FAQ

Below are some of the frequently asked questions our users may have about the Bantu Blockchain Network.

A global blockchain infrastructure that empowers humanity. It is managed by the Bantu Blockchain Foundation (BBF) a Not-for-Profit organization created to support the Bantu Blockchain

Bantu’s vision is to become the largest distributed network infrastructure with the most decentralized governance model for wealth creation and economic sovereignty for humanity

Our mission is to empower humanity across all industry sectors, both public and private using blockchain and other 4th Industrial Revolution (IR) technologies.

IMPACT

Bantu will enable emerging markets with a blockchain infrastructure that unifies the secure issuance, trading, settlement, clearing and custody of digital assets in all their manifestations and mutations in real time, thereby unlocking the capital trapped in the informal sectors of their economies.

Bantu Blockchain Foundation is currently made up of 27 dedicated team members spread across 7 workstreams on 3 continents.

They are blockchain professionals who have been in the industry since the early days of blockchain technology.

The team members also have decades of professional experience in banking and finance, cybersecurity, fintech innovation, compliance, law enforcement, governance, business and intellectual property law, and large-scale technology infrastructure deployment.

The team continues to grow every month.

BantuPay Multi Asset wallet. Available Now on IOS & Android https://BantuPay.org Including other products that have been built by BBF

Yes!

While our infrastructure, apps, and network tools will directly target millions of users, we are also able to support and add value to the various organizations across industry sectors.

BantuPay also has an API that enables blockchain developers to build their decentralized apps and wallets without having to worry about the low-level implementation details.

Bantu Blockchain Foundation is a non-profit organization and is responsible for maintaining the code base of the Bantu Blockchain. The foundation also supports the developers, organizations and user communities.

Users carrying out Transactions on the Bantu Blockchain Network will pay transaction fee in XBN at a small base unit we like to call the "Spirit".

The Bantu Blockchain Foundation's mandate is to build an ecosystem to help reorient the world towards a spirit of sharing & fairness.

Bantu Network Participants and Users consists of Underserved End Users, Freelancers & Entrepreneurs, Fintech/Blockchain Developers, Network Validators, Funders, SMEs & Enterprises, Corporates, Public & Private Government and various Organizations

We will not be having an ICO, IEO or STO.

However, as a Blockchain Infrastructure, we have our Bantu Network Reward (BNR) Tokens that will be given to Bantu Users that show interest by actively participating in various competitions, trivias, referral programmes and other social media challenges.

Bantu XBN is the Bantu Network Token.

The XBN is the native asset and network utility token of the Bantu Blockchain. It is issued by the Bantu Blockchain Foundation.

You can earn your first free 1424 XBN by downloading the BantuPay app, signing up your free account, and successfully completing your KYC profile to become a Verified Bantu Community Member

  • Earn XBN tokens by participating in digital asset transfers. Send and receive tokens with your peers. Also, use the swap feature to convert tokens to XBN
  • Generate multiple revenue streams through frequent transactions (Bantu transaction fee is as low as 100 spirits which is equivalent to 0.00001 XBN)

You can securely store your XBN on the BantuPay wallet.

The total supply of XBN is 369 Billion. Check Bantu Dashboard https://dashboard.Bantu.network/ to keep track of Current Circulation Supply.

BantuPay is a community driven, multi digital asset management infrastructure built on blockchain. It includes the simple and user-friendly BantuPay wallet that lets you send, receive, swap and store digital assets.

BantuPay is available now for IOS and Android devices https://Bantupay.org

The next step is to ensure you have safely stored your secret key in a location only you have access to and can remember. NEVER share your secret keys with anyone. (Warning: Anyone with access to your secret key controls your wallet. Once your secret key is lost, all data attached to it including your funds will be permanently lost).

Make sure you backup your wallet’s secret key so in case you forget your password or lose your mobile device, you will be able to easily recover your wallet.

You can receive Bantu Assets (XBN or BNR) using your Username or having your QR code scanned by a BantuPay user.

Transaction fees on the Bantu Blockchain network are extremely cost efficient with minimal barriers for entry. Each transaction fee can be as low as 100 spirits (0.00001XBN).

Similar to other Blockchains, Bantu blockchain has a native utility coin called Bantu (XBN); which is used to facilitate operations and transactions on the network. XBN is divisible into numerous small units. The smallest unit of a Bantu network token is called a SPIRIT.

BantuPay is a Decentralized Payment Financial Market Infrastructure (dPFMI). A secure and non custodial wallet, which means as a Bantu wallet user, you are solely responsible for the security of your BantuPay wallet. With its user friendly interface, password is stored on local devices only.

Apple Appstore or Google Playstore

Decentralized Payment Financial Market Infrastructure (dPFMI) that enables Peer-to-Peer exchange, real-world asset tokenization, and real-time value transfer.

  • Securely Send, Receive, Swap digital assets in seconds.
  • BantuAPI Services enables Blockchain developers to build their decentralized apps and wallets.

A confirmation window will appear to indicate transaction success. Also, feel free to check Transaction data in your “History” section

Please review the Receiver details before confirming ‘send’ transactions. As transactions are final once initiated. Contact Bantu Support if you require any assistance.

Yes! Each Transaction fee on Bantu Blockchain are extremely cost efficient, as low as 100 Bantu spirits (0.00001XBN)

It is strongly recommended that you backup your wallet in a secure location ONLY you can remember and have access to. So in the case you lose or update your device, you can easily import and restore your BantuPay wallet.

Please refer to BantuPay User Guide for assistance.

Hopefully, you thoroughly followed our security recommendations and backed up your wallet’s secret key when you signed up for a BantuPay account. Now you can re-install the app, create a new or use the same password, import your private/secret key and your account details will be restored.

You can delete you BantuPay wallet by resetting your password

Losing your secret key means all your account data attached to that key will be permanently lost; this includes ALL your funds. Bantu will not be liable for any losses, so please backup and store your secret key safely.

BantuPay account can only be permanently deleted/lost if you forget or fail to back up your secret key.

Bantu Users are rewarded Bantu Network Reward (BNR) Tokens given to Bantu Users that show interest by actively participating in various competitions, trivias, referral programmes and other social media challenges. 1XBN = 8BNR

Bantu community members that sign up for the BantuPay wallet, join the Bantu rewards programme and actively participate on various community activities, will be eligible to earn their share of up to $500K worth of BNR tokens via our giveaway. Earn your first 100 BNR tokens today by signing up for a free BantuPay wallet and referring your friends and family to do the same!