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MAR 02, 2018

Company To Link Gold Trade Payment Methods With Cryptocurrency Techniques

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Company To Link Gold Trade Payment Methods With Cryptocurrency Techniques

KaratBank is creating a new Blockchain-based cryptocurrency based on the ancient legacy of gold. Whilst not readily used in trading today, gold has traditionally been viewed as a safe and secure investment. Combining this historical method with the most modern, cryptocurrency, may not seem like a likely partnership. However, a new company is doing just that.

KaratBank claim that they take the advantages of gold trading and apply it to cryptocurrency. They highlight that gold is a trusted means of investment worldwide, is limited in quantity (which can push up value) and is also stable in price. By linking each of their KaratBank Coins (KBC) to a physical weight of deposited gold (in the form of CashGold – 24 carat gold embedded on a bank note), each token has a stable, trusted value.

KaratBank Coins are based on the Ethereum Blockchain protocol allowing for use of smart contracts. The team describe the coins as ‘the foundation of a strategy to promote the development, infrastructure and distribution of a safer, more trustworthy payment means.’ KBC is linked to KaratPay, an online payment platform.

Their whitepaper describes KaratBank’s end goal as ‘The KaratBank Coin is designed to be used as a generally accepted electronic payment means for all who consider gold as a traditional, true, secure and value-stable medium.’ There are many advantages to KBC listed:its links to reliable 24 carat gold prices; the ability to exchange for CashGold at any time; real-time exchanges from any location at any time; the ability to use other popular crypto such as Bitcoin to purchase KBC; free and borderless transfers; and the low service charges for using KaratBank. These advantages have not gone unnoticed, as KBC payments steadily become more and more accepted around the world for transactions.

Reassuringly, KaratBank are in cooperation with Karatbars GmbH, (who already have an established community of nearly 500,000 users worldwide who have collectively invested $120 million), meaning that the growing number of companies worldwide accepting Karatbars as payment will also do so with KaratBank Coin.

The pre-ICO has already begun and will continue until March 21, with the main ICO beginning March 22 (1 KBC = $0.05). By April 18, the team aim to have KaratBank Coin listed on one major exchange. By 2020, they hope to have 2 percent market penetration, and market capitalization at $500 million.

For a start, KaratBank CEO Harald Seiz has forty years of experience in financial consultancy. He is also founder and managing director of Karatbars International GmbH, bringing his extensive knowledge of the relationship between gold and cryptocurrencies to KaratBank. His expertise has been recognized by the Federal Association for Economic Development and Foreign Trade, who have awarded him a Senatorial Degree.

The rest of the management team also have extensive management credentials from various financial companies across Germany, and the advisory staff boast experience from Karatbar operations in Dubai to the UK.

The knowledgeable team and proven success record with Karatbars indicates an exciting time for this company, and possibly a revolutionary new way of currency investment by marrying traditional investment methods with new innovations.

Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.

What does this mean to you? Maybe it’s time you gave this a closer look. Or you can continue to read about it in the news. http://therealmoney.online/earlhackett323/

Earl E. Hackett

Hackett Global Marketing

Writer, blogger author

Author: hackettglobalmarketing14

I'm a two time military veteran (Air Force & US Army). I started blogging to keep my mind active after 40+ years of work. I joined the Air Force to escape the auto assembly line in Detroit. I went to Libya North Africa where Col. Muammar Graddafi was forcing the closure of the base there. The base commander, Col. Daniel "Chappie" James kept a lid on the situation. I was later commissioned in the Army, and "Chappie" became the first African American Four Star General for the Air Force. Blogging just opened up the flood gates. Standing in the Shadows, Listening to the Greats!!! will be my blog novel. If you don't write your story who will?

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