KaratBank is creating a new cryptocurrency based on ancient inheritance of gold. Although not being easily used in trading today, gold has always been considered a safe and secure investment. Combining this historical method with the most modern cryptocurrency may not seem like a likely partnership. However, a new company is doing it.
KaratBank claims that they take the benefits of gold trading and apply it to cryptocurrency. They point out that gold is a reliable investment way around the world, that it is limited in quantity (which can drive up value) and that it is also stable in terms of the price. By linking each of their KaratBank (KBC) coins to a physical weight of gold deposited (in the form of CashGold – 24-carat gold embedded on a bank note), each token has a stable and trusted value. KaratBank parts are based on the Ethereum Blockchain protocol allowing the use of smart contracts. The team describes the coins as “the foundation of a strategy to promote the development, infrastructure and distribution of a more secure and reliable means of payment.” KBC is related to KaratPay, an online payment platform
The final goal of KaratBank: “The KaratBank coin is designed to be used as an electronic payment method generally accepted by all who consider the As a traditional medium, reliable, safe and reliable “. reliable price of 24 carat gold; the ability to trade for CashGold at any time; real-time exchanges from any location at any time; the possibility of using other popular crypto such as Bitcoin to buy KBC; free and borderless transfers; and low service fees for the use of KaratBank. These benefits have not gone unnoticed, as KBC payments are increasingly accepted worldwide for transactions.
KaratBank comfortably cooperates with Karatbars GmbH (which already has nearly 500,000 users worldwide who have collectively invested $ 120 million), which means that the growing number of companies accepting Karatbars worldwide as payment will also do with KaratBank Coin.
The pre-ICO has already started and will continue until March 21st. Major ICO starting March 22 (1 KBC = $ 0.05). On April 18th, the team aims to have KaratBank Coin registered on a major scholarship. By 2020, they expect to have a market penetration of 2% and a market capitalization of $ 500 million.
For starters, KaratBank’s CEO, Harald Seiz, has forty years of experience in financial consulting. He is also founder and managing director of Karatbars International GmbH, bringing to KaratBank his thorough knowledge of the relationship between gold and cryptocurrency. His expertise has been recognized by the Federal Association for Economic Development and Foreign Trade, which has awarded him a Senate diploma. The rest of the management team also has a strong management background of various German financial companies, and the consulting staff benefits from Karatbar’s experience in Dubai and the United Kingdom.
an exciting time for this business, and perhaps a revolutionary new way to invest in currencies by marrying traditional investment methods with new innovations. Cointelegraph does not endorse any content or product on this page. While our goal is to provide you with all the important information we could obtain, readers should do their own research before taking any action regarding the company and assume full responsibility for their decisions, this article is not intended can be considered as an investment advice.