KubitX - FIRST TRULY GLOBAL EXCHANGE!! P.2

nhochime (31)in #ico • 6 years ago (edited)

hello, how are you today, welcome to my blog!

KubitX

1. KuBitX VISION AND MISSION:

The ideation process behind KuBitX was undertaken keeping in mind the broader visionto educate, enable and engage people from emerging markets in the cryptocurrencyecosystem. The technological development that has taken shape since the dawn of theInternet era has been top-down, i.e., from the developed nations towards the developingnations. This has created a gap in the overall development process thus compellingpeople from the emerging markets following the trail of development rather than beingactive contributors in shaping the process. KuBitX aims to leverage the emerging technologyto 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 – KuBitXhas come up with a unique initiative called Global Channel Ambassadors to enter,understand and capture local emerging markets. We aim to tackle the socioeconomichindrances to adoption. The KuBitX Global Ambassador Initiative willreach the grassroots to drive local adoption.
Liquidity improvement – Liquidity is one of the most important pillars of any exchangethat exists. Many exchanges today suffer from a liquidity crunch leavingusers stranded with their currencies. To tackle this, we plan to involve marketmakers to build sustainable volume on the exchange, reducing cost of transactionsand simplifying the complete process. To avoid wash trading, we have AntiMarket Manipulation (AMM) tool on the platform. Market surveillance, supervisionand compliance are being looked into very carefully. The admin can choose tofreeze an account associated with suspicious trading.

Robust Security – Security is one of the most crucial pillars surrounding a cryptocurrencyexchange. We at KuBitX do take the security of the whole platform veryseriously. Hereby, we not only are developing our own exchange system securebut also plan to make users aware of various frauds and hacks going on in themarket. Following are the security measures taken by the team:

We are storing the password hashes and not the original passwords in ourservers.
All user data is encrypted using the AES-256 before being inserted intothe database.
KuBitX has designed a customized security architecture to ensure encryptionkeys 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 testingfunctionality.

Financial Inclusion – The emerging markets today especially in Africa and Asiasuffer from a large chunk of their population being out of reach of the traditionalbanking system. Banks become controllers but here the person becomes thecontroller because P2P transactions are possible through their phones. The philosophyof the Blockchain era is excluding the third party and use P2P transactions.Africa has large amount of unbanked people hence KuBitX will educatepeople how to take advantage of Blockchain philosophy thus enhancing financial inclusion.

Economic development of the emerging markets – On a macro level, the emergingmarkets like Africa experience from low GDP rates, high inflation andgenerally poor economic growth. KuBitX with extensive strategic partnerships with the private and public sector, have designed an institutional investmentplugin on the KuBitX engine to enable a higher volume of crypto trading and traditionalcapital trading functionalities. For instance, Zimbabwe uses a legal tenderwhich is not native to their country thereby creating a negative impact on all aspectsof their economy. KuBitX will be creating opportunities for a digital economythereby 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 andthe KuBitX ecosystem, thereby contributing our share to the growth of the market itself.