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Kinesis Launches the Kinesis Mint, physical gold and silver on the blockchain
via PR Newswire, Chicago
Wednesday, May 1, 2019
LONDON -- Today Kinesis Money is announcing the launch of its cutting-edge blockchain-based platform, the Kinesis Mint. The Kinesis Mint, which will cement Kinesis' position in the market as a formidable global fintech player, is a platform that allows users to create Kinesis digital currencies, KAU (1 gram gold) and KAG (1 ounce silver), into existence.
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Kinesis Money is an evolutionary monetary system using the real assets of gold and silver as the basis for digital currencies. These currencies provide a 1:1 allocation of physical bullion, with the transaction fees accumulated whenever the currencies are sent, spent, or traded and then proportionately redistributed to Kinesis currency and token holders as a velocity-based yield, incentivising use.
"Minting" is the process of creating Kinesis currencies by depositing fiat to purchase bullion or depositing existing bullion into the Kinesis Mint. The physical metal is then emitted to their bespoke fork of the stellar blockchain and represented in a user's e-wallet; facilitating remittance over the stellar blockchain, which enables global transactions of over 3,000 transactions per second with a settlement time of 3 to 5 seconds at a flat fee of 0.45 percent. ...
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