Kinesis : The Future of Banking & Influence on Cryptocurrencies

image source : Kinesis Medium Page

The future of blockchain technology certainly depends on feasibility, scalability and a stable ecosystem of the underlying technology that can influence mass adoption of cryptocurrencies and cryptographic tokens. From generous ideas and professional talks, the blockchain technology seeks its way into making cryptocurrencies a here-to-stay monetary value where we can employ this digital asset in our every day transactions, for example, the purchasing of goods and services. from a shop, payment of bills at a go, et cetera.

All of the aforementioned targets have not been achieved due to the numerous challenges hindering the idea of promoting mass adoption of cryptocurrencies over the traditional monetary system. The following are but just a few of the current problems at stake.

Image source: Coin Market Cap

• Price volatility of cryptocurrencies: The "see-saw " trend in the value of cryptocurrencies prevents its usage as a mere currency and hence participants (cryptomaniacs) are subjected to a holding mentality. Thus, people invest in crypto to only enjoy the profits when the digital currencies' value rise other than use it as our local fiat currencies (USD, CFA, YEN, CEDIS, etc) do.

• Snail-pace transaction times and huge fees placed on transactions with cryptocurrencies : Digital currencies are barely employed in real world transactions because it lack real-time authorization like the traditional banking or monetary systems where visa or Mastercards are used in daily buying and selling activities. Also users lose an appreciable amount of money when trading on the crypto market.

It might sound like there are no solutions to the above setbacks but Kinesis, a new blockchain network, is here to make the blockchain technology feasible and cryptocurrencies acceptable in any trading system across the world accompanied by a fast and easy-to-make transaction grounds.

WHAT IS KINESIS?

Kinesis is a decentralized blockchain network designed purposefully for offering a monetary system that is reliable and stable for the people. This network was built to overcome the challenges that ceases cryptocurrencies from entering the mainstream market. Kinesis also creates a yield system which incentivizes participants/holder of their cryptocurrencies. This revolutionary step taken by Kinesis does not happen with any legal tender currency or existing cryptocurrencies (who's prices lies on a fluctuating scale).

By What Means Does Kinesis Bring Their Currency to a Stable Value & Reduce Transactions Fees making their Cryptocurrency feasible for usage

First and foremost, let's delve into the primary elements of Kinesis. The tools that make the functions of this network not just a talk.

• Gold and silver: These are the revolutionary elements that support the Kinesis primary currencies in a 1:1 ratio . KAU and KAG are the primary cryptocurrencies of the Kinesis network. These currencies are stable and because they're backed 1:1 ratio each with allocated physical gold and silver, their prices do not fluctuate as we observe on the current crypto market cap lists. In the Kinesis blockchain network, the owner of any of these primary coins is entitled fully to the gold or silver that supports the value of the coins.
  Participants can utilize Kinesis' Debit card at places where visa/Mastercard is accepted. The KAU or KAG cryptocurrency is instantly converted into fiat currency via the Debit card.
• Yield: This feature generates incentives which are given to the participants as a token for every economic activity performed. Provides definable value via Net Present Value (NPV) calculations for use in commercial, institutional and retail investment.
  Most interestingly, every participants will have a share of this assured token distribution according to the type of yield system they fall under. There are four types of yield system in the Kinesis network. Let's take a glance through each of them and get back to business.

1. Minter Yield: 5% of the transaction fees on converting fiat currency or physical gold or silver into Kinesis coins is incentivized to the participants.
2. Depositors Yield: 5% of transactions fee placed on initial deposit and usage of Kinesis coins from ones wallet is given to every depositor available on the network.
3. Holders Yield: Holders of the Kinesis coins receive a monthly incentive of 15% of transactions fee generated while holding the coin.
4. Recruiter Yield: Rewards are given to members who refer other onto the platform.

• Blockchain or Cryptocurrency technology: Kinesis has invented a blockchain technology derived from Stellar blockchain for the Kinesis currency suite.

THE KINESIS CURRENCY SUITE

To avert the slow transaction times, reduce transaction fees and to increase security protocols around the Kinesis network, the development team worked around the stellar blockchain network.

Stellar is a platform that connects banks, payments systems, and people. Integrate to move money quickly, reliably, and at almost no cost.Document source.

In Kinesis, old world currency (physical bullion) is tied to new world currencies on a balanced scale of 1:1 ratio. The currency suite is used to digital tie one fine gram of gold per token (gold of 995 fineness) for KAU and 10 grams of silver to one unit of KAG.

Kinesis Use-Case :
@Kwakumax has been an investor of different stocks of cryptocurrencies. Sometimes he wish he could spend crypto like any other local currency in his every day business transactions. Problems such as price volatility of cryptocurrencies, high transaction fee around every exchange and insecurity, does not make his wishes come true.
There was a time where he nearly gave up on cryptocurrencies since it does not perform the things he require until I mention Kinesis to him.
With the Debit card that this network provide, @Kwakumax can instantly convert crypto into fiat at ATM posts that accept visa or Mastercard. Life is now easy.

For more information and resource :

• Kinesis Website
• Kinesis Whitepaper
• Kinesis Onepager
• Github
• Kinesis Twitter
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