# Decentralized Bank-as-a-Service Enterprise, BANKEX, Announces Balanc3 as Advisor Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2017-10-27 Category: NEWS Category URL: https://financedigest.com/category/news Meta Title: BANKEX Collaborating with Balanc3 to Revolutionize Outdated Meta Description: Joining forces, BANKEX and Balanc3 are set to transform traditional financial systems using blockchain technology, ensuring transparency and trust. URL: https://financedigest.com/decentralized-bank-as-a-service-enterprise-bankex-announces-balanc3-as-advisorhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fd271017-9-1736843356084-compressed.jpg) _Collaboration with the ConsenSys formation, Balanc3, aims to revolutionize outdated systems through the use of blockchain_ [BANKEX](https://bankex.com/en/), the decentralized Bank-as-a-service (BaaS) enterprise, today announced that ConsenSys formation, [Balanc3](https://www.balanc3.net/), the blockchain-based accountancy platform will join its advisory board. Both BANKEX and Balanc3 aim to transform current financial systems while catering to the unique needs of the emerging blockchain industry. “With the explosion in fintech and blockchain projects comes a very real need for transparency, scalability, and trust. Balanc3 has created an accountancy platform that specifically addresses the unique needs of the emerging [blockchain industry](https://www.financedigest.com/three-blockchain-application-scenarios-for-the-financial-services-industry.html "Three blockchain application scenarios for the financial services industry") while eliminating some of the uncertainties for token holders,” said Igor Khmel, BANKEX CEO and founder. “We believe this collaboration is a major step in not only modernizing traditional financial and [accountancy systems but encouraging the mainstream adoption](https://www.financedigest.com/manufacturers-of-shipping-containers-market-to-benefit-from-lucrative-growth-opportunities-on-account-of-increasing-adoption.html "Manufacturers of Shipping Containers Market to Benefit from Lucrative Growth Opportunities on Account of Increasing Adoption") of blockchain,” he added. BANKEX CEO Igor Khmel is a fintech entrepreneur with experience in [product development](https://www.financedigest.com/tire-recycling-downstream-products-market-to-observe-strong-development-by-2019-2027.html "Tire Recycling Downstream Products Market to Observe Strong Development by 2019-2027"), operations, and digital strategy implementation. With an MBA from Stanford [School of Business](https://www.financedigest.com/neoma-business-school-opens-the-first-virtual-campus-in-europe.html "NEOMA Business School opens the first virtual campus in Europe"), Khmel’s professional track-record includes professional tenures at prestigious organizations McKinsey, Deloitte, and Citadel. Khmel also founded Sberbank Lab, a fintech laboratory, and innovation practice, at the largest bank in [Eastern Europe](https://www.financedigest.com/u-s-troops-arrive-in-poland-to-reinforce-eastern-europe-allies.html "U.S. troops arrive in Poland to reinforce Eastern Europe allies"). A leader in blockchain-based accounting, Balanc3, a ConsenSys formation, has engineered a full-service accountancy package [customized to meet](https://www.financedigest.com/meeting-customers-where-they-are-through-financial-inclusion-and-hyper-personalization.html "Meeting Customers “Where They Are” Through Financial Inclusion and Hyper-Personalization") the needs of token generation events and emerging blockchain-based projects. Cultivating a network of leading innovators in the cross-section of blockchain and accounting, Balanc3 provides a full range of solutions to decentralized companies such as triple-entry accounting and on-chain transactions which transforms data into traditional accounting formats. “We are very excited about becoming BANKEX’s advisor. At Balanc3 we feel very strongly that a significant number of assets will be tokenized and digitized over the [next few years](https://www.financedigest.com/uber-rival-bolt-seeks-to-turn-profitable-next-year-ipo-in-2025.html "Uber rival Bolt seeks to turn profitable next year, IPO in 2025"). BANKEX’s unique Proof-of-Asset Protocol is a significant step forward in this mission. BANKEX’s [efforts will give traditional clients access to the benefits of blockchain-based solutions and lay the foundation for a new banking](https://www.financedigest.com/big-bank-ceos-to-sell-lawmakers-on-relief-diversity-efforts-amid-economic-regulatory-challenges.html "Big bank CEOs to sell lawmakers on relief, diversity efforts amid economic, regulatory challenges") economy,” said Griffin Anderson, Founder, Balanc3. Balanc3 is joining BANKEX’s stellar board of advisors, consisting of industry experts such as Sergey Sergienko, Founder of Chronobank, Sasha Ivanov, Founder of Waves, Nehemia Kramer, an early stage investor in Ethereum, Chris Skinner, a [leading financial markets](https://www.financedigest.com/the-temporary-cardiac-pacing-wires-leads-market-to-grow-exuberantly-between-2018-2026.html "The Temporary Cardiac Pacing Wires Leads Market To Grow Exuberantly Between 2018-2026") strategist, and Gabriele Colombo, Executive Director of Symphony Foundation, as well as academic advisors Michael Ostrovsky, Professor of Economics at the Stanford Graduate School of Business and Peter Cramton, Professor of Economics at the University of Maryland. BANKEX and Balanc3 will be working on several pilot schemes together, aiming to apply blockchain solutions to the traditional professions of banking and accounting respectively, offering clients a broader and more diverse solution, while improving transparency. “This collaboration is one of many significant projects that we will undertake to not only optimize our own solution but to offer our clients a more diverse range of services [bridging the gap between traditional finance](https://www.financedigest.com/is-it-risky-to-use-bridging-finance-for-my-business.html "Is it risky to use bridging finance for my business?") and the rapidly developing blockchain sector,” concluded Khmel. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---