Introduction
Over past two years, volume of investments in Fintech start-ups has significantly grown. Annual volume of investments in Fintech start- ups approximate USD50 billion. We are living in the convergence of digital transformation. The impact of this transformation is clearly seen in how we share information, communication, entertainment and financial technology related activities. There are attempts to digitalize many aspects of our lives, especially in the world of finance and banking. Most notably, the advent of Blockchain technology has enabled us to digitalize money via cryptocurrencies such as Ethereum. There are many attempts to apply Blockchain technology to revolutionize other areas of finance. However, most researchers focus Challenges of Crypto Currencies on transforming only one financial service or product (e.g. remittances or lending). This emerging trend is hampered by legacy systems which are related to regulatory issues and conventional financial set-up. However, the array of disadvantages that new entrants are facing is short lived by willingness of financial institution to embrace emerging FinTech’s and KitToken® offering the KitPay® System.
How does KitPay® Work?
KitPay® works as centralized server within a decentralized blockchain infrastructure in a connected network. KitPay® will allow users to own a wallet which stores and transfer KitToken® in daily conventional economic activities. KitToken® holders benefit from convenient utilization and appreciation of KitToken® value. KitPay® will be officially launched on 1st of September 2018 after KitToken® ICO Sale ended. This will benefit all KIT holder for merchant payment, it also can be used as wallet for all ERC20 type coin and for crypto P2P transfer.
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