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Thread: Kinesis

  1. #31
    Quote Originally Posted by kfarnan View Post
    Any point of control will fail. These ICO's will fail because they aren't organic.
    Looks like another bitconnect scam using pm's to back a scam coin.
    Listen to the pitch

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  3. #32
    Thanks Timosman

    4 Jun 2019 - The Blockchain Commission for Sustainable Development is hosting its second annual Blockchain for Impact Global Summit at the United Nations.
    The host, S. Fernandez de Cordova, co-founder of the UN Commission, is also a member of kinesis advisory board. Kinesis Ceo talks at 30 and 50

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  5. #33
    looks like a banker created scam to control.

  6. #34
    Ponzi schemes are supposedly illegal.

  7. #35
    Here is a comprehensive list of points to check out while pondering about buying a gold-backed stablecoin

    Due Diligence on Gold-Backed Stablecoins

    1. Can the cryptocurrency be converted into physical gold on demand? How easy is the process?

    2. Does the company disclose how it stores the gold?

    3. Who is storing the gold that backs the cryptocurrency? Is that company trustworthy?

    4. Is the gold insured?

    5. Does the company have a well-known and reputable auditor? If the company is not audited, then it can easily issue more tokens than gold, thereby creating fractional reserves.

    6. What happens if the company goes bankrupt? Is it a limited liability company that could leave investors empty-handed?

    7. What blockchain are the gold tokens built on? Is that blockchain secure?

    8. Do you know how to store the private key to the wallet that controls the gold tokens? What happens if you lose the key? What happens if the key is stolen?

    9. Gold-backed cryptocurrencies are similar to ETFs, which may make them subject to securities laws in Europe and the US. Is the company selling the cryptocurrency regulated? Does it store the gold in a country that has approved their token?

    10. Where can the gold-backed token be traded? Gold ETFs are traded on exchanges, but there are currently no cryptocurrency exchanges that are licensed to trade tokenized ETFs.

    11. How much liquidity does the gold-backed cryptocurrency have? Can you really close a position in case of a liquidity trap? The largest gold-backed cryptocurrency, Digix Gold Token, has a small daily trading volume of USD 243,000 over the past year, and USD 27,000 over the past month.

    12. What is the total expense ratio for the tokenized shares of the gold fund? The most famous gold ETF, SPDR Gold Shares, has a management expense ratio (total fund costs / total fund assets) of only 0.40%.

    13. What is the business model of the coin? How do the people who created the coin make money? If there is not a clear way that they are profiting, then be suspicious of indirect costs or high risk.

  8. #36
    whenever a currency is pegged to another asset, it will be problematic for many reasons.

  9. #37
    Kinesis Engages Contis Group to Launch UK and European Debit Card for Its Digital Gold and Silver Currencies

    London 4th June 2019

    Today, Kinesis Money announces the initiation of its UK and EU debit card program with Contis Group, the award-winning platform as a service (PAAS) that provides end-to-end banking and payments solutions. Kinesis has selected Contis for its European and UK debit card solutions and has officially started developments, scheduled for release in Q4.

    The release of these EUR and GBP-denominated debit cards will cement Kinesis’ position in the market as a formidable global fintech player. The Kinesis debit card will allow Kinesis’ clients in the UK and Europe to easily and efficiently use their Kinesis currencies to make purchases anywhere that has a merchant facility, as well as withdraw funds via global ATM networks.

    The new debit card is to be powered through a partnership between Kinesis Money and Contis which enables customers to leverage their extensive partner network. Contis Financial Services Ltd is authorised by the Financial Conduct Authority.

    The Kinesis debit card is set to be integrated into the highly anticipated Kinesis Monetary System, scheduled to launch in Q3 2019, providing seamless spending and management of the Kinesis, blockchain-based, gold and silver-based currencies.

  10. #38
    Kinesis, Indonesian Government Postal Service (POS Indonesia), the world’s third largest Post Office and OZL Liechtenstein, to launch the first and only purpose-built bullion vault in Indonesia

    London 28th June 2019

    Kinesis has been closely following the development of new regulation in Indonesia as they hope to assist in the implementation of a monetary system to assist the unbanked and underbanked population in Indonesia.

    A key component of the new gold trading regulation in Indonesia (February 2019), with inputs by Kinesis, states that any online or exchange-based physical gold trading product must be deliverable and physically located in an Indonesian vaulting facility. Currently there is no purpose-built bullion vaulting facility in Indonesia, despite being in a major gold demand and trading centre with over 160 mt/yr gold production, 75+ mt/yr domestic demand and a 100 mt/yr capacity LBMA-approved gold refinery.

    Kinesis has partnered with Offenes Zolllager in Liechtenstein AG (OZL) and the Indonesian government to construct a high security, best-in-class vault facility to house the physical metal used in the Kinesis Monetary System and the Allocated Bullion Exchange (ABX) / Jakarta Futures Exchange (JFX) shariah compliant, spot physical bullion exchange. This will serve as the central bullion hub in Indonesia for both conventional and shariah compliant bullion.

    In accordance with the new regulation, Kinesis, OZL and the Indonesian Government Postal Service (PT POS) are planning to develop, build and operate an international standard vaulting facility in Jakarta.

    Additional stakeholders in the project include, Jakarta Futures Exchange (JFX), government clearinghouse Kliring Berjangka Indonesia (KBI) and religious organisation – Nahdlatul Ulama (NU) who have 100+ million members.

    PT POS Indonesia is the state-owned postal service in Indonesia and third largest postal service in the world, in terms of number of offices and sales outlets (over 58,000).
    In addition to delivering postal services, they are also the largest non-bank financial institution in Indonesia, providing payments, cross border remittances, micro-loans and other financial services.

  11. #39
    Gold and silber becoming money again,
    the revival of the Gold Standard starting among the unbanked and the underbanked population.
    What a surprise

  12. #40
    Kinesis to launch new bullion-backed monetary system in Indonesia.
    Expansion built on close partnership and collaboration with Indonesian Government, Regulators, and key organisations, including the creation of Indonesia’s first bullion vault.

    Although the country holds tremendous economic potential, particularly in relation to its young and burgeoning middle-class, two thirds of its 260 million citizens don’t have a bank account. On the other hand, gold is a major part of the nation’s savings culture, and is regarded as a legal investment under Sharia law (Indonesia has the largest Muslim population in the world). Kinesis’ monetary solution is well-tailored to these circumstances.

    Gilarsi Setijono, President Director at PT POS Indonesia comments:

    “Gold is a very important investment and savings asset class in Indonesia across all segments of society and the first and only purpose-built vault facility will give significant access and confidence to the market. This vault project together with Kinesis and OZL, as well as other government-related gold savings initiatives, will be of long-term benefit to Indonesia and Indonesian citizens.”

    Stephanus Paulus Lumintang, President Director at Jakarta Futures Exchange, comments:

    “JFX is committed to providing the best solutions and services in the futures and derivatives industry. It’s increasingly become clear to us that the benefits of distributed ledger technology, or ‘blockchain’ will unlock tremendous amounts of value for Indonesia and Indonesian people. Blockchain regulation in Indonesia is currently in progress, and it is quite an important, yet difficult task. However, JFX is ready to be a blockchain exchange company in Indonesia, in compliance with any legal and regulatory requirements.”
    “Our future partnership with Kinesis and ABX will enable us to not only tap into these advantages but to create a secure and transparent blockchain network that provides a credible alternative to existing systems of exchange.”

    Kinesis ICO is planned for the 1st September
    - 15
    Last edited by Paul799; 08-17-2019 at 02:03 PM.

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