Kinetic Revolution is a blockchain-fueled payment system. The team envisions an automated platform in which consumers can send and receive funds online as well as make withdrawals from global ATM systems. By linking the platform hardware with the blockchain to fuel e-commerce transactions and ATM withdrawals. Kinetic is targeting ATMs that support fiat-to-cryptocurrency as well as crypto-to-fiat conversions to thrust their offering into the mainstream. The goal is to give users control of their funds, including both fiat and cryptocurrencies, from a single platform.
Kinetic is launched via a mobile app on a smartphone. Users must first create their identity on the platform decentralized application, which involves satisfying know-your-customer (KYC) requirements that can be applied to various use cases. The ID enables users to sign-onto the platform and use the features across managing their funds, e-commerce transactions and making withdrawals from global ATMs to which they have access 24/7. The Kinetic ecosystem is fueled by the Kineticex (KRC) token.
The Kineticex Minimal Viable Product (MVP) is designed as a mobile app. Currently, it’s available on the website where users can establish an account, manage security levels and keep track of transactions. There is a referral program in place throughout the ICO in which users can earn KRC tokens in exchange for referring others to the platform. To qualify, the new users must meet the KYC standards and maintain an account balance of at least $50.
The company points to several use cases for its smart contract-fueled token, including gaming, real estate and cryptocurrency mining, for instance. For gaming, Kinetic says it solves an issue in the industry of users having to upload funds onto each and every gaming platform they use. The verified ID feature prevents fraudulent payments from occurring, and bulk traders can participate for zero commission. According to the white paper, a person’s identity is protected similarly to the approach taken by tech media giants LinkedIn, Facebook and Google. Kineticex also attaches a 1% transaction fee.
Kineticex boasts a platform that is conducive to cryptocurrency-fueled real estate transactions because of its simplified features compared to “the complicated nature of several cryptocurrency platforms that have discouraged a number of people including real estate developers from adopting cryptocurrency,” according to the white paper.
The company is behind a cryptocurrency mining pool that can be achieved via various operating system interfaces. Rather than investing in the power-intensive cryptocurrency mining equipment, users can generate new KRC tokens by launching the mobile app, which performs the mining functions via a mining system built into the app. The newly mined KRC coins will then be added to their wallet. The company is looking to provide users with a way to generate a steady stream of income. It’s also targeting non-banked users who can rely on the platform to transact online and offline via the KRC token that can also be converted into fiat currency.
The project is built on the Ethereum blockchain. Kinetic Revolution is also awaiting an anticipated listing on CoinMarketCap.
Kineticex is targeting consumers and e-commerce companies alike.