With cryptocurrencies continuing to rise in valuation, they are becoming more alarming as well, prompting financial experts and regulators to be worried about the rise of cryptocurrencies. There are fundamental questions, which have not yet been answered by people who advocate cryptocurrencies: What drives the valuation of cryptocurrencies? and, what would it fall back on in case of a financial turmoil? These are essential questions that require immediate attention and one cryptocurrency solution is leading the way to provide clarity.
CubeBucks is a UK based micropayment solution, which is conceptualized to address the above-mentioned issues and introduce a currency backed by assets, as a safe store of value and mechanism for transacting. It is built on a secure Hybrid Flex, Multi-Sig, and partially distributed ledger technology. CubeBucks is also the only cryptocurrency that provides assured liquidity, with a promise of a buyback at the initial market entry price.
Restoring the Concept of Money in the Digital Economy
Many people are unaware about the insufficient means to access wealth creation opportunities. These are often limited to bank savings options with low interest rates and high costs. The ability to transact over ‘the internet of things’ without traditional banking access for many people remains a challenge. Cubebucks is a asset backed cryptocurrency that restores the concept of money and establishes it in the digital ecosystem. It is a secure, borderless PSD2 compliant system that utilizes a wallet platform to transact and the capability to exchange digital currencies.
The ability to access and use funds stored as Cubebucks to pay, transfer or transact P2P, is not only beneficial for individuals, but also millions of vendors that would now be able to participate in the digital economy with reduced processing fees and new market reach.
The Vigorous and Motivated Leadership that aids Real Value Generation
Hanief Kader is the CEO and Co-founder of Cubebucks. Hanief is an entrepreneur with extensive business and consulting experience and currently manages an investment portfolio. As a South African, born into a hardworking family under the apartheid system, he was motivated to excel in all his undertakings with added vigor and dedication. He remarks ‘‘My dad instilled in me the value of money and ignited my entrepreneurial spirit, and these, perhaps have contributed to me exploring a cryptocurrency that is secure and has real value to it.”
Justifying the Asset Value in the Most Volatile Market
Hanief Kader and Jan Mac Kay, Co-founders, envisioned a trusted, secure and an asset backed cryptocurrency that would restore the concept of money and establish it in the digital ecosystem. Addressing market volatility with asset backing to ensure that Cubebucks will never lose more than its listed price value is a key differentiator for this currency, unlike Bitcoin and other currencies. This currency has the potential to attract investors who have been disillusioned by speculative trading and price manipulation in some other crypto currencies. This ‘non-Bitcoin’, block chain core currency does not rely on mining for authentication, rather on network consensus and is based on a hyper-ledger blockchain variation which further reduces transaction fees and decreases the processing and payment times to milliseconds.
The functional use of this as a currency is enhanced with the smallest value of coin being $0.40 per unit, giving it the ability to be used for micropayments, cross-border transactions, P2P transacting, and is supported by a complimentary suite of mobile software that includes a wallet, cross-chain exchange platform (wallet facilitation with other platforms) and an on-ramp platform that facilitates digitization of funds.
The ability of the buyer of this currency to influence where the funds could be allocated among four classes of assets expands on the uniqueness of the offer. The influence based on risk appetite is then collated from all buyers, and the ‘funds’ channeled into cash and equity, fixed assets, cryptocurrencies or commodities. The holder of the coins gets rewarded proportionately with new coins, which correlates to growth in these fund portfolios.
This fintech understands that their unique model will attract the attention of regulators and have opted to seek voluntarily registration with the FCA (UK), and have a strong advisory team with legal firm Bates Wells Braithwaite, and Kingston Smith that will ensure financial governance and audit oversight, together with registered fund managers.
A Grueling Journey Paving the way for a Bright Future
Initially, the founders desired to establish a company in South Africa, and generate employment in the country where 27% of youth is unemployed. However, due to unavailability of skilled workers, they finalized to found the company in UK. Cubebucks also struggled with finding marketers that understood the Fintech space, as well as the challenges faced with launching a cryptocurrency. Hanief mentions that “Funding this startup also had its challenges, as it was difficult trying to convey a concept to a potential partner without fear of them replicating your IP. This resulted in the founders self-financing this venture until the ICO is staged.” Cubebucks has successfully overpowered such obstacles and has established an unparalleled cryptocurrency platform. It aims to sustain the uniqueness with essential future progressions.
The predominant focus of Cubebucks in 2018, other than launching a successful ICO, is to deliver the basic functionality of the system in the wallet, to create and distribute coins to the market. Following the achievement of the initial milestone the company desires to work on the development of the main wallet features and the back-end systems to support the product. The company primarily aims to target widespread adoption of Cubebucks as a preferred cryptocurrency. It desires to develop a blockchain-based infrastructure with partners that could facilitate costless transaction across rails.
Source :- The 10 Fastest Growing Blockchain Solution Providers 2018
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