The cryptocurrency journey has been an eventful one. Soaring prices and record highs in 2017, a year of steady growth and consolidation in 2018 and a volatile rollercoaster ride in 2019. Price volatility has been a major issue for investors and those wishing to use digital currencies in everyday use. Extreme movements, either way, are not good for digital currencies’ long term viability. Stability equals longevity and with the successful release of Kinesis Money earlier in September crypto enthusiasts may have the stability needed to boost crypto’s long term viability.
What is Kinesis?
Kinesis is a forward-thinking monetary system, based 1:1 on allocated physical precious metals, silver and gold. It is designed to bring back precious metals as an everyday currency whilst rewarding all those who participate. The Kinesis Monetary System enhances money as both a store of value and a medium of exchange. The vision for Kinesis is to deliver an evolutionary step beyond any monetary and banking system available today by truly digitalising gold and silver.
Built on blockchain technology, the Kinesis monetary system comprises of:
Kinesis Currency Exchange (KCX): The wholesale market where the Kinesis coins are created and minted. Made possible via the Allocated Bullion Exchange (ABX), the first electronic exchange for physical precious metals trading. KAU is the digital gold currency and KAG is the digital Silver currency minted through the KCX.
Kinesis Blockchain Exchange (KBE): The blockchain-powered exchange that enables Kinesis and other cryptocurrencies to be traded
Kinesis Commercial Centre (KCC): an online aggregator marketplace and e-commerce centre which enables payment to merchants
Kinesis Blockchain Network (KBN): forked on the Stellar Network, it is the blockchain technology which the Kinesis cryptocurrencies is built upon.
Kinesis Financial Network (KFN): the mobile financial system allowing kinesis to be used for savings, payments or money movements. By the issue of a MasterCard or Visa card, it means the kinesis coins can be used at over 46 million locations worldwide.
Kinesis Velocity Token (KVT) is the ERC20 utility token that receives a 20% portion of the transaction fees from the Kinesis Monetary System.
How Does Kinesis Work?
Kinesis Money is an easy-to-use interface that provides one convenient location to store, trade, transfer and spend your digital currencies.
Kinesis Mint is the platform that enables users to create their own KAU and KAG using fiat, cryptocurrency or physical bullion on the blockchain. The gold and silver bullion are stored securely in 9 vaults spread around the world, fully redeemable, with allocated legal titles staying with the users.
Is Kinesis the Future?
Whilst still very early days, the signs are very good and the demand seems not only there, but increasing too. Early take-up in Kinesis which has been in development for more than seven years, has been encouragingly high. The team behind Kinesis are both known and experienced and have produced interfaces which are easy to use. The launch on September 12th went smoothly. There were some issues with the KYC proceedure for the Kinesis eWallet but they have been clarified and sorted.
Overall, there should be a bright future for Kinesis as its flexibity, stability and financial capabilities make this a stablecoin with longevity.
Such a great info of Kinesis coin. Kinesis is an easy-to-use interface that provides one convenient location to store, trade, transfers and spend your digital currencies. What are you saying about the new cryptocurrency VTX? It’s the native digital asset of the Volentix ecosystem.