STK search trends in Google
The STK token will enable real time point of sale (POS) transactions directly from users’ private cryptocurrency
wallets. We predict the ability to make purchases in-store and online using cryptocurrencies will speed
up mass adoption of the technology. The STK token is part of a global solution to facilitate borderless
transactions. To make instant payments at point of sale from a blockchain wallet requires we do a real-time
exchange of cryptocurrency into fiat. The STK token provides access to our state channels which a) ensure
there is sufficient cryptocurrency (i.e. Bitcoin, Ether) in the digital wallet and b) users spending fiat at point
of sale will complete the purchase from their cryptocurrency assets. STK automatically opens a state channel
between each user and STK’s own wallet. STK tokens fund the transaction, much like gas funds Ethereum
transactions. The first implementation will be with STACK’s digital wallet. STK tokens will be implemented
on the public Ethereum blockchain and adhere...
To date, cryptocurrency has yet to gain mainstream
adoption. The last barriers to mass market adoption
will be removed when cryptocurrencies become
embedded into everyday commerce. An estimated
of consumer spending takes place annually
between shoppers and merchants. Local/national currencies are used to pay for everything from your
cup of coffee every morning to your weekly grocery run. What if you could pay for your cup of coffee
with Bitcoin or Ether? Without requiring the merchant to change their point of sale equipment, STACK is
enabling ubiquitous merchant acceptance of cryptocurrencies. This will greatly accelerate the adoption of
cryptocurrency and tapping into the existing ecosystem of global commerce.
STK Global Payment’s vision is to create a globally accessible alternative to traditional banking, allowing
you to store your money safely, access it instantly and transact with it anywhere, in any currency including
CURRENT LIMITATIONS OF BLOCKCHAIN SETTLEMENT
Because very few merchants accept cryptocurrencies at point of sale or online, consumers must exchange
cryptocurrencies into their local currency to make everyday purchases. Through any existing exchanges this
can be time consuming, and comes with sizeable fees. Though some companies have made products that
enable retailers to accept Bitcoin payments, they are currently available at only a tiny number of locations.
Our goal is for this exchange to occur in real time, anywhere credit cards are accepted, and with fees
comparable to transaction costs on Ethereum. At present, the confirmation time for Bitcoin transactions
averages 10 minutes
, far too long for point of sale purchases. Ethereum transactions are faster, at an
average time of 24 seconds, but even this is too slow for point of sale.
Furthermore, neither the merchant
nor the local currency provider are willing to wait the required amount of time for the transaction to be
STK IS A SOLUTION THAT CAN BE IMPLEMENTED GLOBALLY,
WITH THE FIRST IMPLEMENTATION OCCURRING WITH STACK
In order for users of the STACK wallet to transact in real-time, the STK solution will be integrated into the
STACK digital multi-currency wallet. This functionality can only be accessed with a STK token. The STK token
will be used to pay for the operating cost of setting up the State Channel. Because STK tokens can change
in value, the price per transaction is calculated similarly to how gas prices are on Ethereum.
State Channels are a technique for making off-chain transactions with the same security guarantees as an on-
chain operation. State Channels allow us to conduct blockchain interactions as if they were being conducted
on-chain, but require only that two or more users exchange information with each other
. Participants in a
State Channel may exchange a large number of transactions between one another instantaneously, requiring
an on-chain operation only when the channel is closed. State Channels provide the speed required for
STACK’s point-of-sale purchase mechanism: at the moment of purchase, the user sends STK tokens to
STACK in exchange for STACK using their liquidity pool to make a fiat purchase through the global payment
network. This is a cost effective approach to enabling transactions.
HOW DOES THIS WORK IN PRACTICE?
1. Creating a State Channel:
The user loads their STK token into the STACK mobile wallet, which authorizes the creation of ...
2. Conducting Transactions and State Changes:
When the user initiates a point of sale transaction using STACK, they receive a visual prompt in the STACK
wallet showing the value of the transaction, similar to using traditional tap-to-pay mobile applications.
Behind the scenes, the user authorizes a transaction to send the equivalent cryptocurrency to the STK
Almost immediately, the STK platform receives the signed transaction, counter-signs and stores a copy
of that new state off-chain. STK then authorizes its local currency account to pay the requested purchase
through its global payment network rails on behalf of the user. Because the transaction occurs off-chain,
there is virtually no delay except for a small amount of computation time and network latency.
3. Keeping Funds Ready:
So long as the State Channel is open, there are no fees for conducting any number of transactions
between the user and STK. Moreover, there is no fee for keeping the channel open.
4. Withdrawing Funds:
WHAT IS STACK?
STACK is an alternative to traditional banking with a better way
to spend, save and share your money, fee-free and straight from
your mobile. Our app provides its members with smart solutions to
personal finance, with features like real time notifications, effortless
savings, financial IQ and mobile tap-to-pay functionality. STACK
is creating a community of users who celebrate the moments that
matter most by sharing stories of transactions on the STACK World
Stream. The STACK wallet is a working product that currently is in
private beta with a waiting list of 20,000 people.
STACK accesses a global payment network that enables worldwide
acceptance of the STACK wallet around the world. The STACK
wallet is a container for 10 sub-accounts that can hold up to 10
distinct currencies – both local currency and crypto.
Unlike other crypto payment solutions, STACK also provides alternative financial services in local currencies.
Our digital l...
TOKEN GENERATION EVENT
In order to further develop and promote the STK platform, STK will conduct a token generation event that
will offer for sale 275,000,000 STK tokens out of a 500 million total supply. The proceeds of the TGE will
be used for marketing, solution development (both iOS and Android), integration of STK with STACK and
the operation of crypto to local currency exchange. The remaining will be reserved for the liquidity pool,
bounty programs and referrals. Any unsold tokens will be burned.
For token sale pricing and timing, visit us at:
55% sold to public as part of token sale
25% held in reserve by STK Global Payments in order to fund
future transactional costs and to expand liquidity pool required
for future growth and exansion
10% founders and team
5% costs of token sale
USE OF FUNDS:
Marketing and customer acquisition
Alpha and Host Card Emulation (tap-to-pay functionality at POS)
Token design leveraging State Channels finalized with Ledger Labs
STACK Beta announcement and launch with global POS support and social sharing
Token Generation Event (Pre-sale Oct. 11, 2017)
Commercial Launch with Fiat
Commercial Launch with Crypto