The evolution of the gold standard-KINESIS

jenifer2 (46)in #crypto • 6 years ago (edited)

Ever since the evolution of the blockchain industry and cryptocurrencies, people who have dared to venture into it, have benefitted maximally, owning to the unique characteristics of the blockchain industry and cryptocurrency which has granted participants, more power over the control of their finances and traditional assets due to the introduction of digital assets.

However, irrespective of this wonderful innovation this concept brings, its limitations cannot be ignored. One of such is the volatility in the price of cryptocurrencies: the fluctuation in the prices of cryptocurrencies has discouraged investors or traders in adopting them as reserve currencies or means of exchange.

This limitation has caused these investors to lean back to the banks and other financial institutions that are known as store houses for traditional assets.
These banks and financial institutions hold legal titles to these traditional assets belonging to their clients, and in turn amass wealth for themselves from the proceeds of trading or investing with these assets, giving back little or no return to the owners.

KINESIS DIGITAL CURRENCY

Physical Gold and Silver Kinesis' primary currencies, KAU and KAG are backed 1:1 with allocated physical gold and silver two of the greatest stable and definable stores of value for use in trade and investment Allocated means that full direct title to the buillion The Kinesis debit card allows for instant conversion backing the KAU and KAG coins is held by the owner of the respective coin of KAU and KAG into fhat currency anywhere in the world where Viesa Mastercard is accepted, even allowing Kinesis currency holders to withdraw funds at an ATM.

Bespoke Blockchain Technology The Kinesis Money team has developed a proprietary blockchain network forked off the Stellar blockchain for the Künesis currency suite. The Kinesis Blockchain Network provides very high transaction speeds, coupled with customisable percentage-based transaction fees, which has created optimal conditions for the Kinesis currency This allows for the high velocity required in the Kinesis currencies core to the Kinesis model
The Kinesis Monetary Sysem attaches a yield to physical gold and silver r varying degrees of passive or active participation Minter Yield: Minter receive a proportional 5 % share of the tra on fees on the Kinesis coins they created ane then used. Minting is the Holder Vield Kinesis holders receive 15% a share of the fansaction fees generated holding the crrencies, calculated on a daily bullion holdings into HAU and KAG coins; this its done in the Kinesis Prmary Market Depositors Yield: Kibesis depositors will Recruiter ld: The recruiter yield rewards people or coporations who recruit and refer new users to Kinesis receive a 5 % share of transaction fees on their initial deposit and theh use of Kinesis coins from their Kinesis Wa let.

How does Kleros function❓

Refereed contracts 📝 and Privacy 🔑

Considering the current question goals advances which are exceptionally costly and problematic, the Kleros group has concocted a quick, straightforward and modest debate goals component which is totally solid. The framework ensures that the savvy contracts are executed naturally and does exclude any judgments which are outside the blockchain.

Under this select in court framework, the agreement makers pick the quantity of legal hearers they require and the sort of the court which will run their case. The agreement makers will get different court alternatives to choose from. A portion of the current court arborescences in the framework are E-business, Transport, Insurance, and so on.

In view of the determination of court arborescence, the members of the jury will have alternatives accessible to vote.
Kleros guarantees that the advantaged data of gatherings which has been unveiled to the members of the jury will be kept private and the names of the votes from the hearers are not distributed on the blockchain. The protection is taken care of by actualizing lopsided encryption strategies with the goal that lone the jury gets data of the agreement.

How does Kinesis Money open the bullion market to regular users?

Kinesis tends to integrate some markets experiencing low turn over in terms of their yield. These include;

Cryptocurrency Markets
Gold & silver markets
Fiat currency markets
Investment Asset Markets.
Kinesis are going into a partnership with Allocated bullion exchange (ABX) www.abx.com, because of their reputation as the world leading electronic institutional exchange which themselves just partnered with Deutsche Borse Group.

Why does Kinesis inherently have less volatility?

Looking at the rate at which cryptocurrencies experience volatility because of the nature of the currency to experience moments of increase and decrease, which makes their price to vary from time to time. The case is different when it comes to kinesis, viewing it from their aim which is to minimize risks, maximise return,stimulate velocity and maximizing the rate if adoption. The volatile currency (cryto) is not widely adopted as not everyone can afford to keep such a varying currency as it also comes with risks. Cryptocurrencies are not stable and are currently limited which therefore prevents their usage in commercial applications.
To curb these issues, kinesis came with a solution to eliminate currency velocity and establish a stable one to be adopted internationally as a store of value and a means of exchange.

What is the benefit of using Kinesis over OTC alternatives?

OTC-over the counter is the current method in use by wholesale bullion market participants. A manual method which has its short comings in terms of the problems it poses , its inefficiency and relatively expensive to maintain. This method is manual ,(meaning all activities are conducted using a pen and paper ) which then implies that all transactions are to be made physically ranging from order placement and monitoring to purchase and its discrepancies.

Kinesis is a blockchain based project which means no physical contact is required as blockchain is also known to offer the best service at the lowest possible cost. Also, with their partnership with ABX, they look forward to providing solutions to various issues arising from the OTC methods using the blockchain technology.

USE-CASE :

Wilson is an investor who has a lot of investments in cryptocurrencies. Seeing the volatility of crptos, he tends to keep them until they reach their highest possible rate, which to his expectation should be near, but as per the nature of the currency, the value fell and Wilson will have to wait for it to return to the value he bought it in the first place. Probably if it does, he wouldn't want to sell immediately as he'll want to wait for it to increase so as to make profit. This is making Wilson incure some loses one way or the other. He then seek to invest in bullion by selling all his crypto assets after being introduced to him by a friend.

He started experiencing difficulties with the security of the assets as it is physical and not protected by and means necessary and therefore prone to theft and misplacement.
What if Wilson's bullion is protected with the decentralized blockchain technology?

He later came across Kinesis after so much searches and dangling around the web on a secure bullion. Now Wilson can conveniently protect his currency and spend anytime he wants without the thought of devaluation and more importantly, security.

Conclusion

Kleros is a decentralized court framework which is in charge of mediation of shrewd contracts with the assistance of members of the jury who are enrolled by means of the Internet. The product framework has been accomplished by presenting Game Theory idea alongside Blockchain Technology. The framework keeps running on a convention which bolsters various applications in web based business, back, exchange, travel and numerous different fields.

Kleros utilize digital forms of money to get finish equity to various contracts which are dull to be sought after in a court. A definitive objective of Kleros is to convey a decentralized, economical and solid question goals system to the Peer to Peer economy.