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Kingaru Launches New Blockchain That Can Expedite Payments And Provide Immediate Confirmation For Immersive Commerce

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(Credit: WorldSpectrum from Pixabay ) Image by WorldSpectrum from Pixabay
June 16
1:59 PM 2022

Kingaru announces the launch of a new Blockchain as well as the native cryptocurrency KRU. Kingaru was designed with the retail and consumers in mind, and has been purposely built for the utility of transactions in retail, e-commerce, digital commerce, and the immersive commerce that is unique to the Kingaru chain. The average transaction time for other major blockchains can range up to 3 hours. Kru makes it possible to expedite payment, so that settlement and confirmations are within a few seconds.

KRU Payments is a simplified, user-friendly payment solution that can help make transactions easier for online retailers and consumers. Consumers benefit from expedited payments and confirmations and purchase discounts in the form of KRU rewards. In addition, retailers eliminate excessive credit card fees and access a wider pool of customers who want to use KRU and its rewards loyalty system.

Brad Boyle, Founder of Kingaru said, "When processing payments for Jifu.com, our exclusive members-only platform for discounts on travels and vacations, we realized that customers who wanted to make payments in crypto were facing a lot of delays. To make payment with crypto easier for them, we developed the Kingaru Blockchain and Web 3 Protocols to solve the problem we saw in real world use cases. We then realized that it could be used not just for Jifu but for a wide range of other platforms and decided to open the technology to the rest of the world."

KRU has already integrated with Woocommerce and Magento e-commerce platforms, with the integration to Shopify coming soon. As a result, consumers can utilize Crypto for payments and receive confirmations almost on a real-time basis from online businesses that use these platforms that accept KRU. Another benefit that  merchants get is avoiding the hefty credit card processing fees and chargebacks, which are a major cost to small businesses around the world.

Kingaru is registered and licensed in Estonia and holds a virtual currency license from the F.I.U. At time of launch, Kru will use the delegated proof of stake (DPoS) to confirm transactions. The DPoS process is what makes it possible for transactions to be carried out within a few seconds, thus providing both scalability and speed. The integration process is also relatively simple, thus increasing the possibility of adoption by a wider pool of online retailers.

Brad concluded, "Presently, transacting in Crypto is a very complicated process which is limiting the adoption in all aspects of retail. Hence, it is important to make the payment process as easy and seamless as possible. Compared to other options that are available in the market, KRU makes the entire process very fast and secure. We plan to make the solution available worldwide in July."

 

 

Media Contact:

Name: Brad Boyle
Email: contact@kingaru.com

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