KINEKT

- Mei 04, 2018

The World's 1st Blockchain Integrated Agnostic Transaction Terminal

EXECUTIVE SUMMARY

Bank card terminals were originally designed for the exclusive use of the banking industry and their related partners, products and services. This has resulted in functional limitations and cost factors that has (over time) severely fractured the market with more than one terminal required for purposes such as payment,loyalty programs and cryptocurrencies all competing for the same limited space available at the point of sale.

Problem

The original design and development of bank card terminals were based ontechnologies of the time(1979), including the core intention to exclusively process digital card payments on behalf of baking industry participants. Ever since bank card terminals slowly evolvedover time, becoming more established without considering that a new generation of terminals using technologies related to the internet andblockchain would become possible.

To date the originaldesign and functionality have basically remained the same except forsome changes on the front-end, where customer interaction with the terminals have moved from a swipe, to a dip and recently a contactless tap.Additionally, some improvements were also made on the security side through the introduction of Bank Card Chips, Host Card Emulation(used bymobile payments) and Card Tokenization etc.

Solution

KINEKT solves the above and other current market related problemsby way of a low cost Blockchain Integrated Terminalthat is entirely Customer, Service & Technology Agnostic. KINEKT is a patent/spending solution comprisedof the following basic functional units; 1) the KINEKTTerminal, and 2) theKINEKT CloudPlatform/s which are connected to one another using a combination of centralized and blockchainnetworks.

Mission Statement

The KINEKT mission is to provide the global market witha new generation low cost, simple and secure Transaction AgnosticBlockchain Integrated Terminal,capable of converging currently fractured pointsof sale into a one stop solution.

TOKENOMICS

Our token is called the KINEKT Token (XKN) and a maximum of 1 Billion tokens will be created. Out of these tokens up to 50% will be made available to the public during the initial coin offering, with the rest used for extra bonuses to buyers or reserved by the company. XKN Tokens are based on the ERC20 standard within the Ethereum network.

The official fundraiser will last for a period of 40 days (excluding private sales), starting with a 10-day pre-sale and followed by a 30-day public-sale. Throughout the fundraiser period 5000 XKN Tokens will be equal to 1,000 US$ (20 cents per token). Note that an additional extra 50% bonus will go to buyers that keep their tokens for 12 months.

Cryptocurrency Transactions

With the significant global growth in popularity of cryptocurrencies, there has been an urgent need for methods of using these currencies as a means of payment within traditional markets.

Mobile Wallet Transactions

Ever since the development and roll-out of NFC there has global efforts by the banking industry, and wallet providers to have merchants upgrade to the latest PCI / EMV compliant terminals in order to give their customers the option to perform contactless payment & related transactions.

Bank Card Transactions

Banks and card companies are increasingly put under pressure by merchants to offer lower card transaction processing fees for physical point of sale terminals. Unfortunately the design of the bank card payment terminal networks make the reduction of fees difficult due to too many intermediaries involved in processing "pull payment" type transactions between card issuing banks and acquiring banks.

Loyalty Transactions

One of the biggest pain points experienced by both merchants and end using customers are the use of separate terminals to process loyalty transactions & bank card payments. This increases cost and forces additional transaction steps onto participants, whilst adding to a fragmented market etc. This business model also limits the opportunities for merchants and multiple other potential 3rd party service providers to generate extra revenue streams at physical points of sale.

Unbanked Transactions

There is an estimated 2 billion unbanked and underbanked people in the world not able to benefit from bank card related payment services to purchase goods and services at physical points of sale. This is mostly due to the remote locations of this market, the cost of banking services, and the lack of infrastructure to use card related services such as ATM's and merchant bank card terminals.

Charity Transactions

The charity donation market is a multi-billion industry rife with inefficiencies, particularly at the physical point of sale. This market segment typically uses physical tins located at merchant points of sale usually benefitting just one charity at the expense of others, whilst the cost of collecting physical small change is up to 90% of the funds raised.