Kinesis Money - Gold & Silver in the Blockchain

What do you think of the idea 💡 and do you think it can catch on in the future? An introduction to the topic 👇🏻

What is Kinesis ?

Kinesis was founded by the Allocated Bullion Exchange (ABX). ABX is integrated into Deutsche Börse's clearing house and already has a comprehensive infrastructure and fully functional exchange technology for trading and storing physical gold and silver in 7 locations worldwide.

One of the leading institutional online exchanges for trading physical gold and silver has created a new currency system with a digital currency based 1:1 on allocated physical gold and silver.

Kinesis has created high-yield digital currencies based on physically allocated gold and silver at a 1:1 ratio. Those who buy Kinesis coins are simultaneously allocated real gold or silver, which is securely stored in multiple third-party vaults around the world, with no counterparty risk. These digital coins (KAU stands for gold coins and KAG for silver) can be issued via a Kinesis debit card, as well as sent and received via an eWallet through fast and secure transactions. Holders of Kinesis currencies can redeem the coins at any time and receive the underlying physical precious metal, which guarantees intrinsic value.

Kinesis is a decentralized, digitized asset based on blockchain technology. The Kinesis blockchain is a fork of Stellar technology.

There are two different token types, the Kinesis Velocity Token (KVT) and the precious metal backed tokens KAU (gold) and KAG (silver).

KVTs are limited to 300,000 only. KVT token holders receive a passive return on the transaction fees collected by the Kinesis currency system. This creates an additional passive form of potential return for holders over the value of the token itself.

The ICO relates to the Kinesis currency suite, which was launched in November 2018. This includes the KAU (gold) and KAG (silver) currencies. KAU and KAG are pegged 1:1 to physical precious metals: 1 g of gold equals 1 KAU and 1 ounce of silver equals 1 KAG. These tokens can be purchased via the Kinesis Exchange against USD, Bitcoin, ETH, for example. Their value evolves with the price of gold and silver.

The Kinesis currencies offer a unique return system which will go live in steps this year to drive adoption and stimulate usage. When KAU and KAG are transferred between holders, the network charges fees of 0.22% and 0.45%, respectively, which is distributed monthly and in varying proportions to participants in the Kinesis currency system as a return. This is the first time that allocated gold ownership has generated this type of return.

The Kinesis ecosystem consists of several parts, including:

-Kinesis Exchange

-eWallet

-Debit Card

-Mint

-...

The Kinesis Blockchain Exchange (KBE) is the proprietary exchange platform that allows users to buy and sell cryptocurrencies against Kinesis currencies, enabling easy exchanges for cryptocurrencies. From Bitcoin (BTC) to Kinesis Gold (KAU) or Kinesis Velocity Tokens (KVT) to Ethereum (ETH). Exchange cryptocurrencies into gold and silver without third-party providers.

Kinesis tokens can be stored, sent and received in your own eWallet, as well as Bitcoin and Ethereum. USD or physical gold or silver are deposited into the Kinesis primary market and you receive the Kinesis currency, gold or silver in KAU or KAG. They are displayed in the eWallet and can be spent or transferred.

To make it easier to pay with Kinesis, there is a Kinesis debit card that can be used anywhere Visa and Mastercard are accepted. The new Mastercard virtual credit card was rolled out in October 2022 and is available. Google Pay is working, Apple Pay is not yet. The physical card will also be made available in early 2023.

The Kinesis project is the first digital money backed by 1:1 precious metal via blockchain. While there are other projects, they are not fully compatible with gold and silver. Backing a cryptocurrency with gold is an obvious idea and could be seminal, especially in a decentralized form.

Kinesis gives every new user half an ounce of silver when using my link. To do so, note the requirements of Kinesis 👇🏻

https://kinesis.money/referral-silver-rewards/#earn-silver-rewards

If you want to try Kinesis and you like the article you can register with the following link (registration is not a commitment, it is my referral):

https://cutt.ly/MyKinesisMoney

Information about the Kinesis interest system:

https://www.boersennews.de/community/blog/Kinesis-Money---Das-Zinssystem-erkl%C3%A4rt-/2056/

Physical Delivery Information:

https://www.boersennews.de/community/blog/Kinesis-Money---Physische-Auslieferung-und-Rechenbeispiel/2066/

Detailed info and explanations about Kinesis:

https://support.kinesis.money/hc/en-gb

Sources: Kinesis, blockchainmoney.de, Wallstreetsilver, et al. $965515
$965310

MCS_02@mcs

2Yr

Nice nice, I've had my account for a year now, the main questions I have at the moment are how sustainable can the system grow out of itself, but we'll probably see that as PM prices rise. If they will get the problem with the physical Visa Cards under control and when and how the Velocity yield will come. I am overall quite convinced of Kinesis, but at the moment I would really only hold a small part of my EMs in the KMS.

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TheUnderdog@TheUnderdog1

@mcs Announced is so far only the virtual card 💳 whether physically still comes one??? 🤷🏼‍♂️ The most important step is then that they bring PosGo to the start. In Indonesia there are almost no bank accounts and Kinesis could fill this gap with the PosGo integration well. Plus it is planned to have the Jakarta FX traded via Kinesis. Do you have KVTs?

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@TheUnderdog1 yes, I have a few KVTs. The idea of adding value to commodities through a blockchain in their monetary form is very obvious, but also just too good not to be there. I also like the management pretty well so far.

@mcs very nice, also have a few KVT. Let's hope it ignites!

@TheUnderdog1 I actually think it's going to take a while. But the return could be really good. I just hope that they have ramped up the Vyield times at least until Q4 and the KVTs come on the secondary market. (The supply doesn't seem to be too big anymore) That would take a lot of uncertainty out of it, then I might buy a few again.

MatsoTake@Embres

👍

Europoor@Europoor

I actually thought the post was quite good, but why are you hiding the reflink behind your own domain? How does this behave for tax purposes, as cryptos are always likely to be subject to a tax event if sold during the year?

@Europoor found the domain, very fitting from the name, I thought I'd reserve it 😂 tax-wise probably like the metal there 1:1, unless you also trade crypto like BTC, etc. there.
The nice thing is actually that you have no storage costs with precious metals and even earn interest. And if you like, you can have it physically delivered to you at some point. I mean with KAG then possible from 200 ounces and KAU from 100g gold. The premiums are also not as high as in the trade. I'm just waiting for the credit card 💳. That is currently dragging on.