Don't Miss Out On Karatbars!
Billions of dollars worth of gold and gold derivatives change hands every day in a market worth $2.4 trillion, yet the value of a single gram of gold is relatively stable and somewhat predictable. On the other hand, the entire cryptocurrency space is worth less than $333 billion and prices can fluctuate violently over the course of a few weeks.
Karatgold’s underlying architecture is based on proven cryptocurrency technology and time-tested financial hedging strategies. Unlike certain utility tokens ($BAT and $SC) or cryptocurrencies (ETH or BTC), Karatgold Coin or KBC is a ‘crypto asset’ which means each token is backed by a tangible amount of gold. The underlying gold collateral keeps the value of each KBC stable over the long-term while the blockchain-based technology allows for easy access and faster transactions across borders.
The architect of this elegant solution is German entrepreneur and financial industry veteran Harald Seiz. Seiz launched Karatbars International GmbH in Stuttgart in 2011 and has spent the past few years developing the technology and expanding the platform across the world.
In his book The Future of Money, Seiz discussed the history of money, the evolution of payment methods, as well as the current risks of digital payments and cryptocurrencies. He zeroed in on the volatility of cryptocurrencies and quickly realized that backing tokens with the world’s most secure and decentralized store of value — gold — could unleash the potential of this new economy.
KBC builds on the success of Seiz’s first product, Cashgold, which is a payment system that incorporates small quantities of gold with paper cards for ease of use. These cards can be used to transact in any part of the world. Nearly 480,000 customers from more than 120 countries have bought various denominations of Cashgold over the years.
The blockchain-based KBC is the natural evolution of this successful product. It makes gold accessible, fungible, and digital like never before. Now gold’s value can truly transcend borders and quickly become the global standard for payments again.
KBC is already listed on YoBit and will soon be available on other cryptocurrency exchanges including HitBTC. Currently trading at 1 cent, the value of each token is expected to rapidly accelerate upward as the tokens are backed with physical quantities of gold.
Once complete, the token will offer investors and traders the best of both worlds, opening the doors to a crypto token that is a perfectly legitimate form of payment in all parts of the world, has a robust international market for price determination, and circumvents the traditional banking and government systems.
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