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KINEKT (XKN) ICO Review – ICO Token News

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Overview

Fortunately,  with  the  widespread  proliferation  and global adoption  of  the  internet  and related cloud  based service (SAAS,  PAAS,  IAAS),  including  improvements  in  the  reliability  and  efficiency  of  various  customer  identifier  technologies  such  as  Fingerprint  Readers,  it  has  become  possible  to  re-imagine  how transactions  at  physical  POS  could  and  should  work. At  the  same  time  the  global  banking  industry  have  started  working  with  the  Fintech  startup  market  by  sharing  networks and  customer  data.  Additionally  they  have  also  developed  various  P2P  instant  payment solutions  on  the  back-end intended  for  “person  to  person”  (handset  to  handset)  type  transactions,  which  can  now  be  used  by the  KINEKT  Terminal  to  help  banks  provide  merchants  with  the  world’s  first  instant  payment  transaction terminal.

So  in  consideration  of  the  entire  current  market  situation  and  technologies  available,  the  KINEKT  Terminal  was  designed  to  help  solve every  aspect  related  to  the  shortcomings  of  bank  card  terminals,  whilst  at  the  same  time  offering  significant  additional  value.

More specifically the KINEKT Terminal solution is

  1. CUSTOMER AGNOSTIC because it provides a low cost, simple, secure and foolproof way for ANY conceivable customer (including the unbanked) to transact at physical points of sale using just a fingerprint + secret pin.
  2. SERVICE AGNOSTIC because it provides a method for ANY3rdparty service provider to plug into the KINEKT Platform for their customer base to instantly transact at participating merchant points of sale.
  3. TECNOLOGY AGNOSTIC because it works with ANY point of sale, and does not require customers to have specific handsets or bank cards to process transactions –only a fingerprint and secret PIN is required.

The  solution  includes Artificial  Intelligence to  help  customers  automatically  select  default  cards  for  every  point  of  sale,  including  the  option  to  receive  personalized  discount  offers.

Mission Statement

The KINEKT  mission  is  to  provide  the  global  market  witha  new  generation  low  cost,  simple  and  secure  Transaction  Terminal, capable  of  enabling  instant  transactions  forthe  ENTIREglobal  physical  points  of  sale  market  through  the  use  of  just  ONE terminal instead  of  many.

Product Description

KINEKT  is  a  new  generation  BLOCKCHAIN  INTEGRATED  touch  terminal  for  physical  points  of  sale.  The  terminal  is  designed  to  be  low  cost  (US$50  per  unit)  and  is  entirely  customer,  service  and  POS  technology  AGNOSTIC. Current  terminals  can  to  do  just  one  type  of  transaction  at  a  time,  for  example  either  loyalty  or  payment.  The  KINEKT  Terminal  can  process  any  one  or  MULTIPLE  instant  transactions  simultaneously  using  just  a  FINGERPRINT  +  PIN. The  KINEKT  Terminal  also  uses ARTIFICIAL  INTELLIGENCE  to  automatically  help  select  a  customer’s  default  (preferred)  card  service/s,  including  the  option  to  receive  personalized  discounted  product  offers etc.

KINEKT Terminal 

The  KINEKT Terminal  represents  the  “front-end” device  required by  merchants  to  accept  transactions  from  customers at  physical  points  of  sale.  The  terminal  is  designed  and  configured  to  read  customer  fingerprints,  display  the  customer  virtual  cards on  the  touch  screen,  accept  payment  amounts  due,  entry  of  a  customer  secret  PIN  and  transmission  of  the  related  transaction  data  to  the  KINEKT  Platform(cloud  based)  for  further  processing.

The KINEKT Platform         

The  KINEKT  Platform  represents  the  “back-end”  cloud  server/sof  the  terminal  solution responsible  for  hosting,  managing  and  processing  transaction related  data on  behalf  of  merchants,  service  providers  and  end-using  customers.  The  platform  is  in  direct  real-time  connection  with  KINEKT Terminals by  GSM  radio over  the  internet,  and  3rdparty  service  providers by  API’s  to  process  and  settle  transactions  directly  with  participating  merchants.

The KINEKT Wallet

A KINEKT   Wallet will be made available for use by XKN token owners.  The  wallet  will be  a cloud  based  host  for  XKN  tokens  and  participating  3rdparty  service providers,  and  be  available  on IOS  /  Android  Smart Devices  and  Internet  Website.  The  wallet  will  be  fully  functional  allowing  token  owners  to  perform  the  following  functions:

  1. To register  for  the  first  time,  close  accounts  or  change  PIN’s  &
  2. To add  or  remove  3rdparty  services  available  for  use  at  KINEKT
  3. To trade tokens directly amongst one another, or on token exchanges.

Tokenomics

Our  token  is  called  the  KINEKT  Token(XKN)  and  a  maximum  of  250  Million  tokens will  be  created.  Out  of  these  tokens up  to  75%  will  be  made  available  to  the  public  during  the  initial  coin  offering  (fundraising  period),  with  the  rest  (25%)  used  by  the  company  to  help  pay  for  product  development  over  time  as  may  be  required. The  KINEKT  ICO Token  is  based  on  the  ERC20  “smart  contract”  enabled  standard  running  on  the  Ethereum  Network.

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Team

  • Angus Pohl
    Angus Pohl
    Angus Pohl
    CEO
  • Sumved Shami
    Sumved Shami
    Sumved Shami
    CTO
  • Mike Nemke
    Mike Nemke
    Mike Nemke
    CMO
  • Hannes V Rensburg
    Hannes V Rensburg
    Hannes V Rensburg
    (M-Payment Advisor)
  • Perry Leardi
    Perry Leardi
    Perry Leardi
    (US Bank Advisor)

Milestones

  • 1
    01-01-2017
    Complete Provisional Designs
  • 2
    16-05-2017File
    Provisional Patent Application
  • 3
    01-09-2017
    Begin ICO Planning
  • 4
    15-11-2017
    Company Registration
  • 5
    01-01-2018
    Begin ICO Development
  • 6
    31-03-2018
    Finalise Core Startup Team
  • 7
    01-05-2018
    Start ICO Pre-sale
  • 8
    16-05-2018
    File International Patent Application
  • 9
    31-05-2018
    Complete ICO Pre-Sale
  • 10
    01-06-2018
    Start MVP Development
  • 11
    31-08-2018
    Complete MVP Development
  • 12
    03-09-2018
    Start Particpant Company Sign-ups
  • 13
    01-10-2018
    Start ICO Public Sale
  • 14
    31-10-2018
    Complete ICO Public Sale
  • 15
    01-01-2019
    Begin Piloting Period
  • 16
    01/07/2019
    1st Commercial Launch
  • 17
    01/01/2020
    Global Market Expansion

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