Since ancient times, gold always had actual value attributed to it. All writings from civilizations, including those long gone, have mentioned gold and its valuable attributes.
Gold is, of course, a physical metal.
Unlike fiat currencies, gold cannot be simply printed and duplicated whenever the governments of the world decide they would like some more of it. The problem with gold is, it is in no way an effective currency to use for daily exchanges.
These exchange-traded funds have long been an easy way to add gold to your portfolio without having to store the physical metal. There are no other methods to use gold as a day-to-day currency for transactions.
The Kinesis platform has countless ties to the sector of gold and precious metals. Kinesis partnered with ABX, the Allocated Bullion Exchange, a leader in the gold and also precious metals market. They have various exchanges in several different countries and has an international system for the sale and exchange of gold bullion.
Kinesis is performing with blockchain what ABX made with the internet, supplying all new and also interesting ways to harness the most effective shop of value the world has actually ever seen, gold.
How Kinesis Came to Being
Kinesis has a distinct and grand vision for their system than existing systems in the crypto globe today. There is really no other platform in the blockchain market today that comes close to the full-fledged financial institution that Kinesis provides. Kinesis is led by Chief Executive Officer Thomas Coughlin. In a recent meeting with the monetary and investing program “Crush the Street,” Coughlin defines his background in the precious metals industry, as well as the origins of the Kinesis vision.
Coughlin describes the path that led him to Kinesis that started in 2008 with the financial crisis. At the time, ABX was a leader in merging technology and gold in ways that investors have needed for some time. The natural next step is to merge gold and technology to harness the power of blockchain.
In this interview, Coughlin touches on some of the key differences between the Allocated Bullion Exchange and Kinesis. With banks, for instance, having a man in the middle can cause long backups for your funds. Kinesis has a strong vision for their platform that needed to be completely decentralized for the benefit of all users and to avoid the problems banks cause.
Gold and Blockchain Merger
Kinesis is focused on sound financing. This principle is what has driven Coughlin for a long time. Fiat currencies all over the globe are facing deflationary pressure because of the national financial institutions overprinting funds, hence watering down the value. Because of this, Kinesis determined to use gold and silver as their support properties for their cryptocurrencies, KAU and KAG.
Both of these cryptocurrencies are backed on a one-to-one basis, one gram of gold for each KAU and also 10 grams of silver for each KAG coin. Kinesis takes silver and gold as well as basically puts them on a high-speed rail system which is the blockchain.
Bringing gold onto the blockchain opens it up to many new possibilities that were not present before. Transacting with gold becomes an anonymous process. Utilizing the blockchain, anyone can send payments and transact with Kinesis cryptocurrency, completely anonymous.
With Kinesis, gold can become an instant method of payment anywhere in the world. Kinesis brings back stable value for everyday commerce by bringing gold into this new technology sector and integrating it with cryptocurrencies.
Eliminating Abstract Value
In the interview with Coughlin, a very important point he discussed is the abstract value of not only cryptocurrency but all fiat currencies in general. He explains that most of the volatility in crypto comes from the fact that no one is quite sure what the true value of these cryptocurrencies are. Perhaps, it’s even zero. They are valued according to the confidence in them, and the confidence in the development teams.
A user does not have to trust in the value of the Kinesis tokens, as each token is verifiably backed by gold and silver. As long as these precious metals hold their value, Kinesis tokens will hold their value. Kinesis will outperform major cryptocurrencies by eliminating the abstract value and the volatility.
Why Kinesis Surpass Other Cryptocurrencies
If you are reviewing count, it is safe to presume that even more individuals count on the worth of gold versus the worth of speculative innovation. This is since gold has an ageless value attached to it.
Where the globe has gone through numerous technological advances, gold has actually remained consistent. The commercial change is lengthy past, as is our dependency on heavy steam or coal-based energy, as well as yet gold has maintained worth throughout every one of background. So while we see this experimental technology called cryptocurrency expand, as well as the confidence connected to it, we have to remember that we risk it being outdated, redundant modern technology someday.
This again puts Kinesis in quite an advantageous position. While other crypto currencies have no backing of any kind, Kinesis cryptocurrencies are backed by the best store of value in history, gold. This means Kinesis has the potential to effectively outlast all competitors and be the leader in stablecoins.
Kinesis has proven that precious metals, and all deals on the Kinesis blockchain will certainly be openly available to assessment. Fiat money is experiencing quick depreciation worldwide, with Venezuela bolivars and Turkish lira being archetypes of the catastrophes that can transpire.
Any type of stablecoins backed by fiat currency is subject to deflation with time for this same reason. Kinesis will certainly remain to be a solid alternative to all cryptocurrencies, as well as will be a leader in real life adoption. The Kinesis network will certainly continue to grow, while other blockchains are used less and less. Kinesis will certainly continue to be the remarkable cryptocurrency.