KubitX Project (KBX token)
Ecosystems
As supporters of the peer-payment ecosystem, we believe that the traditional financial system will eventually be partially replaced due to always destructive beliefs, censorship and enlightened communities.
Minimized risks: our strategy of safe storage and multi-signature wallet will minimize the exposure of our merchant. We have combined several strategies to ensure the funds negotiated on our platform. Website : http://www.kubitx.io/
ABSTRACT
KuBitX is one of the most advanced and robust cryptocurrency trading platforms designed to embrace the idea of “Simplicity” and “Accessibility,” empowering and educating people from all walks of life to embrace the technological revolution of Blockchain and invest in cryptocurrencies. Contained within the KuBitX ecosystem are the KuBitX Trade engines, the secure KuBitX wallets and an advanced Admin dashboard for regulating the activities within the Trade Exchange. By targeting the untapped, high potential demographics for their inclusion in the Cryptocurrency market, our goal is to become one of the most diverse cryptocurrency marketplaces for buyers and sellers. We aim to achieve this by developing a robust trade engine, providing regular banking services through our Financial Service Providers and initiating an Ambassador program to spread awareness and adoption.
The KuBitX team is composed of an extremely talented and experienced bunch of professionals with significant work experience from Fortune 500 companies and “Big Four” consultancy firms that have identified “Inclusion" and “Adoption” as the major pillars of growth for any Cryptocurrency marketplace. As a result of many brainstorming and ideating sessions, the team was able to come up with unique ideas such as an inbuilt Financial Services feature in addition to making the coin listing process convenient in terms of time and cost.
To create a harmonious ecosystem within the exchange, the KuBitcoin (KBX) token will be used for fee payments within the exchange operation and will be also be integrated into the banking processes integrated with the exchange to enable users to get fiat services in a short span of time.
The user-friendly outlook of the exchange will also allow it to promote adoption. Simplifying the process of remittance also provides us with the potential to target a good user base and thus helping in increasing the liquidity of the exchange.
The KuBitX ecosystem is effectively going to be one of the most comprehensive and compliant solutions for traders, partnering with the best trade engine experts having a broad industry experience. Our platform will redefine how exchanges operate and by attracting more traders via our various product offerings, we will expand the pool of participants by fostering greater market liquidity and thereby contributing to its overall growth.
WHAT MAKES US DIFFERENT?
KuBitX has been developed not just as a trade engine but an engine for growth and development of the emerging markets assisting in financial inclusion, financial education and Blockchain adoption by the people. We strongly believe that KuBitX has the potential to reach the emerging regions and educate the citizens with little or no access to Blockchain based services and adoption and offer multiple crypto to fiat exchange and paring.
KuBitX VISION AND MISSION
The ideation process behind KuBitX was undertaken keeping in mind the broader vision to educate, enable and engage people from emerging markets in the cryptocurrency ecosystem. The technological development that has taken shape since the dawn of the Internet era has been top-down, i.e., from the developed nations towards the developing nations. This has created a gap in the overall development process thus compelling people from the emerging markets following the trail of development rather than being active contributors in shaping the process. KuBitX aims to leverage the emerging technology to move forward in the vision and mission that we have. Website : http://www.kubitx.io/
The broader areas upon which the vision of KuBitX has a focus upon are:
- Education about Blockchain technology enhancing adoption by masses – KuBitX has come up with a unique initiative called Global Channel Ambassadors to enter, understand and capture local emerging markets. We aim to tackle the socioeconomic hindrances to adoption. The KuBitX Global Ambassador Initiative will reach the grassroots to drive local adoption.
- Liquidity improvement – Liquidity is one of the most important pillars of any exchange that exists. Many exchanges today suffer from a liquidity crunch leaving users stranded with their currencies. To tackle this, we plan to involve market makers to build sustainable volume on the exchange, reducing cost of transactions and simplifying the complete process. To avoid wash trading, we have Anti Market Manipulation (AMM) tool on the platform. Market surveillance, supervision and compliance are being looked into very carefully. The admin can choose to freeze an account associated with suspicious trading.
- Robust Security – Security is one of the most crucial pillars surrounding a cryptocurrency exchange. We at KuBitX do take the security of the whole platform very seriously. Hereby, we not only are developing our own exchange system secure but also plan to make users aware of various frauds and hacks going on in the market. Following are the security measures taken by the team:
• We are storing the password hashes and not the original passwords in our servers.
• All user data is encrypted using the AES-256 before being inserted into the database.
• KuBitX has designed a customized security architecture to ensure encryption keys are stored very well.
• Secure offline multi-signature cold wallets/vault system.
• Our system is fully GDPR compliant.
• KuBitX has developed a third-party code verification and penetration testing functionality.
- Financial Inclusion – The emerging markets today especially in Africa and Asia suffer from a large chunk of their population being out of reach of the traditional banking system. Banks become controllers but here the person becomes the controller because P2P transactions are possible through their phones. The philosophy of the Blockchain era is excluding the third party and use P2P transactions. Africa has large amount of unbanked people hence KuBitX will educate people how to take advantage of Blockchain philosophy thus enhancing financial inclusion.
- Economic development of the emerging markets – On a macro level, the emerging markets like Africa experience from low GDP rates, high inflation and generally poor economic growth. KuBitX with extensive strategic partnerships with the private and public sector, have designed an institutional investment plugin on the KuBitX engine to enable a higher volume of crypto trading and traditional capital trading functionalities. For instance, Zimbabwe uses a legal tender which is not native to their country thereby creating a negative impact on all aspects of their economy. KuBitX will be creating opportunities for a digital economy thereby allowing each nation to run its own economy and giving it an opportunity to play in the global market.
Our vision is one of collective growth for all market participants, both our customers and the KuBitX ecosystem, thereby contributing our share to the growth of the market itself.
For more information:
Website : http://www.kubitx.io/
Whitepaper : https://kubitx.io/KuBitX_Whitepaper_v1.1_En.pdf
Twitter : https://twitter.com/kubitx
Facebook : https://www.facebook.com/kubitx/
Telegram : https://t.me/kubitx_official
Ann Thread : https://bitcointalk.org/index.php?topic=4628365
Profile : https://bitcointalk.org/index.php?action=profile;u=2253946;sa=summary