On November 13, 2017 STK (“STK Global Payments”) will conduct a Token Generation Event (TGE) and will make the STK token available for purchase on the STK token sale site (www.stktoken.com).
The STK token will enable real time point of sale (POS) transactions directly from users’ private cryptocurrency wallets. We predict the ability to make purchases in-store and online using cryptocurrencies will speed up mass adoption of the technology.
The STK token is part of a global solution to facilitate borderless transactions. To make instant payments at point of sale from a blockchain wallet requires we do a real-time exchange of cryptocurrency into fiat. The STK token provides access to our state channels which a) ensure there is sufficient cryptocurrency (i.e. Bitcoin, Ether) in the digital wallet and b) users spending fiat at point of sale will complete the purchase from their cryptocurrency assets. STK automatically opens a state channel between each user and STK’s own wallet.
STK tokens fund the transaction, much like gas funds Ethereum transactions. The first implementation will be with STACK’s digital wallet. STK tokens will be implemented on the public Ethereum blockchain and adhere to the ERC20 protocol.