Bitcoin is often referred to as “Digital Gold”, and it’s a fairly useful nickname. After all, Bitcoin is very valuable, and investors of all kinds are interested in it. But here, the resemblance starts to wear thin. After all, Bitcoin doesn’t have any industrial purpose, while gold has many. Bitcoin isn’t something your grandfather probably understands, though everyone has an intuitive understanding of gold from a very early age.
Now that we think of it, “Digital Gold” might not be the best name for Bitcoin. But it’s a perfect way to explain a newer cryptocurrency, KaratGold Coin KBC.
KaratGold Coin was conceived by gold entrepreneur Dr. Harald Seiz. Seiz’s company Karatbars International tries to find new ways to make gold a practical asset in the modern world. Gold used to be standard currency internationally, but it has grown to work in most situations as pocket cash. That’s why Karatbars introduced CashGold notes, and used KaratGold Coin to carry them into the digital sphere.
Let’s start by explaining CashGold. CashGold Banknotes are the paper currency, resembling the bills you probably have in your wallet. However, these notes aren’t just a cloth, paper, and plastic composite like so many fiat currencies; each CashGold note has a diminutive 0.1 gram gold bar built into each bill. This unique form factor serves to make gold practical for routine exchange, providing you’re able to barter with the recipient.
KaratGold Coin makes CashGold even more practical, and has unique and powerful features all its own. Like Bitcoin, it’s a cryptocurrency (though KBC is built on the Ethereum blockchain). It’s exchanged digitally, from device to device, and it can be used for making payments through the K-Merchant app (already available for all businesses affiliated with WooCommerce and other e-commerce solutions).
KaratGold Coin’s value is pegged to the value of specific quantities of CashGold banknotes. And as you might expect, CashGold’s value comes from that of the gold housed in its physical structure. Starting July 4, 2019, people will be able to exchange KBC for real CashGold notes at participating ATMs.
Therefore, Karatbars International has created the perfect continuum between real gold, pocket-ready cash, and digital cryptocurrencies. It’s a more elegant digital/analogue system than Bitcoin has yet achieved, and this is why savvy cryptocurrency investors see KaratGold Coin KBC as a potential sleeping giant.
Regardless of what might happen in the crypto space, KaratGold Coin is a very interesting product for anyone who is interested in gold as an investable asset, but who finds it too difficult to transact with in the physical and digital worlds.
Now investors of all kinds can transition elegantly between modern digital assets and physical gold. No longer will gold investors be locked into ownership of an asset they can’t spend, and no longer will cryptocurrency investors be many steps away from safe, tangible assets. It’s a perfect system, one which we expect to get a whole lot more attention in the coming days and months. Digital Gold is finally here, for real this time.