$1/person? You think mined gold is valued at just $7B? Daily gold trade is over $32B.

Kinesis does not mint the tokens nor are the tokens backed by gold exclusively held by Kinesis vaults.

People mint it. Any trusted vault may store it. It's an open network so the amount of gold being stored cannot be falsified.

As for gold needed to support this, I raised that question too when I met the team.

Present net gold supply is valued at $7T. To support this network, were the whole world to adopt it, price would appreciate.

Industries won't be affected as gold is sparingly used in manufacturing. The few products that do use it would apply close substitutes or use the newly priced gold. However, as gold would be only one component, final price won't be affected much.