There are five major applications that make Koinon Technology Services tick. First is its P2P transfers and remittances. Second is its B2B cross-border cloud payments. Third is its digital retail, ecommerce and omnichannel Point of Sale (POS). Fourth is its digital currencies, blockchain design, and development. Fifth is that it offers consulting to financial institutions, central banks, and governments.
But these are not all there is about this digital coin and token-based payment platform designed and built to be a leading-edge, global, cross-border payment solution company.
Founded by Matthew Mecke, a +26-year veteran of the digital payments industry and one of the world’s pioneers of global FinTech, Koinon enables a FinTech ecosystem that is inclusive of licensed financial institutions, which are fully KYC and AML-compliant. It is intentionally built and launched without an ICO and its associated energy consumption.
Apart from 125 million KOIN that were produced, no additional KOIN will ever be produced. Since no mining ever, KOIN does not consume any of the world’s daily electricity production. Blockchain went live on September 20, 2018, and has run without incident or downtime since then.
But there are other reasons many regard Koinon as the present and future of digital payments. First is that it is fast, at 0.003-0.008 second per transaction compared to BTC at 60 minutes, and ETH at 6 minutes. Second is its a very low cost: 0.0001 Koin ($0.0001) as against BTC $20.00, ETH $30.00, ADA $0.20 per transaction.
Koin is scalable at 40,000 transactions per nanosecond. It is ultra secure as Koinon’s blockchain Komodo uses dPOW (delayed Proof of Work) and secures all transactions for permanent immutable and historical block storage.
Koinon works with five partners, including Komodo Blockchain, AtomicDEX, Africa Stablecoin Initiative, Microsoft Azure and SECDEX.
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Koinon is currently working on a number of projects, which include KoinLiving (TBA), Savé Valley Conservancy, KOIN Work – Top freelancers from Africa, and Blockchain courses for Africa. It also has an understanding with Ogelle, Africa’s “YouTube” with 4 million users, to create awareness about its products in Africa and promote its content on the Ogelle platform as well as Ogelle’s network of partners.
Its founder, Matthew Mecke, spent 26 years living and building companies in emerging markets, including China, Hong Kong, Indonesia, Thailand, Singapore, and now Kenya. He co-founded and built Asia’s first 14 currency regional ecommerce processing hub (US NASDAQ listed) as well as built, operated, funded, and publicly listed four card processing and ecommerce merchant acceptance businesses over the last 20 years. He has recently acquired certifications from Harvard University – Entrepreneurship in Emerging Economies (2019); and MIT Sloan School of Business – Blockchain Technologies: Business Innovation and Application (2019).
