Beluga ICO Review: Creating Decentralized Bank Accounts

The Current Issue in Banking

Today, over 3 million people are without bank accounts. In some countries, up to 60% of the population are without it. This is because of the high costs that most banking institutions incur. As a result, these complications make it harder for people within the lower income bracket to use banks effectively.

Not to mention, centralized banking has a few issues with regards to transaction speeds. For instance, most bank transactions take up to 3 days to implement. Due to this issue, sending money across the borders can take days if not weeks to transfer fully.

The current payment solutions offer small, yet ineffective relief to this problem. Small businesses tend to suffer from cash flow issues due to long holding periods that banks have on each transaction.

Since most small businesses and developing countries use cash, it leaves them open to security issues. Also, using only cash makes it harder for companies to accept other forms of payment. Fortunately, Beluga created an interesting solution to this issue.

What is Beluga?

Beluga uses blockchain technology and cryptocurrency to lower the costs and make banking more accessible for small businesses and people in developing countries. With this new decentralized system, Beluga helps everyone by creating faster transactions, low fees, and the ability to accept more than just fiat money.

How Does it Work?

  • A consumer purchases a product using fiat or cryptocurrency.
  • If a product is bought with fiat currency, the merchant can use BBI tokens to receive the money instantly. When a user buys a product with cryptocurrency, it will process instantly and send the money to the user’s account. This gives the business access to the funds automatically and helps improve their cash flow.
  • The customer is awarded loyalty points which they can then use to obtain rewards within Beluga’s platform.

beluga pay

Token Sale Information

Disclaimer: This post was made for educational purposes only. Speak to an advisor before you plan on investing in any ICO.

  • Merchant Incentives: Beluga is made for merchants who want to receive both crypto and fiat money for their services. With Beluga, they can receive both forms of currency instantly.
  • Decentralized Banking: Users without bank accounts can easily make an account with Beluga and start buying products and services. This helps increase the global economy.
  • Better Infrastructure: With Beluga, you can expect lower transaction fees, faster speeds, and a better way to obtain money without having to use a traditional bank account.

  • Competition: There are already ICO projects that provide the same service. Such high competition could make it hard for this project to increase in value over time.
  • Protection: While Beluga does help in creating a decentralized banking app, we wonder how it will help when solving disputes.



Overall, Beluga has stiff competition when it comes to creating the next decentralized banking app. However, its ability to help merchants receive better pay will help small businesses and companies grow. We hope to see more from this ICO as it continues to help non bank owners and smaller companies gain the financial freedom they need.


Adam Cole has been a crypto enthusiast for years. First getting involved in Bitcoin mining in late 2010, he has now diversified his portfolio and dug deeper into the alternative coins of the space.As new and exciting ideas arise in cryptocurrency, Jeremy is always looking for the next big thing and a coin which not only appreciates in value but also has a steady increase in use and demand. Jeremy has seen the rise of coins such as Ethereum and by studying the technical and fundamental side of ETH, he has learnt how to find similar coins that are likely to have a bright future.

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