Kinesis: Cryptocurrencies backed by gold or silver?
Kinesis introduction video. Source
This article will be divided into:
- Introduction
- What is Kinesis
- Kinesis Monetary System
- Yield System
- Kinesis Velocity Token(KVT) ITO
- Partnering with ABX
- How would Kinesis benefit me?
- Conclusion
1. Introduction
As I mentioned earlier, this could become a problem even for security reasons, for example, if we store these tangible and precious materials in places like our home, we run the risk that they may be stolen, damaged, etc, this would cause our materials to lose even their full value, we do not want that, right?
In this article I will tell you how Kinesis can solve this problem and many more, and you can also learn more about Blockchain technology. All this information will NOT be technical so that any type of public can interpret it without any problem.
2. What is Kinesis?
According to https://kinesis.money/en/, Kinesis is:
A globally accessible, usable and reliable digital currency forming the basis of a new Monetary System. Source
Well, that's not good enough, so, let's talk more deeply.
Kinesis is a Blockchain that seeks to create an economy based on real and honest money thanks to gold and silver, Kinesis will have two coins called KAU and KAG, these coins will have a 1:1 ratio with gold and silver, for example:
Each KAU equals: 1 gram of gold
Each KAG equals: 10 grams of silver
This means that the coins will be fully backed by this two materials: gold and silver.
3. Kinesis Monetary System
Screenshot taken by me. Source
Kinesis is divided into a system called the Kinesis Monetary System, this system is a full-circle monetary system that allows all the elements and functions of the system to form a successful and effective monetary system, there are different types of functions, therefore, these functions become different business units within the group.
Screenshot taken by me. Source
I'll talk about 3 units of this system:
- Kinesis Currency Exchange (KCX)
- Kinesis Blockchain Network (KBN)
- Kinesis Blockchain Exchange (KBE)
Kinesis Currency Exchange(KCX)
The KCX functions as the wholesale market where the currency will be created and minted, in other words, this will be the main market where the coins will be created. All this will occur in a centralized exchange with deep liquidity and connectivity to global wholesale trading organizations through Allocated Bullion Exchange (ABX).
Kinesis Blockchain Network(KBN)
Like all crypto-currency, Kinesis has its own blockchain called KBN. All kinesis cryptocurrencies can be spent, sent, saved or exchanged through the blockchain.
Kinesis Blockchain Exchange(KBE)
Kinesis also has a KBE that functions as a digital currency exchange blockchain where you can exchange Kinesis and other digital currencies. This function is being carried out internally to ensure high liquidity for Kinesis coins.
3.1 Kinesis allows:
SECURITY: Using Blockchain technology which is VERY cryptographically secure, ensures that your funds are always safe.
EFFICIENCY: Thanks to Stellar Blockchain, Kinesis uses it to allow over 3000 transactions and confirmations per second, If we compare that to Bitcoin, the difference would be completely immense.
REWARD: It also offers a unique, multifaceted yield system that provides passive and active rewards for everyone involved, you could practically generate rewards for any type of participation in the network.
4. Yield System
This is one of the things that can make the Kinesis project totally unique: The Yield System.
Screenshot taken by me. Source
Kinesis offers a Yield System that will vary depending on the degrees of active or passive participation. This system can be divided into four types of yield: Minter Yield, Depositors Yield, Holder Yield and Recruiter Yield. These types have different ways of generating yields.
Minter Yield
Screenshot taken by me. Source
Minters receive a 5% share of all the transaction fees on coins they have created and used, this whole process is carried out by converting a fiat currency or gold/silver bullion into KAU and KAG currencies. It should be noted that this whole process takes place in the Kinesis Primary Market.
Depositors Yield
Screenshot taken by me. Source
Depositors also receive a 5% share in their first deposit and also have the possibility of receiving a 5% share for the use of the Kinesis coins in their Kinesis wallet.
Holder Yield
Screenshot taken by me. Source
The holders are also not left behind, likewise the holders receive a 15% share of the transaction commissions generated while holding the currencies, this is calculated on a daily basis and will be credited to they e-Wallets on a monthly basis.
Recruiter Yield
Last (but not least) are the recruiter yield. Recruiter yield is simply based on rewarding individuals or corporations that recruit new users to Kinesis.
5. Kinesis Velocity Token(KVT) ITO
Kinesis also has an ITO(ITO is an Initial Token Offering), in this ITO the Kinesis project is offering a number of 300,000 tokens called Kinesis Velocity Token (KVT). This token will reward participants with a value proportional to the growth of the Kinesis Monetary System. Participants will receive 20% commission on each transaction made with the Kinesis Monetary System.
Some features of the KVT are:
Limited Supply
This means that the number of KVTs being sold in this ITO is very limited, with only 300,000 KVTs, the first investors will receive a greater discount when purchasing KVT tokens.
Lifetime Rewards
KVT holders will receive a 20% share of the commissions generated in the Kinesis Commercial Center for as long as the token remains on the network.
Transaction Fee Pool
KVT holders also receive a 20% share for all transactions generated by the Kinesis currency on an infinite basis.
6. Partnering with ABX
For this paragraph, I will use the copy+paste of a fragment of the Kinesis whitepaper:
Kinesis and the Kinesis Monetary System has been developed in partnership with public company; Allocated Bullion Exchange (ABX) www.abx. com, the world’s leading electronic institutional exchange for allocated, physical precious metals has been in operation since 2013, has seven trading, pricing and vaulting hubs across the globe and has recently partnered with Deutsche Borse Group entity European Commodity Clearing (ECC) for clearing and settlement services. Source
With this partnership, Kinesis makes its formidable monetary system backed by a global exchange that has been operating since 2013, ABX has the confidence of many brokers and traders around the world.
7. How would Kinesis benefit me? What are the differences between the other cryptocurrencies?
Screenshot taken by me. Source
Suppose at some point in your life you want to invest in gold or silver, this, as we discussed in the introduction, could become a problem if we do not take care of these materials. Kinesis offers to invest in these materials with the possibility of not having to carry the burden of having to store them in places where we could even pay money.
So, if I buy 10 KAU legally (and theoretically) I will have 10 grams of gold (as long as we keep in mind that each KAU is equivalent to 1 gram of gold), remember that you will have in your hands the legal ownership of the bullion that you own.
Zero volatility
Because Kinesis will be backed by gold or silver, the volatility between the prices of these assets will be completely nil, as the price changes of these materials are much lower than those experienced by other cryptocurrencies. This also helps us if our goal has always been to save our money.
Also, in countries like Venezuela, investing in these materials is very complex due to the regulations of that country.
8. Conclusion
OTC markets are currently obsolete, it is necessary to use physical methods to be part of this type of market and there are also complications such as limited resources or even not being able to have the money to participate in them because, for the most part, they are expensive. Kinesis offers you the possibility of being part of the bullion market thanks to its sophisticated monetary system and the way in which it backs its KAU and KAG coins under these materials assure you that your coins will have the value of these materials and, also with the legal ownership you will have you can know with certainty that you are the owner of the materials as well.
9. Resources
kinesis2018
This article is a participation for a competition organized by Originalworks: https://steemit.com/crypto/@originalworks/980-steem-sponsored-writing-contest-kinesis
No. OTC markets are not obsolete.
What do you want, a lower price or a lower minimum required amount? Those are private markets, which is the way it should be.
What Kinesis is going to offer is already a product: Digix. What is really needed is a future or option over the good price, not a way to sell the good which those companies are storing.
Good post. Not upvoting as it looks to me too promotional.
Posted using Partiko Android
What I mean is that Kinesis offers a greater possibility and also an easier and simpler way to participate in this type of market without the need to make life so complicated.
I made the differences between OTC and Kinesis markets a little clear in this post and based myself on that to say that OTC markets are (or will be) obsolete because projects like Kinesis offers a much more open and available investment method for most people.
This post has been submitted for the @OriginalWorks Sponsored Writing Contest!
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Oh, "spanish" is tagged as principal tag, my mistake:(
Thanks for sharing!
.. ownership you will have you can know with certainty that you are the owner of the materials as well."
What does this really mean? How can I get hold of it if I need it?