KuBitx - Review

September 02, 2018

Website : http://www.kubitx.io/

ISSUES REVOLVING AROUND INCLUSION IN THE EMERGING MARKETS

Traditional banks are still struggling to reach the unbanked across Africa. In 2014, a staggering 66% of Sub-Saharan Africans did not have bank accounts. The small size of national markets, a lack of financial literacy, low-income levels, political instability and weak judicial systems have created a constrained African banking system. And banks continue to rely on traditional banking models of branch networks, expensive technology, inadequate systems and a limited talent pool. As per the latest reports issued by the World Bank in August 2017, around 2 billion people were unbanked across the world.

Cryptocurrency can bridge the gap and play a vital role in the financial inclusion of people who are still unbanked. The global adoption rate of cryptocurrency is still below 3% implying that there is still a lot more room for growth and as more tokens are created, they will need to be listed in Exchanges. So there is still a demand vs. supply gap of cryptocurrency exchanges.

The market is ripe for Cryptocurrency as witnessed this past year. Exchanges such as Binance, Bittrex, and many others had to halt registration of new users because they could not handle the ever-increasing traffic with their current infrastructure.

More education still needs to be imparted to educate more people. KuBitX is committed to doing so by having structures in place such as having Country Ambassadors in various African countries who will create awareness as well as educate, they will conduct meet up’s for those activities.

The current population of Africa as a whole stands at 1.28 Billion1which has a growth rate of 2.52% yearly. This huge market serves as the target market for the Vision and Mission of KuBitX.

The traditionally unbanked of Africa are devoid of a strong financial footprint but the optimism shown towards cryptocurrency by these people promises a better future financially.

The cryptocurrency market currently has a market capitalization of $342 billion which is expected to rise up to $1 trillion2 by the end of 2018 as per market experts.

This not only shows the overall growth potential that the cryptocurrency market has, but also the role emerging African markets would play in contributing to this growth.

We aim to begin our journey by reaching out to people in the flagship countries of South Africa, Nigeria, Zimbabwe, Kenya, Ghana, Angola and Uganda aiming to reach a market share of 1-10 million users in the first three years of operation.

Achieving such levels of mass adoption, we aim to provide access to financial services to a large section of the African population thus promoting the overall economic growth of the Continent which would thus lead to a better quality of life.

Website : http://www.kubitx.io/

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.

EFFICIENCY AND PERFORMANCE

KuBitX’s market exchange trading platform is a proven fast, high-volume and low-latency exchange engine. This exchange platform will be hosted on high availability IT infrastructure, thus, enabling fault-tolerant architecture with guaranteed 99.995 percent uptime. In order to provide a fault-tolerant architecture, a standby instance setup has been planned with active data replication. This standby instance will start as an active instance, in case the primary exchange goes down due to any reason. Active geo-replication will provide database redundancy and a low-latency platform for the end-users. Geo-targeted load-balanced environment for the trading front-end has also been planned for deployment. A high-level exchange and infrastructure diagram below indicates the planned setup of the platform. KuBitX has come up with a Trade Engine which delivers a speed of 12 Million plus transactions per second with a latency of 40-50 ns.

WHAT MAKES US DIFFERENT? Website : http://www.kubitx.io/

KuBitX has been developed not just as a trade engine but an engine for growth and development of the emerging markets assisting in financial inclusion, financial education and Blockchain adoption by the people. We strongly believe that KuBitX has the potential to reach the emerging regions and educate the citizens with little or no access to Blockchain based services and adoption and offer multiple crypto to fiat exchange and paring.