Kinesis- Birthing a Hybridized Financial Ecosystem

michades97 (45)in #crypto • 6 years ago

Introduction

Financial systems are constantly evolving. Indeed there was a time when gold and silver served the same purpose as paper monies or fiat today. As a matter of fact, in certain parts of Western Nigeria, cowry was a popular medium of exchange at some point in time.

In recent times however, the arrival of a scalable, distributed-ledger technology such as the blockchain network, has paved way for the adoption of cryptocurrencies as an alternative to the traditional financial system. But true to their nature, virtually all cryptocurrencies suffer indignant price fluctuations every now and then. As a perfect example, Bitcoin, the pioneer cryptocurrency rose to as high as $20,000 between december 2017 and january 2018, but today, Bitcoin is barely more than $7,100. Such volatility makes participation in the cryptosphere less attractive to many potential users and negates widespread adoption of the virtual assets, even today.

Again, it is no news that the advent of the bespoke currencies has contributed to the growth of many industries, including the finance industry. In fact, it is by virtue of their creation that the availing of the revolutionary financial platform, kinesis is soon a reality.

What is Kinesis?

Kinesis is a blockchain-powered platform that will arrest the shortcomings of cryptocurrencies by hybridising with traditional assets-gold and silver to avail its own hybrid currency. So basically, the kinesis currency will be backed by physical asset unlike what is obtainable in the cryptosphere today.
By so doing, the incidence of price volatility will be curbed, especially as the digital assets will be backed by two of the most priced and stable physical assets of all time, gold and silver.

Elements of Kinesis Monetary System Platform

For the intent of optimal functionality, widespread coverage, and creation of an hybrid financial ecosystem with a host of benefits, kinesis monetary system will be based on the following elements:

Kinesis Currency Exchange

On the platform, the currency exchange is where the currencies are first minted and by virtue of kinesis' partnership with a reputable wholesale bullion exchange like ABX (Allocated Bullion Exchange), this can easily be facilitated.

Kinesis Blockchain Network

Here, the cryptocurrencies are built and can in turn be used to service payments electronically, by the creation of kinesis credit card and the velocity money which is acceptable at any card receiving terminal around the globe. The KBN is the core of the platform. It enables users to easily transfer or trade the currencies and as with other blockchains, it is open-sourced as well as secured.

Kinesis Blockchain Exchange

KBE is the aspect wherewith the kinesis currencies can be exchanged for other cryptocurrencies as the owner so pleases.

Kinesis Financial Network

This is the framework that allows the use of kinesis as acceptable means of exchange for virtual trading or physical trading by availing portable mastercards and verve cards.
To cap it up, these cards are inexpensive for card merchants to adopt. They would not have no worry about the standard 1.5%-4% credit card fees associated with the current credit card technology.

Kinesis Velocity Token as an Incentive

In a bid to promote the growth and acceptance of kinesis, certain incentives will be featured on the platform.

Minter's Yield

This is the reward that a kinesis investor enjoys when he purchases the currency with fiat or other currencies, which must be followed by a transaction. It could be a trade, or a purchase or even a transfer.
In as much there is a transaction involving kinesis, the user gets a velocity-based reward. And, its called minter's yield.

Security

Kinesis currencies will be asset-backed 1:1. This way, users will not be subject to exploitation by local financial institutions who use their bank deposits to service loans and maintenance.
Kinesis Monetary System will exonerate users from such risks.

Besides, the organisation is in partnership with world's leading and trusted bullion exchange, ABX , Deutsche Horse Group, mobile money bankers and many others, and these parties provide unbeatable verification, quality assurance and real-time transaction execution respectively.

Price Stability

If there is one thing at all that the kinesis monetary system assures, it is an ecosystem in which cryptocurrency prices would be stable.
The major reason for price fluctuation in the first place is due to the lack of a back-end system, i.e, an asset. Therefore, by adopting bullions; gold and silver as their underlying support, cryptocurrencies will undoubtedly no longer suffer price volatility. In fact, the virtual currencies would be able to scale to unfathomable heights.

Use Case

Donald is an astute businessman, who has carved a niché for himself in the clothing and textile industry. He has diverse investments including landed properties, cryptocurrencies, . Of all these, Donald is most keen about scaling his cryptocurrency portfolio but he is worried about the price volatility.

He soon contacts one of his lawyer friends who suggests that investing into something more stable and physical like gold would be the best. However, Donald has become so fond of the cryptosphere, especially for the fact that there is absence of government legislation, and so he is in a dilemma.

One day, whilst combing the net, he stumbles on kinesis. He discovers that kinesis is just the best fit for his business and almost immediately, migrates. This way, Donald can continue to enjoy the decentralized network and transparency of the cryptocurrency sphere. And, can be rest assured of the stability.

Conclusion

From the foregoing, it is obvious that kinesis monetary system will impact the finance industry in no small way.
By effect too, the cryptocurrency sphere would see an influx of users. So, no doubt, kinesis is the way to go.