blockbank
Crypto Overview
Project Overview
BlockBank is a cryptocurrency project that aims to bridge traditional banking services with decentralized finance (DeFi) through a mobile application. The BBANK token serves as the native utility token of the platform, used for governance, staking rewards, and accessing premium features.
Intended Utility
The token is designed to power a platform that combines centralized banking features with DeFi capabilities, including AI-powered crypto investment insights, a digital wallet, and educational content. Users can stake BBANK tokens to access different tiers of platform features.
Current Implementation and Usage
The platform currently offers basic wallet functionality and staking capabilities. The project has maintained development activity, though at a modest pace. While trading volume primarily occurs on decentralized exchanges, this represents legitimate asset exchange rather than gambling activity.
Business Model Analysis
The core business model focuses on providing banking and investment services, with revenue generated through transaction fees and premium service subscriptions. The staking mechanism, while offering rewards, functions as a governance and platform access mechanism rather than an interest-bearing loan system.
Token Distribution and Founder Assessment
Token distribution includes allocations for development, marketing, and team members with standard vesting periods. While a significant portion is allocated to the team, this falls within typical ranges for similar projects and includes reasonable lock-up periods.
Crypto Impact
To assign a comfort level investing in blockbank from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to blockbank.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.