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KABN network ico review

Financial institutions in the 21st century aren’t the brick and mortar institutions which existed and thrived mainly in the 20th century.

Financial transactions are no longer about the institution which the consumer may go to, but instead, it is more about the consumer which fits the bill of the individual generation (generation z) which we find ourselves in. Now individualism is based on interest, and passion as the new culture.

Millennials and generation x must adapt as the rate of knowledge absorption is growing at an exponential rate. Generation Z is the emerging force of the future; imagine what they would be doing in their time.

Blockchain technology is perfect for this kind of individualism due to its peer-to-peer approach. This is since peer-to-peer technology is already individualistic in its approach to processes, so decentralization and individualism take the front row.

The KABN Network is a unique blockchain solution which will change the way financial services occur the world over.

What is KABN Network?

The KABN Network is a Neo-financial service which caters mainly to millennials and generation x who currently form the bulk of financial service users.

Neo-banking and other neo-financial services are the new kids on the block. In a generation where debts are at an all-time high and the cost of transactions for traditional institutions far outweighs the services offered, electronic (virtual) banks, and other forms of non-traditional financial institutions are able to provide the same services which the traditional financial institutions do on a smaller scale; thus passing on the savings of their operations to the consumers.

With its headquarters in Vancouver Canada, KABN is an organization which has solved the major hurdles faced by most financial institutions when trying to implement financial services on a global scale using blockchain technology.

The KABN network is an integrated suite of financial services that includes the Pegasus Flyte Visa Card which is crypto-linked and a multi-currency mobile banking wallet. The KABN ID, a patent-pending, Always On, GDPR compliant biometrically based identity verification and validation platform which is a free to use for consumers thus passing on significant savings in cross-border and international transactions. And KABN KASH, a loyalty and rewards program which ensures that members and participants in the ecosystem are adequately rewarded via a cashback program.

After due research on the global financial ecosystem, KABN discovered the following problems and came up with individual solutions to help solve those problems:

  • Corporate clients (“clients”) require international compliance solutions.
  • Clients require KYC/AML screened “good-to-go” consumer customers.
  • Millennials and generation-x consumers increasingly want to spend crypto on everyday items (over $100B in stranded cryptocurrencies).
  • Millennials and Gen-X consumers want differentiated, personalized offers and discounts.
  • Retail estate investors want access to early stage opportunities.

Based on the above, KABN offers its products and services to help streamline financial services on a global scale.

On the issue of Anti-Money-Laundering for instance, it is a well-known fact that politically exposed persons (PEPs) are known to use their families, friends, and associates to launder ill-gotten funds for them. With KABN ID, such individuals can be fished out and red-flagged instantly.

The KABN Network Ecosystem: Key Features


KABN ID is a complete identity verification and compliance system which is the flagship application of the company which is light years ahead of other competitors.

As identity management and verification system, KABN is easily applied in the following critical sectors:

  • In the banking and finance sector where identity is crucial for transparency,
  • In healthcare which can be used to track patient treatment history and other multiple data sets which are linked with the patient identity,
  • In government registration for citizen identification. Used in the planning of programs and policies (social security, education, etc.),
  • General age verification services,
  • Other market segmentation where verification of identity is a critical factor.

To aid compliance (KYC-AML) and other identity required solutions for a safer global financial ecosystem, KABN offers total end-to-end customer-facing identity solutions for corporate clients which are easily implementable on the ground due to the whitelist system in place; this makes the cost of ongoing compliance cheaper for all parties involved.

It is because identity verification and management solutions are generally costly and face critical security challenges due to the sensitive nature of personally identifying data which is gold to criminals and other undesirable elements of society.

The Whitelist Concept

The whole KABN system is built around having a whitelist ready-to-go list of consumers who have zero problems with compliance and aren’t likely to do so.

Flexible Whitelists

It’s quite simple. Flexible whitelists are driven by basic yes or no binary operations for execution of transactions.

Say a consumer wants to purchase crypto-tokens or perform any other action for instance, after applying to join say the initial coin offering (ICO) or the Security Token Offering (STO) all he or she has to do is to fill a couple of forms within any application connected to the KABN ID API and add some documents.

Once the application is approved, the said individual can then perform the desired transaction.

The applicant does not need to apply twice for joining any whitelist within the KABN platform since he or she has already applied once before due to history retention.

Always-On Compliance

One challenge in the identity solutions industry is the fact that information changes for the individual from time-to-time. Some (a few) also do become non-compliant for any reason at all.

KABN ID uses internationally recognized KYC documents.

Compliance has already begun in several countries. This also includes Europe where the source of wealth verification is ongoing.

Customers regularly receive requests for information update in line with AML globally acceptable standard practices. Customers are also continuously monitored for AML activity.

Blockchain Registries

Integration of crypto assets to identity is seamlessly achieved via self-executing code deployed by crypto-asset issuers on the KABN ID blockchain network.

Linking of at least a single crypto-wallet is compulsory for the KABN ID whitelist user. Once the binary execution code within the smart contract is linked with the KABN ID blockchain network, identity verification occurs on its own accord, and the customer is either allowed or denied access to participate in the crypto asset issuance, sale or storage as the case may be.

Data Vault

All sensitive documents relating to personally identifying information (PII) are stored within encrypted databases at KABN’s secure datacenter in Ireland.


This is a card issued in partnership with Visa and linked with both cryptocurrency wallets and multicurrency fiat accounts. As such, it makes it easy for the cardholder to be able to convert fiat to cryptocurrency and vice-versa.

The Pegasus Flyte Visa card program allows for this conversion.

Spends, in-store online and ATMs worldwide will be accessible via this card.

Conversions in real-time from cryptocurrencies to fiat don’t exist at the moment. This is because exchanges have to implement wire transfers which take some time to arrive in the beneficiaries account.


KABN KASH is the loyalty program of the KABN network. It aims to enable all the members of the whitelist to earn cash back when shopping and spending.

This will be achieved through cashback offers (loyalties and rewards, exclusive offers, etc.) which will enable the cashback program entirely online via e-commerce websites and other retailers linked to the system.

The data collected from the end user shopping experience will be used to factor determinants in the consumers’ behavior to create a complete user experience which is personalized down to touch and feel.

Team Members

The following people have made the KABN dream possible. They are discussed serially.

Founders and Officers

  • Ben Kessler (CEO)

Ben Kessler has over 20 years of experience with working within the media, technology, and business to business (B2B) sectors on a global scale. He has worked in various capacities with global brands such as Estee Lauder, Mastercard, and American Express.

He currently holds a B.A. in Politics from Brandeis University and an MBA from NYU Stern School of Business.

  • Michael Konikoff (Chief Revenue Officer)

Michael Konikoff holds several memberships in different advisory committees including Pegasus Fintech Industry Advisory Committee and the Industry Advisory Committee of Crowdgener Inc.

With a career that has spanned over 30 years, Michael has held strategically important positions in companies which have a leading edge. Such companies include Compass Research where he served as Vice President and Equity Rewards where he served as Vice President Sponsor Development.

He graduated from the University of Windsor in 1981 with a bachelors in Business.

  • Jason Imola (Interim Chief Compliance Officer)

Jason Imola has been involved with financial institutions for more than a decade. He understands their needs and can interpret them for best use in terms of compliance.

Organizations which he has been involved with include Dundee Capital Markets where he was the Vice President of Institutional Equities and National Bank Financial.

He possesses a B.A. in Economics from Western Sydney University and has been a member of the venture capital executive program, University of Berkeley Haas school of business.

He is currently an MSc candidate at the University of Southern California, Lovine and Young Academy in Design, Business, and Technology.


Strategic advisors to the KABN network include the following:

  • Matt Mcguire who is the founder of the AML shop. He is also an expert in risk management and anti-money laundering.
  • Kriya Patel who is the Managing Director of Transaction Payments Limited. She is an e-payments and Fintech expert who has strategic expertise in electronic money.
  • Michael Gord who is the CEO of MLG Blockchain Consulting and a board member of the Bitcoin and Blockchain Alliance of Canada.
  • Bruce Silcoff who is the CEO of Shyft which is a blockchain data protection, identity verification and compliance platform for institutions.

A Borderless World

Technologies such as employed within the KABN network allow for borderless travel with minimal documentation due to near instant verification.

In an age where everything happens almost instantly (so they say), we are now entering the gilded age of humanity where you can move from one country to another without literally carrying any cash, and you won’t need to do so either.

Projects like the KABN network allow for identity verification by governments and corporate organizations globally, so the concept of money is only one aspect to it.

Apart from the above-described scenarios, whitelisting has so many applications in real time such as prediction of criminal intent (via analytics), proper criminal identification across borders, healthcare history case transfer globally without the need for paperwork and so forth.

This is the twenty-first century. A century of endless possibilities…

To learn more, visit their official website or download their whitepaper.

Article Creator: coffeelatte

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