City PM’s Crypto Insider met with Thomas Coughlin, CEO of Kinesis & ABX
A new cryptocurrency has been developed, presenting a unique way to digitalise two of the most stable stores of value through the use of blockchain technology. What makes money successful and sustainable is for it to be used as an efficient medium of exchange from one party to the next.
Kinesis has introduced yield-bearing digital currencies, based 1:1 on physical, allocated, gold and silver. When you purchase Kinesis currencies, you are simultaneously allocated real gold or silver stored securely in one of several third-party vaults around the world ensuring no counterparty risk. These digital coins (KAUs represents the gold-based coin and KAGs represents silver), can easily be spent at point of sale through the Kinesis debit card, allowing users to make fast and safe transactions. Holders of Kinesis currencies can redeem the coin and take delivery of the underlying physical precious metal guaranteeing intrinsic value with this cryptocurrency.
We caught-up with Thomas Coughlin, CEO of both Kinesis and strategic partner the Allocated Bullion Exchange (ABX), a public company in Australia, to learn more about Kinesis. Coughlin spoke to us from South Korea, where he was taking part in press interviews and investor meetings in Seoul, where cryptocurrency is extremely popular and has even been adopted by the South Korean government; who’ve heavily invested in blockchain.
Coughlin explained; “What we have successfully been able to achieve is a merging of technologies from our existing institutional metals exchange ABX, leading online exchange platform for physical bullion, with deep expertise in the gold industry, and our bespoke Kinesis Blockchain Exchange, which was developed in-house. This has created the perfect rail system to deliver digitalised gold to be used as everyday currency. Our system is one of shared economic wealth, we’re great proponents of fair, honesty and sound money. Bringing back a truly decentralized, digitalized asset, based on blockchain technology.”
“This is the first time that allocated gold ownership has delivered this kind of non-debt-based yield, so Kinesis have a lot of interest from the $15 trillion gold trading industry. Gold has been independently valued by ancient civilisations all around the world for thousands of years.”
Currently on offer is the Kinesis Velocity Token (KVT), which is only running until the end of public sale, set to close by midnight on the 12th November.
The Kinesis Velocity Token (KVT) allows early adopters the opportunity to share in the success of the system from an early stage. Individuals are able to buy into an accumulative 20% share of all transaction fees, and top line revenue, of the entire system.
KVTs are limited to 300,000 only, with no chance of future dilution.
No need for complex byzantine systems of the past for managing our finances. Using the Kinesis Monetary System users will be able to make purchases, both large and small, to pay bills with ease and even manage international payments with lower transfer rates offered by banks and alternative international payment services.
Find out more at: www.kinesis.money