INTRODUCTION
Making of payments for transactions conducted establishes a relationship between both the merchant and the seller. Not only that, but it also promotes the continuity of doing business with both parties. Almost every organization and institution wants to have the best and swift payment system for its customers. Initially and almost everywhere around the world there has been the use of fiat currency to make payment for items and transactions that are conducted.
The seek of swift payment system gave birth to electrical payment system such as Paypal, Visa Card, Master Card and all sorts of electronic cards that allowed people to make payment for goods and services that are delivered to them.
The electronic system was widely accepted by most countries because of how it made people conduct all sorts of trade without necessarily carrying any cash with them. The trading systems of the world has advanced way beyond these electronical payment to the extent that they are not able to serve merchants and their customers to the maximum.
It is against this back drop that Kit Token wishes to combine the blockchain technology in establishing a payment platform system which would offer amazing offers to both traders and their customers.
CHALLENGES OF CURRENT PAYMENT PLATFORMS.
In as much as these payment systems really made the payment of transaction easy it has several challenges that does not allow it to serve traders fully as they should be.
High Cost of Transaction Fees
Charging customers for the transactions that they make is something which is really understandable since the developers of the system really need to keep the platform running and they do this by charging traders some amount of transaction cost. This transaction cost by some platform are very high that traders earned up losing quite a chunk of money in these platforms. On cumulative effect, imagine how much these payment platforms are making from traders upon long term basis. This apparently means that users are losing money to these payment platforms with every little transaction that they do.
Insecurity
The crypto community which is bound in anonymity has brought about so many bad nuts within the community and some of them engage in all sort of third-party infiltration such as hacking. The issue of unauthorized third-party infiltration in the crypto community has become rampant for quite sometime now and it is really disturbing because such issues taint the image of crypto activities. Both individual and exchange wallets have been hacked in one way or another and the latest of them is the issue that happen at Coinrail exchange platform.
Restricted Geographical Coverage
Most of these payment platforms have not extended their services to every nook and cranny of the world and this sometimes restrict users within such countries from using the services of such payment systems. Not only that but also members who might have been using the payment system are also unable to conduct transactions whenever they get into these restricted zones. You can imagine the uncomfortable feeling that may result when as a trader you find yourself ready to make payment for a transaction that you might have conducted and you realize that you cannot make payment in those areas and unfortunately you don’t have any fiat currency on you. Your guess is as good as mine, very disturbing.
THE SOLUTION KIT TOKEN PAYMENT PLATFORM OFFERS
The blockchain technology has been admired several people because of how it was specially designed by its unknown inventor but popularly known as Satoshi Nakamoto. The blockchain technology is very secured that unauthorized parties cannot have access into any system built unto it. Not only that but also its decentralized nature also makes it available for users to access any information from all around the world. To top it all, the blockchain ledger system also organizes information in an orderly manner so that data can be quickly retrieved in the future. Kit Token is built on the blockchain technology to provide efficient services to its members in the following ways:
Maximum Security
Kit Token payment platform adopts the security features of the blockchain technology to provide absolute security for all its members and transactions that they are engaged in. This is to prevent hackers and scammers from gaining unauthorized access to the accounts of traders on the Kit Token platform. Money is really hard to come by these days and so it is very heartbreaking to have your hard-earned funds just stolen by somebody. Several people have suffered in the hands of these hackers on very huge losses and I guess the time is right for us all to provide maximum security for our cryptocurrency portfolio.
Fast and Low Transaction Rate
The Kit Token platform would also ensure that transactions are done at a very fast rate as a form of offering better services for its members. Personally, I have encountered the problem of slow rate of some payment systems and I am sure you have also been in such a similar situation and you are very much aware of how unpleasant that could be.
Furthermore, another feature of this Kit Token payment system is that in as much as it offers fast transaction rate, the system charges only a few amount as low transaction fees. Many cryptopreneurs are crying about the cost of transaction for quite sometime now. The reason is because transactions that are made in bitcoin really take time to be confirmed unto the blockchain and so in order to have your transaction confirmed at a very fast rate then you have to pay huge cost of transaction.
Promotes the interaction between Merchants and Customers
The constant communication and interaction between both merchants and traders is very necessary as it helps in promoting the business of merchants and also helps customers to make orders to merchants without any difficulty. The Kit Token Payment platform which is based on a decentralized platform would help connect traders and merchants all over the world so that distance does not become a stumbling block in the conduction of transaction.
Please refer to the whitepaper for more details about how KitPay Web Platform and its Security features work.
TOKEN DETAILS
ROADMAP
TEAM MEMBERS
CONCLUSION
The are several payment platforms and systems that are in operation at the moment but believe me none has the functions that KitToken platform provides for its members. With a very experienced group of individuals supporting this project you can be rest assured as an investor of this project that your funds are going to be put to good use.
Please connect with the team of the project on the following lines:
Website: https://kittoken.net
Whitepaper: https://img1.wsimg.com/blobby/go/030bdbd0-d698-4aa3-ba4d-d2bc680f2ec9/downloads/1ckcml5k4_576533.pdf
Telegram: https://t.me/kittokenofficial
Facebook: https://www.facebook.com/KitTokenOfficial
Twitter: https://twitter.com/TokenKit
Linkedin: https://www.linkedin.com/company/kittoken/
Youtube: https://www.youtube.com/channel/UC8pneLrdHF3NS59fyHyA1YQ
Bitcointalk thread: https://bitcointalk.org/index.php?topic=4803362.0
Authorship
Bitcointalk username: Kelvinikke
My Bitcointalk profile link is https://bitcointalk.org/index.php?action=profile;u=2087374