Going one step above the plethora of cryptocurrency platforms emerging to fulfill the needs of investors, Konios will provide a secure means for users to engage in face-to-face (F2F) transactions involving cash. By increasing liquidity and enabling users to exchange cash with cryptocurrencies, Konios will serve as a catalyst for increasing the popularity and use of cryptocurrencies.
The obstacles facing cryptocurrency users have prevented more widespread adoption of them. Recently, Visa and Mastercard have made it more difficult for users to purchase cryptocurrencies with their credit cards by treating them as a cash advance with higher rates of interest and fees. Many banks have prohibited the use of credit cards to purchase cryptocurrencies. Though traditional financial institutions have reacted in a hostile manner to this emerging technology, the trend is toward their increased use and growth of market capitalization. Konios, like many cryptocurrency platforms, is simply finding ways to circumvent the difficulties in the current market landscape, and in so doing will empower consumers by giving them more options for their financial well-being.
The Konios platform will feature a wallet that can be accessed using a mobile device, tablet, or desktop. Users will be able to see their cryptocurrency ownership and values, their transaction history, and will be able to frictionlessly exchange cryptocurrencies. The Konios platform will also have a search function allowing users to find other users to initiate a F2F cryptocurrency for cash transaction using a smart contract. The F2F transaction has multiple steps involving scanning a QR code during the meeting and further verification from users to ensure the seller has received the correct amount of cash, leading to the release of the cryptocurrency to the buyer through the smart contract. Users can choose to have a validator oversee F2F transactions involving substantial amounts of cash for a fee. After each F2F transaction, users will be able to rate those they have transacted with, thus providing valuable feedback on their trustworthiness.
The currency powering the platform is the KON token, an ERC20 token using the Ethereum blockchain. KON tokens are rewarded to users for activity within the ecosystem, including registering and receiving positive reviews. Businesses can earn KON tokens by allowing users to safely engage in F2F transactions at their location. No more than 5,000,000,000 KON tokens will be minted.
The highly-anticipated Konios ICO begins May 1, 2018 and ends June 30, 2018. During the ICO, the KON token can be purchased for $0.01, with bonuses available depending on the phase of the ICO.
*I am receiving KON tokens for the growth of the community.
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