What's good in the hood, folks? I'll tell you what. Today my guest is Bradley Boyle, Founder of Kingaru.
- Kingaru was born when the founder, Brad Boyle, realized that the current solutions were not living up to the promise of the blockchain for retailers. Brad has extensive experience in both retail and wholesale transactions around the world and wanted to create a system that would become the payment solution bridging Web2 to Web3.
- For the last two years, the Kingaru team has been working on creating the most efficient transaction based blockchain. During that time the team has been working on the regulatory and licensing needs to bridge companies to Web3. Kingaru was issued a license from the EU member country, The Republic of Estonia in 2022.
- Brad is a seasoned entrepreneur has MBAs from University of California at Berkeley in Technology Marketing, and International Finance from Columbia University. In addition to his degrees, he has a certificate in Blockchain Technologies from the Massachusetts Institute of Technology (MIT).
- In addition to building companies that expand to over 30 countries worldwide, Brad understands banking and regulations and has been the Secretary of the Board for one of the top Credit Unions in the United States.
Chris: Good day! Thanks for taking the time with me. Your header states that Kingaru is the The Blockchain Built For Retail — can you explain it a bit further for our readers?
Bradley: Our presentation you can find here!
Most blockchains were created to accomplish different things. We looked at how commerce was being done on web2 and set out to design a blockchain that would work for retailers worldwide. We looked at how credit cards and retail/e-commerce work together and built a blockchain to support those actions.
As an example, Apple sells 10 iphones per second. Bitcoin can only hand 4-7 transactions per second, making this virtually impossible for Bitcoin to even handle those transactions. Ethereum and Binance are better, but their blockspeed holds them back from being able to transact.
We believe there are 7 reasons that retail has not been adopted the blockchain:
- We are licensed in Estonia, which is a EU member country that gives us regulation across Europe. There are only about 100 companies that have this license.
- Interoperability between coins – we have a bridge where coins from other major chains can be locked, then a newly minted coin is created and now the other major coins can be used on the Kingaru Blockchain.
- Consumer rewards – Consumers need a reason to come and use the blockchain so we are creating an interoperable rewards program for merchants to reward consumers for paying in crypto.
- Transaction speed - We designed Kingaru (KRUchain, KRUcoin) to handle those transactions from the onset.
- Cost of transactions – Ethereums GWEI goes up and down constantly, businesses have to know how much their transactions will be to forecast properly. KRU’s transactions are 1/30th of credit cards. (.1%)
- Our license gives us the ability to bank and we have accounts in Europe and the United States to bridge crypto to retail.
- We have gone through 4 different audits.
Chris: Would you mind telling me your story as far as the onset of the business?
Bradley: We own a travel company called JIFU.com, we do not make any money on the travel itself, we just charge a montly fee. We had affiliates all over the world asking to pay in crypto and we could not find a crypto that met our needs. The blockchain needed to be guaranteed to settle in ten minutes or less and not cut into the discounts that our site offers. Either the blockchains were too slow or too expensive. That is when we started looking at what it would take to create our own. 2 years later, a lot of money, and a license, we are ready to rock and roll.
Chris: So what sets you apart from your competitors really?
Bradley: See the 7 reasons above.
Chris: You state that you have a bullet-proof payment system — can you unpack that?
Bradley: We already have built the ability to transact on Woocommerce and Magento. These are massive systems with millions of users and billions in revenues. See demo - https://kingaru.com/demo/
With the blockchain, you have to give your permission with your personal key, therefore the fraud is reduced.
Chris: Sweet! Tell us about your token and exchangeable rewards for the users please.
Bradley: This is our next development, but here is what it will do:
- The blockchain will give the merchant the ability to choose how much of the transaction savings versus credit card processing the consumer will receive back.
- So lets say that the merchant is getting charged 4%, in reality they could give 3% back to the consumer in rewards to keep coming back.
- Because they will not have chargebacks, they could had 3-4% more in rewards. Now they have a very loyal customer who will come again and again.
- Instead of a sale, give more rewards. When you think of major airlines giving miles, or hotels giving points, it is really only 1% of revenue and people will do everything possible to fly on those same airlines. Imagine what consumers will do.
Chris: Wow, you have a Metaverse as a part of your development — what are its main features the way you see it?
Bradley: We are not building our own metaverse, we want to be the payment blockchain in those metaverses. Because our blockchain is nearly instantaneous, not more waiting to buy your sword, shield, or shoes in that mall. WE are looking for metaverse partners, and partners on all kinds of applications across the blockchain.
Chris: Any general take on the industry? What is the next big thing we should expect?
Bradley: I believe that the industry needs and wants regulation. Regulation will provide confidence to the consumers. The technology is amazing, the benefits are there, with the correct regulation the world opens to real utility on the blockchain. That is why we built it the way we did.
I believe we will see some of the antiquated technology and meme coins suffer. People want utility. Just because Windows 3.1 was truly revolutionary, doesn’t mean that people will use it forever. Or Netscape, brought us web2.0 but no one uses it anymore either. Technology has to move forward. The market needs to adjust and make improvements.
We believe real value is built on utility, that is the entire goal of KRU, to be utilized!
Chris: Thank you! Anything else you would like to share with us? Where can our readers follow you?
Bradley: We are listed on Bitmart and are working on other exchanges. Right now is a great time to be a part of the KRU path. We launched on October 27th and we are up 160% in less than a week. https://www.bitmart.com/trade/en?layout=basic&symbol=KRU_USDT
Linkedin: https://www.linkedin.com/company/kingarufoundation
Telegram: https://t.me/+BxbsgwrfGDphOTcy
Twitter: https://twitter.com/kingaruofficial
Discord: https://discord.gg/Se8Jce3vcA
Instagram: https://www.instagram.com/kingaruofficial/
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