KaratGold Coin (KBC) Digitizes Gold For The Blockchain Space

People who invest in cryptocurrency tend to have not much interest in gold. To this crowd, gold can seem like a grandparent’s investment. Defiantly physical, gold might hold impressive value, but to a generation raised on the internet, it’s an old-fashioned rock collecting dust. If you can’t spend gold on Amazon, how much value does it have for young investors?

Turns out, gold may be making the transition to digital more than you might think. Of course, gold remains a thoroughly physical commodity, but an interesting digital product digitizes gold, allowing it to be spent online. We’re talking about KaratGold Coin (KBC).

KaratGold Coin (KBC) is the cryptocurrency product from Karatbars International. KBC was introduced to the crypto market in early 2018, through a successful $100 million ICO. People were so excited about the KBC ICO because it offered them the opportunity to buy a cryptocurrency that was linked to physical gold, with the promise that the one asset would soon be exchangeable for the other.

Karatbars threads this needle because it has been in the business of selling gold for almost a decade. Since 2011, Karatbars International has been selling small quantities of gold to consumers who are primarily interested in using gold as money. To do this, Karatbars created products like CashGold, which are physical currency notes with tiny bars of gold inset within the paper. In this form, gold is once again useful for daily exchange purposes.

The gold is packaged as CashGold notes, and starting July 4, 2019, these notes will be exchangeable for KBC through a unique ATM integration as part of the Gold Independence Days. KBC holders can already spend their KBC tokens online, through the K-merchant app. This is the first application that allows users to buy goods and services with gold online. Users can also buy more KBC through the app with Bitcoin, Ethereum, and fiat currencies, or sell their KBC for the same.

Starting with the Gold Independence Days, a full-featured gold circulation is put in place worldwide and the phrase “I will pay in KBC” means “I will pay with gold”,” Dr. Seiz announced.

KBC is also the native currency on the IMpulse K1 Phone. This blockchain powered smartphone is the first such device for cryptocurrency users, offering sophistication and unique features not found in any of its competitors. Being fully aware of the urgent need for security in the prospering smartphone market, the revolutionary phone uses the latest technological advancements to securely store data. Images and documents are enciphered through the IFPS platform, a decentralized storage medium based on blockchain technology. In today’s world, blockchain file storage solutions are regarded as one of the most secure ways to store explicit data.

Consider KBC if you’ve ever wanted to own gold, but have found the difficulty involved in selling and spending it to be a deal breaker. Karatbars’ ingenious products really transform gold into a useful asset of the 21st century, for something other than long term investors. Whether your preference is cryptocurrency (KBC, BTC, or ETH), fiat, or physical gold (through CashGold), you can enjoy gold in any form. It’s a solution that few anticipated, and it’s changing the way young investors today see gold.

 

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