Blockchain-solution company Kona Summit Platform Coin (KSPC) is releasing Kona Pay, a payment and transaction solution that introduces a distributed ledger-based payment system.

Kona Pay is a mobile platform that allows users to purchase products and KSPC tokens in real-time worldwide using the Ethereum blockchain. Kona Pay can be installed on mobile devices, offline or online products can be recognized as QR codes, and payments can be made immediately with KSPC tokens. 

Merchants who join Kona Pay as sellers can also send digital invoices for buyers to pay for products with KSPC tokens.

Kona Pay uses blockchain technology to allow all users, companies and traders to make payments and transactions in real-time as long as they can access the internet. It supports complete peer-to-peer transactions without going through computer networks such as banks and personal guarantee or third-party brokerage systems.

This role of Kona Pay is very important in e-commerce and distribution markets where demand for perfect non-face-to-face solutions is increasing. As local markets and shopping malls gradually decrease due to the coronavirus pandemic, users that have to purchase daily necessities have no choice but to find, acquire and purchase products online. In addition, in order to purchase products that are only available in certain countries, users have to wait for a long time for remittance and delivery.

Considering these points, KSPC will also unveil a blockchain-based e-commerce platform next month to encourage shoppers to shop globally and encourage sales companies from small- to medium-sized businesses. KSPC tokens can be freely used for KSP shopping malls and can also be swapped to other Ethereum-based tokens using KSPC’s own distributed exchange system. This distributed exchange system will be built in the future to allow various blockchain-based tokens to be swapped in addition to the Ethereum blockchain.

Before introducing various platforms other than Kona Pay, Luna Park, CEO of KSPC, said, “It is very difficult to see a practical blockchain platform that can actually be used for daily purposes. Kona Pay and other e-commerce platforms unveiled by KSPC are expected to be innovative solutions that users around the world can experience in real life.”