KUBITX: 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.

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