Exchange Solution of KRONN
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Time-consuming and expensive international transfers.
Transfers usually take time and money, especially overseas transfers. It happens because of all the extra steps involved for the bank. For instance, technical issues regarding markers, dual controls, and identity confirmation processes, which vary across countries. It results in many hidden fees and unexplainably long waiting times. Although there are ways to speed up the delivery, it comes at a cost (i.e. additional fees).
Our solution is to use a digital currency for person-to-person transfers. The KRONN eXchange system allows for the real-time transfer of cryptocurrency between people. People located in different countries will be able to withdraw the money instantly from the local KRONN Exchange, while lowering fees by up to 85% when compared to the traditional method. * The numbers above are a weighted ratio as to how many resources and how much effort each different institution has to put into the respective services.