KaratGold Coin (KBC) is the Real Digital Gold

KaratGold Coin (KBC) is the Real Digital Gold

How many times has Bitcoin been called “Digital Gold” over the years? It was never a perfect analogy. Sure, Bitcoin is like gold in that it exists in finite supply and has to be brought into the market through the efforts of miners (a threadbare metaphor if ever there was one), Bitcoin is otherwise very dissimilar to gold. Gold is a physical object that can be made into products, stolen by thieves, and purified through effort. Bitcoin is a digital good that’s totally immune to alterations. If we get past Bitcoin’s elevator pitch, it really isn’t much like gold at all.

The cryptocurrency most similar to gold is one that’s comparatively unfamiliar. KaratGold Coin (KBC) is considered a stablecoin that is linked to gold. This is not a totally unique characteristic in itself. However, unlike the other gold-linked cryptos, KaratGold Coin is 100% exchangeable for CashGold (gold inset inside banknotes). This option unlocks on July 4, 2019, as part of Karatbars International’s marketing campaign (Gold Independence Days) but when that day comes, KaratGold KBC and physical gold become two sides of the same coin.

KaratGold Coin is a new product from Karatbars International. Karatbars specializes in gold products that are meant to be used as money. While Karatbars will certainly sell you gold bullion for your hoard, they’re much more interested in supplying gold products for your wallet. Their CashGold products are physical currency notes, with tiny thin gold bars set within. These notes can be stored in a billfold or wallet, just like Dollars or Euros. They’re meant for everyday spending (provided you’re able to find someone willing to haggle).

Until KaratGold Coin came along, these products were pretty much impossible to use for spending online. This was always going to be a barrier to adoption, as many hundreds of billions of dollars are spend online each year, and brick and mortar retailers (presumably the ones most able to accept gold notes) are feeling the pinch.

To meet the needs of the online market, Karatbars International entered the blockchain space. KaratGold Coin was their successful $100 million ICO held in February 2018. The introduction of the K-Merchant application made it possible for holders to spend their new KaratGold Coin on products sold all around the internet. 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.

Starting July 4 of this year, this KBC will be fully exchangeable for the physical gold that backs it. This feature closes the loop between digital and physical gold, and makes KBC the first gold-linked digital asset that lets users take part in the physical side of the industry. KBC will also be the native currency of the IMpulse K1 Phone, a blockchain phone for the forward thinking users of this remarkable industry that encrypts and broadcasts calls and text messages by a newly created Voice Over Blockchain Protocol (VOBP).

And while some have voiced suspicion about the storage, security, and gold transportation part of the deal, Karatbars International is perhaps the most qualified company to handle this side of the business, of any gold company yet involved in the crypto space. Before they got involved in blockchain, Karatbars had been shipping gold all over the world for years. KaratGold Coin just gives them a new way to reach new customers. It does not fundamentally change the business model that has given them so much success.

Consider KaratGold Coin KBC for your crypto portfolio. For portfolio stability and access to physical markets, KBC may be the best cryptocurrency you can own.

Publication date: 
05/21/2019 - 09:30

The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.