Decentralized accounting protocol opens new possibilities for crypto banking
Denver, CO -- ArkiToken, Inc., a Colorado-based blockchain technology developer, unveiled BullaBanker, a revolutionary new app on BullaNetwork that allows users to conduct “bankless” personal and commercial transactions in crypto on June 3, 2021, during the Bitcoin Miami Conference.
BullaBanker works like PayPal or Venmo for crypto. Users with a connected wallet can instantly send invoices, pay bills, and manage their accounts in a safe, secure and low-fee environment without using a bank or third-party institution. BullaNetwork is deployed on the chains: RSK, xDAI, Celo, ETH, Polygon, Avalanche and Harmony. The app also follows a stakeholder capitalism model. Instead of paying fees to the bank for transaction processing, users will have the ability to offset fees by holding and staking BULLA tokens.
While crypto boasts a $64 billion DeFi market, it is not widely used for consumer transactions. BullaBanker is the first app to offer a full range of banking functionality natively in crypto. In addition to facilitating bankless Web 3.0 b2b and p2p transactions, the Bulla Protocol offers a complete range of money management, budgeting and expense-sharing capabilities.
“We wanted to provide native banking functionality for crypto owners, and we wanted the fee structure in traditional banking to accrue to users of the BullaNetwork,” said Michael Revy, ArkiToken, Founder and CEO.
Revy founded ArkiToken. in 2020 to pioneer apps that can facilitate “Collaborative DeFi.” This new technology broadens blockchain functionality, allowing users who mint their own accounting journal tokens (AJT), to collaborate with business partners to manage payments, from simple invoices to complex project finance. BullaNetwork is committed to harnessing Blockchain technology for the creation and distribution of tools that increase value and allow everyone to benefit from the new bankless economy.