KUBITX — Hive

KuBitX is a new exchange project which is aimed at offering services which are unavailable in most exchanges today. The project was conceived and started in the last quarter of 2017 with a team of all-round professionals from some of the world’s leading companies like Dell, Huawei Technologies, PricewaterhouseCoopers (PwC), Google, BP Oil, AWS, MTN, etcetera who have proven track records and are notable experts in their respective fields.

It is a cryptocurrency exchange aiming to satisfy banking needs in most emerging markets through strategic partnerships with significant banks seeking to do among other things: provide a hybrid Crypto Exchange to serve the emerging markets starting with Africa whose combined population of 1.2 billion – 60% of which are potential users of blockchain and cryptocurrencies, makes her a key target for cryptocurrency adoption.

FEATURES

Kubitx is led by a professional team that has worked in Fortune 500 companies, as well as some of the biggest consulting firms in the world
All trading fees are to be paid using its token
Its trading fees are expected to be up to eight times cheaper than those being used by other exchanges
You can convert Kubitx token into cryptocurrencies or fiat money
To provide a guarantee for all the client funds, 70% of the assets generated through this platform are to be stored in a cold storage wallet
Any new coin listing process being introduced is to be assessed via the platform in a period of less than one day.

PROBLEM

The founders of KuBitX see the disadvantages of modern platforms for trading cryptocurrencies, the solutions of which can become significant competitive advantages:

The crypto trading ecosystem is immature. For the convenience of understanding this problem, you can pay attention to any of the traditional currency trading markets. For Example, Forex. It has all the necessary technological and legal tools for both small and large players. The crypto world so far has only a small fraction of it.
Fiat currencies are very unwieldy. To withdraw the crypto currency in Fiat or make a reverse exchange, it takes time. Often these are the most valuable seconds if you need to make an exchange urgently. Sometimes it forces to make an exchange at an unprofitable price.
Customer support is poor on almost all platforms for crypto trading. The reason lies in the human factor. It’s just not the focus. Customers have to endure delays with responses and adjust.
Hacker attack. On crypto exchanges, cases of loss of funds due to hacker attacks are frequent. In the past, customer losses were billions of dollars. Now the situation has improved, but there is a large share of the risk of loss of funds. This hinders the motivation of traders to bring big money to the exchange.
The ignorance of users. A game of traders lose money, many people lose the motivation to use the exchanges. There is no qualitative education system at the stock exchanges.

SOLUTION

the speed of 12+ million transactions per second. This is almost 10 times higher than any existing exchange;
withdrawal and Deposit of funds in Fiat. This is one of the main accents of KuBitX. Due to the existing extensive network of contacts in Vietnam world KuBitX intends to provide all clients with Fiat ground on time;
high quality customer support in five languages. This is also a Central feature KuBitX. It is planned to focus on an individual approach to each client;
friendly interface. It will be available even to the child. Developed as a web client and mobile applications for Android and iOS;
educational platform. It can be obtained as the basics of using crypto currencies, and a strong trader’s education to work in the future as a professional trader or broker.

KuBitX Benefits

Secure
Its developers have carried out extensive benchmarking with the platforms already in use today. This has made it possible for them to ensure that they are a few steps ahead of their competitors. In addition, their security team has been sourced from some of the leading security organizations.

Scalability
The Kubitx platform is very scalable. This means that it is always ready to accept new features, and additions meant to improve the overall user experience.

Ecosystem
The people behind this platform are strong believers in the power held by P2P payment ecosystems. As such, they believe that it is only a matter of time before the traditional finance systems get replaced by more robust, and efficient payment systems.

Blockchain
The Kubitx token will initially be based on ETH blockchain. However, there are plans to launch an independent chain in the near future.

ROADMAP

02.10.2017
Project Initiation:Project feasibility study;Benchmarking.

02.01.2018
Project Engagement, Legal process for incorporation in Malta

01.06.2018
Community building. Token creation

02.07.2018
Project Execution:Platform design undefined development

02.07.2018
Launch KuBitX Channels Ambassadors (Flagship countries);Complete Prototype

02.07.2018
Operations Team Set-up

09.09.2018
Exchange Go-Live

TEAM

Eric Ohene-Agyekum Annan - Co-Founder & CEO
Amadeu Alexandre - Co-Founder, Lead IT Operations
Domenic Thomas - CEO, FSP Division
Peihan You - Chief Strategy Officer
Victor Akoma-Philips - Co-Founder, Chief Operating Officer
Juliana Mwangi - Chief Financial Officer
Victor Olorunfemi - Lead Product and Trade Development, Trade Support
Subramanian Venkatesan - Lead, DApp, Smart Contract Developer
Binod Nirvan - Chief Token Strategist and Smart Contract Pro
Obi Ezenwugo - Lead, Community Management
Charles Meruwoma - Lead Infrastructure and Capacity management

ADVISORS

Richard Gardner - Trade and Exchange Advisor. CEO Modulus Global
Jonathan De Giovanni - Legal Advisor, Malta
Leo Fiadzinu - Blockchain & Trade Advisor
Raj Ravindran - Capital Markets and Financial Advisor
Grant Gulovsen - Legal Advisor, Americas
Mohammed Thoufiq - Advisor, Business Development

CONCLUSION

KuBitX is one of the brightest projects at the moment. First, the team includes the Tops of Fortune 500 companies and the big four consulting firms. Secondly, the problems to be solved are really clear and relevant. Third, the threshold of investment entry of 25 esters on pre-sale indicates confidence. All this and much more was reflected in the high ratings of the project on the ICO project listings. He deserves it for now.