KARATCOIN — WORLD’S FOREMOST GOLD-BACKED CRYPTOCURRENCY
Introduction
As a crypto investor and expert, I dare say that there is no gainsaying the fact that the cryptocurrency market is quite unpredictable, relatively speaking. Over the years, though, I have come to learn, by experience, that the smartest move a cryptocurrency investor could make is to invest in a high-quality project that is backed by real assets. Perhaps you share this sentiment. As the current crypto space stands, Karatcoin is perhaps at the forefront of a few asset-backed ICOs worthy of investors’ attention.
Maybe you have little or no experience in the crypto terrain, but you want to invest in virtual currency. If so, Karatcoin is your best option at the moment. Why so? Well, it is no secret that there is usually a global financial meltdown after every couple of years. The world is yet to recover fully from the destruction that the 2007–2008 financial crises left at its wake. And what is the cause of these vicious cycles of meltdown? One of the causes is fiat currency volatility. Naturally, any cryptocurrency that derives its value and stability from gold and silver guarantees a hedge against the volatility of fiat currency. That currency is Karatcoin — world’s foremost gold-backed cryptocurrency.
I took time to study Karatcoin Whitepaper. Permit me to share with you some challenges that Karatcoin seeks to address.
Global and pertinent problems that Karatcoin seeks to solve
I. Acquisition of gold — an attractive investment full of many problems
From the dim and distant past, gold has been the currency of choice because of its proven history as a hedge against inflation. However, the global gold market is lopsided, making gold a scarce commodity, even for investors. Small goldmines and individual miners around the world struggle to sell their gold outside the borders of their territory. Hence, the demand for gold is high but the supply is low.
II. Bond Value problems
Verifiable data has it that the bond value of the centralized gold market has witnessed a downward pattern, and now it sits at a low yield: a 1.6% interest rate per year.
III. The problem of middlemen between gold miners and investors
Investors have no established way of having direct contact with gold miners. They oftentimes rely on middlemen to acquire the precious stones. This structural malady puts too much power in the hands of the middlemen who manipulate gold price to their advantage.
IV. Inadequate security
After buying precious metals, investors are faced with the critical question of how to store and protect their new investments. Finding the proper storage and protection for your gold is a huge challenge.
A critical look at Karatcoin’s solutions to the above problems
According to their whitepaper, Karatcoin seeks to solve all the above problems by offering many services, some of which are:
a. Linking goldmines directly to investors: by linking credible goldmines directly to investors, Karatcoin seeks to eliminate the middlemen. I was wondering if this will be possible, but the information in their site, whitepaper and twitter handle has it that Karatcoin has already concluded landmark agreement with large European refinery to mint their mine-sourced gold (LMBA 999.99) and to store it in their vaults in Switzerland and Singapore. If this is true, then I can confidently tell you that Karatcoin will unavoidably become part and parcel of European and Asian economies. Having gold mines as well as vaults is a huge milestone that should guarantee any investor. They have also promised gold mining operations in Africa and South America. All these will increase global gold supply and of course lead to the increase in the value of the Karatcoin.
b. Providing high yield via Karatcoin Gold Asset Certificates
Karatcoin is issuing a bond in terms of this Gold Asset Certificates. These bonds will pay between 5 to 6% yield. Until maturation, return will be paid every six months.
c. Seamless transactions between Karatcoin and investors
By deploying the use of Smart contracts, Karatcoin plans to handle transactions seamlessly with investors. With these Smart contracts, you can exchange money, property, shares, or anything of value in a transparent, seamless way, while avoiding the services of a middleman. All of these can be automated.
d. Karatcoin loans
Karatcoin offers a decentralized loan product for eligible members, known as the Karatcoin Loan (KCL) through a smart contract issuing KCX (Karatcoin Blockchain Validation Tokens) with a financial term that is tailored to the needs of the purpose of the financing or the member country’s overall debt management strategy.
e. The use of blockchain technology
Karatcoin is integrating gold asset and certificates to the Ethereum blockchain to achieve an earth-shattering disruption. Karatcoin’s blockchain will be developed on EOS technology — a software developed in C++ compiled with Clang that introduces a blockchain architecture developed to enable vertical and horizontal scaling of decentralized applications. The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. This will result in scaling capacity of millions of transactions per second. Developed inside the Ethereum blockchain, Karatcoin promises to be faster and more secure than other blockchains like Bitcoin.
Other note-worthy features of Karatcoin
· DApp: there are currently versions for desktop, windows (32 and 64bit written in Electron) as well as Mac. Versions for mobile, Android and IOS, written in ReacJS and React Native will be rolled out soon, according to them.
· Karatcoin’s DPoS consensus: Karatcoin utilizes the Delegated Proof of Stake (DPoS) consensus mechanism that is the fastest, most efficient, most decentralized and most flexible consensus available. This is allows for reliably confirmed transactions every 10 seconds. With Bitcoin, this takes six confirmations at an average time of 10 minutes each. These delegates are tasked with running the network and are rewarded with block rewards, much like miners in Bitcoin.
· PoA Asset Gold Cards: this consists of the PoA information permanently uploaded into the decentralized database.
· KYC: yes.
· Token type: ERC20
· Country: Italy and England
· Symbol: KTC
· Products: DAO, Token, Gold Token, Gold Card, Gold Certificate, Accumulation Plan, etc.
Team Karatcoin
I must admit that the ICO team is made up of high-powered personalities, people with impeccable record of previous outstanding successes in their various fields of endeavor.
Take Claudia Busato, co-founder/creator of Karatcoin, for instance. In 2014, she co-founded Dreamy. She is a master’s degree holder in Marketing and Communication from the University of Boccony. So far, her identity has been verified and her record of successes is in the public domain.
There is Simone Orso, a US full stack developer with 18 years experience. He has over 6 years of professional experience in Blockchain technology, PHP, and JavaScript frameworks.
There is Andrea Venturoni, an expert in investment in Commodities, especially in gold. Since 1994, he has held managerial position at important Italian banks, and leading international insurance companies. He is Karatcoin’s commodity director. Karatcoin’s advisors include Danielle Galli, a two times legislator.
Conclusion and concerns
Most cryptocurrency experts are concerned that Karatcoin’s parent company, Dreamy was never into gold mining and investment in the past. Dreamy is known to have rendered music sharing services. A couple of experts are concerned if Karatcoin will do well in the global gold mining industry since the company has no previous experience in this regard. The company is duly registered and Karatcoin being on the Ethereum platform at least rekindles a lot of confidence.
Again, few of the team members are not on LinkedIn. The team leaders and other key figures have credible accounts with LinkedIn, though. Overall, the project has a lot of potential. It is a platform to trade gold certificates, exchange Karatcoin tokens, as well as saving or exchanging money using gold cards in the decentralized world.
Karatcoin’s current partners include Sahara Royal Gold Refinery and Koafrik Ghana Limited, a front-line gold mining company in Ghana. I had a British friend of mine who is currently in Ghana run a background check on Koafrik Ghana Limited. That part of their story has no snags.
If they are able to keep their word, then Karatcoin will make gold more accessible to the world and this will lead to exponential increase in the value of their coin. It is possible Karatcoin is the future of gold crypto asset. The chances are very high that this will turn out to be the most profitable and exciting ICO of 2018.
The ICO is scheduled to end November 11, 2018. Anyone who wishes to buy the token had better do so now because from the look of things, Karatcoin may hit their hardcap before the above date.
for more information, please visit:
Visit: https://karatcoin.co/#tokenSale
Website: https://karatcoin.co
Whitepaper link: https://s3-eu-west-1.amazonaws.com/karatcoin.co/files/docs/KC_WP.pdf
ANN: https://bitcointalk.org/index.php?topic=4932340
Telegram: https://t.me/KaratcoinGroup
Author : marsha.marsha
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Wallet : KTCEI0pVK3q3LMmsR6DpnPq1Ut40mm94mjk