This is a submitted sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below.
It’s an established fact that it sometimes makes good business sense to give things for free. The practice likely began soon after humans started exchanging goods by barter, and though the modern business world is exponentially more advanced than its origins in pre-industrial societies, free offers still have the power to generate significant interest in a brand – and therefore attract potential investors and customers.
Unsurprisingly, this also holds true for the cryptocurrency world, something that open source project Aidos Kuneen (ADK) was no doubt aware of as it announced its pioneering special offer for cryptocurrency exchanges this week. The offer involves a free 5% share in its forthcoming bank network to ‘any credible top 20 cryptocurrency exchange to create a more honest and transparent experience’.
What is Aidos Kuneen (ADK)?
According to publicity material, ADK is ‘an open source project that focuses on privacy, decentralization, and scalability.’ The secure platform offers transactions free of charge and is scalable. Rather than relying on blocks, ADK’s transaction system is based on a new type of distributed ledger, known as ‘directed mesh’. This has I2P (Invisible Internet Project) as an anonymous underlying network layer which protects users’ identities. ADK claims that transactions are completely invisible and untraceable thanks to its AKshuffle technology. The development team are currently working on the second step of the platform’s implementation and claim it will further improve security and transaction speeds.
The company was founded in 2017 by Ricardo Badoer. Badoer has over 16 years’ experience in the finance and offshore banking fields and eight years involvement with cryptocurrency. ADK is backed by the Aidos Foundation.
Why the Special Offer?
According to Ricardo Badoer, ADK’s main aim is to ensure legitimacy and establish a more secure and trustworthy environment for crypto users, as a lack of transparency related to exchanges and the funds they hold continues to be an issue affecting the cryptocurrency sphere. ADK is in the process of reaching out to exchanges as the project nears the launch of its EU-based bank. This follows the successful securing of similar agreements with two African banks, Sumac Bank, in Kenya and another as-yet unnamed bank in Tanzania, in which ADK has a 16% and 23% share, respectively. The addition of the EU-based bank forms part of ADK’s plan to create a solid and effective crypto-friendly banking network that also boasts remote account opening and debit card services. ADK Founder Ricardo Badoer commented:
“Since its launch in June 2017, the ADK project prides itself as one the few credible in the industry not to have conducted neither an ICO nor airdrops or pay for unnecessary hypes. Rather, it has been positioning itself to be the go-to platform for, among other things, offshore banking which projection says will produce more than 90% of crypto value in the next decade.”
New research from independent equity research provider, Satis Group, published by Bloomberg shows that over 90% of all crypto asset value will be comprised of offshore deposits by 2028, with the total crypto market cap expected to have risen to $3.6 trillion by that point, from roughly $500 billion in 2019. This rise is due to a range of factors including government regulation, devaluation of fiat currencies, and national debt.
The Road Ahead
In a field crowded with blockchain projects heralding great advances in privacy, decentralization, and scalability, ADK aims to stand out by combining innovative technology with their own crypto-friendly banking network, thereby providing greater legitimacy, security, and transparency for users of their products. If the company can bring more exchanges and banks onboard, it could potentially become a major player, particularly in the area of offshore banking.
To learn more about ADK visit the website, read the whitepaper and follow ADK on Twitter.