KaratGold Brings Physical Gold Back, But In A Digital Form

Soon after blockchain was brought into operation, it became apparent that money can be transferred as freely as information. In today’s financial world, blockchain technology is making a great revolution similar to the one the Internet once made in the information environment. However, blockchain has not managed to solve the problem of money protection. It appears that the value of cryptocurrencies grows and falls, which substantially prevents their full introduction into the real economic world.

KaratGold found a solution and issued cryptocurrency covered by physical gold! The main idea behind is no challenging: money secured by gold is better than money secured by nothing.

The KaratGold Coin (KBC) is a blockchain-based cryptocurrency specially designed to be used as a generally accepted electronic payment. It is linked to physically deposited gold and takes the form of the so-called CashGold, which essentially makes KBC a tokenized gold.

Starting 4th July 2019 following Gold Independence Days the KBC holders will be able to exchange 100 KBC tokens directly to 1g of pure gold, making the first digital currency convertible to a truly valuable asset.

“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. h.c.Seiz, the founder of Karatbars International, announced.

Indeed, the payment system created by KaratCoin Bank is currently almost as convenient as a traditional system people are used to regularly. Today KaratCoin Bank already issues payment cards, works with ATMs, e-Wallets and the KaratPay system. What’s more, the K-Merchant app contributes to the flexibility of the whole process, since it allows the users who do not want to keep up with physical gold to spend their KBC tokens through the app.

With K-Merchant, Karat’s secure payment gateway, retailers and online shops worldwide can use the new crypto payment system for their own purposes. The central element of K-Merchant is the irreversible, booking- and certification-secure logging of the payment by the KaratGold blockchain. All it takes is a simple scan by a smartphone. K-Merchant has pre-built customizable modules for the most popular e-commerce platforms so that your business doesn’t have to waste time on integration.

KaratGold payment system is meticulously designed to meet the needs of users and save their time. For instance, if a user wishes to sell some gold, he can do so with dollars, euros, BTC, ETH as well as with various fiat currencies, without having to go through complex, time-consuming transaction operations. And since the price of gold tends to change dramatically within just a few hours, the KaratGold system deals away with the risks the buyer and the seller earlier used to take.

The solution based on gold is the best one, as gold has a stable and generally accepted value. As one of the most prominent crypto influencers tweeted: “KBC coin is linked to gold in a way that downside is limited, while the upside is unlimited. For me, it is simply a way to protect against the crypto markets’ volatility.” Thanks to the KaratGold, within a few years, transactions will be fast, cheap, and safe, and the blockchain will be entirely based on gold.

To invest in KBC, you can currently purchase KaratGold Coins on the following cryptocurrency exchanges: KaratBit, Bitforex, Coinbene, HitBTC, Coinsuper, Digifinex.

For further information visit our website http://k-merchant.com

Carolyn Coley is a blockchain reporter. She joined Smartereum after graduating from UC Berkeley in 2018.

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