ABX.com, leading online metals market, stems a new blockchain startup to reignite the gold standard monetary system. Be a part of the change and win $10,000 in gold & silver.
Free STEEM details at end of article.

Every year, every single person gets robbed.

Every currency in the world is constantly depreciating due to inflationary monetary policies adopted by governments across the world. These policies rob people of their wealth as the money they possess is becoming less valuable; this is an implicit robbery that everyone has simply become adjusted to.

Even the US dollar, which makes up the largest portion of foreign reserves across the world, has depreciated nearly 98% over the last century. This loss of wealth does not impact people in equal proportion.

A few are able to dodge the dilemma proposed by inflation; these are people who possess enough initial capital to hire financial advisors and money managers, and have access to lucrative, inflation-beating investments like real estate or private equities.

The majority of the world—the masses—lack the resources to enter inflation-beating investments are left holding ever-depreciating fiat. A vast portion of the masses do end up holding savings accounts, but dust-like returns fall frail against annual inflation rates.

Inflation exists as governments are able to print surplus cash as they needn’t hold anything to back the paper. Things weren’t always like this.

The Superiority of Gold as a store of value is obvious.

The Gold Standard

For the longest part of history, value was transferred through desirable assets. One asset remained as a primary means of value transfer: gold.

Thus, when paper currencies were first issued, they had to be backed by gold. Anyone having a bank note would be able to go to the bank and claim the amount of gold the bank note claimed to be backed by. This long-gone monetary system was known as the Gold Standard.

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” - Norm Franz

Naturally, the gold standard had severe drawbacks that limited the advancement of global trade. Gold was simply too heavy to move and thus the sheer cost of transferring value was too expensive. Additionally, gold was neither easily divisible nor an easy asset to safeguard.

It was only a matter of time before the gold standard would be set aside in order to supposedly pursue eased cross-border economic activity. This justification is, in fact, reasonable.

However, the inflation—robbing of the masses—that has followed the abandoning of the gold standard, is an issue that cannot be overlooked nor taken lightly. It is the key problem of the social status and wealth gap present in the world today as generational wealth has led to a few being able to beat inflation year after year. Due to compounding, this has led to a snowball effect where wealth has become increasingly concentrated among a few.

Pursuit of Solutions

Many economists have posed resolutions that would curb the deflationary nature of fiat. The problem, however, hasn’t been extinguished as most of the resolutions core around reducing surplus printing. A reduced rate of surplus printing is still surplus printing; it only slows down the deflation of fiat; this is not a solution.

Perhaps, blockchain is the solution.

Rebirth of the Gold Standard

A new fintech project, Kinesis, is creating a gold standard that retains all the benefits of the gold without any of the drawbacks. By tokenizing gold, Kinesis creates a currency that is backed by history’s most steadfast store of value.

Tokenized gold, though, is neither difficult to transfer nor hard to divide. In fact, the very nature of tokens, divisibility and ease of transfer, ensure tokenized gold is able to adopt the most advanced payment technology.

Kinesis is launching a new monetary system, one with its own gold-backed currency, with the payment terminal benefits of the Stellar blockchain, and incredibly low fees compared to established payment networks like Visa. Kinesis includes its own fiat gateway and its own Crypto-to-gold exchange, powered by ABX.com, the leading online physical gold exchange, which is also the sponsor of the Kinesis program.

Thus, Kinesis creates a system that innately allows anyone to mint the currency, as long as they can provide the gold to back it; this gold is then stored at an open network of trusted vault providers. This functions much like a DPoS consensus.

Creating Velocity of Money

In order to combat the problem of good money being held by the masses rather than being spent, Kinesis has created KVTs.

KVT is the utility token of the Kinesis ecosystem. The fees collected through the Kinesis monetary system will be largely given back to the Kinesis community, as long as they hold KVTs along with the gold- or silver-backed digital currencies. As KVTs reward people for spending their money, the masses are incentivized to spend gold, rather than just hoard it.

As the payment system has far lower fees than other e-payment providers like PayPal and Visa, the incentive to spend precious metal-backed coins will be even greater.

Get $10,000 in physical gold and silver to commemorate the new monetary system. This gold may very well be the gold you mint to create your own gold-backed digital currencies, spendable at any point-of-sale system across the world. Meanwhile, your KVTs would earn return the largest portion of the network fees.

$10,000 for YOU

Join the Kinesis community and win gold and silver!
Simply answer the Kinesis Gold Hunt quiz and you’ll stand a chance to win thousands of dollars in precious gold and silver.

Join the competition here.

First Prize: 100 gram PURE 9999 Gold Bar (~$4,300)
Second Prize: 5 kilograms of PURE 999 Silver BAR (~3,200)
Third Prize: 1 ounce Gold Bar (~$1,300)

3 Additional Winners: 10 grams of gold bullion each (~$430)

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