contracts technology, the BABB platform uses biometrics to deliver slick and secure UX, using AI/ML and data analytics to optimise match-making and control risk. The platform gives customers greater control and lowers the cost of banking for all, with P2P to decentralise some financial transactions while providing other banking services at a low cost, making micro-transactions economical.

“We are delighted to welcome Jorge and Adi to the BABB team,” said Averroes. “As we approach our token sale and the next stage of our journey in the development of the world’s first blockchain-based bank account, technical leadership has never been more important. We believe that the experience and expertise of our new CTO and Lead Technical Adviser will enable us to continue to build strong technical foundations to realise our vision.”

BABB’s token sale will take place in late November and the company anticipates launching its banking app before the end of the year. Anyone interested in finding out more can attend the BABB token sale launch party or pre-register for updates via the BABB website.