KUBITX: First Truly Global Exchange Platform
cryptocurrency·@seunola·
0.000 HBDKUBITX: First Truly Global Exchange Platform
 Cryptocurrencies is one of the most important inventions since the inception of the web. They are ushering in a new era of decentralization, privacy, and control of one’s own data that has the potential to revolutionize many parts of society. There are currently over one thousand cryptocurrencies in use, with hundreds more being released each year. Their combined market cap has grown from $10 billion in 2016, to over $400 billion at the time of writing, having previously been much higher. Only 1% of the world’s population own cryptocurrency. Companies involved with blockchain, the technology behind cryptocurrencies and altcoins are expected to experience significant growth over the coming years. Blockchain technology can solve dozens of previously intractable problems, like digital identities, supply chain integrity, data breaches and many, many more. The use of blockchain technology within society has been exponentially increasing since it was introduced to the world by Satoshi Nakamoto. The first use of blockchain technology was bitcoin. According to Gartner Insights, blockchain, the driving force behind the crypto market is estimated to grow in business value to $3.1 trillion by 2030. Blockchain is the fastest growing market in the world and the Kubitx token offers investors an opportunity to benefit from the growth in value. The age of blockchain technology is just beginning. Before I proceed on this work lets take a look at this video in order to have a clue on what this platform is all about. https://youtu.be/McOZVENoZFA KUBITX KuBitX is a 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. GOALS 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. KUBITX VISION AND MISSION The idealization 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. PROBLEM Due to some crucial shortcomings in the present Cryptocurrency exchange ecosystem, they came up with the idea to create a new cryptocurrency exchange. Some of the shortcomings are: Lack of a mature ecosystem Lack of regulations on the way trades operate on the exchange often allows “whales” to manipulate the prices of certain currencies which is against the interests of other traders. Despite the cryptocurrency space growing rapidly and currently having a market cap of about $300 billion the trad-ing ecosystem is still premature. There are several exchanges which suffer from serious liquidity concerns and many charge high trade fees which are very expensive to many people around the globe. Friction in dealing with fiat currencies Often getting liquidity in fiat currencies against crypto assets is a hassle and leaves currency holders at the mercy of market volatility which often can lead to people losing out on money due to delayed processing either by the exchange or the banks. Lack of good customer support Traders often complain of bad user experience due to the non-responsive customer support provided by many exchanges. Often it is either the lack of management staff to handle the requests or a lack of will which leads to a poor customer support. We identified that most of the exchanges do not spend enough on customer support. Security issues The cryptocurrency space is often being bombarded by hackers who try to use the vulnerabilities present in the exchanges to their benefit. Many exchanges in the past have suffered cyber attacks which has led to losses in the order of billions of dollars. Often, not following the industry standards and neglecting the basic rules of cyber security allow for such attacks to happen. Thus exchanges do have a huge responsibility on their shoulders to protect the hard earned money of their customers. Lack of awareness and education among the masses leading to a low adoption rate Due to a lack of education and knowledge about the Blockchain and cryptocurrency space, people are reluctant to be a part of the cryptocurrency ecosystem which has led to the market being dominated by a select group of traders who are able to manipulate the market at will. This fluctuation and volatility further lowers the rate of adoption of cryptocurrency trading. SOLUTION They came up with an idea that they can provide sustainable and progressive solutions to the above stated problems through comprehensive planning and diligent work and to educate, enable and engage people from emerging markets in the cryptocurrency ecosystem. ADVANTAGES OF KUBITX High Scalability Our platform is highly scalable, ready to accept new features to improve our users trading experience. Secure We have made an extensive benchmarking with the current platforms, which allowed us to take few steps ahead, plus our security team comes from top organizations. Low Fees Our fees are the lowest around, it is even lower when you choose to use our native token the KBX for fees payment. Trading fee on KuBitX exchange is 0.05%, however, the users opting to use KuBitcoin(KBX) tokens as a method of payment of trading fee will get a discount of 25% compared to the original trading charges. - Trading fee = 0.05% - Trading fee using KBX token= 0.0375% Minimized Risk Our multi-signature wallet and cold storage strategy will minimize the exposure of our trader’s funds. We have combined various strategies to secure the funds traded on our platform. Blockchain Our token is initially based on the Ethereum blockchain. We plan to launch our own chain in the near future which will then be very useful to many cases such as the most common social, utility, administration, and governance problems in developing countries. Ecosystem As strong believers in peer to peer payment ecosystems, we believe that traditional financial systems will eventually be replaced partly due to continuous broken trust, censorship and a growing enlightenment of the populace. KBX TOKEN SALE AND ICO The KBX token will be used to pay trading fees on the KuBitX platform and any further use specified in the KuBitX White Paper will be implemented in stages. TOKEN DETAILS Token Name: KuBitcoin Token Symbol: KBX Token Type: ERC20 (Ethereum) Decimal: 18 Total Supply: 500,000,000 Currencies Accepted: ETH Token Price: 1 ETH = 8,909.09 KuBitcoin (KBX) Soft Cap: 10,000 ETH Hard Cap: 25,000 ETH Pre-Public Round Bonus: 20% Public Round Bonus: 10% Unsold Tokens: All Burned TGE Details: Seed Round: Ongoing. Ends July 16, 2018. Pre-Public Round: 16 July - 31 August, 2018 Public Round: TBC TOKEN DISTRIBUTION  2% BOUNTY & AIRDROP 3% BANK ADVISORY 16% PUBLIC ROTARY 20% KUBITX INVESTMENT FUND 23% ESTABLISHMENT & DEVELOPMENT 36% PRE-PUBLIC ROUND DISTRIBUTION OF FUND  5% PARTNERSHIP 7.5% LEGAL 12.5% OPERATION 15% TECHNOLOGY 15% PROMOTION / MARKETING 15% BACKUP 30% LIQUIDITY ROADMAP  Q4 2017 Project Initiation Project Feasibility study Benchmarking Q1-Q2 2018 Project Engagement Team Structuring Legal Process for incorporation in Malta Whitepaper Creation (FIRST DRAFT: BUSINESS) Angel/Seed Investor Engagements Q3 2018 Project Execution Launch of Kubitx channels Ambassadors (FLAGSHIP COUNTRIES) Prototype Start of Pre-Public round of TGE Exchange soft (BETA) Launch Q3-Q4 2018 Project Execution (contd.) PHASE 1: Financial services integration with Kubitx End of Pre-Public round Exchange go-live Public round of TGE Global Promotions Q1-Q4 2019/2020 Project add-ons Kubitchain - Kubitx Exchange now on Kubitx Blockchain Platform Redesign Continuous Improvement MEET THE AMAZING KUBITX TEAM     ADVISOR    For more information, please visit: Website: http://www.kubitx.io/ Whitepaper: https://kubitx.io/KuBitX_Whitepaper_v1.1_En.pdf ANN Thread: https://bitcointalk.org/index.php?topic=4628365.0;all Twitter: https://twitter.com/kubitx Facebook: https://www.facebook.com/kubitx/ Telegram: https://t.me/kubitx_official Reddit: https://www.reddit.com/r/KubitX/ YouTube : https://www.youtube.com/channel/UCm6o0xRXXlrPR0-OqcBwXOA  Author: Seunola MyBitcoinTalk profile: https://bitcointalk.org/index.php?action=profile;u=1925064 ETH Address: 0x3eb48CF7E0A5570540641DD8263cA40e307562e9