INTRODUCTION
There is a massive revolution in the investment market with stringent measures of capital control by numerous countries to regulate money flow and taxation. And there is a regular subjection of bank transactions which involves digital currencies to lots of limitations and restrictions. Blockchain technology is an excellent alternative to fiat money, creating a digital contractual world of transactional transparency and efficiency leading to massive revolution. KitToken, a blockchain-based which is an open financial platform has been designed to create convenience in cryptocurrency transactions for all business in the global FinTech community. The platform, built on a high dependable transactional model, is created to solve digital currency circulation challenges, ensuring absolute convenience for doing business.
AIMS OF THE PROJECT
The platform hopes stabilize and standardize the relationship between crypto and fiat,without separating from the reality in the FinTech market and the real world of cryptocurrency and also creating a good relationship between merchants and users
he platform is aiming to provide services designed strictly for business and FinTech companies that are interested in using digital currencies such as peer-to-peer platforms, insurance companies, e-Wallet, etc, for their work. Kittoken aims at providing legal financial cover to their customers in order to eliminate complaints on full compliance with local and international legislation. And a profitable environment
CHALLENGES
The numerous problems include traditional bank's refusal to operate an account or block or even block the already opened ones involved in cryptocurrency transactions, basically expressing fear to work with crypto currencies and FinTech platform.
Another challenge lies is the enormous task of maintenance and demonstrative compliance of some cryptocurrencies due to the nature of its rapid change and diversity in the regulatory requirements, thereby making it very complex. Other problems associated with the open financial system are high technical banners which makes the purchase of cryptocurrency confusing for users, high fee rates, slow transaction confirmation process, the absence of interaction with existing bank accounts and funds in fiat currency, lack of merchants who accept their currency, difficulty in converting among various cryptocurrency, etc.
Features of KitToken
SOLUTION
In order to build an efficient, easy and safe solution for the integration of cryptocurrency into business, kittoken has adopted a transactional model, operating under the Best2Pay technologies. Of high value is the fact that kittoken leverages off present good peer to peer technologies and services adopted by FinTech business, e-commerce, etc. Utilizing Best peer to Peer. kittoken allows the transfer of cryptocurrency which is used for payment for goods and services at online stores to a bank card. At a highly reduced cost, cross-border transfer of fiat currencies is carried out at ease with cryptocurrencies.
It projects the implementation of tedious projects taking into consideration the unique specification of business processes, target clients, etc.
Kittoken is rapid, easy and updated, evolving for the new world. The cost of the transactional interchange is surcharged by the Bill Payment System by 42.8%, and offers the most favourable conditions for banks.
Using an e-commerce and FinTech Focus Project, the technology is the foundation if a real successful processing center serving more than 1.5 million subscribers awaiting an increment of 34% monthly. With the capacity to rapidly and conveniently convert funds between them, it maintains both fiat currency and cryptocurrency. With the White Label model, the platform makes available tools for payments to be made by customers using brand names. Kittoken and kitpay are the two etheruem based currencies derived from kiitton platform .
Project Road Map
For more information, kindly visit any of the official links below:
Website: https://kittoken.net/
Whitepaper:https://img1.wsimg.com/blobby/go/030bdbd0-d698-4aa3-ba4d-d2bc680f2ec9/downloads/1ckcml5k4_576533.pdf
Medium: https://medium.com/@kittoken.official
Facebook:https://www.facebook.com/KitTokenOfficial
Telegram: https://t.me/kittokenofficial
ANN thread:https://bitcointalk.org/index.php?topic=4803362.0
Writers information
Bitcointalk name: Chika08
Bitcointal profile link: https://bitcointalk.org/index.php?action=profile;u=2107609