For Komodo Platform, 2018 is the year of mass adoption. Over the last 8 months, Komodo has already had two major developments in this regard.
First, Komodo was listed on Bitpanda, a European crypto exchange that provides a direct fiat gateway to KMD. Users can buy KMD with fiat using SEPA or a Mastercard. Bitpanda also allows users to buy KMD with cash at over 400 post office locations throughout Austria.
Second, Komodo established a partnership with Netcoins, providing several major benefits. The partnership allows users to purchase KMD with fiat at over 21,000 physical locations across 3 continents. It also gives users to option to sell their KMD tokens for fiat currency with Netcoins’ over-the-counter trading desks.
Now, Komodo is taking two more huge strides towards the mass adoption of KMD!
Buy KMD With Fiat On Cred App
Komodo is one of the first coins to be integrated into Cred, a micro-investing platform specifically focused on cryptocurrency. Cred is launching in the US states of California, Missouri, Massachusetts, and Montana, with more states being introduced in the coming months. The app is available for download now via the Apple app store and Google Play store.
"I'm thrilled to finally offer a non-intimidating space for consumers to get involved in cryptocurrency." said Brendon McQueen, Founder & CEO of Cred. "There's an obvious gap in the market: people aren't investing in cryptocurrency because they think it's too complicated and complex. Cred creates a tangible space for people to take advantage of cryptocurrency at any level of experience without having to be an expert."
The Komodo Platform team is equally delighted about KMD being one of the first coins on the Cred app.
"We are super excited to be partnering with Cred as they offer a unique micro-savings and micro-investment platform that will help onboard a whole new segment of cryptocurrency users," said Steve Lee, Chief Marketing Officer at Komodo.
Steve continued: "Komodo has long been committed to the global adoption of blockchain technologies and enabling real world usage. Through our partnership, Komodo and Cred will be able to lower the barrier-to-entry into cryptocurrency for the mass market and offer a fiat gateway for KMD in the US."
With yet another fiat gateway, KMD is priming itself for mass adoption.
Spend KMD With A Peer2krd Prepaid Debit Card
In addition to a new way to purchase KMD using fiat, there is also a new way to spend KMD coins as if it were fiat.
A Komodo ecosystem related business, Peer2Group, has set up a service called Peer2krd that loads prepaid debit cards with fiat currency in exchange for KMD tokens. Peer2krd was founded by Kimmel, a long-time member of the Komodo community and notary node operator.
The process works as follow. First, users sign up for a free prepaid Mastercard on the Peer2krd website. Once the Mastercard arrives in the mail, users activate the card on the card issuer's website.
Then, users simply go back to the Peer2krd website and choose how much money they would like to top up the card with. Users may choose either BTC or KMD. After the crypto is sent, Peer2krd loads the Mastercard with the agreed amount of fiat (in Euros only).
Currently, Peer2krd services are only available to legal residents of the EU. The first 100 prepaid cards have been sent out and users are beginning to receive them.
While the project is still in a test phase, Peer2krd founder Kimmel noted that they “sold out the cards in about 4 days and have quite a big waiting list.” If the test phase is successful, more cards will be issued in September.
Komodo Continues To Work Towards Mass Adoption
Komodo Platform is committed to advancing the mass adoption of cryptocurrencies, in general, and KMD, in particular. In fact, it is a central tenet of Komodo’s mission.
But this is not just a lofty vision or abstract ideal. Komodo is continuously working to make mass adoption a reality. With integration to the Cred micro-investing app and support for prepaid debit cards from Peer2krd, Komodo is taking two huge steps towards realizing this goal.
However, mass adoption requires much more than just fiat gateways and methods for using crypto to purchase goods and services. Mass adoption requires true scalability.
Komodo Platform is also making mass adoption possible with a new scaling solution known as Multi-Chain Syncing technology.
To put it briefly, Komodo’s scaling solution allows multiple blockchains to work in unison and function as a single chain. If one blockchain is no longer providing adequate performance, simply add another chain. If two isn’t sufficient, add a third. With Komodo Platform, every project can scale on demand.
At the same time, Komodo Platform offers unparalleled blockchain interoperability features that allow an arbitrary number of chains to cooperate and process transactions simultaneously. As a result, Komodo’s tech has already achieved processing power of more than 20,000 transactions per second.
With the ability to add as many blockchains as hardware will allow, Komodo’s scalability is virtually limitless. Plans are being made to run a public scaling test that demonstrates Komodo Platform’s ability to process more than 1 million transactions per second.
Scalability of this magnitude is a prerequisite for the mass adoption of blockchain technology. As the world’s most secure, scalable, and interoperable blockchain ecosystem, Komodo is prepared to lead the charge.
To get all the latest updates from Komodo, join the monthly email list. On the first Friday of every month, you'll receive a newsletter with information about all of the most important developments from the previous month. You can also join the Komodo Discord server to chat with other community members and the Komodo team.
Join us as we continue to promote the mass adoption of crypto and accelerate the global integration of blockchain technology.