KaratGold Coin (KBC): The Cryptocurrency Redeemable For Real, Physical Gold
Where once there was only Tether, today there are dozens of asset-backed stablecoins flooding the cryptocurrency markets. And yet, most of these projects are still based on something that was supposed to be done away with the advent of cryptocurrency: trust. With asset-backed stablecoins, you still have to trust that the company that runs your project has the assets they claim to. In almost all cases, you wouldn’t be able to trade your cryptographic assets for the physical assets upon which they are based. There is, however, one notable exception, the project we’re talking about today: KaratGold Coin KBC.
KaratGold Coin (KBC) is the newest product from Karatbars International. A trusted gold currency product provider since 2011. Starting July 4, 2019, KBC holders will have the option to trade out their digital KBC for the physical gold that gives it value, in the form of CashGold notes.
While not every stablecoin must be linked to a physical asset to be a strong store of value, linking a cryptocurrency to an asset isn’t a bad idea. Combine this with the ability to change the digital currency for the physical asset, and you’ve got a really unique cryptocurrency in a crowded field, one which could stand a chance at big time adoption in the months and years to come.
We expect big things from KaratGold Coin for a couple of reasons. On the one hand, we’ve got a strong project from a trusted gold company, with value that is (at the time of this writing) right near where it was in February 2018, when the KaratGold Coin ICO was completed. The cryptocurrency industry saw tremendous downward pressure in the months that followed this ICO, and many other ICOs simply failed during this time. The fact that we’re still talking about KaratGold Coin a year-and-a-half after its genesis block, and that the company backing it is verifiably trustworthy, speaks very well of this asset linked cryptocurrency.
On the other hand, we’ve got a real need at present for trustworthy cryptocurrencies. While some might argue that bringing “trust” back into the system negates one of the central value propositions of cryptocurrency, common sense says that if the market wants asset backing, companies that can provide the service with integrity have value in this market. Industry followers have long understood that Tether probably didn’t have the dollar reserves it claimed. The New York Attorney General suing Tether and Bitfinex just seals the deal. We’ve never needed a trustworthy stablecoin like we do today.
These factors present a very strong case in favor of KaratGold Coin, one which could carry it into market prominence in the coming weeks and months. Consider investing for portfolio stability, access to physical gold markets, or because you know a good crypto project when you see one.