STACK (STK), the revolutionary approach to personal finance and alternative to traditional banking

With so many cryptocurrencies springing up in recent days, I have not come across anyone that focuses so much on merchant acceptance of cryptocurrency. STACK 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 crypto by using the STK token, right from your smartphone, using the STACK app. 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. STACK has partnered with an existing payment network that will allow the cryptocurrency wallet to be used at 39 million merchant locations.

Before i go deep down into STACK and how it works, i will quickly give a quick explanation of Cryptocurrency and Token for those that do not understand the what and hows of these terms. You can skip this part if you are already do.

SO WHAT IS CRYPTOCURRENCY?

I first heard about Bitcoin in 2012 but i didn’t “get it.”

Terms like decentralized, distributed and disintermediatipiqued my interest, but I lacked the technical understanding to really understand what I was looking at.

I started reading up a bit more in 2015. However, only after a deep dive over the last 1 year do I feel like I’ve even begun to wrap my head around it.

A cryptocurrency is a form of payment which is similar to the currencies commonly used such as United States Dollar or the British Pound. However, unlike these currencies, cryptocurrencies are decentralized. There is no central government to print more of them out to cause inflation. In fact, cryptocurrencies have been formulated to gradually decrease in production as time goes by. Bitcoin, for instance will never have over 21 million coins in dissemination.

WHAT IS TOKEN?

A token is a representation of value, a sort of digital asset (dasset). The Ethereum developers decided to standardize this process, and so the ERC20 ‘Token Standard’ was created. This templated-contract standardization contains a series of functions that enables the issuance, distribution and control of the assets in a formalized, standardized manner.

A token standard allows for the ease of interoperability between DApps (decentralized applications built on the Ethereum public chain) and the tokens built by the programmers.

STK TOKEN

STK token is an ERC20 based Ethereum token used for all transactions within OutMySphere and value transfers between STACK wallets and to have access to the STK State Channel.

STK Token support the following

Real time conversion from crypto to local fiat currency at point-of-sale
Tap-to-pay functionality on the STACK mobile app and on participating 3rd party mobile wallets
Social sharing to celebrate moments that matter on the STACK World Stream
The ability to withdraw cash from any ATM

STACK PROCESS

Create a State Channel meaning you can load your STK token into the STACK mobile wallet, which authorizes the creation of a State Channel with the STK platform. Both the user’s device and STACK keep a local copy of the current state of the channel. Creation of a state channel requires an on-chain operation.
Initiate a point of sale transaction using STACK, which will display a visual prompt in the STACK wallet showing the value of the transaction, similar to using traditional tap-to-pay mobile applications. You can authorizes a transaction to send the equivalent cryptocurrency to the STK platform. 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 your behalf.

OTHER STACK SERVICES

STACK offers its members fee-free, digital money services including:

STACK UP Savings: it allows you to Create savings goals as broad or as specific as you like, Automated round-ups help you save a little or a lot, Categorize your goals to receive relevant offers and rewards based on what you’re saving towards.
Financial IQ: gives you personalized tools to help you reach your goals faster, Providing insight into your spending and saving goals, Categorized spending helps you see where your money goes.
Security: STACK uses industry-leading safeguards to protect your money, data and privacy, so accounts are secure and protected, Transition Notification, In-app card freeze, pin resets

TIMING

STK tokens will be available for purchase on the STK token sale site (www.stktoken.com) commencing December 11, 2017. The cost per STK token is ETH 0.000672.

A maximum of 155,172 ETH and a minimum of 3,600 ETH will be accepted for the sale of STK tokens. STK tokens are not available for purchase for residents of United States of America or Canada

Pre-sale Starts : October 30, 2017

Pre-sale Ends: December 10, 2017

Sale Starts: December 11, 2017

Sale Ends: January 14, 2018

Early Movers Information

STK tokens for sale represent 55% of all STK tokens.

Presale — Discount 20%

Tier 1 — Discount 10%

Public Sale — Discount 0%

TOKEN DISTRIBUTION

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% advisors

5% costs of token sale

USE OF FUNDS

Funds raised through the token sale will be used as follows: