Gold is now starting to circulate like a common currency. Thanks to the fusion of precious metals and Blockchain, everyone can use gold and silver with efficiency the world has never seen. You just have to learn more about virtual gold, for you to gain the perks it can provide.
The Birth and Rise of Virtual Silver and Gold
The value of gold is a common knowledge for everyone. Since the ancient times, people have been using it as one of the highest valued currency. However, it’s usage eventually fall, with the rise of modern coins and bills. After all, gold is surely expensive and inconvenient to mine and keep. Nonetheless, its value remains steadfastly rising, unlike other currencies which often struggles on various economic problems.
On the other hand, the Blockchain technology became popular because of BTC and other cryptocurrencies. This lets people transact using cryptos without hassles. Thing is, virtual currencies are often plagued with various issues, such as severe volatility and dependability on confidence for value.
However, Thomas Coughlin, CEO of Kinesis.money, have come up with the solution to harness the strength of precious metals and Blockchain. This is by combining Blockchain and gold into one medium, thereby letting gold to flow through Blockchain efficiently for transactions.
What Does the Merge of Gold and Blockchain Looks Like?
Basically, this fusion is all about storing gold and providing efficient methods for it to move. With virtual gold in KINESIS, for example, they store real gold and silver bullion in their own reserve and release its crypto counterpart on 1-is-to-1 ratio on the Blockchain.
People can then purchase crypto backed by precious metals, and use it for various transactions. Moreover, they can also choose to have the real gold or silver counterpart of their crypto by simply claiming it.
What are the Perks of Gold and Blockchain Fusion?
Cryptos backed by gold and silver could finally let precious metals back on the common market. Investing in it means you can have the real value of silver and gold as well. Moreover, the decentralized property of Blockchain provides premium security and anonymity on every transaction.