News and Announcements
Kinesis Monetary System using blockchain technology to reintroduce gold as a medium of exchange
- Published October 03, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Kinesis Monetary System to bring stability to cryptocurrency market by using precious metals.
- Kinesis will lead the way in blockchain technology by offering an alternative currency.
- Gold and Silver can be used to allow people to instantly send value around the world.
Kinesis Monetary System are hoping to bring stability to the cryptocurrency market, using blockchain technology and precious metals to create an alternative currency.
While digital currencies allow people to use nontraditional methods of banking, fluctuations in value often limit their use.
Kinesis is taking the lead in using blockchain technology and gold to create a more stable currency.
Kinesis Monetary System was founded by the Allocated Bullion Exchange (ABX) in 2011. This marketplace was set up specifically for the trade of precious metals.
Kinesis saw a gap in the market to combine gold with digital currency to create a medium of monetary exchange.
They have set up a multi-faceted yield system that remits the 0.45 per cent it takes on each transaction back out to the network based on how they’ve participated.
Gold can be deposited into the Kinesis Vault Network, converted into a Kinesis currency and sent, spent or transacted.
Kinesis have gone the extra mile and designed a ‘Kinesis debit card’ which allows instant conversion of Kinesis currencies into fiat currencies anywhere in the world.
Kinesis’s goal is to create ‘transaction velocity and trade volume.’
About Kinesis Monetary System
The vision for Kinesis is to deliver an evolutionary step beyond any monetary system available today. This is achieved by basing the Kinesis currencies 1:1 on allocated physical gold and silver. Use is incentivised by attaching a unique yield system to the Kinesis currencies and distributing back the wealth generated according to proportionate currency holdings and velocity.
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