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What is the KIBIS Network?

December 4, 2018

 

The road to widespread adoption comes from pegging cryptocurrencies to our daily needs. As of now, no project seems to have truly made this a reality at scale.

Today, however, Cointelegraph published a sponsored press release on a company that claims it has already done so. According to the piece, the KIBIS network has already partnered with airlines, Amazon Prime, Netflix, bill payment services and mobile carriers to offer fully operational kiosks in several countries in Europe and the Middle East. The overall aim here seems to be that people will be able to make all their necessary payments in one place, via the KIBIS Blockchain. At the same time, it is not immediately clear how many of the kiosks exist or if these partnerships are truly real.

 

As with any proclamation in any industry, the easiest way to validate this is to do your own research. After a quick look at the KIBIS website, it immediately becomes clear that the company’s press release that it gave to several outlets is a bit misleading. They do not appear to have rolled out any of their kiosks. In fact, their landing page makes it clear that this will begin in the United Arab Emirates in 2019. By the end of next year, they hope to move to more than one country.

 

In considering all of this, it is easy to wonder just how accurate these partnership announcements are, especially since the company will not even begin its’ ICO until December 10th. Because none of these partnerships seem to have been publicly validated by the companies involved, it is important for anyone who is interested in KIBIS to take them with a grain of salt.

 

Until KIBIS’s partners make their own announcements on the subject, everything will remain relatively uncertain. In the very least, this serves as another cautionary tale of what trusting a Blockchain company’s claims without fact-checking them can mean.

 

As KIBIS goes live, expect us to keep you informed on the subject.

 

 

By: BGN Editorial Staff

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