KINESIS : MOVING ASSET BACKED MONETARY SYSTEM TO A NEW DIMENSION
An article on kinesisa new blockchain platform to solve the problems of asset backed monetary systems.
1.0 INTRODUCTION
In 2009, when the blockchain was introduced to solve the world economic problems of distrust exhibited by traders, individuals and firms now had a more secure , fast, and ingenious way of transacting businesses. Digital storages and wallets, cryptocurrency that couldn't be influenced by governments were all the upsides to blockchain. This technology so captivating still had its flaws. The issue of volatility was a major concern. Government wanted to institutionalize the blockchain technology but their regulations lack the proprietary tools to achieve this institutionalisation. Investors became skeptical about joining the blockchain because they were unsure of the security of their funds.
To combat the problem of volatility on the blockchain, kinesis, would specifically provide a decentralized, asset-backed monetary system that combines the old way of storing money and the new blockchain technology to offer an efficient, secure and fair commercial exchange.
kinesis Vision
To deliver a monetary system that will enhance money as a store of value and a medium of exchange through users' participation.
kinesis Mission
To provide a monetary system that will incentivize participation on the platform and offer the world a solution to the problem of unsound and unreliable money.
kinesis Monetary System
The heart of the monetary system of kinesis is the perpetual incentive and stimulus for money velocity. There is a 1:1 direct allocated asset of either gold or silver which when attached to the yield system, promotes exchange and fairly shares its wealth generated to users in the ecosystem.
KAU and KAG :
The currency on kinesis that would be used for commercial and private is backed with physical gold (KAU) or silver(KAG) on a 1:1 basis. These currencies are used because they have a stable store of value.
Yields
Unlike traditional systems , the yields on kinesis will be based purely on the system's economic activities and not credit driven.
Blockchain
Blockchain has a commendable level of security that is levereage by kinesis to reinforce gold and silver as a store of value. The purpose is to provide a means for digital transactions using gold o silver.
kinesis would be developing a currency suite with allocated title of bullion, bank notes, cryptocurrencies that would be secured digitally and physically on their banking and asset management system.
kinesis Marketing Strategy
The target market of kinesis are those currently experiencing low yields. They include:
- cryptocurrency market
- gold and silver market
- fiat currency market
- investment assets
The kinesis system offers stability, less risk,security and greater returns than to its users. Banks in traditional system of trade hold legal title to their customer's asset and can use these assets as they will to enrich themselves. Kinesis allocates the title directly to participants of their system.
To ensure smooth operations in handling exchanges, kinesis would be partnering with [Allocated Bullion Exchange ABX, a formidable force on the world of electronic exchange of precious metals.
The ABX contribution
ABX provides a true global physical bullion marketplace that is both scalable and efficient.
This scalability and versatility, combined with the price discovery mechanism the ABX has will help kinesis attend to the needs of marketers of bullions on a regional scale.
Management and Online Broking Industry benefits
Since Kinesis will be leveraging the ABX platform, they are now able to offer an end-to-end physical precious metals trading and investment solution to their clients without the need for direct investment in technology development,
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kinesis Design
The kinesis system is designed to address the present volatility issue faced by the blockchain and cryptocurrency. The design will target key areas that the blockchain have been finding difficult to cope with.
Fiat
Fiat currency since its inception have always experienced devaluation. Banks and governments try to manipulate the economy to keep it running thus causing inflations and hyperinflation. Debts are being accrued by government which is causing a decline in GDP. Considering the shortcomings of central financial system that would probably be run by selfish individuals, it is little wonder why kinesis is here.
Asset Backed Currency
Kinesis offers rewards to participants for spending or transacting with valuable currency on the kinesis system as against hoarding it. This eliminates the whole concept of "bad money drives away good."
Bank deposits and stock dividends may seem appealing to traders at first glance rather than precious metals such as gold and silver because of the cost of holding the gold and silver. As a participant on kinesis, whether the currency is used for transaction by you (active) or just lays there in the system (passive) , kinesis still rewards you.
Bullion
Provide entry points for small scale businesses to conveniently list their assets for exchange opportunities.
kinesis ITO and ICO
Initial Token Offering (ITO)
The kinesis velocity token (KVT) is an ERC20 compatible utility token. It serves as a means of of raising capital for the system and also as benefits to participants (token holders). Holders will be credited with fractions of summed up transaction fees within the system.
20% of all transactions and 20% of all commissions from the kinesis commercial center (KCC). Pre-sale commences Sept 10,2018 and ends November 11th,2018.
Initial Coin Offering (ICO)
The first currencies are KAU and KAG which would be the medium through which all transactions will occur on the kinesis system.
ICO begins November 12th.
kinesis Featured Components.
[1] kinesis Currency Exchange (KCX): This is a wholesale market where the currency is created and minted.
[2]kinesis Blockchain Network (KBN): This is the technology upon which the kinesis system will be built. All transactions (sending, spending,saving) will be done through this network.
[3] kinesis Blockchain Exchange (KBE): An exchange platform where kinesis can interact with other cryptocurrency.
[4] kinesis Financial Network (KFN): A mobile banking system that offers users a means of saving , paying, and any other money movement. The system also supports MasterCard and Visa card which would facilitate accessibility across the world.
[5] kinesis Commercial Center (KCC): An online aggregation of platform goods and services which accepts the KAU and KAG as a means of payment.
kinesis Currency Suite
The kinesis currency suite will be leveraging the fast transaction speeds and security from the Stellar blockchain to enable it add a range of unique functionality to their ecosystem.
Other products to be integrate include:
- physical gold and silver
- segregated gold and silver
- Bank notes (EUR,GBF,CHF)
- Digital currencies
kinesis Velocity Based Yield System
Velocity on kinesis means the rate at which money change hands on the system. And this would be the basis upon which users will be rewarded on the platform. The yield will be based purely on on economic output of trade activities rather than debt oriented like the traditional systems.
The more the transactions the more the rewards and this is a great way of ensuring that participants transact on the system. Users who seek a less volatile currency can convert to kinesis.
The kinesis Economy and Participants
Minters Yield: participants who create (mint) the currency and transact with them on the system will be rewarded on proportion to coins created, transacted or the rate at which transactions take place.
Minters make purchase using the KCX and sell it on KBN. The currency is purchased and it appears on the minters wallet. The yield is credited to the wallet once the coin is used in transaction via the kinesis wallet.Depositors: Rewards will be given to users on their first deposits. The larger the initial deposit the more the rewards. Theses depositors also share from the yield gotten from coins bought and traded. This reward is applicable to all forms of currency.
Holder Yield: holders on kinesis enjoy the benefit from economic activities on the system while their moneys are held in circulation. The yields will be calculated daily and credited to the participants on a monthly basis.
Affiliate Yield: rewarding participants for bringing new members to system.
Team
My animation
For more information you can visit:
- kinesis website
- kinesis whitepaper
- kinesis onepager
- kinesis Youtube
- kinesis linkedIn
- kinesis Telegram
- kinesis Guthub
- kinesis Steemit
- kinesis Medium
- kinesis Twitter
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