KABN TOKEN – Bridging Security and making Cryptocurrencies Spendable
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It is time for the 10-year sojourn of cryptographic currencies to make necessary inroads to fiat scenarios. The underlying interoperability coming from the stable of the KABN Token repositions the stringent rules on the application of crypto coins in fiat environments. While facilitating the confirmation of identities in real-time, it also forges a way for crypto-to-fiat interoperability.
The Pre-KABN Days
Early evangelists of cryptographic currencies suffered backlashes and restrictions in their quest to integrate the new payment system in reality. It was barely three (3) years when fiat businesses began to show interest in crypto coins. However, the wave of adoption is still low because favorable payment structures are yet to hit the space.
On the other hand, strict regulations await startups, as they have to fulfill every obligation in the US banking sector. These regulations span across Know Your Customer (KYC), Anti-Money Laundering (AML), and General Data Protection Regulation (GDPR).
These are nice approaches but the positive effects could not become known because of some reasons. Token issuers often bypass the dictates of the US Securities and Exchange Commission (SEC). This malaise triggered the SEC’s clampdown on the token distribution system, which often forces issuers to return the raised funds.
Similarly, there are tendencies that available data are not complete, which reduces the prospects of token issuance. These challenges triggered the invention of KABN; a platform aims at repositioning the token issuance sector and entrenching crypto-to-fiat interoperability.
A Paradigm Shift in Crypto Adoptions
KABN is not leaving anything to chance as it makes concerted efforts to increase the adoption of cryptographic currencies. To this end, it demarcates the anticipated users into two – Millennial and Gen-X. The former is the demographic of users who began to take interest in crypto coins after the success of Bitcoin (BTC). Gen-X is the pre-Bitcoin generation – the demographic that cast aspersions on the coin’s features.
Both generations, realizing the huge potentials, are keen on the extension of crypto services. This new surge of interest had a hand in the launch of 202 Financial Technology (FinTech) Security Token Offerings (STOs).
On its part, KABN is making use of the web-based banking service (NEO Bank) to drive more adoptions. In addition, crypto users can now spend digital assets at designated centers. These and identity validation are the benefits we tend to drive when using the platform.
The Global Identification Service
Most startups that work towards meeting up with the GDPR guideline often take the wrong step. After Security Token Offerings (STOs), these new enterprises proceed to distribute tokens to investors. At the same time, they collate and store clients’ personal data. The storage process is fragmented, because the concentration on PCs and related devices may be prone to hacks or loss of vital information because of malware/virus attack.
Thus, KABN changes the trend with the integration of a global identification (KABN ID), which is a medium of collecting users’ data and storing the same in an encrypted database. The data, in this case, will be free of malicious access because it works on the premise of Personally-Identifying Information (PII) – users will confirm their identity before getting access to the data. This identity (ID) verification and validation is GDPR-compliant and is available in over 180 countries.
This friction-free global identification (Global ID) system uses the identity validation and verification compliance solution (Always On) to verify the identity of users.
The Crypto-Linked Card
It is quite hard to spend crypto coins on physical goods and services. This has been the major downside to digital assets. It also reduces its stake at getting more adoptions. The current means of accessing crypto funds is loading the assets to debit cards using third-party platforms, such as Cryptopay and BitPay.
KABN deserves a round of applause as it takes a major step that will reposition how users spend digital assets. It went into collaboration with Transact Payments, which is a leading member at VISA. The alliance led to the launch of the Pegasus Flyte Visa Card. There is also an underlying mobile banking wallet, which serves as a payment gateway for the card.
Pegasus Flyte Visa Card is a crypto-linked debit card that allows you to convert the digital assets in your crypto wallet to fiat currencies. In addition, you can use it at every VISA terminal, such as ATMs. You can load the card with funds and make online purchases. Truly, KABN is out to make transactions easier for crypto users. The launch of this crypto-linked card and the mobile wallet is an indication of better things to come in the crypto-sphere.
KABN HASH – A Neo-Banking-Inspired Loyalty Program
It is on this premise that KABN brings forth its Neo-Bank approach. The approach entails returning some dividends to users in forms of reduced cost of transactions and loyalty programs. In this case, KABN HASH, which is the platform’s reward mechanism, redistributes rewards to end-users. This is how it works:
Users will shop on fiat stores and online merchandise websites. When they pay with their Pegasus Flyte Visa Card, KABN earns some commissions. At the end of it all, the platform calculates the amount gained from each user’s transactions and rewards prospective users with 5% of the accrued dividends.
Apart from the cashback rewards, KABN HASH also gathers users’ behavioral and maps the same into its encrypted database.
Token Sales Information
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This is one of the few blue moons when amazing crypto projects hit the space. KABN’s blockchain – based identity verification and validation entrench trust because users won’t have doubts about the security of their data after a Security Token Offering (STO). Above all, KABN’s suite of financial services, such as the crypto-linked card and loyalty programs are steps that will drive massive adoption of cryptocurrencies in the coming months.