Kinesis is a crypto firm that was forked from the stellar network it backs up every token with physical deposits of Gold and Silver. Kinesis believes this helps in reducing the massive price volatility that has caused severe problems both for the company and for the investors.
This can make them much more suited to everyday use. The tokens can be used through a debit card that can then be used to trade for fiats whenever needed.
Kinesis has recently revealed that through various partnerships it now enables its users to buy tickets for sports event using this token. The firm has partnered with Jakarta Futures Exchange (JFX) as well as Allocated Bullion Exchange (ABX).
The firm is currently using ABX’s platform and has joined hands with JFX in order to develop a Blockchain network that is both based and regulated in Indonesia. This way there will not be any problems with accessibility while it will also make the transactions more secure and fast.
JFX believes that this partnership will allow them to utilize the benefits of Blockchain while creating a more transparent network to revolutionize the existing system of companies. Following this partnership, the firm also joined hands with TicketSocket: a platform that provides sports team with booking software. This collaboration would allow people to buy tickets to sports events through the crypto.
Kinesis released a Demo version of their minimum viable products for its eWallet. Kinesis’ platform can support around 3000 transactions per second, and the number may improve in future developments. Kinesis Velocity Token is currently open for purchase, and the sale will continue till mid-March 2019.