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Thomas Coughlin, CEO of KinesisKinesis
Does the world really need more cryptocurrency?
What would happen if there was a new monetary system designed to overcome the severe price volatility that made cryptocurrencies unattractive to use as an offer for traditional consumers: a digital currency anchored to gold rather than speculation?
The first three cryptocurrencies – bitcoin, ethereum and XRP – are all significantly out of their high prices, which were hit at the end of last year and at the start of 2018. & nbsp; To love them or hate them, they are part of our financial investment, and the trading landscape – now they have become mainstream, not least when Paris Hilton tweeted her 16 million followers on her cryptic investments.
With his father as CFO and the support of one of the world's leading digital precious metal exchanges, Thomas Coughlin's Kinesis money could be in the forefront of a new global monetary system? Is there a gap in the market for such a project?
The market reaction so far:
We all know that the ICO has been subjected to serious violence in recent times and that several have been proven as scams and billions lost in the money of credulous investors. However, Kinesis Money claims to be different from the rest and has already had an impressive series of fundraisers in what can only be described as torrid circumstances.
Indeed, Kinesis MoneyThe presale has raised over $ 55 million KVT (Kinesis Velocity Tokens). & nbsp; The public sale began on 10 September (ending in mid-March 2019) to date totaling $ 58,061,000 (USD) – KVT value (in total for combined pre-sale and public sale)
The ICO average (initial supply of coins) generates about $ 18 million with heavy marketing – Kinesis Money has quadrupled that and has not yet become mainstream with its marketing. & nbsp; Another factor makes this firm enterprise is that the infrastructure is fully developed.
Kinesis Money is entirely managed by Exchange of allocated ingots (ABX), an institutional market established in 2011 for the trading of precious physical metals, gold and silver, being two of the most stable and definable value stores, through seven global offices. & nbsp; For the benefit of Kinesis Money, ABX provides the complete infrastructure with the advent of blockchain technology and the introduction of cryptocurrencies. This gives it a distinct advantage over others encrypted in the gold space that simply does not have this support.
Thomas's father, Michael Coughlin, acts as the company's CFO was previously assigned to the cadet with the Australian Taxation Office in the early & 39 70s. Michael is also CFO of ABX and has a long career full of accounting and financial services.
We met Thomas Coughlin to talk about cryptocurrencies, the market and where he expects me to go from here.
You can not do much with a pound of gold that is stored in a vault somewhere. You can not monetize it or access the liquidity in terms of the value of the pound that is represented.
According to Coughlin: "We have seen the introduction of cryptocurrencies and the combination of a traditional resource like physical gold with a digital currency, as a great opportunity to return to being able to make gold transactions in an easy way. and efficient, using it as a medium of exchange. "
An incentive to spend and trade – turning it into an appropriate monetary system – rather than staying in a vault
To encourage users to send, spend and make transactions on the Kinesis Blockchain network, Kinesis has introduced a multi-faceted performance system that links 0.45% of each transaction to the network, depending on how they participated. For example, by depositing the physical gold in the Kinesis Vault network through ABX, converting it into Kinesis currencies and then sending it, spending or making a transaction, qualifying for a minimum yield, while others could obtain a pensioner or depositor's income. & Nbsp;
According to Thomas: "These mechanisms are designed to bring the metal into the Kinesis monetary system and then make it move, we do not want to have something that people are simply holding back in the way we saw with bitcoins, we have developed it to facilitate trade."
Kinesis Money opted to create a proprietary fork of the Stellar Blockchain Network to allow for extremely fast transaction speeds and a truly scalable global monetary system. Meanwhile, the Kinesis debit card allows instant conversions of Kinesis currencies in fiat currency anywhere in the world where Visa or Mastercard are accepted.
"Our goal is to create transaction speed and trade volume: this will become the new" gold standard "as we know it.We put gold and silver on the blockchain to create cryptocurrencies that allow people to instantly and efficiently send value to the world . "& Nbsp;
What do you think are currently the main challenges for the encrypted market?
"There are a number of problems faced by the crypto markets in recent times." Cryptocurrencies suffer a high volatility that makes it difficult to rely on these currencies as constant investments. "In addition to this, cryptocurrencies, for the most part, lack a intrinsic value that makes it difficult to distinguish a fair price.Today, they are simply slaves of the economic principles of supply and demand. & nbsp;
Coughlin explains that, as a result, most of the capital cap of cryptocurrency is often wiped out overnight, which further highlights the case of using a successful stablecoin with a tangible value, immune to such fluctuations.
Cryptocurrencies have not yet become an effective means of exchange and exacerbating this problem is the fact that they lack intrinsic value, which is the main factor that prevents them from being adopted by the mainstream.
"Cryptographic transactions are often time-consuming, with transactions that sometimes take hours, the tariffs to be treated can also be very expensive depending on the price of encryption, but the biggest problem is the difficulty that comes from extracting the cryptocurrency in the currency that can be used in the real world to be used at the point of sale to make purchases or to be collected as a fiat currency ". & Nbsp;
How do stablecoins lead to mass adoption of cryptography globally?
"The key to cryptocurrencies that are widely adopted is simple; they must be considered as a stable reserve of value. To achieve this, we have based our stablecoins on something extremely stable, such as precious metals like gold and silver. If the cryptocurrency is supported by a stable resource, the price of that currency will be reflected accordingly. If this currency can also be redeemable for the underlying asset, this will further assess the stability and trust associated with this currency. "
Above all, cryptocurrency users should have an easy and effortless way to liquidate their holdings in a widely respected currency, all over the world. Adding a debit card would be the ideal solution as it would give users the ability to send, spend or transact with these currencies in points of sale anywhere in the world, with a currency free of fluctuations, adds Coughlin. & Nbsp; & nbsp;
"Current stablecoins have many problems that affect their valuation and usability, which include counterparty risk, such as when the bank holding the dollar's support is considered insolvent and a lack of liquidity, or an arbitrary mechanism is used to maintain the price of the stablecoin in line with the price of the underlying asset ".
Why did you choose Stellar as a platform?
The reason we choose to use the stellar blockchain network is due to the scalability offered by the technology, which offers up to 3000 transactions per second at a very low rate.
These features have made stellar blockchain technology the most suitable option to support a global monetary system capable of withstanding the worldwide transaction of the user and the attachment support of a debit card.
The Stellar consensus protocol eliminates the need for resource-consuming and energy-consuming mining protocols, such as evidence of participation or job tests, such as the use of bitcoin and ethereum. This makes transactions slow and consumes a great deal of energy, Stellar has allowed us to avoid these pitfalls.
Your presale has been very encouraging: what are the next steps for the project?
"At the end of the pre-sale of our Kinesis Velocity Token (KVT) we had successfully sold over 50,000 KVTs, over 3 times higher than our assigned 15,000 KVT soft cap and we are on track to reach our 210,000 KVT hard cap before the sale will end on 18 March 2019. The next steps will include the issuance of our gold and silver coins, KAU (gold) and KAG (silver) and the issuance of the Kinesis (KCX) currency exchange, Kinesis Blockchain Exchange (KBE ) and Kinesis eWallet to the public in May 2019 ".
In addition, Coughlin has revealed that they will roll out the Kinesis debit card that will be in line with the development of global strategic partnerships and the integration of Kinesis technology to maximize the use of Kinesis currencies through retail outlets and customers.
In addition, Kinesis currencies, including KVT, will be released through third-party cryptocurrency exchanges to ensure the adoption and use of Kinesis currencies, which should result in continued growth.
"Our key strategies are to secure strategic partnerships and build a strong user base for our core technology, the Kinesis Blockchain Exchange, where our financial ecosystem will sit and people will interact and be able to coin their currency. fiat in digital gold and silver ".
This technology will serve as a simple and easy user interface that connects the everyday individual to the blockchain. This will give them the opportunity to create their own currency based on gold and silver allocated physical 1: 1. People can then start spending money on the inside of the ecosystem that generates a return on all the money spent, has added Coughlin.
What will 2019 bring to the crypto market? Will it be the year of the stablecoin?
"At the end of 2017 the world began to take note of the cryptic markets when Bitcoin prices soared because everyone wanted a piece of the cake, which seemed, and still seems to be the future of money, based on technological advances. Throughout 2018, cryptographic markets experienced strong volatility, with rising initial currency bids (ICOs), decentralized applications, dApps and cryptographic exchanges, all hoping to take advantage of the emerging industry to ensure investments and a strong user base As we approach the end of 2018, with markets once again in disarray, the cryptographic sphere remains questioned as to where to move forward.It has been evident that a vacuum has been created that can only be filled by projects that create stability in the cryptomercati ".
Coughlan explains that the Tether of the USD had significant success as the main stable currency between the stock exchanges and in the crypto markets, however, they were criticized and declared unreliable due to the failure of the audits. This has been widely dealt with in cryptographic printing and remains a matter of great concern for potential investors.
"Industry leaders, such as Vitalik Buterin, founder of Ethereum, believe that at this point, for the space in which we move forward, we need blockchain projects with applications in the real world.The next wave of cryptographic adoption will be built on useful applications. that offer value to people and we agree .This is why we have introduced a cryptocurrency that includes two of the most stable value reserves that the world has known, gold and silver " .
"So, to sum up, I firmly believe that 2019 will be the year of stablecoin and we hope to be at the forefront of making this a reality," concluded Coughlin.
& Nbsp;
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Thomas Coughlin, CEO of KinesisKinesis
Does the world really need more cryptocurrency?
What would happen if there was a new monetary system designed to overcome the severe price volatility that made cryptocurrencies unattractive to use as an offer for traditional consumers: a digital currency anchored to gold rather than speculation?
The first three cryptocurrencies – bitcoin, ethereum and XRP – are all significantly above their high prices, which were hit at the end of last year and at the beginning of 2018. Love them or hate them, they are part of our investment financial, investment and trading landscape – now they have become mainstream, not least when Paris Hilton tweets its 16 million followers on its cryptic investments.
With his father as CFO and the support of one of the world's leading digital precious metal exchanges, Thomas Coughlin's Kinesis money could be in the forefront of a new global monetary system? Is there a gap in the market for such a project?
The market reaction so far:
We all know that the ICO has been subjected to serious violence in recent times and that several have been proven as scams and billions lost in the money of credulous investors. However, Kinesis Money claims to be different from the rest and has already had an impressive series of fundraisers in what can only be described as torrid circumstances.
Indeed, Kinesis MoneyThe presale has raised over $ 55 million KVT (Kinesis Velocity Tokens). Public sale began on 10 September (ending in mid-March 2019) to date totaling $ 58,061,000 (USD) – KVT value (in total for pre-sale and combined public sale)
The ICO average (initial supply of coins) generates about $ 18 million with heavy marketing – Kinesis Money has quadrupled that and has not yet become mainstream with its marketing. Another factor makes this firm enterprise is that the infrastructure is fully developed.
Kinesis Money is entirely managed by Exchange of allocated ingots (ABX), an institutional market established in 2011 for the trading of precious physical metals, gold and silver, being two of the most stable and definable value stores, through seven global offices. For the benefit of Kinesis Money, ABX provides the complete infrastructure with the advent of blockchain technology and the introduction of cryptocurrencies. This gives it a distinct advantage over others encrypted in the gold space that simply does not have this support.
Thomas's father, Michael Coughlin, acts as the company's CFO was previously assigned to the cadet with the Australian Taxation Office in the early & 39 70s. Michael is also CFO of ABX and has a long career full of accounting and financial services.
We met Thomas Coughlin to talk about cryptocurrencies, the market and where he expects me to go from here.
You can not do much with a pound of gold that is stored in a vault somewhere. You can not monetize it or access the liquidity in terms of the value of the pound that is represented.
According to Coughlin: "We have seen the introduction of cryptocurrencies and the combination of a traditional resource like physical gold with a digital currency, as a great opportunity to return to being able to make gold transactions in an easy way. and efficient, using it as a medium of exchange. "
An incentive to spend and trade – turning it into an appropriate monetary system – rather than staying in a vault
To encourage users to send, spend and make transactions on the Kinesis Blockchain network, Kinesis has introduced a multi-faceted performance system that links 0.45% of each transaction to the network, depending on how they participated. For example, by depositing the physical gold in the Kinesis Vault network through ABX, converting it into Kinesis currencies and then sending it, spending or making a transaction, qualifying for a minimum yield, while others could obtain a pensioner or depositor's income.
According to Thomas: "These mechanisms are designed to bring the metal into the Kinesis monetary system and then make it move, we do not want to have something that people are simply holding back in the way we saw with bitcoins, we have developed it to facilitate trade."
Kinesis Money opted to create a proprietary fork of the Stellar Blockchain Network to allow for extremely fast transaction speeds and a truly scalable global monetary system. Meanwhile, the Kinesis debit card allows instant conversions of Kinesis currencies in fiat currency anywhere in the world where Visa or Mastercard are accepted.
"Our goal is to create transaction speed and trade volume: this will become the new" gold standard "as we know it.We put gold and silver on the blockchain to create cryptocurrencies that allow people to instantly and efficiently send value to the world . "
What do you think are currently the main challenges for the encrypted market?
"There are a number of problems faced by the crypto markets in recent times." Cryptocurrencies suffer a high volatility that makes it difficult to rely on these currencies as constant investments. "In addition to this, cryptocurrencies, for the most part, lack a intrinsic value which makes it difficult to distinguish a fair price.Today, they are simply slaves of the economic principles of demand and supply.
Coughlin explains that, as a result, most of the capital cap of cryptocurrency is often wiped out overnight, which further highlights the case of using a successful stablecoin with a tangible value, immune to such fluctuations.
Cryptocurrencies have not yet become an effective means of exchange and exacerbating this problem is the fact that they lack intrinsic value, which is the main factor that prevents them from being adopted by the mainstream.
"Cryptographic transactions are often time-consuming, with transactions that sometimes take hours, the tariffs to be treated can also be very expensive depending on the price of encryption, but the biggest problem is the difficulty that comes from extracting the cryptocurrency in the currency that can be used in the real world to be used at the point of sale to make purchases or to be collected as a fiat currency ".
How do stablecoins lead to mass adoption of cryptography globally?
"The key to cryptocurrencies that are widely adopted is simple; they must be considered as a stable reserve of value. To achieve this, we have based our stablecoins on something extremely stable, such as precious metals like gold and silver. If the cryptocurrency is supported by a stable resource, the price of that currency will be reflected accordingly. If this currency can also be redeemable for the underlying asset, this will further assess the stability and trust associated with this currency. "
Above all, cryptocurrency users should have an easy and effortless way to liquidate their holdings in a widely respected currency, all over the world. Adding a debit card would be the ideal solution as it would give users the ability to send, spend or transact with these currencies in points of sale anywhere in the world, with a currency free of fluctuations, adds Coughlin.
"Current stablecoins have many problems that affect their valuation and usability, which include counterparty risk, such as when the bank holding the dollar's support is considered insolvent and a lack of liquidity, or an arbitrary mechanism is used to maintain the price of the stablecoin in line with the price of the underlying asset ".
Why did you choose Stellar as a platform?
The reason we choose to use the stellar blockchain network is due to the scalability offered by the technology, which offers up to 3000 transactions per second at a very low rate.
These features have made stellar blockchain technology the most suitable option to support a global monetary system capable of withstanding the worldwide transaction of the user and the attachment support of a debit card.
The Stellar consensus protocol eliminates the need for resource-consuming and energy-consuming mining protocols, such as evidence of participation or job tests, such as the use of bitcoin and ethereum. This makes transactions slow and consumes a great deal of energy, Stellar has allowed us to avoid these pitfalls.
Your presale has been very encouraging: what are the next steps for the project?
"At the end of the pre-sale of our Kinesis Velocity Token (KVT) we had successfully sold over 50,000 KVTs, over 3 times higher than our assigned 15,000 KVT soft cap and we are on track to reach our 210,000 KVT hard cap before the sale will end on 18 March 2019. The next steps will include the issuance of our gold and silver coins, KAU (gold) and KAG (silver) and the issuance of the Kinesis (KCX) currency exchange, Kinesis Blockchain Exchange (KBE ) and Kinesis eWallet to the public in May 2019 ".
In addition, Coughlin has revealed that they will roll out the Kinesis debit card that will be in line with the development of global strategic partnerships and the integration of Kinesis technology to maximize the use of Kinesis currencies through retail outlets and customers.
In addition, Kinesis currencies, including KVT, will be released through third-party cryptocurrency exchanges to ensure the adoption and use of Kinesis currencies, which should result in continued growth.
"Our key strategies are to secure strategic partnerships and build a strong user base for our core technology, the Kinesis Blockchain Exchange, where our financial ecosystem will sit and people will interact and be able to coin their currency. fiat in digital gold and silver ".
This technology will serve as a simple and easy user interface that connects the everyday individual to the blockchain. This will give them the opportunity to create their own currency based on gold and silver allocated physical 1: 1. People can then start spending money on the inside of the ecosystem that generates a return on all the money spent, has added Coughlin.
What will 2019 bring to the crypto market? Will it be the year of the stablecoin?
"At the end of 2017 the world began to take note of the cryptic markets when Bitcoin prices soared because everyone wanted a piece of the cake, which seemed, and still seems to be the future of money, based on technological advances. Throughout 2018, cryptographic markets experienced strong volatility, with rising initial currency bids (ICOs), decentralized applications, dApps and cryptographic exchanges, all hoping to take advantage of the emerging industry to ensure investments and a strong user base As we approach the end of 2018, with markets once again in disarray, the cryptographic sphere remains questioned as to where to move forward.It has been evident that a vacuum has been created that can only be filled by projects that create stability in the cryptomercati ".
Coughlan explains that the Tether of the USD had significant success as the main stable currency between the stock exchanges and in the crypto markets, however, they were criticized and declared unreliable due to the failure of the audits. This has been widely dealt with in cryptographic printing and remains a matter of great concern for potential investors.
"Industry leaders, such as Vitalik Buterin, founder of Ethereum, believe that at this point, for the space in which we move forward, we need blockchain projects with applications in the real world.The next wave of cryptographic adoption will be built on useful applications. that offer value to people and we agree .This is why we have introduced a cryptocurrency that includes two of the most stable value reserves that the world has known, gold and silver " .
"So, to sum up, I firmly believe that 2019 will be the year of stablecoin and we hope to be at the forefront of making this a reality," concluded Coughlin.
