Everyday transactions in crypto have been complicated and difficult based on two major issues, time and cost.
Joe walks into the local grocery store and wants to pay for groceries in bitcoin.
If the local grocery store allows Joe to purchase using current checkout process, Joe would need to wait between 5 mins and 3 hours on average.*
If Joe wants to wait less time, he can pay higher gas fees on certain networks.
Bringing two industries together
What makes KRU so unique?
and retail sales
Why commerce and crypto don’t currently work well together
It’s too slow. Average transaction time for major blockchains is 5 minutes – 3 hours.
The cost of transfer can be unstable and expensive, making it difficult for retailers to plan expenses.
Transferring to traditional cash is complicated.
Lack of consumer adoption due to complexity of technology.
Lack of retailer networks that accept crypto.
How KRU solves the problems
KRU takes just seconds to transact and finalize the exchange.
Cost is minimized due to our delegated proof of stake technology.
In addition to exchanges, KRU is backed by a treasury allowing vendors to exchange for local currency.
Simple technology allows for quick adoption from consumers.
Large retailer networks allows for many places to utilize KRU.
User browses shop and goes to checkout counter.
User scans the retailers QR code.
A QR code / wallet address window / widget would appear instructing the user where to send KRU and how much to send.
The user would then send the appropriate amount of funds and once the funds were received, the transaction would be approved, and the register would show “order complete”
KRU would then be sitting on the shop / vendor’s crypto wallet for them to see and use.
Vendor could invoice Kingaru and be paid, or hold on to KRU and exchange later.
The vendor would send KRU to Kingaru treasury wallet address and Kingaru would then ACH the vendor USD.