Kuverit – Changing the Narrative of P2P Trading Platforms
For the most part of Bitcoin’s existence, centralised exchanges served as the primary gateway into the cryptocurrency world. Some consider it to be a redundant approach if a decentralised entity is being traded under a centralised environment.
Of late, Peer-to-Peer trading has been gradually gaining admittance. Many platforms that are operating as centralised exchanges have gradually started to move in to decentralised P2P trading as a backup for the existing centralised ones. It might take a while for the dust to settle, but the revolution is coming!
According to Nasdaq, P2P platforms are among the fastest growing segment in the financial services space, with the United States and Europe taking the lead. A finding by Transparency Market Research suggeststhat “the opportunity in the global peer-to-peer market will be worth $897.85 billion by the year 2024, from $26.16 billion in 2015. The market is anticipated to rise at a whopping CAGR (Compound Annual Growth Rate) of 48.2% between 2016 and 2024.”
Competing in this market segmentisKuverit; a next generation P2P platform footed in the Republic of Ireland. At the helm of the company is its CEO and Co-founder, Daniel Drury. Daniel is joined by a number of other industry specialists who all have a vast amount of experience working in the blockchain/financial sectors.
The Kuverit P2P Guarantee Platform is a blockchain Multi-Trader Marketplace designed to protect its users from the potential of a financial loss in any two-way transaction. The platform’s technology and inner system providesmultiple ways for users to protect themselves from financial loss.
To fast track the launch of the platform in compliance with its roadmap, Kuverit will be launching a fundraising session on theProbit exchange on the 10th of October 2019, which aims to raise a minimum of 5,000,000 USD. This will facilitate the sale of its native utility token, KUV. Participants have the opportunity to receive up to 55% in bonuses.
KUV, an ERC20 standard token, is the underlying economy on which the Kuverit platform will be powered. The KUV token, which will be the only form of transaction within the Kuverit Marketplace, will allow Guarantors (or Stakers) to stake their tokens on Guarantees and participate in Guarantee Pools in exchange for fees. This represents just one of the benefits exclusively reserved for token holders.
According to itsWhitepaper, Kuverit has put in place numerous strategies to combat the challenges that comes with transacting within any P2P infrastructure.
The Kuverit “Guarantee Trading Marketplace” provides a viable solution to transaction-based financial loss with all the benefits of the P2P community. It deploys an efficient state-of-the-art security protocol, which ensures that businesses and individuals utilising the platform will feel secure whilst doing business. The infographic shown below is a perfect illustrator of how the Kuverit platform works.
The maximum security of customer funds is a top priority to Kuverit.
To this end it aims to create a viable and secure environment that will protect users against financial loss as a result of fraudulent activities. This is achieved through its “Guarantee Trading” platform. This feature is available to both individuals and corporate entities that need a Guarantee on any two-way transaction.
While Peer-to-Peer (P2P) platforms continue to face the risk of default and fraudulent practices etc. the growth prospects of this segment remain strong. Thus, a well-regulated, transparent and guarantee peer-to-peer platform such as Kuverit offers a great opportunity and a safe haven for businesses and individuals alike.
Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of EWN or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.