Currently, lots of challenges exist in the gold market globally. For instance, in the centralized market, the bond value has been reducing since the last decade and now sits at a low yield of 1.6% interest rate annually. Other problems in the market range from the scarcity of gold for investors brought about by high demand and low supply by gold mines to a lack of adequate security systems to store and protect investor’s gold. Karatcoin solves the problem of scarcity of gold by linking investors directly to selected gold mines hence eliminating middlemen. It also deploys smart contracts for managing transactions and provides bond yields of between 5% and 6% depending on durations.
- Eliminate intermediaries by linking investors directly to gold mines which have been selected based on their credibility in extracting gold. This will increase the supply of gold while also increasing the value of the Karatcoin which will be used for trading gold.
- Karatcoin offers a bond yield of 5% for a one year period and 6% for a five year period. The bonds will be issued in terms of a Karatcoin Gold Asset Certificate.
- Karatcoin allows you to convert your gold into Karatcoin tokens and use it to trade in the Cryptocurrency market.
The ICO Team
Claudia BusatoCo-founder/ Creator of Karatcoin
Possesses a master’s degree in marketing and communication from Bocconi University. Previously co-founded Dreammy in 2014 which developed new technologies and services for use on the internet. She is highly skilled in developing good business relations with financial institutions
He is a full stack developer who has worked on various projects for over 15 years. He previously worked at Sungold Srl from 2009 – 2012 as a management consultant where he spearheaded the adoption and use of solar energy worldwide
Jimmy SongSoftware Developer
He hails from the US and has a professional experience of 18 years working in a variety of industries as a full stack developer. He previously worked as a venture partner for at Blockchain Capital
Chris WagnerSoftware Developer
He comes from Canada and has a professional experience of 15 years developing software with a focus on web-based software development
Andras FuchsSoftware Developer
He comes from Hungary and he is a certified Microsoft .net framework applications developer. He has also worked as a technical consultant for various business organizations in various fields
Matthew KeasSoftware Developer
He comes from Houston, the United States and his role in the company is to actively contribute to projects in the company especially open source and community projects
potential/ use cases
Coin Supply/ Purpose
Wallets and Exchanges
Karatcoin is a gold-backed cryptocurrency project that aims to incorporate gold assets and certificates to the Ethereum blockchain.
Physical gold assets belonging to users are stored in a secure refinery vault and the owner is issued with a Proof of Asset document that certifies him/ her as the true owner.
This is a document that contains all the proof of asset information that has been uploaded into a decentralized system permanently. Each certificate has a value of 1,000 US Dollars.