BanQu is a software technology company on a mission to connect refugees, the displaced, and the world’s poorest to the global economy through a secure, portable digital identity that maintains transaction history through a proprietary blockchain-based platform.
It involved napkins, a few drinks, and a long night. The founders of BanQu, while working on global aid projects in Sub-Saharan Africa, had seen too much. A couple of them, having grown up in poor, third world conditions, understood the challenges of and obstacles to entering the global economy. As a result, while dedicating their time, business knowledge, and success to enable others to enter the global economy, they decided to take on the challenge head on. From that passion, BanQu was born.
One Year Later
The Founders worked on a few projects that replaced the concept of aid – a one-time grant that is purely monetary in nature – with the idea of helping start profitable, economic businesses with their friends in Africa. The result was amazing, not only were the businesses successful, but they provided a reoccurring means for success and sustainability in the customers they worked with. This was the beginning of an understanding, coupled with their own experiences, that helped propel the BanQu team to look at poverty from a different vantage point.
Halfway Between the Gutter and the Stars
The concept seemed simple, four easy steps, but the technologies weren’t strong enough. A centralized approach would be too cumbersome and too heavy. A solution that was lite, distributed and open was needed. Enter stage left, the block chain.
Three years later
Three years after the idea was conceived, the BanQu App was born. Built on blockchain infrastructure, the BanQu App was designed as a global, distributed, identity and transaction infrastructure that allows users, communities, families, aid organizations, governments, banks, and payment companies to interact together in ways never before seen. The flexibility is endless. Why? Because trade is wholly an identity business, not payments. Payments are the end result of knowing and trusting who you are interacting with, identity is the core.
The Moment of Truth
When the realization hit that the unbanked need a global, economic identity to connect and STAY connected to the global economy, we realized the key to ending poverty was now within reach.
The Game-Winning Grand Slam
In March 2016, BanQu is launching its first set of customers on the BanQu App platform. The response to participate has been overwhelming. Once we run a few months with this very focused test, we will go wide and start opening and impacting economic corridors and regions as quickly as possible.
The future for the unbanked and world’s extreme poor look very bright for the first time in history. If you’re interested in helping with this worthwhile mission, contact us and join the team.