The cryptocurrency market is about to be doused in a new generation of stablecoins. For years now, most crypto investors have been dependent upon Tether USDT – the dollar-pegged cryptocurrency embroiled in a fraud suit courtesy of the New York Attorney General. While Tether has long been popular, its issues have been commonly known for most of its existence. Tether claimed to be backed by a reserve of US dollars, 1 for 1 for every USDT available in the market. It’s now almost universally accepted that Tether doesn’t have 100% backing. What does this mean for the stablecoin marketplace?
Clearly, tons of other stablecoins are jumping into the breach, trying to take over where Tether left off. Not every stablecoin has the same solution to price stability as Tether (having a reserve for all coins issued). However, reserve backing is still an attractive feature to many investors. Because Tether never submitted to audit to prove it had this backing, our interest has been piqued by another cryptocurrency that may have the most convincing claim at 100% audit.
KaratGold Coin (KBC) is a coin linked to physical gold. This isn’t a unique feature in itself, but the company backing KaratGold Coin is a differentiator. KaratGold Coin KBC was introduced to the crypto trading markets in February 2018 by Karatbars International. Karatbars is the creation of Dr. Harald Seiz, and they’ve been in the gold business since 2011, selling small quantities of gold to investors all around the world.
Beginning July 4, 2019, people can exchange KBC tokens directly to pure gold, making it the first digital currency that is actually convertible to a truly valuable asset. This exchange will be made possible as part of a global Karatbars International’s promotion campaign, the Gold Independence Days, so that users can easily receive real gold in the form of CashGold, banknotes inset with tiny gold bars, at Karatbars’ own ATMs. . A common criticism of gold-linked cryptocurrency is that storage and transport of gold is difficult, hazardous, and costly, but Karatbars International has exactly the experience one would hope for in a company offering this service. The company also has its hand in the new IMpulse K1 phone, a blockchain-driven smartphone fueled by KBC. IMpulse K1 Phone is a KaratGold Coin-fuelled blockchain-based mobile phone featuring loads of cutting-edge solutions.
Voice Over Blockchain Protocol (VOBP) – one of the main features of K1 – allows users to communicate fully encrypted. All data – documents, invoices, text and voice messages – are sent peer-to-peer and end-to-end enciphered, thereby minimizing third-party intervention. With IPFS platform data are getting saved and encrypted through decentralized storage based on the blockchain technology. As a result, there’s no need to worry about third parties monitoring your actions, as the peer-to-peer encryption cannot be hacked or manipulated.
Decentralized services allow the user to store and spend both fiat and cryptocurrency through several customizable wallets. You can create wallets for automatic payments or family purchases, with access for each member, that is why the device can serve several users.
Whether or not you would choose to trade in your KBC for gold, there are other interesting features that make KaratGold Coin an interesting prospect. As a cryptocurrency linked to gold, KBC will almost surely be more price-stable than most of the altcoins. It also allows the holder to own gold remotely, without having to safely store it within their own property. Finally, through the K-Merchant app, holders will also be able to spend gold remotely. To allow online vendors to easily accept KBC, Bitcoin or Ether in their online store, Karatbars International – the company behind the idea of KBC – came up with a software that enables retailers to accept crypto payments with a simple scan. The official plugin of K-merchant can be currently integrated into Woocommerce, Magento and PrestaShop powered online shops and enables one-click-payments with military-grade security.
KBC acts as the unit of exchange, but the gold held in reserve by Karatbars is the value that’s really changing hands.
At the end of the day, KaratGold Coin may be the best of both worlds – a stablecoin backed by a verifiable service and product portfolio and the world’s most convenient way to buy, own, and spend gold.
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