Looking to bring back the power of a gold-linked economy by solving some of its most pressing challenges, KaratGold has produced what many would argue is the first truly viable gold-linked cryptocurrency.
The project is already well on its way to creating a global infrastructure that will become a bridge between conventional and cryptocurrency financial systems, let’s take a look at its story so far.
A History of Success
Since being founded in 2011, Karatbars International GmbH has gone on to become one of the world leaders gold-based products and is currently one of just a handful of companies to sell small denomination gold bars at a reasonable cost with its CashGold product.
After raising more than €100 million in its blockbuster KaratGold ICO in 2018, Karatbars as since gone on to launch a bevy of other products and has produced arguably the most complete blockchain-based gold ecosystem available.
One of its most prominent products is the KaratGold Coin (KBC) cryptocurrency, which has the possibility to be exchanged to gold at 100 KBC per 1g of .999 gold, which is possible once per day. Beyond this, KBC can also be seamlessly exchanged for other cryptocurrencies via the KaratBit Exchange Platform and can be directly spent with participating retailers that support the K-Merchant crypto payment system.
In addition to this, The Gold Standard Group, partner of Karatbars International, finalized its Memorandum of Understanding (MOU) for the acquisition of a substantial share of a gold mine in Madagascar. Once this process is finalized, KaratCoin Bank has operational access to a large gold mine, which essentially grants access to a source of gold at cost price, providing significant support for the KaratGold ecosystem—something few gold distributors can boast.
As it stands, KaratGold is also one of the fastest-growing projects in the crypto world and has racked up an incredible 700,000 affiliates in over 140 countries already.
For the first time in hundreds of years, the KaratGold system has once again made gold a viable payment method, and with plenty of further developments still in the pipeline, it appears it won’t be slowing down any time soon.
What is Next for KaratGold?
The next chapter for the project will begin in late 2019 when its two cryptocurrency tokens—KaratGold Coin (KBC) and KaratBank Coin (KCB)—will be merged into a single token through an innovative merge fork. This new coin will be running on KaratGold’s custom mainnet known as KaratNet.
The single token that emerges from this fork will be available to trade on all of the same platforms that KBC is currently available to trade on, including HitBTC, Digifinex, YoBit, and Coinbene. In addition, it will be added to Karatbars own Karatbit exchange platform, where it will be tradeable against other digital currencies.
Combining this with the rollout of its CashGold Exchange Machines in December 2019, KaratGold and KaratCoin Bank could be poised to lead the gold industry into a new era, bringing gold to the forefront of the modern economy.
Additionally, though KaratGold is best known for its gold-linked cryptocurrency and Karatpay merchant payment system, it is also developing the world’s first phone to utilize the Voice-over-Blockchain Protocol (VOBP) communication.
By utilizing blockchain technology, the Impulse K1 phone will allow for a level of privacy not previously possible, while offering practically unlimited storage through the use of the interplanetary file storage system (IPFS).
Harald Seiz founded Karatbars International with the goal of bringing gold back to the mainstream, helping individuals and companies of all sizes build wealth and independence. Now, just 8 years after the company was founded, it appears Seiz is well on his way to making that goal a reality.
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