Gold-Based Monetary System to Bring Price Stability to Crypto, Preventing Value Decrease  Gold-based monetary system Kinesis aims to bring price stability to the world of cryptocurrency and to prevent the decrease of its value. The company says it has already attracted interest from key players in the gold industry, which is estimated at $6.8 trillion only on London’s gold market (70 percent of the global trading volume).
After the gold standard that once defined the value of currencies was abandoned in the 20th century, the monetary system became dependent on central banking policies. The Kinesis team decided to create its own “efficient, secure and fair monetary system” based on two of the most stable commodities in the world — gold and silver.
“There is [approximately] $15 trillion in gold traded every year, creating exceptional but untapped potential for investment and exchange if gold can be remonetized. Adding a yield to this exchange multiplies this potential exponentially,” says Thomas Coughlin, CEO of Kinesis.
Kinesis offers digital currencies based 1:1 on allocated physical gold (KAU coins) and silver (KAG coins). When users purchase Kinesis currencies, they actually purchase real metal. The ownership of the gold is digitized with blockchain technology, which allows the user to hold or transfer currency from their Kinesis e-Wallet. The Kinesis debit card allows the owner to make the instant conversion of KAU and KAG into fiat currency and spend cryptocurrency all around the world. The company states that, unlike other cryptocurrencies, the transactions through the Kinesis system will take just two to three seconds as a result of their bespoke fork of the Stellar network, which is able to withstand over 3,000 transactions per second. Kinesis believes KAU and KAG currencies could be used in day-to-day purchases like buying a cup of coffee or even buying a car. Besides paying the bills, the Kinesis Monetary System can be used for managing international payments with lower transfer rates offered by banks and other international payment services.
Another option offered by the network is the ability to trade holdings on the Kinesis Blockchain Exchange. The cryptocurrencies can be transferred back to physical gold or silver as the system generates a 0.45 percent fee when these are transferred between the holders, accumulating in a pool to be distributed back to users of the system in the form of a yield.
Kinesis was founded by the Allocated Bullion Exchange (ABX), the world’s first electronic, institutional bullion exchange for physical precious metal. Which gave the new blockchain-based fintech company an exceptional start: extensive infrastructure and a fully operational exchange built for the trade and storage of physical bullion in seven locations around the world. The new — but experienced — startup is able to “bring back a truly decentralized, [digitized] stable asset, based on blockchain technology,” Kinesis says. ITO Launch Kinesis is currently in the public sale phase of their Initial Token Offering (ITO) of its Velocity Token (KVT), which will be the first cryptocurrency made available by the startup’s team. KVT is a utility token and is not backed by a physical asset but rather a whole monetary system.
With KVT, investors can get a share of the transaction fees generated by the system (maximum 20 percent). This income is distributed to holders of 300,000 KVT, and company promises there will be no future dilution.
According to Kinesis, there is a high demand of its first tokens. Kinesis says it raised over $50 million just in their presale period by selling over 55,000 KVT. |
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As promised a little report about Tokyo Game Show... We met with some top notch names of the Japanese gaming industry. That edited games we all played and love, we hope they can become partners in a near future. Superb TGS! We walked the entire floor and spoke to many devs, evangelizing Ultra. Also met one-to-one with prestigious names in the Jap gamining industry, all of whom have shown interest in Ultra. Next stop for Ultra is probably Money 2020 in Las Vegas and more is coming up, stay tuned! |
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We are proud to announce, that we are joining Blockchain Game Alliance among with: Ubisoft, Consensys, Alto, Gimli, Everdreamsoft, B2Expand, Enjin and Fig! Stay tuned for more details. |
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Thank you for sharing, please see Jhonny's comment about this listing  "We wouldn't approach an exchange with a reputation like Yobit's, I personally think the fact that the listing exists is a positive sign, even if I don't think the exchange itself is reputable"Yobit is not a good exchange and it is best not to trade at this exchange because the risk is enormous. I believe that XYO will have more official exchanges and people will update soon. The thing to do now is consider investing now or waiting for a steady price to invest in XYO Please refer to Scott's statement on exchanges. "Our aim/goal is definitely to hit the exchanges before the end of 2018. Do not worry about that. And we will be sprinting to release the core Mainnet component of the network on or before then (meaning November/December) and we are determined to NOT delay those two things (the Mainnet launch -- though it may not technically be called "Mainnet"; essentially "XYO Corenet". And in cohesion with that, exchange listings. Don't want to share anymore though; want to keep the specifics a surprise 🙂" |
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“The future of cryptocurrency may very well rely on the fusion between traditional stable stores of value such as gold and silver to eliminate volatility.” This morning, the second in a series of thought leadership pieces on ICOs, the blockchain and crypto by our CMO Jai Bifulco was published in City AM newspaper — Scroll to page 21 and read the full piece here: http://bit.ly/2xNg3YU |
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Why there are no volume almost? And why they selling new tokens to private investors at cheap price? Most of exchanges burning tokens...
generally very interesting))) how do they sell tokens at a low price? where does this information come from? They selling tokens to some big private investors. And price (in usd) cheaper than was on ICO. Most of ICO have private sale before ICO, but not after. Its probably good that new private investors are coming on board. It means interest in the platform and the project is growing. Also partnerships, sponsor firms etc will all want to hold tokens. There are were 330 mln tokens in circulating and now 473 mln. And they sold tokens at cheaper price than was on ICO. So there is nothing good for investors. Please watch this video, which explains everything about the RKT, the fuel for the GBX ecosystem: https://youtu.be/aRmzmH04H20 |
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What is Geon Network all about?In short: Geon Network is a platform that delivers a brand new class of applications based on geolocation.
We believe there are many industries across the world that will benefit from our innovative approach. One of the greatest opportunities is in communities with low average income and/or limited banking facilities.
Like with other cryptocurrencies, the Geon Network enables value transfer between individuals. READ MORE HERE |
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What is Geon Network all about?In short: Geon Network is a platform that delivers a brand new class of applications based on geolocation.
We believe there are many industries across the world that will benefit from our innovative approach. One of the greatest opportunities is in communities with low average income and/or limited banking facilities.
Like with other cryptocurrencies, the Geon Network enables value transfer between individuals. READ MORE HERE |
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What is Geon Network all about?In short: Geon Network is a platform that delivers a brand new class of applications based on geolocation.
We believe there are many industries across the world that will benefit from our innovative approach. One of the greatest opportunities is in communities with low average income and/or limited banking facilities.
Like with other cryptocurrencies, the Geon Network enables value transfer between individuals. READ MORE HERE |
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We’ve been featured in the Raconteur supplement, found in The Times newspaper today. Read up on the detail of how we’re “…using blockchain technology to reintroduce gold as the currency it once was…”: Read It Here: |
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Dear ROCKers,
The scheduled GBX-DAX upgrade is now complete. You may now log in to use the platform as normal. A lot of effort has been put into this latest upgrade and we hope you like it. Also, the GBX-DAX app is now available to download, on Google Play Store too.
To download click here: https://play.google.com/store/apps/details?id=dax.gbx.exchangeapp
Please remember your comments and feedback are always valued and help us continue the development of our platform.
As always, we thank you for your continued support.
Rock On!
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Nice, when IOS release? For some reason this app isn`t available in my account. Is it available only for certain countries? We have asked if the app was restricted, We will update you when we can. |
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Hi everyone!
Please, have a read the newest September update from the core team. It`s pretty hot in the FortKnoxster kitchen, so more to come 😉 Amazing! Especially this explanation video from the CTO ‘The Identity Proof’ https://www.youtube.com/watch?v=TUw9x_FzkHQIs there any information about the marketing? Nevertheless, it`s an important aspect nowadays As we speak this week all activities/goals will be checked with the tech/marketing departments (3 different countries!) and if we have a thumbs up I will publish it |
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Why there are no volume almost? And why they selling new tokens to private investors at cheap price? Most of exchanges burning tokens...
Hi Gembira, I would like to direct you to this, which explains everything about the RKT, the fuel for the GBX ecosystem: https://youtu.be/aRmzmH04H20. |
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Hi everyone!
Please, have a read the newest September update from the core team. It`s pretty hot in the FortKnoxster kitchen, so more to come 😉 |
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We're in City AM newspaper again today!!!
Read it here: |
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The Momentum Token enables consumers to convert company branded loyalty rewards into Momentum Tokens, which in turn can be exchanged for other reward tokens or crypto-currencies. A platform payment currency - companies running solutions on the Momentum Protocol will pay for it in Momentum Tokens. This is awesome and there Token Sale will start on 4th Quarter. Keep on eye on this project guys.
Let's follow how the development of this project, hopefully, the sales from this project can be run smoothly and hopefully the team strategy will be successful to be able to attract the attention of many investors. Exactly, with the potential it is giving hope to the investors will always show interest towards the project. By the end of the crowd sale, they will gather as many investors as possible in order to reach hard cap. Thanks you for your support |
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On 19th September 2018 at 03:00 UTC, the GBX-DAX will be undergoing a planned upgrade.
The upgrade process will take less than 24 hours, though we will make the system online as soon as the upgrade is completed.
These regular scheduled upgrades are to continue the development and improvement of the exchange and are an integral part of our system maintenance.
This upgrade will include:
* Optimising our sign up process for both Personal and Corporate accounts to make the user experience much more clear and user friendly.
* DAX System Upgrade / what is being updated?
- API 2.0 - We’re releasing a brand new version of our API in this upgrade, which includes REST and Websocket. This will come complete with documentation and user support.
The new API keys will be available to all users holding a minimum balance of US$1,000 in digital assets.
- Transaction Hash - All our DAX users will be able to find their transaction hash of withdrawals in their account going forward.
- Fiat pair decimals - We’re adding additional decimal places to all our fiat pairs.
* Mobile App will be live as soon as the GBX-DAX system upgrade is complete.
You will then be able to find the app on the Google Play Store.
The Apple iOS version is coming soon and we will keep you all updated as soon as it’s released.
* Zero-Fee trading period is coming to an end after the upgrade, however the integration for our GBX FORT Referral Rewards programme will soon be taking place.
This is the starting point for our incredible referral programme that will be going live soon.
RKT holders will also be able to enjoy discounts off the standard trading fees.
Keep your eyes peeled for more information coming soon.
Thanks for your continued support and remember, keep on ROCKing!
The Team
GBX |
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