KIBIS is a fast, efficient, and secure method for accessing financial services at any time and from any location. The project has multiple facets and includes blockchain architecture, self-service kiosks, cryptocurrency mining, and advertising revenue streams. The KIBIS coin plays a role in decentralizing market transactions, high throughput payments, and orderbook matching execution with the KIBIS e-wallet payment network. With the coin, users can complete transactions on the KIBIS self-service kiosks.
The team members behind KIBIS have been working together for six years. They have experience in both IT infrastructure and the service-payment industry.
Payment Services for the Unbanked
One of the major benefits of KIBIS is the ability to help the 2 billion people around the world who are unbanked take advantage of payment services. It will provide opportunities for companies with innovative advertising.
KIBIS will provide convenience for everyday users who will have access to thousands of self-payment kiosks around the world.
Additionally, KIBIS takes advantage of blockchain innovations and will make use of cryptocurrency mining with low-cost power.
The KIBIS network will include thousands of kiosks in countries around the world. These include in Saudi Arabia, Oman, Bahrain, the United Kingdom, Kazakhstan, Azerbaijan, Russia, Georgia, the United Arab Emirates, Kyrgyzstan, Turkmenistan, Kuwait, and Uzbekistan.
KIBIS Kiosk Services
With the KIBIS kiosk services, users can pay for their television subscriptions, top up their mobile phones, pay for plane tickets, and pay utility bills. These kiosks also let you donate to charities and buy online gaming. There will even be cryptocurrency gift cards with a high-profile exchange and more than 2,000 additional services.
Kiosks will be launched in 5 countries: United Arab Emirates, Saudi Arabia, Bahrain, Oman, Kuwait. In the rest they will install the mining equipment in partners existing Kiosks networks.
The kiosks will have an extra screen at the top with an LED display. This screen will be available for advertisers to buy space. Since tens of thousands of people visit the kiosks, this will be a promising investment for advertisers and a revenue stream that allows KIBIS to provide its services. Additionally, KIBIS’s demographics research can help with advertising partnerships.
Partnerships for Kiosk Payments
To make the kiosks even more useful, KIBIS is working hard to create partnerships with various companies, allowing clients of those companies to make payments at the KIBIS kiosks. So far, KIBIS has already partnered with more than 500 mobile carriers across 140 countries, including AT&T, Virgin, Telecom, O2, and Vodafone.
KIBIS has also already made agreements with various charitable organizations in multiple regions. When individuals make contributions to these organizations via the kiosks, they will know that the proceeds go to the given organization.
The TV and cable companies that you can make payments for at KIBIS kiosks depend on the region, but they always include subscription services, such as Amazon Prime and Netflix. In terms of online gaming, the prepaid vouchers bought at the KIBIS kiosks can be used for Xbox Live, PlayStation Network, and Steam Wallets.
KIBIS will also be working with various utility companies to allow payment for essentials, as well as various airlines. There will also be various gift cards, including Google Play and iTunes. These gift cards will be in the form of a code on the receipt.
KIBIS mining will come in the form of liquid-cooled top-of-the-line mining equipment installed at each of the new and existing kiosks. The partner locations have low electricity costs, which will further boost the project’s revenue. The KIBIS mining will add another revenue stream, which should translate into a more affordable service for KIBIS end users.
How Does KIBIS Use the Blockchain?
The KIBIS token facilitates transactions that take place on the kiosks. KIBIS plans to enable numerous applications for the token that are not currently available with the Ethereum mainnet.
To complete those use cases, KIBIS will either create a partnership or create its own sidechain that connects to the mainchain via a relay (either trustless or trusted). By taking this approach, the KIBIS network can have reasonable scalability without sacrificing users’ ability to directly own digital assets and transfer them to the mainchain with a relay.
Because of the off-chain processes, transactions will go through the KIBIS Virtual Private Lane Service (VPLS), with each transaction requiring a SHA1 + RSA electric signature. Packets will not be cleared unless the equipment codes from each package match the original code saved on the server. This prevents theft of keys from kiosks, so they cannot be used to make fraudulent payments.
KIBIS Coin & Token Sale
The KIBIS public presale began on Dec. 10 and required whitelisting. There is a soft cap of $40 million and a hard cap of $400 million. The minimum contribution is $200. Coins can only be bought using Bitcoin, Tether, Ethereum, and Bitcoin Cash. The ICO will start on 25th Dec and run till 8th Feb 2019. Any unsold tokens will be burnt, which will increase the value of the circulating supply.
Of the total KIBIS tokens, 56 percent are reward tokens, 28 percent for the public sale, 8 percent for the founders, 4 percent for advisors, and 4 percent for the reserve.
KIBIS Coin Holder Rewards
Those who purchase KIBIS coins during the initial offering can choose to hold their coins within the KIBIS e-Wallet. Doing so will lead to earning reward coins over a 36-month period. The rewards begin after they have been in the wallet for 12 months and occur at regular intervals. At 12 months, there is a reward of 0.25 tokens per 1 KIBIS token, with identical rewards at 15, 18, 21, 24, and 27 months. Then, at 33 and 36 months, token holders receive rewards of 0.125 tokens per 1 KIBIS token. This translates into a total of 2 rewarded tokens for each KIBIS token held for the 36-month period. These rewards are valid for the ICO investors online.
KIBIS is creating a network of self-service kiosks that will provide people around the world with enhanced services, including the ability to make payments for a vast range of services. The project uses blockchain architecture, and KIBIS will make its money via advertising profits and cryptocurrency mining.