Blockchain-based banking startup BABB has today announced the appointment of blockchain expert Dr. Anish Mohammed, who has joined the team as CTO & CSO to lead the launch of the its blockchain-based bank account.
Mohammed is thought-leader in security and cryptography with over fifteen years in the industry as both a researcher and consultant. From building a micropayments system for Ericsson to researching cryptographic algorithms and protocols with Microsoft Research, Mohammed brings a wealth of experience to the team following strategic roles with Accenture and CapGemini.
Mohammed is also an adviser to Ripple Labs, his most recent projects have focused on security versus scalability versus consensus of blockchain, and the use of smart contracts for artificial intelligence safety.
BABB founder and CEO, Rushd Averroes said:
“Dr. Mohammed joins the BABB team at a pivotal time as we scale up our development team to launch the world’s first blockchain-based bank account, set to revolutionize the future of retail banking.”
“His extensive expertise in IT security, blockchain, machine learning, and the data science fields will complement the immense skill set of our development team as we build the ecosystem of tomorrow’s economy; a global marketplace for human innovation, financial autonomy and wealth creation.”
The BABB platform is based on a private permissioned Ethereum blockchain implementation of a distributed ledger using smart contracts technology. BABB uses biometrics to deliver slick and secure UX, using big data analytics to optimize match-making and control risk. The use of artificial intelligence gives customers greater control and lowers the cost of banking for all, with P2P to decentralize some financial transactions while providing other banking services at a low cost, making micro-transactions economical.
On joining the team, Mohammed commented:
“I am thrilled to join the founding team at BABB. I believe BABB will form the backbone of the micro-economy and promotes true financial inclusion. A solution for any bank who wants to offer services running on an app and a network enabling social and financial inclusion.”
The BABB banking app is expected to launch later this year.