La. based social network expects to bring $26 billion back into urban communities
BELLE CHASSE, La.–Building Economic Advancement Network (BEAN) is aligning strategic investments, incentivized business transactions and cutting-edge technology to increase economic power in urban communities.
The company is scheduled to launch the intuitive BEAN app this fall.
According to BlackNews.com, this launch sets a precedent as the first social network dedicated to the economic advancement of urban communities by leveraging commerce and blockchain technology.
“The platform allows users to easily connect with businesses and professionals from all over the world that are committed to making a positive economic impact in urban communities. BEAN’s intuitive app leverages the latest breakthroughs in blockchain technology, enabling users to monitor their daily economic impact, while earning BEAN coins for their transactions,” states a corporate press release.
BEAN is founded by Darren Walker, 33, of Belle Chasse, a real estate investor who oversees a multi-million dollar portfolio. He recently starred in the DIY Network’s show, ‘Louisiana Flip N Move,’ where he and his wife, Lucy, demonstrated their real estate and renovation prowess throughout Louisiana.
His partner Derek Fitzpatrick is a designer, technology expert and application developer who has led multiple, award-winning studios as a creative director. His deep understanding of design and technology is at the forefront of BEAN’s platform.
Fitzpatrick’s expertise in branding, 3D/2D, animation, motion graphics, visualization, architecture and industrial design has been instrumental in producing creative, animated and branding assets for major corporations, new products, business services and start-ups.
BEAN partner Michael Long is a corporate attorney who specializes in corporate and securities law, venture capital, joint ventures, real estate development, debt, mergers and acquisitions, and various areas of corporate law.
Walker said, “BEAN is at the forefront of an economic shift. We are leveraging resources, partnerships and investors from diverse backgrounds and demographics to drive economic advancement in urban communities. African Americans have the 16th largest buying power in the world and are major contributors to the United States GDP, yet so much of that economic power is not realized where it matters most – in African American neighborhoods. BEAN’s social network will counter that trend by connecting consumers and businesses in a manner that positively impacts urban communities.”
BEAN expects to facilitate $26 billion back into urban communities by using its platform to redirect a minimum of 2% of African American spending.
BEAN has set aside 16% of its shares for private investment. Now through December 31, 2018, individuals and investors can purchase BEAN shares with equity in accordance with the U.S. Securities Exchange Commission’s (SEC) rules under the Jobs ACT, Title III, Regulation Crowdfunding (Reg. CF).
BEAN is offering shares for a minimum investment of $250 and maximum investment of $107,000. Facilitating BEAN’s Reg. CF offering is truCrowd, a U.S. crowdfunding portal authorized by the SEC. For every investment during the initial Reg. CF offering, investors will also receive BEAN Coin tokens, which will be used as cryptocurrency on BEAN’s social network.