After seeing dozens of projects raising the banner "founders" with nothing but a blue interface and some certificates, Kyt brought something different.
The experience that made me believe in their idea:
I was working with a team building a DEX for trading digital stocks, and we faced one fatal problem:
Traditional banks refuse to deal with us because their old systems cannot automatically verify AML/KYC on-chain.
KITE solved the problem in a very clever way:
Instead of forcing banks to change their systems, we let them use their existing systems, and KITE is the one that adapts.
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The point I liked most - technical humility:
The KITE project is not saying "demolish the old system", but rather "let me be the bridge between you and the new world".
The analogy that came to my mind:
· Other projects: like a new taxi company going to the customer and saying "crash your old car and buy our car"
· KITE: like a company that installs a charger for your old car, allowing you to enter the new era without selling your car
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How I operated the system with our team (real experience):
1. Digital footprint (Credential):
Every employee at our company received an encrypted credential from a certified auditor (like Onfido)
2. Smart policies (Smart Policies):
We knew the internal rules of the company:
· Any transaction over $50,000 needs manager approval
· No transactions after 8 PM
· No transfers to countries on the blacklist
3. Automated execution:
Once a programmer tried to send $60,000 after 10 PM, the system stopped it and requested approval. The managers approved remotely, and the transaction was completed.
The difference: no need to log into the system every day to check transactions. The system itself implements our laws.
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The artificial intelligence that truly understands regulation:
In KITE, the AI agent:
1. It doesn't just buy and sell
2. It records every step in a manner acceptable to legal reviewers
3. If an auditor asks you: "Why did you buy these shares?"
You can show a complete record: the time, the reason, the responsible person
And this changes the game for banks, as they are bound by strict regulatory laws.
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The challenges we faced practically:
1. Cost: The system is 30-40% more expensive than regular solutions
2. Complexity: We needed 3 weeks of training for the team
3. Integration: Integrating the system with our accounting programs (like QuickBooks) was difficult
But the benefits:
· We saved 80 hours monthly that were spent on manual review
· We reduced human errors by 95%
· We can now work with large companies that previously refused to deal with us
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The code $KITE - A realistic opinion:
I tried their governance system:
· Positive: Voting on new policies is smooth and fast
· Negative: You need a large amount of KITE to have a real impact
· Strangely: Most votes have no conflict, as the community is more technical than speculative
My advice:
If you want to invest in KITE, think of it as a subscription fee for an integrated system, not as a lottery ticket.
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Comparison with reality:
The traditional banking needs KITE
Compliance is a full team, high costs automatically, on-chain
Speed days for a single transaction minutes
Auditing papers, files, storing costly immutable digital records
Flexibility is hard to modify with one code change
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The risks that no one talks about:
1. Dependence on certificate issuing entities: If a company like Onfido collapses, the whole system is affected
2. Changing laws: If a country changes AML laws overnight, the system needs a quick update
3. Standardization: Each bank has different internal systems, making it hard to create a single system that fits all
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A final word from 6 months of use experience:
KITE is not for everyone:
· ✅ Suitable for you if: you have an organized financial company, or want to deal with institutions
· ❌ Not suitable for you if: you are a sole trader or have a small project
In summary:
You won't see KITE in the headlines because it's an infrastructure project, not a noise project.
But this is exactly what makes it important:
Tall buildings are not visible unless the foundation is strong.
And KITE builds the foundation of the new financial architecture...
Calmly,
Without noise,
And without anyone asking, thank you.
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