Konios CMO talks about the role of the validator
The world of cryptocurrency continues to ignite the imagination of the public and is fast becoming a fixture deep in the psyche of modern life. This brave new world initiated by Bitcoin just under 10 years ago has grown in leaps and bounds and is now worth hundreds of billions of dollars in market share, with tens of billions in transactions every 24 hours.
But what about users with no bank accounts? What about users who do not want to expose their personal data to intermediaries? Can they be part of these transactions?
Right in the idle of the exciting crypto-world serves our Konios platform as the means of converting fiat currency to crypto assets by bringing seller and buyer face-to-face together depending on geographical location. We hereby deliver a decentralized exchange with the special needs of our users at heart which otherwise would have no chance to be part of the evolving crypto-economy.
But we also recognize that decentralized exchanges can have points of weaknesses and we ensure that our users get the highest protection possible. Therefore we offer extra-layers of securities for our face-to-face transactions (F2F) that are confidential in nature and additionally appoint carefully vetted validators on our platform to act as facilitators that will make both the seller and buyer feel at ease with the transaction modalities.
Lack of trust is what hinders the seamless flow of business, especially when cash money is involved. To eliminate this trust issue our validators are very experienced with our exchange platform and can be chosen as an option to act as an easing agent for any trust issues. A certain fee is paid to the validators as the transaction goes through, offering them another income stream on the Konios platform.
How does this service work? For example: a seller offers BTC to change into cash. A buyer accepts the offer for the desired cash amount but is inexperienced and the seller does not yet have a high and already trusted user level on the Konios platform. Therefore the buyer decides to choose a validator nearby to aid with the procedure to go on without a hitch, offering secure and public locations for such face-to-face transactions and in effect solve the fears of both buyer and seller of being mugged.
With the aid of the immutable blockchain, each validator can be identified with absolute certainty by the transacting parties, using the Konios App on their phones, as no one can counterfeit such identities, or act in any malicious manners as these transactions go on. So the validator procedure assures maximum security for the easy access to crypto currencies with cash on the decentralized Konios exchange platform.
