NEW FUTURE OF STK | A NEW CRYPTOCURRENCY

BACKGROUND
The STK token will enable real time point of sale (POS) transactions directly from users’ private cryptocurrency wallets. We predict the ability to make purchases in-store and online using cryptocurrencies will speed up mass adoption of the technology. The STK token is part of a global solution to facilitate borderless transactions. To make instant payments at point of sale from a blockchain wallet requires we do a real-time exchange of cryptocurrency into fiat. The STK token provides access to our state channels which a) ensure there is sufficient cryptocurrency (i.e. Bitcoin, Ether) in the digital wallet and b) users spending fiat at point of sale will complete the purchase from their cryptocurrency assets. STK automatically opens a state channel between each user and STK’s own wallet. STK tokens fund the transaction, much like gas funds Ethereum transactions. The first implementation will be with STACK’s digital wallet. STK tokens will be implemented on the public Ethereum blockchain and adhere to the ERC20 protocol.

VISION
STK Global Payment’s vision is to create a globally accessible alternative to traditional banking, allowing you to store your money safely, access it instantly and transact with it anywhere, in any currency including crypto by using the STK token, right from your smar tphone, using the STACK app. Creating a digital wallet as a companion to a traditional card solution, the STACK app enables you to use any of your currencies at point of sale, anywhere in the world.
STK will be a platform that will facilitate real-time cryptocurrency transactions at point of sale.

CURRENT LIMITATIONS OF BLOCKCHAIN SETTLEMENT
Our goal is for this exchange to occur in real time, anywhere credit cards are accepted, and with fees comparable to transaction costs on Ethereum. At present, the confirmation time for Bitcoin transactions averages 10 minutes , far too long for point of sale purchases. Ethereum transactions are faster, at an average time of 24 seconds, but even this is too slow for point of sale. 2 Furthermore, neither the merchant nor the local currency provider are willing to wait the required amount of time for the transaction to be confirmed on the blockchain, which is critical to protecting both par ties against fraud.

STK STATE CHANNEL AND STK TOKEN

There is a two-pronged problem that the STK solution will solve:

1. A lack of merchant acceptance of cryptocurrency.
   STACK has par tnered with an existing payment network that will allow the cr yptocurrency wallet to be used at 39 million merchant locations.
2. Payments at point-of-sale must complete in near-instant time.
   Rather than writing each payment transaction to the blockchain, STACK, will create State Channels between the customer and STACK. These channels are an established way to provide real time transaction guarantees on the blockchain. Once this is done, customers’ transactions will be funded through STK’s liquidity pool to make point of sale purchases instantly.
   To use this system, the user is required to hold a STK token which grant access to the STK State Channel and will be limited to those who have STK tokens.

STK IS A SOLUTION THAT CAN BE IMPLEMENTED GLOBALLY, WITH THE FIRST IMPLEMENTATION OCCURRING WITH STACK
In order for users of the STACK wallet to transact in real-time, the STK solution will be integrated into the STACK digital multi-currency wallet. This functionality can only be accessed with a STK token. The STK token will be used to pay for the operating cost of setting up the State Channel. Because STK tokens can change in value, the price per transaction is calculated similarly to how gas prices are on Ethereum.

STATE CHANNELS

State Channels allow us to conduct blockchain interactions as if they were being conducted on-chain, but require only that two or more users exchange information with each other. Participants in a State Channel may exchange a large number of transactions between one another instantaneously, requiring an on-chain operation only when the channel is closed. State Channels provide the speed required for STACK’s point-of-sale purchase mechanism: at the moment of purchase, the user sends STK tokens to STACK in exchange for STACK using their liquidity pool to make a fiat purchase through the global payment network. This is a cost effective approach to enabling transactions

HOW IT WORK?
Step-by-step process:

1. Creating a State Channel:
   The user loads their STK token into the STACK mobile wallet, which authorizes the creation of a State Channel with the STK platform. Both the user’s device and STACK keep a local copy of the current state of the channel. Creation of a state channel requires an on-chain operation.
2. Conducting Transactions and State Changes:
   When the user initiates a point of sale transaction using STACK, they receive a visual prompt in the STACK wallet showing the value of the transaction, similar to using traditional tap-to-pay mobile applications.
   Behind the scenes, the user authorizes a transaction to send the equivalent cr yptocurrency to the STK platform. Almost immediately, the STK platform receives the signed transaction, counter-signs and stores a copy of that new state off-chain. STK then authorizes its local currency account to pay the requested purchase through its global payment network rails on behalf of the user. Because the transaction occurs off-chain, there is virtually no delay except for a small amount of computation time and network latency.
3. Keeping Funds Ready:
   So long as the State Channel is open, there are no fees for conducting any number of transactions between the user and STK. Moreover, there is no fee for keeping the channel open.
4. Withdrawing Funds:
   If the user wants to retrieve all or part of their STK token in the channel that has not been sent to STK, they can do so by withdrawing their funds. The user signs and publishes a withdrawal request, which requires an on-chain operation. It is possible to make partial withdrawals, so the user is always secure in being able retrieve his or her ether while still keeping the channel open for future transactions with the STK network.
5. Closing:
   To close a State Channel, one of the par ties signs and publishes a close request to the State Channel. This initiates a period during which either party can submit their most recent transactions, which determines the final state of the state channel.
   

WHAT IS STACK?

STACK is an alternative to traditional banking with a better way to spend, save and share your money, fee-free and straight from your mobile. Our app provides its members with smart solutions to personal finance, with features like real time notifications, ef for tless savings, financial IQ and mobile tap-to-pay functionality. STACK accesses a global payment network that enables worldwide acceptance of the STACK wallet around the world. The STACK wallet is a container for 10 sub-accounts that can hold up to 10 distinct currencies – both local currency and crypto.

COMPETITIVE LANDSCAPE
Unlike other cr ypto payment solutions, STACK also provides alternative financial ser vices in local currencies. Our digital local currency account is a gateway to widespread cryptocurrency adoption, pairing it with access to mainstream financial ser vices and smar t new features on a simple, user-friendly platform. Currently STACK is in beta, and mobile tap-to-pay functionality is already built in.

TOKEN GENERATION EVENT
STK tokens will be available for purchase on the STK token sale site (www.stktoken.com) commencing November 13, 2017 at 17:00:00 Coordinated Universal Time (UTC). The cost per STK token is $0.16 USD. STK tokens for sale represent 55% of all STK tokens. A maximum of 310,345 ETH and a minimum of 3,600 ETH will be accepted for the sale of STK tokens. STK tokens are not available for purchase for residents of United States of America or Canada In order to further develop and promote the STK platform, STK will conduct a token generation event that will offer for sale 550,000,000 STK tokens out of a 1 billion total supply. The proceeds of the TGE will be used for marketing, solution development (both iOS and Android), integration of STK with STACK and the operation of crypto to local currency exchange. The remaining will be reserved for the liquidity pool, bounty programs and referrals.

ROADMAP

STACK MONEY SERVICES
STACK is a revolutionar y new approach to personal finance, providing a fee-free alternative to traditional banking with a globally accessible platform to spend, save and share your money, in any currency, at any time and straight from your mobile. STACK is creating a community of users who celebrate moments that matter by sharing stories and providing personalized solutions to reach financial goals faster than ever before. Our digital fiat account provides a gateway to widespread cr yptocurrency adoption by pairing it with access to mainstream financial ser vices and smar t new features on a simple, user-friendly platform.
STACK offers its members fee-free, digital money ser vices including:
• Real time conversion from cr ypto to local fiat currency at point-of-sale
• Tap-to-pay functionality on the STACK mobile app and on par ticipating 3rd par ty mobile wallets
• Multi-currency wallet (cr ypto and fiat currencies)
• Chip-and-PIN EMV card
• Social sharing to celebrate moments that matter on the STACK World Stream
• The ability to withdraw cash from any ATM
• Tips, tools and tailored advice to reach your financial goals, faster
STACK UP Savings
• Create savings goals as broad or as specific as you like.
• Automated round-ups help you save a little or a lot.
• Categorize your goals to receive relevant offers and rewards based on what you’re saving towards.
Financial IQ
Being smart with your money means you’ll have more of it to spend on the things that matter. STACK gives you personalized tools to help you reach your goals faster.
 Spend Trends keeps you on track, providing insight into your spending and saving goals (i.e. the categories where you are overspending). STACK will be able to index your spending against similar peer sets and cohorts so that you’ll know exactly how well you are stacking up against others in your same financial situation.
 Receive offers and rewards that are tailored just for you.
 Categorized spending helps you see where your money goes.
Security
STACK uses industr y-leading safeguards to protect your money, data and privacy, so accounts are secure and protected.
• Chip and Pin EMV Cards
• Transition Notifications
• In-app card freeze, pin resets
STACK has built in KYC, AML and fraud monitoring processes.
• Onboarding process utilizes waterfall methodology to verify the user using Trulioo’s GlobalGateway
• AML Watchlist to comply with domestic and global Anti-Money Laundering (AML), Counter Terrorist Finance (CTF), and sanctions enforcement regulations.

Team

More Information Visit :
Website : http://stktoken.com
Twitter : https://twitter.com/stktoken
Reddit : https://www.reddit.com/r/STKToken/
Medium : https://medium.com/@STKtoken
Telegram : https://t.me/stktoken
Discord : https://discordapp.com/invite/38EXN5D
Whitepaper : https://stktoken.com/STK_whitepaper_en.pdf