Kinesis: The new Currency that stores value

in crypto •  22 days ago

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Kinesis is a new decentralized blockchain which integrates the use modern day technology (digital financial system) with the olden days monetary system (Gold and silver).

Kinesis builds. structure that retains and increase the value of its currency through participation. Is that awesome? I'll explain in details below.

The Challenge

Since the introduction/evolution of blockchain which has enjoy acceptability globally, cryptocurrency still suffers a lot of setback as itvcnnit be used a legal tender like the regular Fiat transactionss be carry out on a daily basis. The unpredictability In the price of crypto has affected the used of cryptocurrency as a legal tender because when the value of crypto is changing and the prices of goods and services remains constants using it as a tender becomes a risk as users and investors runs the risks of loosing their investments which a lot of people aren't ready for.

Kinesis Monetary System

Kinesis creates a monetary system that is decentralized, secure, reliable, efficient and asset backed. This is made possible by combining modern digital decentralized blockchain tech with Old value storage monetary system thereby enhancing money while preserving its blue by backing it up with visible and usable assets "gold and silver".

Kinesis monetary system is such that it encourages and rewards the use of kinesis currency globally which enables consistent circulation which its yielding system is determinant on the market spread and circulation of the currency. They tend to attract capital from markets currently experiencing low profits be returns like the
• Gold and silver
• cryptocurrency market
• Print Fiat money
• Asset based markets.

In other to adopt this monetary system into the economy kinesis introduces two(2) major types of tokens.

1. Kinesis Velocity Token (KVT)

This token is the backbone or financier of the entire monetary system of kinesis. Its an ERC20 Token that empowers holders to proportionally receive 20% of transactions fees gotten from transactions using this token. What this will do is encourage the use and purchase of the token thereby generating activity and in terms of demand and supply of the token on the kinesis platform.

2. Kinesis Currency Suite source

This is the currency that will have the actual gold or silver backing. By forking the steller blockchain and owning their one source The source is where they back the currency. One other advantages of forking the bkockchain is that it helps in enhancing transaction speed, security and its stability thereby upholding its value. the gold backed token is called "KAU" it equals 1 gram of gold. The silver backing is called "KAG" and equals 10 grams of silver.

Kinesis also adopts yield strategy in other to increase user participation with the kinesis currency. The yields comes in different categories that also differ in returns. The yield in generated based on general assessment on user activity. Kinesis is multi versatile in nature in the sense that not only can it be backed by gold or silver its not limited to gold or silver backing but rather it was created in such a way that it can be backed with any type of storage value, it can be assets, fiat currencies or also it can also be backed by other cryptocurrency. In the future kinesis looks at implementing this.

in other to adequately secure and store currency value kinesis has patnered with **Allocated Bullion Exchange (ABX).

Allocated Bullion Exchange

with the partnership with the Allocated Bullion Exchange (ABX) which is a publicly traded company and also the worlds Electronic institutional exchange platform in Precious metals like gold and silver.
Regular customers are those who do not posses any financial electronic or digital monetary system skill what so ever they are those used to the system called the over the counter (OTC) system which requires the use of FIAT currency to executed transactions. Now this system has proven inefficient and insecure in the past. How does kinesis looks to solve this by integrating a mobile banking system that allows the use of kinesis currency for regular transactions like deposits, transfers and it also integrates the Use of MasterCard's and visa cards for regular daily transactions.

It is no small task creating a new monetary system that preserves its value in doing sure some measures and elements that enhances economic transactions. These key elements are what makes up the kinesis monetary system.

Kinesis Currency Exchange (KCX): this is where the tokens backed by gold or silver (KAU & KAG) are created, and the trading of the precious metals is done with the help of the already mentioned Allocated Bullion Exchange (ABX)

Kinesis Blockchain Network (KBN) Source : this is where the tokens can be utilized for general transactions like deposit and saving.

Kinesis Blockchain Exchange (KBE) Source : this is simply an exchange platform meant solely for general trading between different crypto currencies.

Kinesis Financial Network (KFN) Source : the financial network is what will allow the people to use the Kinesis tokens in common and everyday transactions, effectively allowing precious metals represented by the tokens, to act as a means of exchange. Users will have access to a digital wallet to store their tokens allowing them to earn interests , and more importantly, they will also receive “a Mastercard and Visa debit card and accompanying companion card” Source , which means, spending their tokens and actually using them in the real world will be extremely easy.

Kinesis Commercial Centre (KCC) Source: as the name implies, people offering goods and services and being willing to take active part in this new ecosystem, will be able to list themselves and announce their availability to people using this platform.

Kinesis Velocity Based Yielding System

In enhancing user participation kinesis employs a yielding system that gives users percentages returns on participation and it comes in different forms.

Minter Yield System
In improving economic growth and circulation of the kinesis currency the team designs yield system that rewards users who creates mints that can be used in the regular and blockchain market. They are offered percentage shares fees from each transactions.

Holders yield system

This is a yield created for holders of the kinesis currency, there no much requirements to earn this yield all required is that the more the holders money is in circulation the more yield they are entitled to.

Affiliates Yield system

This yield is designed to encourage new user participation in the ecosystem. where those who bring in new users gets a return for a job well done.

Depositors Yield System

This us a yield system that is incurred when a depositor put in a huge amount as his first deposit a percentage of the transaction fees is given and also depositors can earn more on sir further use of the currency.

Use Cases

Chike is looking at securing his funds because he foresees economic inflation in his country he is in search for a means of purchasing a currency that has in itself the ability of storing it's values thereby preserving his investment.
A friend introduces Chike to the kinesis monetary system and he successfully bought some tokens and now Chike can go to be knowing his investment is in safe hands.

Conclusion

Kinesis looks at creating a new monetary system like never seen before. One that seems audatous and takes muscle. The crypto industry today suffers from low volatility and stability In the storage value this has resulted in making them unfit as a generally acceptable legal tender.
kinesis solves this by intergerating the use of modern blockchain technology and old
monetary system which has proven to be more stable and has inept ability to store its value. What kinesis offers are unlimited with access to fast transactions and security from the blockchain technology. It also encourages economic participation by introducing its yield system that help users earn return from the circulation and adoption of the kinesis currency.

This is my entry for the @originalworks writingcontest

kinesis2018

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