Bitcoin sidechain based K.im token discussed by Dotcom as Bitfinex puts hold on its sale

The cryptocurrency world has been witness to the many developments as well as the entry of surprise members that rocked the industry. The latest luminary to enter the space was Kim Dotcom, the world-famous internet entrepreneur who shot to fame after founding Mega, the file uploading file. In a recent interview, the computer programmer talked about his namesake token, the K.im token, whose sale was recently postponed by Bitfinex.

During the interview, Dotcom talked about how the crypto world will revolutionize the content distribution industry by opening up the space for the general populous. The entrepreneur stated that the K.im platform, built on top of a Bitcoin sidechain, would basically act as a “file shop.” According to him:

“What we are going to do is essentially turn files into shops. This means that if you want to sell your content, you can create a file container using k.im tokens. The file container will consist of two encryption layers, where one acts as the shop while the other protects the main file. This added security means that the user will need to go through two gateway of encrypted payments, which essentially acts as a peer to peer process.”

He further added that the bitcoin-based platform would free users and consumers from large monopolies while at the same time reducing the limitations in the space. This, according to Kim, will make it much easier for users to conduct e-commerce.

The infamous founder of Mega, whose extradition is still being discussed, claimed that the cryptocurrency foundation would result in slow growth. Nevertheless, once it picks up, the graph will be almost vertical.

“Basing our platform on Bitcoin gives us the opportunity to leverage the power and security of the world’s largest digital asset. We chose Bitcoin over other cryptos such as Ethereum because of the simple concept of scalability. Once the platform and token is implemented, I expect it to witness millions of transactions.”

The K.im taken had come under scrutiny recently, which resulted in Bitfinex postponing the token sale indefinitely. The cryptocurrency exchange admitted that there were certain risks associated with this particular token sale and, after a mutual discussion with the K.im team, decided to push the sale. Bitfinex’s official blog post said:

“In the meantime, the K.im platform project itself will continue and it is likely that an equity based offer will be made some time in the near future to qualifying investors who wish to become involved at this stage of the project.”

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