KitToken - Developing a Sustainable and Stable Financial Ecosystem on the Blockchain
Imagine a world where finance is truly global and borderless where any transaction can be completed by anybody with just a touch of a finger. A world where transactions didn't include high transfer fees, slow processing times, and were not limited geographically. This idealic world is what inspires KitToken, a world where individuals and businesses have the freedom and ease to make financial transactions with out the usual hoops and complications that may often arise.
KitToken is a self-managing financial system with peer-to-peer transactions that is working to develop a new digital currency and financial ecosystem using blockchain technology. It uses the SHA-256 hash algorithm, is written in solidity code, and uses value transfer protocol to process peer-to-peer payments and transactions. Being built on Ethereum allows all the features and rules of KitToken to be written and deployed into smart contracts. Ethereum smart contracts are optimal as they are created and enforced on the network and can't in any way be invalidated or manipulated and are transparent on Ethereum's public blockchain.
Transparency and security are ranked extremely high on the priorities list for KitToken. KitToken's decentralized network on the blockchain will help ensure transparency with recording transactions. They have built the open source platform KitPay which is a centralized server on the decentralized KitToken network. The KitPay platform is entirely secure and protected by firewalls and cybersecurity protection. The platform will also feature the cross-platform KitPay wallet which will allow secure, private, easy to use transactions and storage of KitTokens. KitPay will be Malaysia's first hybrid crypto wallet and platform.
KitPay uses the Proof-of-Work (POW) and Proof-of-Stake (POS) technology. POW entails the number of transactions or purchase of KitToken and POW will record the storage of KitToken in an individual's wallet for the purpose of distribution of profit. KitPay is planning on implementing a POS Scheme where KitToken holders will receive profit sharing from KitToken Inc. business activities. Web3.js will be used as communication between the Ethereum network and web apps, while KitPay and the front-end of applications will be using Node.js.
The KitPay platform will have both robust web and mobile applications. The web version of the platform will have secure user login, admin application to manage balances and transactions, and merchant web-forms to accept and process payments. The mobile application is similar to web but has the additional features of a QR-code scanner with device camera, finger or pin-code log in, and push notifications.
Both versions of of applications will feature:
-5 second transactions
-Allow users to generate a new address on the Ethereum network
-View their KitToken balance and make transactions
-View transaction history and pending statuses
-Create payment requests using QR codes
KitPay plans on working with merchants in the goods, medical services, service providers, air travel and hospitality, and educational industries who will all accept KitToken as a means for payment.
ICO Information
KitToken is currently holding their ICO and have already met their soft cap goal of $5 million USD. Their hard cap goal for the ongoing token sale is set at $175 million.
Early Bird Pre-sale Event : 20th to 25th July (Bonus 70%), 26th to 31st July(Bonus 50%)
ICO sale : 1st phase -August 1st to 10th (Bonus 30%)
2nd phase-August 11th to 20th (Bonus 20%)
General information:
Token name : KitToken
Symbol : KIT
Decimal : 18
Cost per token : $0.05
Total Supply : 8 Billion
For Reserve : 2.5 Billion
For sal : 3.5 Billion
Airdrop+Bonuses : 2 Billion
Contract Address
https://etherscan.io/token/0x080eb7238031f97ff011e273d6cad5ad0c2de532
Funds raised during the ICO will be allocated at 45% development, 10% reserves, 20% research and development, 15% marketing, and 10% will goto the team and advisors.
Learn more about the KitToken ICO and how to buy tokens here.
TEAM
KitToken Inc. is a company that was founded and incorporated in Singapore in 2017. KitToken Inc. has 10 founding members that have many years of experience in the tech and entrepreneurial fields. The CEO of KitToken is Amir Mohamed who holds an MBA in international business from the University of East London, UK. Before KitToken Mohamed was the CEO of Masterplan Center Sdn. Bhd, a data center company, as well as the CEO of Billadam, a mobile application and content development company.
Senior Vice President of Corporate Finance is Khalid Abu Hassan who holds a BS in Mathematics from Northern Illnois University. Hassan has also been the head of the Quantitative Department at Mara Institute of Technology and has acted as an constulted in business development for many projects. Mohd Taufik Abdullah is the Senior Vice President of Business Development. Abdullah has a BA in business and marketing from Bedfordshire, UK. He will be bringing in over 25 years of experience in international marketing.
The KitToken team also consists of a talented group of project developers, managers, and blockchain developers including Dr. SitiZaharah Ismail (chief strategy officer), Nurul Ain Hassim (chief information officer), Irma Mardiana Abu Rahim (backend developer), Ahmad Faiz Amir (lead programmer), Siti Salbiah Nur Hussin (blockchain intergration manager), Wan Asiah Wan Adnan (project manager), Maj Rusydi Noh Ramli (operation manager). KitToken also has the highly experienced advisers Sujith Somraaj, founder and CEO of StellarGold, Dato Mohd Anuar Sidek, cryptocurrency infrastructurist, and Ben Jones, cryptocurrency evangelist.
Learn more about the KitToken Team here.
Roadmap Going Forward
Following the ICO, in September the KitToken team will be launching the KitPay web wallet and mobile application version 1.0. In October the team will be focusing on business development and strengthening of partnerships. Marketing will also be a priority with the promoting of KitToken through international forum. The year 2019 will be a big one for KitToken as several websites and apps using KitToken will be launched. KitToken.inc travel and tour token will be one of the first projects to kick off the new year. Q1 plans also involve parterning with local and international banks and listings on major exchanges. Q2-Q3 is when the team plan on launching the KitToken Neurosciences Project and the KitToken Petroleum Bunkering Project. More information on the projects will be made available in the future.
See the complete roadmap here.
Learn more about KitToken on their official website. https://kittoken.net/
Read KitToken's whitepaper.
Follow KitToken on Twitter @tokenkit