KINEKT

KINEKT
ICO date: 02.07.2018 - 31.07.2018
Industry: Fintech
Description:

KINEKT is a blockchain integrated touch terminal for points of sale. It is customer, service and technology agnostic.

How it works:

KINEK terminal can do multiple transactions at a time using a fingerprint and a pin. The platform uses AI to select customer’s default payment method or change it on the go.

The white paper states that it is customer agnostic because it provides a cheap, easy and secure transaction solution to any customer. It is service agnostic because it provides a cloud server platform to any service provider or merchant. It is technology agnostic in the sense that it works with any point of sale.

Users can log in via bank card or a QR code, but it is possible to use only a fingerprint and a pin code. The POS solution KINEKT provides is end-to-end encrypted, so the data is secure. Back-end management of transactions is held in KINEKT Cloud Platform. XKN tokens will be stored in cloud based KINEKT Wallet.

The terminal allows for cryptocurrency and fiat transactions, as well as mobile payments. Bank card, loyalty and unbanked transactions are also possible.

Innovation:

While KINEKT does bring some innovation into this industry, the whole idea seems to be rather idealistic. Its success depends on mass adoption of POS terminals, which is not a fast process. Platforms like Paymon and Zeex do a much better job at making cryptocurrency payments mundane.

Innovation score: Medium

Token value:

XKN tokens are used by merchants to pay fees to the platform and by users to pay merchants. This ensures high transactions volume once the terminals are popular enough.

Token value score: Medium

White paper:

The white paper KINEKT presents outlines problems the market faces and offers solutions to them. It explains the key concepts of the platform and the product. From the business side it describes key partnerships the company needs to have, presents competitive analysis and financial plan, and comments on marketing and development plans.

White paper score: High

Roadmap:

The roadmap of the project is rather small and poor in details. The company plans to develop the final version of MVP in August 2018 and start signing up clients in October 2018. The piloting period starts in January 2019, the first commercial launch is scheduled on June 2019. The team hopes to start global expansion in 2020.

Roadmap score: Medium

Business model:

The company seeks to establish partnerships with merchants to gain a big number of points of sale. It plans to make deals with third party companies who specialize in cloud technology to create a cost-effective network. Mass production of terminals will be outsourced as well.

Merchants pay a fee, or negotiate a revenue sharing model.

Good on paper, this model does have a significant disadvantage because it heavily depends on merchants purchasing POS solutions and people widely using crypto. It is not clear whether the company will grow as fast as they plan to.

Business model score: Medium

Team:

The company’s CEO has been co-founding local fintech projects since 2006. CTO worked as a software engineer for PayPal, having 10 years of experience in total. CCO is a data science professional.  CMO has been a VP of Sales and Marketing for American express managing 9 directors and $14 mio budget.

Mobile banking advisor is a founder of the first mobile money platform provider. US banks advisor is a representative of South African go-to consulting firm. The ICO advisor is a Customer Success Manager

at BTC Labs, he consulted more than 350 businesses. The other ICO advisor is editor in chief of Irish Tech News & Cryptocoin.News, top 1 ICObench advisor in the first quarter of 2018.

Team score: High

Competitors:

KINEKT  competes with  companies that  manufacture bank  card terminals like  Verifone, Ingenico, First  Data, Cayan, Square and iZettleetc. The company plans to partner up with some of them, but their technology over all is more inclusive than its competitors’.

However, startups like Paymon and Zeex incorporate cryptocurrency in traditional economy more seamlessly.

Competitors score: Medium

Overall thoughts:

KINEKT has a strong team, but the idea they operate on is not as effective as what other startups introduce. It can be successful, if it enters South Africa POS industry providing more inclusive services than its competitors, but putting cryptocurrency payments in the core of a project that is not targeting Asian markets is not the best strategy.

Website: kinekt.technology
Whitepaper: Whitepaper

Overall Score

Medium

3.6 / 5

Risk score

Medium

Crowdsale


Pre-ICO

Pre-ICO start date: 01.05.2018
Pre-ICO end date: 10.05.2018

ICO

ICO start date: 02.07.2018
ICO end date: 31.07.2018
Soft cap: 2,000,000 USD
Hard cap: 10,000,000 USD

TOKEN DETAILS

Ticker: XKN
Token price in USD: 0.20
Bonus Program:

50% keeping tokens for 12 months

30% 1/05/2018 – 10/05/2018

20% 2/07/2018 – 11/07/2018

10% 12/07/2018 – 22/07/2018

5% 22/07/2018 – 31/07/2018

Legal


ICO Platform: No
Registration Country: South Africa