KINESIS: THE EVOLUTION OF THE GOLD STANDARD

nawmi (41)in #crypto • 6 years ago (edited)

Introduction

From age, the use of gold and silver as a means for transacting has been in existence. Gold and silver apart from being used has a form of medium of exchange, it’s also used as asset-backed financial system. Gold and silver collection in large quantity is known as bullion and they can be used to store value. Individual wealth in the age from past is basically based on the amount of gold and silver individe a possed. Gold and silver are commonly stored (good money) by individual that owns them thereby undermining the circulation of wealth. In today's world, gold and silver remains a valuable commodity as it is a significant entity when it comes to the world economy because of it ever increasing value. When it comes to gold and silver business, the storage, where to buy at a considerable good market value remains a problem.
Kinesis is a platform that provides solution to all matters arising when it comes to the bullion investment using blockchain technology in doing so.

What is Kinesis?

Unlike saving money and other physical assets in banks where the bank have a legal control over saved assets and money, and can invest such to maximize financial return, kinesis provides a platform where users that purchased token by either gold or silver deposition have the direct access to profit resulting from all the transactions carried out via the generated token on the kinesis platform. Kinesis is a decentralized platform that uses the blockchain technology which provides maximum security for user data and assets.

The current problem with money and the monetary system

Let us say that jack works for a few hours and gets paid $50. Today he can survive on this $50 for two days.
A few months or years down the line he would need more money to sustain himself for two days.
Why is this so?
The reasons are many.One of it being that money depreciates over time it can no longer buy the things that it once used to.
The losing buying power of money is evident from the fact that if we compare wages and pays that are existent today as compared to a few years back we find even though the wages have gone up so has the prices and the cost of living.
As as comparison of price from the 1960's to today one finds a major shift in the price of virtually everything.

The governments around the world keep printing more money in an attempt to put more buying power in the hands of its people. However this buying power is only notional.

After all money is only a piece of paper or metal unless it is backed by precious metals like gold or silver as it used to be the case in olden days. Now a days there is no such backing.

In order to solve this financial situation people turned to cryptocurrencies. Although they have the advantage of being decentralized and out of control of government that could manipulate them. They remain highly volatile with huge price fluctuations.
This makes them unsuitable to be used in day to day trade related activity in lieu of money and as a store of value.

The Kineses working model consists of a number of independent yet interconnected models they are as follows

Kinesis currency exchange KCX: This is the place where the currency is the currency is created and minted.This operation happens with the help of ABX.

Kinesis Blockchain Network (KBN): The blockchain is the foundation on which all of the kinesis suite is built
Kinesis Blockchain Exchange (KBE):This is a digital currency exchange where the tokens can be traded.As these tokens represent physical assets thus you are trading the physical asset using the tokens.

Kinesis Financial Network (KFN): This establishes a mobile banking system which deploys savings, making payments, remittances and other operations that involve the movement of money and it also enables mastercard and visa debit payment access.

Kinesis Commercial Centre (KCC): This would act as an online aggregator platform of providers of both goods as well as services that are accepting and trading using the KAG and KAU tokens as a means of payment.