If you’ve been a cryptocurrency investor for more than a few months, you’ve probably considered all kinds of different digital assets. There are cryptocurrencies and digital tokens for just about every purpose, and usually more than one coin trying to fix the same problem. However, one use case you might not have considered was a way to make gold into a digital asset.
There are a few crypto companies who are trying to do solely this. We in the crypto markets have grown used to asset-backed tokens at this point, and you might even have heard of one or two cryptocurrencies backed by gold reserves. But only KaratGold Coin (KBC) is tradable forgold.. This is its chief value proposition, and one aspect that helps separate it from the new class of stablecoins now flooding the markets.
KaratGold Coin was introduced to the marketplace by Karatbars International. Karatbars is a gold company that has been in operation since 2011. The brainchild of Dr. Harald Seiz, Karatbars specializes in gold products that are useful as money.
Gold hasn’t been used as money for decades, at least in most parts of the world. There are many reasons for this, but perhaps the most practical is the fact that gold is too valuable to be used as cash. Have you ever tried to pay for coffee with a hundred dollar bill, only to have the cashier tell you that she can’t make change? Now imagine paying for that same cup of coffee with a gold coin worth $500 in melt value. It simply wouldn’t work.
That’s why Karatbars International sells gold products featuring only tiny amounts of gold. Their CashGold notes, for example, are physical bills that hold a tiny 0.1 gram bar of gold. This small amount of gold is worth only a few dollars, meaning that this is a useful amount of gold to use as cash. The problem is, it’s still pretty much impossible to use CashGold notes online.
This is where KaratGold Coin comes back into the picture. Cryptocurrencies like KBC can be spent online, and Karatbars International makes sure of this with their K-Merchant app. K-merchant is an e-commerce solution already integrated with thousands of online retailers. Here, users can spend KBC on any good or service they want. Because KBC is equal in value to a specific amount of gold, this essentially turns gold into a digital money for the internet.
If you buy KBC now, you’ll be able to trade it for CashGold notes starting July 4, 2019. You can also use your KBC to power your IMpulse K1 smartphone, as well as to buy stuff online through the K-merchant app. With the IMpulse K1 Phone that complements the Karatbars’ infrastructure, calls and text messages will not be transmitted through conventional ways, but instead, they are encrypted and broadcasted by a newly created Voice Over Blockchain Protocol (VOBP). As a result, there’s no need to worry about third parties monitoring user’s actions, as the VOBP uses peer-to-peer encryption that cannot be hacked or manipulated in the current state of the art. Linked to the phone, Karatbars presents a clear utility of Karatgold Coin being that KBC serves as a credit for phone calls.
This is a remarkably powerful suite of products that bring gold into the modern age through the power of cryptocurrency. If you’ve ever been interested in buying gold before as an investment, but were more fascinated with novel new cryptocurrencies, KBC may be the perfect way to split the difference for the good of your portfolio.