A common argument against cryptocurrencies is that they aren't linked to anything with real value. That argument can't be used against Kinesis. It is a new blockchain project that sees value in keeping aspects of the old "gold standard." Think gold meets blockchain. With Kinesis, each fiat unit is backed 1:1 with silver or gold. The token owners (KUA for gold and KAG for silver) are the owners of the bullion yield.
Kineses hopes to help get rid our dependence on centralized banking, stop governments from creating deficits when they overprint money, form a better yield system than credit and borrowing networks currently provide, connect interest yields to physical assets, and make fraud and theft a thing of the past. It also has the potential to limit the volatility of cryptocurrencies as a reserve currency.
Kinesis is similar to Tether and this should help keep the price of KVT stable. An important step moving forward for all cryptocurrencies is to build trust and that is difficult to do with the current market fluctuations. It needs to get to a point where people stop holding their cryptocurrencies, hoping for a better selling market. The point is to actually use cryptocurrency. Kinesis will use ABX's Quality Assurance Framework for third-party auditing.
The Kinesis Velocity Token (KVT) is ERC20 compatible, which is good news for lovers of Ethereum. It will help raise necessary capital and holders of KVT will earn a percentage of the transaction fees. The public presale launches September 10th.
For more information on Kinesis, you can visit their website here
To learn more about @OriginalWorks and their contest for Kinesis, click here
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