KARATCOIN - The Future Of Gold Crypto Asset

abhijeetcg (52)in #blockchain • 6 years ago

Gold is a very precious metal and indeed an investment tool. From the centuries, gold is considered as a most valuable asset. Investors buy gold to diversify their risks. Gold is a stable asset and due to its limited availability the price of gold increases every year. That's why many investors invest in gold to increase their wealth.

The most traditional way of investing into gold is through bullion gold bars and bullion coins. But they are very risky to store and transfer due to theft issues. That's why gold certificates are issued to investors corresponding to physical gold bars stored in safe locations.

But there are many problems associated with gold, which are:
• It is difficult to determine whether the bonds/certificates are improperly allocated a single gold bar to more than one party
• Whether the gold bars stored in a location or country, there is a possibility of absence
• The purity of gold bars can be forged with other metals and it is difficult to detect easily
• The value of bond changes constantly
• The presence of intermediaries in the market creates unnecessary commissions
• Safe repositories are needed to store gold

In order to solve these problems KARATCOIN is combining centralized and decentralized structures to create a favorable atmosphere for gold trading.

Project Vision

The main vision of KaratCoin project is to create a favorable conditions to increase gold mining operations which ultimately increases gold volumes. Due to this, gold miners enjoy benefits, safe working environment and increased economic productivity. KaratCoin wants to support community and to eliminate any negative impacts arises from mining.

Principle of operation

KaratCoin foundation was established in accordance with UN principles on business and human rights. In order to increase the KaratCoin finances, token value and token circulation, KaratCoin platform is directly linked with the operational gold mines. The gold mines will be selected by KaratCoin's legal and technical team according to the credibility, production capacity, background and financial ratings. All the mined gold will be protected and stored in an authorised vault of KaratCoin.

In order to become a member of KaratCoin foundation, one needs to own KCD tokens. The members of the KaratCoin platform are eligible to vote for their favourite gold mines. The voting mechanism ensures gold mines work responsibly and provide economic benefits to society. The gold mines will work in compliance with social, ethical and economical principles. The process and achievements of gold mining companies, a report will be provided to stakeholders to monitor.

KaratCoin platform also provide decentralized loan facility to members, referred as KaratCoin Loan (KCL). The loan will be granted in 5 tranches and issued through smart contracts. KCL has average 5 years and final 10 years of maturity.

KaratCoin provides highest level of safety and security through decentralization and automated systems. It provides custody for physical bullion bars to be stored in strong vaults with labelled shelves.

KaratCoin provides 3 key products:
• Gold asset certificates
• Gold asset card
• Karat coins

Gold asset certificates are used for fixed revenues. Every gold asset certificates have PoA (Proof Of Asset) information, which is permanently stored into KaratCoin's decentralized blockchain. These certificates provide fixed revenue depending on investments made for specific durations. All the certificates are held in cold storage wallets, provides highest stability and will be valued in gold and dollars.

• 1 year - 5% annual return rate
• 2 years - 5.2% annual return rate
• 3 years - 5 5% annual return rate
• 4 years - 5.75% annual return rate
• 5 years - 6% annual return rate

KaratCoin gold card is a kind of safe wallet powered by KaratCoin blockchain to store coins and gold certificates. Gold asset card refers to allocated asset and all the gold card certificates are stored in cold storage wallets.

KCX coin provide owners, right to vote for all activities happening in KaratCoin blockchain. It can be used for trading. KCD coin is created using Ethereum platform for sale purpose, later in it will get migrated to KaratCoin blockchain. And the KCG coin is purely backed by gold.

KaratCoin has created a special application which provides trading, exchange access and other statistics of the market. KaratCoin uses delegated proof of stake (dPoS) mechanism for efficient, reliable and fast consensus model.

ICO and Token details

• Token Ticker: KCD
• ICO period: 3rd September to 11th November
• Available for sale: 24 million
• Price: 1 KCD = $0.1
• Softcap: $4 million
• Hardcap: $ 24 million

Token & fund distribution

Conclusion

KaratCoin project is providing a best opportunity to invest into most precious metal through blockchain technology. It eliminates every problem associated with traditional gold investment, so that people can make investments into real gold with mind free. It helps to develop authorised gold mining, without affecting social and ethical factors. It is a very promising ICO and will soon reach the hardcap.