Cryptocurrencies have become more valuable as it has become a main digital asset in the past few years. Most of these cryptocurrencies are backed by precious metals such as Gold and Silver. This is because precious metals remain to have a stable value, and they are consistently high in demand.
Asset-backed tokens or cryptocurrencies use blockchain technology to secure transactions, trading, and payments. However, most cryptocurrencies still experience the struggle of actually converting its value to Gold or any type of working coin.
KaratGold Coin (KBC) however has successfully integrated its actual physical asset to their cryptocurrency. It can be converted easily into Gold, and users can actually use it as an instrument for paying.
This is possible because the KBC issuer made sure that the necessary infrastructures are in place. This includes the right software, platforms, online stores, and even smartphone apps to ensure that the coin has a working and circulating economy.
What is KBC?
KaratGold Coin started in 2011 and was founded by Dr. Harold Seiz, a German entrepreneur. The company originally focused on distributing small portions of Gold as a form of payment (from grams to ounces) until it grew to be one of the world’s leading retailer of gold. Today, KBC is an Ethereum-based asset which is actually exchangeable for real Gold. In essence, it can be called tokenized Gold.
Blockchain-Based Smartphones
What sets KBC apart from other cryptocurrencies is its infrastructure. The issuer created a stable distribution system to keep the coin functioning as a valuable asset. Karatbars established K-Merchant to make it easy for online vendors to accept KBC as a crypto payment (along with Bitcoin and Ether). K-Merchant can be integrated into e-commerce platforms such as Woocommerce, Magento and Prestashop.
Karatbars also developed its own highly-secure smartphone that uses blockchain technology to secure and encrypt data. This new technology is called Voice Over Blockchain Protocol (VOBP), and it uses peer-to-peer encryption to secure the user’s data and files on the device. It cannot be easily hacked or manipulated.
The Gold Independence Days (July 2019)
Starting July 4, 2019, 100 KBC coins can already be traded for 1 gram of pure gold! This makes it one of the first cryptocurrencies to be actually convertible to its true asset. Users and investors can receive their Gold in the form of CashGold at Karatbars’ ATMs.
The company hopes that the stability of gold’s value will make KBC a viable payment alternative – especially in times of economic crisis. The Karatbars company wants to provide its investors with a reliable asset that can be used not just for digital transactions, but for real-world transactions as well.
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