KaratGold Coin was launched last year following a $100 million ICO, by Karatbars International founder Dr. Harald Seiz. Seiz started in 2011with selling small amounts of gold to consumers, in an attempt to make gold more common in daily exchange. More recently, Karatbars has introduced CashGold, currency bills that fit in your wallet just like Dollars or Euros. The only difference is that CashGold bills have tiny 0.1 gram gold bars constructed right into the note. It’s a fusion of gold and ready cash that no one has ever created before (short of gold coins, which are not practical in today’s world), but CashGold still faces challenges when it comes to spending.
Most of all, CashGold notes can’t be spent online. Hundreds of billions are spent online each year, with these figures growing everyday. Without finding a way to break into this market, Karatbars’ products would remain a very physical, cash-in-hand thing.
Starting July 4, 2019 (Gold Independence Day), KaratGold Coin holders will be able to exchange their KBC for CashGold at ATMs. Users can thus easily receive real gold in the form of CashGold at Karatbars’ own ATMs.
This latter feature is unique to KaratGold Coin. No other cryptocurrency, allows users such a possibility. Furthermore, KaratGold Coin is useful for daily spending. The K-Merchant software launched alongside the KaratGold Coin suite of products allows online retailers to accept KBC, BTC, and ETH at their stores. The official plugin of K-merchant can be currently integrated into Woocommerce, Magento and PrestaShop powered online shops and enables one-click-payments with military-grade security.
This essentially makes it seamlessly possible for people to buy stuff online with gold. Sure, this gold exists in digital, tokenized form, but because both assets are fully changeable one for the other, the digitization of gold is finally complete. These behaviors will be standard practice on the IMpulse K1 Phone, a blockchain phone using KBC as its native currency and thus creates additioal utility for the coin.
This innovation definitely represents an interesting opportunity for investors.
Investors already familiar with cryptocurrency will immediately see the value of KBC, and newcomers may see KaratGold Coin as an opportunity to get into cryptocurrency investing for the first time.
Disclaimer: This content does not necessarily represent the views of IWB.