ICO Today Magazine News
The KaratGold Coin is a blockchain-based cryptocurrency that is linked to physically deposited gold in the form of the so-called CashGold. A certain number of KaratGold Coins can be exchanged for the appropriate amount of CashGold at any time.
The KaratGold Coin is designed to be used as a generally accepted electronic payment means for all who consider gold as a traditional, true, secure and value-stable medium.
Globally, customers on the one side, and merchants and servicers on the other side, rely on the value of gold. In former times, gold was a direct payment means, particularly in the form of gold coins. However, Gold has continuously been replaced by bank notes, which nowadays are not, or only to a marginal percentage, backed by state-owned gold. Therefore, the value of the bank notes issued by the different countries rely on the trust that the respective country can pay its bills, only this is less sure than in former times. Especially in less developed countries, the trustworthiness of legal tender moves towards zero.
In this situation, the KaratGold Coin perfectly meets worldwide needs because it is a kind of cryptonyzed gold. Each coin represents an imaginary certain weight of gold whereby a certain quantity of KaratGold Coins can be exchanged for physical gold in the form of CashGold. Furthermore, it will be made exchangeable for all fiat currencies and cryptocurrencies worldwide in the future.
The KaratGold Coin can be transferred borderless, cost-efficiently, securely and in real-time. Its value is predictable because the value of gold has a long tradition, and everybody has an idea about its stability. Therefore, the KaratGold Coin can become generally accepted worldwide. Currently, more than 480,000 customers from more than 120 countries have already bought smallest gold bars from Karatbars GmbH, Stuttgart, Germany. The total investment of these customers amounts to nearly USD 120 million. It is therefore obvious that with this customer basis, the KaratGold Coin will achieve a high market capitalization: it will write a success story.
The visionary behind the idea to create the KaratGold Coin is Mr. Harald Konstantin Seiz, a German entrepreneur, founder and owner of several companies, author of books, guest speaker and founder and CEO of Karatbars GmbH, Stuttgart, Germany.
The KaratGold Ecosystem will comprise the KaratGold Coin, KaratPay and the KaratGold Wallet.
The KaratGold Coin is based on the Ethereum blockchain protocol. Therefore, it is safe, cost-efficient and fast, and allows for the use of smart contracts.