Business Model
KUBITX's business model
consists of revenue streams from market commissions and management
fees. This section will explain how the revenue stream and KuBitcoin token
(KBX) has been integrated into the system, giving an idea of how KuBitcoin
token (KBX) holders will be rewarded.
25% discount for using
KuBitcoin tokens (KBX): KuBitcoin tokens (KBX) are easy to use as a payment
method for negotiation costs. In addition, users who choose to use
KuBitcoin tokens (KBX) as a method of trading commissions will receive a
discount of 25% compared to the original commercial rate. If the accounts
receivable are NEO, we will calculate the exchange ratio of NEO to KBX at the
market price, based on the market price of NEO / BTC and KBX / BTC. Exchange
rate NEO / KBX = NEO / BTC [price Market] / (KBX / BTC [market
price]). The KuBitX update cycle for the market price is 1 second.
LANGUAGE
DIVERSIFICATION
KuBitX has identified
that language barriers becomes issue for customer support, as a result - poor
customer support ratings happen. At KuBitX, our global channel ambassador
program will ensure that we have local dialect presence in each country so that
customer support experience can be heightened and turn around time can be
faster for responses.
FASTER
TRANSACTIONS PER SECOND (TPS) SPEED
KuBitX competes with
global rivals with current exchanges doing about 1.4 million transactions per
second. KuBitX is built to trasact at 12 million transactions per second.
Avoiding exchange crashing, creating more to trade at faster speed.
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:
1. 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. We aim to tackle the socioeconomic hindrances
to adoption. The KuBitX Global Ambassador Initiative will reach the grassroots
to drive local adoption.
2. 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, we 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.
3. Robust Security –
Security is one of the most crucial pillars surrounding a cryptocurrency
exchange. We at KuBitX do take the security of the whole platform very
seriously. Hereby, we not only are developing our 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:
• We 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.
• Our system is fully
GDPR compliant.
• KuBitX has developed a
third-party code verification and penetration testing functionality.
4. 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.
5. 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.
Our vision is one of
collective growth for all market participants, both our customers and the
KuBitX ecosystem, thereby contributing our share to the growth of the market
itself.
EXCHANGE
ARCHITECTURE – KuBitX
The KuBitX Exchange is
designed to operate at low latency, high throughput, and maximum uptime. By
incorporating geo-replication in its architecture, the exchange is built to be
fault tolerant, ensuring that the platform delivers a seamless and
uninterrupted trading experience to its users. Below is a high-level
abstraction of the exchange architecture showing how the different systems
within the exchange are connected logically.
Website : http://www.kubitx.io/
Website : http://www.kubitx.io/
Whitepaper : https://kubitx.io/KuBitX_Whitepaper_v1.1_En.pdf
Twitter : https://twitter.com/kubitx
Facebook : https://www.facebook.com/kubitx/
Telegram : https://t.me/kubitx_official
Ann Thread : https://bitcointalk.org/index.php?topic=4628365
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