Why will KILT Protocol be one of the most important projects and generate the highest ROI on Polkadot?
We all know that during the California gold rush of the 19th century, it was sellers of tools like spades and picks who made the biggest profits. Most of the people involved in this craze were not inherently wealthy. We are now seeing exchanges that are virtually risk-free compared to what they have accomplished in allowing anyone to trade all cryptocurrencies in one of the most historic times in the industry. As you can see, the best chance to benefit from this type of event is to contribute to this process.
At the moment, huge amounts of developers and capital are pouring into the Polkadot system, especially from Ethereum. One of the biggest and most watched events this year is the Parachain auction, which is slated to start in the near future. As more and more projects join the Polkadot mainnet, the transition is expected to accelerate significantly as more and more projects start crowd sales on Polkadot instead of Ethereum.
Like the people who sold spades and picks during the California gold rush, one of its most profitable players is the organization that contributes to upcoming fundraisers on Polkadot. Polimec will be Polkadot’s own liquidity mechanism, a fundraising mechanism for the Polkadot ecosystem.
Many of us probably remember what happened in 2017 when the bull run peaked. Many projects start their own crowd sale on Ethereum by running an ICO, even those without a product or even a website. Accordingly, the demand for ETH exploded, causing the price to escalate as millions of people flocked to these exchanges. Similarly, this is likely to happen on a larger scale later this year at Polkadot, which is why a lot of people are betting heavily on Polimec.
What does the KILT protocol have to do with polymer? The protocol is based on Polimec and is rated as the best for monetization using native tokens from the KILT blockchain as they release the necessary KYC / AML (identity verification / anti-money laundering) information for every investor.
In short, for this process to run smoothly, you need to submit your information to validators for verification and add it to the KILT blockchain. To be a validator on the KILT blockchain, you must have an unpublished amount of KILT, and all of this validation is done through one transaction, which drives demand for KILT as each transaction requires the use of KILT tokens.
KILT and the huge untapped potential
KILT has a great advantage going forward and will be one of the most important groundwork projects in the entire Polkadot ecosystem. KILT is currently also cooperating with Fractal, the KYC method for most projects in the pre-sale phase in Polkadot. In addition, the upcoming Polkadex (like Uniswap from Polkadot) has also integrated the KILT SDK. KILT’s SDK is built in Java, so no blockchain experience is required to integrate with the product.
In March of this year there are 5 active projects in the Rococo Parachain Testnet (test network). It seems that KILT is the least mentioned project considering the number of followers on Twitter and the official Telegram groups. KILT is forgotten for no reason, although it is the most developed and solidest project in Polkadot.
From an investment perspective, this is a blessing as it implies that KILT is undervalued and will be significantly higher in both the percentage of possible impressions and profitability. When someone says “this looks like it happened in 2020 when Polkadot made his $ 1.25 private sale” or asked how people have been waiting for Kusama, yes it can be said that KILT is getting more and more after looks like a project that will give the best ROI with less risk than other large projects on Polkadot as it will definitely be successful.
What else can KILT bring besides Polymer? KILT claims to be an open source blockchain protocol that provides on-demand, verifiable, and anonymous credentials in Web 3.0. The protocol allows users to claim any attribute about themselves that is authenticated by trusted parties and store the request as credentials (certificates). In the context of trusted entities that issue credentials in order to receive funds, KILT aims to promote a new business model for anyone who has trust or wants to build trust.
KILT protocol and web 3
One of the most important things is that KILT is involved in Web 3 as well. There is no clear definition of Web 3 or a single creator, but rather a collaboration of many different individuals and organizations such as the Web3 Foundation run by the founders of Polkadot.
The main difference from Web 3 is that it is decentralized and users manage their data instead of intermediaries like Facebook. There are now many accounts on different systems such as Facebook (user accounts), banks (passports), workplaces (stamp cards) and many other intermediaries such as governments, centralized companies. Many of these people regularly use them for their own gain, and these credentials are at risk of being leaked.
With KILT, users only need an access record, which they manage themselves and decide how they want to use and view what, even just their name. Plus, only one passkey is required to use the credentials anywhere. No need to remember multiple passwords for accounts on Snapchat, YouTube, and Instagram!
KILT and endless possibilities
In a world where KILT has become extremely popular, when you go to work, register your ID with KILT, then go to the cafe at work and show your ID. You use a machine to which a large number of goods have been assigned their own ID and order automatically with your paycheck (payment in crypto currency). The deliverer comes with his ID to fill the machine with products that also have their own ID. At the end of the month, this machine will seamlessly distribute the profits to all investors who also have IDs. There are many other use cases for KILT like automotive, messaging, advertising, etc.
A new and current innovation is the COVID vaccination certificate. KILT will likely benefit a lot from this as they released an AntiCov app designed for it.
Team of the KILT protocol
Team KILT has 15 employees and the interesting thing is that, unlike most other projects, they only employ full-time developers. This ensures greater efficiency and faster development. The team is made up of some big names, from former Polkadot / Web3 CMO and Web3 CFO to developers who ranked third among the 2000 invitees in Apple’s developer training program.
Team cincubatea KILT protocol
The team includes computer scientists, mathematicians, lawyers and philosophers to ensure the full potential of all phases, from theoretical innovation on paper to practical innovation on a government scale. What’s interesting is that more than half of them are developers, so a lot goes on behind the scenes, such as the impressive GitHub activity.
CEO of the KILT Protocol
We all know that the CEO is one of the most important factors. This is even more important with startups. If you can listen to what CEO Ingo Rübe has to say, you can see his passion and knowledge. Ingo is currently on the board of Drupal, a platform like WordPress, but even bigger. He holds a degree in computer science from the Technical University of Berlin, one of the most competitive universities in Germany. He is also CTO of Hubert Burda Media (the company that invests in KILT), one of the largest German media companies with a turnover of several billion euros.
Ingo Rübe – Managing Directorincubatea KILT protocol
He founded his first startup in the 1990s, the company was sold in 2000 and clearly proves that he has a lot of relevant experience. Ingo Rübe is a member of the renowned International Association for Trusted Blockchain Applications (INATBA) and also works as a blockchain expert for the German Bundestag.
The project cooperates with Moonbeam, Fractal, Polkadex, dena (German Energy Agency), Energy Web and is close to Polkadot founder Gavin Wood. KILT has received 2 grants from the Web3 Foundation. You are also involved in the GAIA-X project, which involves more than 300 organizations from many countries, and the main goal is to create a sovereign open data ecosystem against the current centralized data ecosystem, that of a number operated by companies in the United States.
KILT and dena (German Energy Agency)
The partnership with dena alone proves the seriousness of the project. Specifically, KILT is suitable for use in one of the most heavily regulated sectors in the world. KILT is used as an infrastructure for decentralized identifiers and verifiable access data that represent the identities of smart meter servers.
In addition to dena, the project works with more than 20 companies in the industry, including not only traditional energy sources such as batteries and vehicle charging stations. Due to this partnership, the demand for KILT will be enormous in the future and proves that KILT has a very high capacity.
KILT and moonbeam
Another impressive KILT partnership is with Moonbeam. Moonbeam is one of the most famous polkadot projects. This ensures that Polimec has smart contract features for investments, airdrops, sales, bounties and everything else that is currently available on Ethereum and possible on Polimec. Accordingly, the process of issuing, transferring and transitioning from one chain to another is guaranteed to run smoothly and without great effort. As you can see on the Moonbeam website, they are not with anyone else.
KILT Protocol is one of the first projects to be based on substrates (start 2018) and will be a …