KUBITX PLATFORM : FIRST TRULY GLOBAL EXCHANGE

adelekejustin01 (39)in #blockchain • 6 years ago (edited)

Good day everyone,i would be writing about the KUBITX PLATFORM like i did the last time,click on this link in order to have an overview of it https://steemit.com/blockchain/@adelekejustin01/introduction-to-kubitx-platform-first-truly-global-exchange . Today i would be writing on the following;
A) KUBITX VISION AND MISSION
B) WHAT MAKES KUBITX UNIQUE?

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.
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. They 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, they 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. They at KuBitX do take the security of the whole platform very
seriously. Hereby, we not only are developing their 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:
• They 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.
• Their 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. Their vision is one of collective growth for all market participants, both thier customers and the KuBitX ecosystem, thereby contributing their share to the growth of the market itself.

WHAT MAKES KUBITX UNIQUE?
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.They 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.
a. KUBITX AMBASSADORS – THE VALUE PROPOSITION...OUR DIFFERENTIATOR
Ambassador/Channel Program:
The Ambassador program is key to entering, understanding and capturing the local
emerging markets.
An innovative offering like KuBitX will not be understood and adopted without engaging
with people locally in each region
It will not be sufficient to run traditional adverts, social media or digital marketing techniques.
In the target markets, education/awareness creation by regional people will form the basis
for understanding the Blockchain technology, crypto-currencies and the offerings of
KuBitX.

WHAT’S THE VALUE OF AMBASSADORS?

Ambassadors will engage with people in multiple ways, e.g. via information
events in cities & large towns. Furthermore, they will connect with local influencers
and people involved in government and regulation
The Ambassadors will help us accelerate crossing the chasm in their respective
regions, helping KuBitX to be adopted much faster, and thereby reducing the
budget for advertising in these regions.
The Ambassadors being in-country will help us gain a better understanding of
how we can drive the adoption of KuBitX and the inherent values it will bring
across the Socio-Economic sphere of each country in the emerging countries.

Their goal is to enable the seemingly ordinary or day to day people and businesses from
small to large to use the features of KuBitX for exchanging money from fiat into crypto
or to make cheaper international payments.
Using Ambassadors who travel the country they make sure they get in touch with the everyday
people.
They have already identified and started to work with extremely qualified people for this
position, which has already provided us with unique insights into local markets and
needs. In many areas, the proficiency in the English language is not sufficient to confidently
work with this new technology, but Ambassadors will help to bridge this gap by
speaking the main local language.
The benefits of the Ambassador program will be measurable, accountable and necessary
and periodic improvements may need to be made to make this a worthwhile investment

b. FINANCIAL SERVICES
Their strategic partnerships with banks and payment providers are helping us to create a
full-service financial institution with cryptocurrency integration. This entity will provide all
of the traditional banking services and more:
• Funds transfer (wire and peer-to-peer)
• Payment processing
• Merchant servicing
• Remittances
• Bill payment
• Trade Financing
Additional service offerings:
• Track and spend digital currencies in a single account.
• To connect their account with any existing digital currency trading platform.

THANKS FOR READING.
To know more about this project;
visit the website:https://www.kubitx.io/
join the telegram group: https://t.me/kubitx_official
my bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=1070043
whitepaper link: https://www.kubitx.io/wp.pdf
facebook link: https://www.facebook.com/kubitx/
twitter link: https://twitter.com/kubitx
ANN Thread link: https://bitcointalk.org/index.php?topic=4632164.0
Explanatory video link: