2018 is a historic year in the world of cryptocurrencies when Simone Orso a top full-stack developer with more than 15 years of experience working on a variety of projects like blockchain technology, PHP, JavaScript frameworks, founded the KaratCoin that focuses on the development and mining growth of carefully selected gold mining companies. The KaratCoin platform will help investors to be able to exchange Karatcoin tokens, trade gold certificates together with saving and exchanging currencies with the aid of gold cards. This will impact positively to the economy because its financial services are decentralized so worrying about being trace on exchanges or trade done on the platform is already taken care of. Gold mines that are linked to the Karatcoin platform will receive financial assistance that will help them increase their gold production, which will in turn raise the value of Karatcoin as more the gold are being produced through the mines. Individuals who mine gold or small gold mining companies who are having issues with trading their gold outside their country will be given a big aid as their gold will be coined KCG and be placed always on the decentralized market to be bought and sold anywhere in the world.
THE PROBLEM WITH GOLD/MINING
Gold demand worldwide is ever increasing therefore the old mines cannot meet up with the needed supply, especially when big orders are being made due to so many factors which includes; political, environmental, economic and technological. And most persons who buy gold just hold them unnecessarily even when they don’t make any good use of them, believing it is an asset that is not a liability to anyone, so it can be kept for as long as they wish. Also policymakers with monetary policy will continuously affect the demand of gold worldwide most especially as the US Dollar is the reserve currency of the global market.
Mining although might have a positive impact to the community where it is done but the negative side is mind blowing since it has displaced so many from their homes and make them vulnerable to harassment from governmental securities, together with internal crisis because almost all of them suffer from the mining but not all of them benefit from it, their health and livelihood has also have its downside with access to clean water and providing of food for their families becomes more and more difficult as these mining is carried out. Most wildlife has also faced their own downside because of gold mining as they watch helplessly their habitat being destroyed before their own eyes. According to the U.S. Environmental Protection Agency, it is estimated that more than 24 miles of streams that holds the world largest sockeye salmon fishery will be destroyed in Alaska Bristol Bay because of gold and copper mining that they want to carry out there. So small communities that depend solely on fishing will see how their means of livelihood is being taken out from them as they battle environmental pollution from the emission of greenhouse gases and toxins released from wasted ore.
WHY KARATCOIN FOUNDATION
Most persons today on earth put their money in the bank because they feel it is the safest place to keep it, but Karatcoin is even safer because unlike the banking system it is decentralized and operates an automated system, which allows for buying and selling of properties, shares, exchanging of money or any valuables in a transparent way with no conflicts or problem without the help of a middleman or organization. Karatcoin tokens are gold deposited under a safekeeping arrangement and to ensure that the gold is gotten responsibly and ethically the Karat foundation is following the UN Guiding Principle on business and human rights. To help protect the environment Karatcoin foundation is paying more attention to people under extreme poverty with child labor exploitation and women abuse.
The Delegated Proof of Stake (DPoS) consensus mechanism that will be used by the Karatcoin will make it one of the fastest, most decentralized, most efficient yet flexible network ever known to man. The number of gold that Karatcoin foundation holds will be checked monthly by an external auditor and the gold asset registry will be updated for the purpose of transparency and it being a public notice to all members
Rewards and Fees
2.5% to 3.5% is being paid each time an individual sells or buy gold at the quoted buy and sell prices, also 0.12% is being paid per year for storage and insurance while incentives are being given in form of credit to users of the platform to apply against storage fees, which means that whenever someone is active on the platform he is free of charges but only pays whenever he is inactive for a long period of time.
CRYPTO-ASSETS
• KARATCOIN TOKEN
This is the token that will be used on the Karatcoin coin blockchain network for payments of goods and services also this will give owners the right to vote, and also be used to validate blocks on the blockchain.
• GOLD CARDS
Gold products are stored inside a personal wallet represented by the gold card in the Karatcoin blockchain.
• GOLD CERTIFICATES
The gold certificate is made up of PoA information that is permanently uploaded into the database that is decentralized and is best for someone who wants a safe way to invest, with each gold certificate representing 1,000 USD of value.
TOKEN SALE AND DISTRIBUTION
Funds will be raised through a crowd sale of tokens, and this fund will be used for Karatcoin operations which include the issuance of Karatcoin gold cards, gold certificates, platform development, marketing and public relation together with expanding internationally.
Out of the 1 billion tokens that will be generated 37% will go for token sales and 33% to the foundation while 30% will go to the team and advisors. The 1 billion token is equivalent to $100,000,000.00 with 1 Karatcoin token equaling 0.1 U.S. dollar and this Karatcoin token can be exchanged for Ethereum. The 37% means that 370,000,000 tokens will be allocated for crowd sale which is to yield about $25,000,000.00, unsold tokens during the crowd sale will be transferred to a fund kept for charity by the Karatcoin foundation. As for the 33% that goes to the Foundation 19.8% will be used for development, 2.6% for liquidity, 5.3% for external technologies and another 5.3% will be used for contingency fund. Also the 30% that goes to the team and advisors have been allocated properly, 65 will be used to pay salaries to developers, 4.8% for financial salaries, 2.7% for office and indirect cost, another 2.7% for marketing and communication, 10.2% for founder (copyright and licensing) and finally 3.6% for advisors.
CONCLUSION
With the ever growing demand for gold which results in the growth of its value it is best for someone to think of investing in this line of trade, and now to make it even better and simpler for both investors and miners to trade easily with no third party interference Karatcoin Foundation will make everything easy and safe for all to be part of this breathtaking project that will transform the gold trade globally. In just one year the great milestone they have achieved together with their fast reaching goal gives one the confidence that this is really worth investing. You are warmly welcome to be part of this life changing project.
For more consequential information about this exceptional project, please consult the links below.
Website: https://karatcoin.co/
Whitepaper: https://s3-eu-west-1.amazonaws.com/karatcoin.co/files/docs/KC_WP.pdf
Medium: https://medium.com/karatcoins
Facebook: https://www.facebook.com/karatcoin.co/
Twitter: https://twitter.com/Karatcoins
Telegram: https://t.me/KaratcoinGroup
Author's Details:
BTC Username: Cryptowini
BTC Profile Link: https://bitcointalk.org/index.php?action=profile;u=2068163