Kubo’s Vendor Ecosystem
As crypto-currencies makes a push to be used more by the main stream as a means of payment for goods and services, the current situation a lot of projects find themselves in is finding crypto-friendly vendors and retailers that are willing to adopt crypto currencies as a payment option for their client base. Due to the volatility with in the crypto-sphere as the emerging market matures, it makes it difficult for business owners to keep the price of goods and services accurate to the daily changes of the cryptos being used to purchase. Alongside this, many retail users are still novice to the technical points and know how needed navigating the crypto space to use it as easy as debit, credit, or cash.
KuboCoin alongside its partners plan to tackle these current issues by providing a growing collection of vendors in its ecosystem for users to have a means to use their digital currency to purchase goods and services with the same level of convenience as the current traditional methods. At the time of this article, Kubo has partner with six different businesses in various fields ranging from fashion to food and is primed to add four more before the end of the 2018. Though a humble start, it speaks to the strong commitment the KuboCoin team has to the community as the project grows from its infancy stages despite the less than ideal market conditions currently present.
Alongside the growing vendor ecosystem, Kubo has in beta a chain payment solution on both mobile and desktop platforms thanks to its partners over at Aeryus and its own home exchange (ELO.Exchange) to allow more liquidity and ease of trading between various digital assets in the space. KuboCoin will allow both users and vendors to have a secure and reliable means of exchange as the chain payment solutions platform will have a dynamic API that will constantly track and adjust the price of Kubo relative to the cost of a good or service while still providing the vendor a lower fee to process crypto for goods (less than 1% versus 3–5% with major card companies like MasterCard). This allows for the end user to pay for items safely and with ease from their phone without the fear of price changes in the crypto market but also allows the vendors to not have to pay for extra resources to track and adjust prices for good while saving money on processing fees. This in turns gains more profit for the vendor and allows business to improve and potentially lower the cost of goods/services for the clients due to the increase in profits from money saved on fees.
KuboCoin will change the way many process funds for goods and services for their daily needs and allow for the vendors on the Kubo ecosystem to have a opportunity to gain a new source of revenue from a growing asset class but also evolve to better suit the benefits of block chain innovations as the masses adopt crypto.