Karatcoin - Gold on the Blockchain

It is no longer news that the blockchain is questioning the status quo and reinventing daily transactions; making life easier for its teeming users. Recently, there had been moves to edge out of the decentralized housing and find feet in fiat environments where multiple use cases abound.

As it stands, gold remains one of the most viable assets in the world. However, only 2 out of every hundreds have some in their possession. The question then becomes, “why is this so?” Gold has same market value as Bitcoin; getting one is hard and the few in one’s possession is worth thousands of dollars. Hence, gold cannot be easily gotten.

But do you have gold? Have you been able to trade the certificate without meeting some restriction? There are times when such becomes issues and these are what Karatcoin tends to solve.

Introducing Karatcoin:
What we have here is another blockchain project that had just entered the stream of the decentralized world. It is common knowledge that gold is measured in Karat; hence, giving birth to the project “Karatcoin”. But what is Karatcoin?

The project is specifically targeted at gold dissemination. As cited earlier, being in possession of gold is no mean task. Thus, the blockchain will be used as finest tool in reshaping the fragmented and make the commodity (gold) accessible to all.

Does Gold have issues?
For this project to come on board, it is obvious that there are issues that need to be solved. Above all, it’s high time the industry got decentralized with the blockchain technology. Karatcoin is intent on repositioning the industry with the use of the blockchain and will solve some of the issues therein.

There has been decrease in its market value and this is coupled by the fact that scarcity looms in the industry. For instance, there has been continuous demand for the product (gold); leaving gold mines with much work to do. The end result had been low throughput in the production; leaving the market starved and demands rising.

There has been erroneous belief that gold should be hoarded (just as some crypto coins are) and only traded when the price had shot up. However, this is not entirely promising for the market and there is tendency that parties involved in the trade might pull out without notice.

These are some of the issues holding down the industry and as it stands, there have been little demand for gold because many have taken away their interests and pitched tents with other viable assets such as cryptocurrencies. Hence, Karatcoin is set to bring back the lost glory and in furtherance, place the asset on the blockchain for better efficiency and visibility.

What’s the Solution?
Aside the blockchain, there are other solutions touted by the project as milestones to returning gold to the path of hitherto lost glory. In the light of decreased market value, Karatcoin is using smart contracts for redistribution of resources. For the asset (gold), reduced market value will be avoided as inability to meet set targets will see investors having back their funds and await better time to trade.

Automation is also at its best as there will be efficiency in matching orders. Furthermore, there will be safe-keeping of users’ assets. This is in consonance with what a bank does. On the Karatcoin ecosystem, the storage will be in form of a vault with bullion gold bars stretched out. This is typical replica of how gold is stored in reality.

Have you often wondered why you’re yet to come across gold and might not actually have contact with one for a long time? It all boils down to the production line. Apart from many orders that keep gold miners on their feet, there are also instances where funds constitute the major downside.

Karatcoin does away with these by funding gold mines. This is not fiat; the platform had already forged alliance with several gold mines. This gives it leverage to be part of the production process and offering helping hand (such as funding) when need be.

Technology:
Hinged on the EOS blockchain, Karatcoin is leaving no stone unturned in bid to provide faster transactions. At its core is intent to facilitate transaction under 10 seconds. It will be working on the premise of peer transactions and this will be under the effective protocol – Bancor. The protocol will not only stop at helping the platform’s increment but will also allow users interact among themselves without intermediaries.

Products:
If you have been wondering how gold will be mapped unto the blockchain without kickbacks from quarters, it is pertinent to note that Karatcoin is free from external influence. For instance, it is fully backed by some existing gold bullions. Interestingly, this is one out of many projects that are backed by real assets; in this case, gold. What this means is that making entrance to reality will be seamless when compared to other projects that are still under the tutelage of the blockchain.

Asset Verification:
There are multiple aspects but it will suffice to state herein that security is at its best. There is a Proof of Asset protocol; one that will see to the verification of users’ assets. With this, you needn’t lose sleep over your assets as there are multiple ways to be in full control of your gold asset certifications.

These certificates come with serial numbers and there are also other verification forms from the issuer such as bar serial number and SKU.

Roadmap

Token Distribution
Crowd-sales: 37%
Foundation: 33%
Team and Advisors: 30%

Token Sales Information:
Token Name: Karatcoin DAO Token
Ticker: KCD
Token Supply: 100 million KCD
Platform: Ethereum
Token Standard: ERC-20
Token Type: Utility Token
Soft Cap: $3 million USD
Hard Cap: $25 million USD
Exchange Rate: 1 KCD= $0.1 USD
Accepted Payments: BCH, USD, ETH, DASH, BTC, XMR, GBP
Country of Registration: The United Kingdom

The Team

Final Words:
In a world where the blockchain is struggling to find foothold, a platform such as Karatcoin assures assets that can be easily traced. Hence, spending one’s crypto coins won’t be much problem as you can choose to trade for gold bars on the platform. On the other hand, the platform allows you trade gold assets without hassles.

To get more information and updates on Karatcoin, visit the links below :
Website : https://karatcoin.co
Whitepaper : https://karatcoin.co/#whitepaper
Telegram :https://t.me/KaratcoinGroup
Bitcointalk ANN thread : https://bitcointalk.org/index.php?topic=4932340
Twitter : https://twitter.com/karatcoins
Facebook : https://m.facebook.com/karatcoin.co/

Writer's information :
Bitcointalk username : deodivine1
Bitcointalk profile : https://bitcointalk.org/index.php?action=profile;u=1390292