Vision Mission of ICO Kubitx

KuBitX VISION AND MISSION

The ideation process behind KuBitX was undertaken keeping in mind the broader vision to educate, enable and engage people from emerging markets in the cryptocurrency ecosystem. The technological development that has taken shape since the dawn of the Internet era has been top-down, i.e., from the developed nations towards the developing nations. This has created a gap in the overall development process thus compelling people from the emerging markets following the trail of development rather than being active contributors in shaping the process. KuBitX aims to leverage the emerging technology to move forward in the vision and mission that we have.

The broader areas upon which the vision of KuBitX has a focus upon are:

1. Education about Blockchain technology enhancing adoption by masses – KuBitX has come up with a unique initiative called Global Channel Ambassadors to enter, understand and capture local emerging markets. We aim to tackle the socioeconomic hindrances to adoption. The KuBitX Global Ambassador Initiative will reach the grassroots to drive local adoption.

2. Liquidity improvement – Liquidity is one of the most important pillars of any exchange that exists. Many exchanges today suffer from a liquidity crunch leaving users stranded with their currencies. To tackle this, we plan to involve market makers to build sustainable volume on the exchange, reducing cost of transactions and simplifying the complete process. To avoid wash trading, we have Anti Market Manipulation (AMM) tool on the platform. Market surveillance, supervision and compliance are being looked into very carefully. The admin can choose to freeze an account associated with suspicious trading.

3. Robust Security – Security is one of the most crucial pillars surrounding a cryptocurrency exchange. We at KuBitX do take the security of the whole platform very seriously. Hereby, we not only are developing our own exchange system secure but also plan to make users aware of various frauds and hacks going on in the market. Following are the security measures taken by the team:

• We are storing the password hashes and not the original passwords in our servers.

• All user data is encrypted using the AES-256 before being inserted into the database.

• KuBitX has designed a customized security architecture to ensure encryption keys are stored very well.

• Secure offline multi-signature cold wallets/vault system.

• Our system is fully GDPR compliant.

• KuBitX has developed a third-party code verification and penetration testing functionality.

4. Financial Inclusion – The emerging markets today especially in Africa and Asia suffer from a large chunk of their population being out of reach of the traditional banking system. Banks become controllers but here the person becomes the controller because P2P transactions are possible through their phones. The philosophy of the Blockchain era is excluding the third party and use P2P transactions. Africa has large amount of unbanked people hence KuBitX will educate people how to take advantage of Blockchain philosophy thus enhancing financial inclusion.

5. Economic development of the emerging markets – On a macro level, the emerging markets like Africa experience from low GDP rates, high inflation and generally poor economic growth. KuBitX with extensive strategic partnerships with the private and public sector, have designed an institutional investment plugin on the KuBitX engine to enable a higher volume of crypto trading and traditional capital trading functionalities. For instance, Zimbabwe uses a legal tender which is not native to their country thereby creating a negative impact on all aspects of their economy. KuBitX will be creating opportunities for a digital economy thereby allowing each nation to run its own economy and giving it an opportunity to play in the global market.

Our vision is one of collective growth for all market participants, both our customers and the KuBitX ecosystem, thereby contributing our share to the growth of the market itself.

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EXCHANGE ARCHITECTURE – KuBitX

The KuBitX Exchange is designed to operate at low latency, high throughput, and maximum uptime. By incorporating geo-replication in its architecture, the exchange is built to be fault tolerant, ensuring that the platform delivers a seamless and uninterrupted trading experience to its users. Below is a high-level abstraction of the exchange architecture showing how the different systems within the exchange are connected logically.

ADVANCED APIS AND FINANCIAL INTEGRATION

KuBitX’s advanced APIs promise to give the users a hassle-free trading experience. It will allow them to get connected to FIX, Rest, Binary, WebSocket, and third-party custom APIs. This architectural design will also enable integration with banking, payment gateways, and settlement.