KABN, Your Digital Banking Alternative, use Visa with crypto
KABN, Your Digital Banking Alternative, use Visa with crypto

By ridertiger | CryptoRider | 6 May 2019


I like when platforms are a one stop shop and they offer a complementary solution to all your similar problems in one place. Don't you want to be free from KYC requirements when buying cryptocurrencies? Do you want to be able to spend your crypto using anywhere Visa is accepted? Then look no further, you can do your KYC with KABN and spend your money online or offline at traditional brick and mortar stores with their Visa approved Pegasus Flyte card. In addition, the platform has a banking wallet and you can buy and sell cryptocurrencies as they have collaborations with several exchanges and you can convert various fiat currencies to each other. Here is an image of their Visa card and their mobile banking wallet:

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Cutting Edge Technology and Patent Pending

I especially enjoy that the platform has cutting edge technology and they applied for a patent, which is pending at the time of writing this article. Not a lot of ICOs have that, and it is a good indication that the team has the capability to get this done. Their agreement and collaboration with the bounty0x bring many people to their platform and this collaboration gets them working and they are busy with all the KYC they can handle. The good thing about this is that the platform and the team get the experience they need, and they should be able to handle a large customer base once they have paying-customers with sensitive privacy requirements.

What I most like about their technology is that the platform will keep your private information off the blockchain, preventing your KYC information off the distributed ledger, while keeping Pass or Fail information on the blockchain. Their technology and platform are fully GDPR (EU General Data Protection Regulation) compliant, and this increases my confidence in their platform as well. GDPR is one of the most significant changes in data privacy, and you can read more about it at https://eugdpr.org/

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Mobile Banking Wallet

The promise of a working wallet that is connected to exchanges is excellent, because many ICOs tend to produce a wallet that is an exchange by itself, and they have no way of creating volume. With KABN wallet, the team already made arrangements with many different exchanges and these collaborations will provide all the volume the customers need. Providing sufficient volume means that you, as the customer will be able to buy and sell your cryptocurrencies or convert any FIAT into any other FIAT. For example, if you want to sell your USD and buy Euro, you should be able to do that. More than that, you can sell or buy any cryptocurrency such as bitcoin, ethereum or XLM using the KABN mobile banking wallet.

 

Here is a summary of their Global ID verification system:

  • ID verification and validation up to 180 countries
  • KYC using a 2+2 match with refreshing
  • AML continuous monitoring
  • Biometrically Enhanced
  • Customer Controlled
  • GDPR Compliant
  • Options – Accreditation / Source of Wealth

 

Loyalty & Rewards

This has been attempted by many ICOs and various travel platforms, but combining loyalty programs is hard. The difference of KABN platform is that they are not starting off with a loyalty program, but the team is trying to get adoption by masses first. Getting people to use the platform’s KYC and mobile banking wallet helps the platform attract customers. When the masses are turned into customers, then the loyalty and reward programs can work easily. This is how tech giants make their money. They first attract crowds, masses into their platforms, convert them into customers using free products, then have them use their ecosystem. Once a large number of people use an ecosystem, then it is easier to market more products to them.

 

Good luck to KABN and their customers, I know I passed their KYC :)



Bounty0x Username: @ridertiger

 

Website: https://www.kabntoken.com/

Twitter: https://twitter.com/KABNNETWORK

 

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ridertiger
ridertiger

Article writer, video maker, community manager, bounty manager, statistician, project evaluator


CryptoRider
CryptoRider

I evaluate ICOs, STOs, IEOs usually on a positive light. My day job is the evaluation of scientific projects for EU.

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