Blockchain has recently shown its interest in a gold industry with extremely complex ecosystems heavily relying on supply chains, with cargo passing through various locations before arriving at the final destination, while the mere confirmation of the money transaction taking several days. However, until now, just a few have managed to move from theory to practice and introduce the blockchain technology into the gold industry. The advent of the KaratGold Coin (KBC) combining the advantages of a physical asset (gold) and crypto has changed the situation dramatically.
It is an Ethereum-based asset exchangeable for real gold. Essentially, it is a tokenized gold, the idea of which was put across by Dr. h.c. Harald Seiz, a German entrepreneur, founder, and owner of several companies, author of books and founder of Karatbars International, based in Stuttgart, Germany. Harald Seiz aimed to create a coin easily convertible to gold and featuring the properties of a full-fledged instrument.
Before initiating the token emission, the company saw to provide the infrastructure necessary for its distribution and functioning. To allow easy acceptance of KBC, Bitcoin, or Ether by online vendors, KaratGold came up with K-Merchant, namely a piece of software enabling the vendors to accept crypto payments with a simple scan. The retailer / online shop simply has to install the payment system and accept crypto payments.
K-Merchant can, of course, be integrated into the most popular online shop systems such as Magento, Shopify or Prestashop. For the retailer, the advantages are obvious: the payment reaches his account immediately, the crypto currency KBC has no price fluctuation and is stable in value, the vendor can control the income of several cash registers at different locations via one K-Merchant account, all payments are easy to track and manage, the services can also be used by industries and persons in high-risk environments, since all payments are fail-safe by design.
The Karatbars is about to run Gold Independence Days campaign starting 4th July 2019, where investors will be able to exchange 100 KBC tokens directly to 1g of pure gold, making the first digital currency convertible to a precious asset. In essence, this exchange possibility will enable users to quickly receive real gold in the form of CashGold at Karatbars` ATMs.
Check out their website for more details.
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