There is no doubt that in 2017, the concept of virtual currencies attained some degree of acceptance in society.
However, there are many for whom a virtual currency accompanies negative connotations: as something that is "virtual, just as the name implies, and invisible by normal means," "speculative" and "unproven and unreliable." Unfortunately, such negative views were further spurred by incidents involving the large-scale loss of virtual currency from major exchanges in January 2018. The likely reason that people hold such negative views of virtual currencies is that they have come to be considered as speculative entities that only exist in a world of thoughts and ideas and are only valid in a virtual context.
To help address this situation, the goal of the KINGS Project is to make virtual currency into a real-world payment infrastructure. This is a project to eradicate these negative conceptions that people have about virtual currencies and to achieve a virtual currency usage scope like the one that was originally intended. That is to say, we aim to imbue virtual currency with a real-world presence and deliver technology enabling it to be utilized not as a vehicle for speculation but as a real-world payment infrastructure in order to help create a society where conduct their economic activity in a more free and open manner. In addition to developing and issuing a special KINGS (KNG) Token, the KINGS Project will invest in the development of payment terminals essential for the utilization of virtual currency and the linking of these with existing payment infrastructure, such as that utilizing IC cards and QR codes.
In addition to these technological efforts, the project will also place special emphasis on investing in the creation of an "ecosystem" where payments can take place and in regulatory support for such systems in multiple countries, a point which can be considered the most significant difference between this project and other projects, which are only concerned with "issuing a new token." To achieve these objectives, planners on the KINGS Project core team include experts in POS and other device development fields, experts in real distribution and payment-related fields such as trading, with an emphasis on Asian markets, experts in the resort hotel development field and professionals with proven experience in the entertainment marketing and payment fields in addition to its contingent of blockchain and ICO professionals. In addition, board members include specialists with experience, influence and personal connections in a variety of industries, including a former Tencent consultant, a former Avex China Vice-General Manager and a former Huawei COO, working together to design and build a robust real-world payment infrastructure. We understand the notion that a virtual currency is "OK as long as it rises in value."
However, we believe truly increasing its value requires it to be realized as a technology that performs a real-world function in society. We are building a virtual currency the way it should be. We hope you will share our excitement about the KINGS Project.
