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Unless this is going to transfer ethercoins, this is a SCAM. They are trying to build a bank on top of smartcoins. The functionality seems like that of a prom

• ben174 7y ago
  > CTA: "Request Access" > Need more Kong? Reach out and we'll see what we can do. Yes everything about this reads like a scam. Uses the most basic scam tactics, make it seem urgent, and desirable and exclusive.
• paulgerhardt 7y ago
  The functionality is basically exactly like a promissory note. A big difference is every note stores its face value token in its own smart contract. The only thing which can claim the funds stored in that contract is the key self-generated on the secure element. You can manually validate that key was self-generated (and not say programmed on there by the manufacturer). The paper [1] details all this. You can go and make your own using the code we've released on etherscan and github[2]. It is completely unlike other things that have come before because it only stores keys on the secure element and only stores code in the EVM. We're putting this out there as proof of concept. We're selling a limited number as validation of the idea and because we believe in shipping product in a space notorious for shipping vaporware. There is no ICO. It is technology demonstration first and foremost. [1] https://ipfs.io/ipfs/QmRNRCocj4PwKMXrd1jeUGw7ASQSuEk7BDJu5KsGuWBXAX https://ipfs.io/ipfs/QmRNRCocj4PwKMXrd1jeUGw7ASQSuEk7BDJu5Ks... [2] https://github.com/kong-org/defi_hackathon https://github.com/kong-org/defi_hackathon