BAXE is not just a platform, it’s an ecosystem with a vision to take back the internet. As CEO and co founder Christian Moore explains:
“This is our mission; I have been blessed by a team of highly intelligent capable executives who are passionate about our dream to use blockchain and Web3 technology to make a difference and put control back into the hands of the community and the world.”
Or to describe it another way, the team behind BAXE call it the world’s first DLT based super app.
The BAXE Management team has diverse and relevant career backgrounds to contemplate such a major opus: Moore’s background is legal and finance, COO Andrew Broad capital markets technology CTO Dylan Blankenship is blockchain development, CFO James Maher is a CFA and market analyst and CMO Ben Lightfoot’s is in digital media, Facebook to be more precise.
Much like the app the team is also decentralised across Australia and Asia, their careers have also brought them into the intersection of West meets East in terms of technology and business models which has fuelled the thinking behind the BAXE super app.
“We want to grow an ecology,” explains Moore, “With integrated communications and value exchange capabilities. We want to take the lessons from the East where everything gets bundled into an ecosystem, like WeChat for example, and mix it with the Western experience where platform companies tend to focus on one thing and do it well.”
BAXE is not intended to be one ring to rule them all but a doorway or bridge through which people can come in, get access to the foundational elements, and then use a low code development platform to build their own platforms and apps on top of BAXE.
Broad explains further. “We’re looking at bringing three pillars initially to BAXE; an ecommerce pillar, a lifestyle pillar and an embedded finance pillar all within the same ecosystem.
Broad continues, The Netscape browser was the inflexion point for Web 1.0 which drove mass adoption for the internet as it abstracted away all the underlying complexity of the internet and made it easy for users to interact with the protocols Baxe has set a similar trajectory as an interface to tap infinite possibilities of Web 3.0 for those without a computer engineering degree.
Moore adds: “Apps like WeChat began as messaging apps and grew – we want to start where these apps have ended and begin there – leapfrogging using their development experiences.”
Moore contends that current integrations of the different apps are clunky and hard to use.
“It’s not seamless, it’s not integrated and it’s not fluid. For example, banking systems have layers of security and legacy tech – we are not bound by such limits. Instead, we have developed a two token economy; a stable coin used to transfer value around the network and a market coin (ERC-20) that holders can both trade on and stake to share in the value creation within the ecosystem. We want our users to share in the network effects as the user base and transaction volumes scale and have designed the tokenomics in a way for our community to participate - WAGMI for all our Baxers.
“We want to bring blockchain to the masses,” says Moore.
That view includes bringing big brands onto the platform such as Nikes and Adidas – but also small boutique shops such as for example a specialist rug merchant out of Turkey or a little soap store down an alleyway in Paris.
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Broad adds: “There is no cost to come onto the platform but there will be small transaction fees – a proportion of which will accrue to the holders of the BAXE Market Coin(an ERC-20 Token). We want our users to participate in the value creation of the platform.”
Onboarding users will be easy using advanced biometrics, KYC and device authentication state-of-the-art technology.
“Moore is passionate about this play and it’s not just about smart commerce.
“We truly believe in the principles surrounding DLT technology and we also want to see a paradigm shift away from the current financial system. We want people to be independent, we want them to have control over their information, identity and privacy. We want them to have agency, to be able to exploit their own utility in their data and determine who gets access to what, when, where and how.
“These are core principles in blockchain which we hold very dear.”
Moore knows he and the team won’t get there from the beginning, that Rome was not built in a day, and that BAXE will need to live in a hybrid world between the crypto world and mainstream economy. BAXE needs to hit all the legal spots, regulatory issues and security before they can deliver their dream to the people.
To fast track BAXE they are partnering with the best-in-class partners, again leapfrogging into better space. The BAXE platform has been developed in collaboration with Consensys, Accubits, Haventec and Idemia to name a few. BAXE has developed strategic partnerships with Gemini, Genesis, Salesforce and Marketplacer.
“There is a better way to provide financial services to the unbanked – many people [in developing countries] have a smart phone but many do not have an address or documents needed to set up a bank account. With BAXE, all they need is an eye, fingerprint, a phone number and a smart phone and they will get access to the financial system. BAXE will dramatically reduce the friction to onboard users into financial services across the world.
“A big part of our strategy is to target the 1.7 billion unbanked in Asia and South America. We will launch in Europe in Q1 2022 to test the market and build momentum. The next market in our sights will be Indonesia and we believe this will become a staging point to push into Asia,” says Moore.
“We at BAXE believe that the vision of a free, fair and open Internet is worth fighting for, this is our mission.”
BAXE is geared up to Take Back the Internet – follow their progress at https://www.takebacktheinternet.com/
The BAXE app will be available to the public in February 2021.
You can find out more at www.baxe.com
Please join our telegram at https://t.me/BaxeAnnouncements
Please join our discord at https://discord.com/invite/aA7RFm6K
You can find Andrew on Twitter at @andrewbroad_