KaratBank Coin (KBC) ICO Review – ICO Token News
Even today, the customers and merchants worldwide rely on the value of gold. In the past, gold, in the form of coins, was used as a direct means of payment. Today, gold still serves as a robust reserve for many central banks worldwide. Plus, gold has been replaced by bank notes that aren’t completely backed by state-owned gold. And the value of these national notes depends on the country’s ability to pay its bills.
However, that ability is swiftly declining; the trustworthiness of a legal tender, belonging to a less-developed nation, is moving toward zero. Now is there a solution to make payments through gold, which enjoys a more stable value than that of bank-issued bills? Well, there’s a solution found in KaratBank Coin—a form of crypto gold. The concept backing this project sounds quite interesting, and that’s why we’ve decided to review it and its upcoming ICO.
KaratBank Coin analysis
KaratBank Coin is a blockchain-based crypto coin that’s linked physically to the deposited gold; once the coin is linked to a specific weight of gold, it’s called CashGold. A specific number of KaratBank Coins can be exchanged for CashGold at any given time. In simple words, these crypto coins will be used as an electronic payment for everyone who knows that gold is a true, secure, traditional, value-stable medium. The best part is that this coin can be seamlessly exchanged for cryptocurrencies and fiat currencies worldwide—the exchangeability of this crypto coin will definitely fuel its value.
Talking of this crypto asset’s exchangeability, we can’t fail to mention that it’s designed to be easily transferred borderless, securely, cost-efficiently, and in real time. While every digital currency value is quite unpredictable, KaratBank Coin is different in a good way. That’s because this digital currency’s value is predictable as the gold’s value has a rich tradition of remaining stable; for this reason, the volatility factor associated to this crypto coin goes out the window. And this feature will definitely boost this coin’s market value to a whole new level.
This crypto coin, and its associated ecosystem, is being managed by KaratBars International. As per the project’s whitepaper, this holding company has attracted near about 480,000 customers who’re located in nearly 120 countries; plus, the company has even managed to raise USD 120 million. Since the holding company that’s backing the project looks quite stable, the coin definitely seems to be the next big thing in the crypto space.
This crypto coin is part of a big ecosystem that’s known as KaratBank ecosystem; apart from the coin, the ecosystem has the KaratBank eWallet and KaratPay. All in all, this ecosystem is designed to make sure that its users don’t have to rely much on any third-party crypto-service provider. Now, as the ICO list is getting populated by new crypto applications, it’s difficult for a development team to make its project stand out. With respect to that, let’s see all the top highlights that set KaratBank Coin apart from the rest.
KaratBank Coin innovation
For every crypto project—whether it’s DenCity or Savedroid—innovation is what matters the most. Well, same can be said for KaratBank Coin. The development team behind this project is pulling out all the stops to make KaratBank Coin unique and fresh in the best possible way. We’ve studied the project and are bringing a complete rundown on all the top innovations that it’s bringing to the table.
The development team has its own legal experts who’ll be analyzing the project in its early development phase. In case the project faces any legal uncertainty, the advisors will resolve it within a defined time frame. If a part, or service, of the project isn’t legally practicable or possible, then the team will work out a solution.
By solving any regulatory exposure from the beginning, the group will aim to build complete transparency between the regulators and investors. This move will definitely achieve and sustain the highest level of confidence and good faith among the ecosystem’s participants.
The development team working on the project will provide a complete reporting structure to the coin holders. This structure will, further, give all the KartaBank Coin holders an appropriate level of transparency in different processes including project-development status and ICO sale. All the latest tidbits of project-related information and the crowdsale will be published on the website as well. These fragments of information include the following ones.
Use of ICO proceeds
- Purchase of gold
- Platform development progress
- General expenses
Reporting the completion of different project milestones
Right now, the global payment architecture is quite fragmented, inefficient, time consuming, inhomogeneous, and expensive. That’s precisely because the traditional payment system is controlled by banks, and that’s how centralization is making things worse and slow for the economy. Now, this is what Karatbars International has noted—and its solution is its own ecosystem that’ll redevelop the importance of gold as a robust payment system.
Along with its native cryptocurrency, KaratBank Ecosystem will allow its users to pay for services and products anywhere, anytime. Apart from having KaratBank Coins, the ecosystem has another physical currency—CashGold. Now, CashGold will always be used as a robust gold-bearing note that’s quite similar to other bank bills. All in all, the ecosystem includes the following components.
- KaratBank Coin
- Karatbit Foundation
- KaratBank eWallet
- Karat Points of Acceptance
Building robust partnerships
The holding company behind this crypto coin is establishing a deep and broad network of fair organizers, media partners, service providers, advisors, and merchants. Every single partner of this network will actually be a business partner who’ll accept KaratBank Coins as a payment method.
This partnership, in turn, will successfully promote KaratBank Coin’s use and will boost its value. Plus, the partners of the network will receive an incentive of promoting this native crypto coin. Because of these partnerships, it is easier to believe that the value of the coin and its ecosystem will be strengthened in the coming time
Distributing the crypto coin
The distribution of these coins will be completely dependent on the market participants’ needs. The participants in the market, today, need a robust payment method whose value is stable and that’s generally accepted worldwide. Well, this native crypto coin is all set to meet these requirements to a tee. This coin is actually based on gold—a value-stable commodity that’s globally acknowledged and accepted. The gold that can be used for this purpose is the ecosystem’s in-house CashGold currency.
Also, more than 480,000 individuals will have already purchased small gold bars in the form of CashGold. The company that’s issuing these coins will have access to all the investors who own CashGold and who may be interested to buy these native crypto assets. Even the holding company will have quick access to the robust network that’ll list all the different prospect points. Also, the market of this coin will be assessed by the demand of gold—as a complete investment commodity—and its international prices. Further, even when the bank-backed bills’ future looks uncertain, the merchants will easily accept gold because of its high intrinsic worth.
KaratBank Coin ICO
The KaratBank Coin, also known as KBC, is built on Ethereum’s blockchain protocol (similar to Eligma, Fintechbit, Aktie Social, Qilin.Market, BunnyToken, EQUI, StarLight, Dentix). Which is why, the coin or token is quite safe, fast, and cost-efficient. Further, since the coin is based on this famous blockchain, it’ll even allow the use of smart contracts. (And, frankly speaking, smart contracts really make any form of transaction transparent by a pretty wide margin.)
This crypto coin-cum-token, which will be sold during the sale, will be distributed immediately to the mentioned address present within the KaratBank Coin Client Area. Furthermore, these coins will be accessible and visible in the owner’s KaratBank eWallet. So, the distribution and accessibility of the tokens are quite clear from the word go, and that’s a plus for many prospective investors.
The legal structure of the ICO sale will be consistently reviewed and approved by a number of legal advisors working with the Karatbit Foundation—this is a body that’s responsible for issuing KaratBank Coins, and it’s located in Belize. Also, every KaratBank Coin is linked with CashGold. Put simply, everyone who owns a KaratBank Coins can get them exchanged with CashGold anytime. However, the investor has to have a specific amount of crypto coins for the exchange to happen successfully.
KaratBank token details
- Ticker symbol: KBC
- Currency symbol: KBC
- Pre–ICO sale: From February 15, 2018 (00:00 CET), to March 21, 2018 (23:59 CET)
- Pre–ICO price: Starting from USD 0.01 to USD 0.04
- ICO crowdsale: From March 22, 2018 (00:00 CET), to April 19, 2018 (23:59 CET)
- ICO crowdsale price: Starting from USD 0.05 to USD 0.08
- Maximum KaratBank Coins mined (technical limit): 12 billion KBCs
- Maximum KaratBank Coins available for sale: 7.2 billion KBCs
- Fundraising goal: USD 72 million
- Maximum purchase: 1,000 KBCs
- Accepted currencies: BTC, ETH, and fiat currencies
- Bonus: Available
- Location Singapore
- Restricted regions: USA, Singapore, Canada, Socialist Republic of Vietnam, People’s Republic of China, Iran, North Korea, Syria, Sudan, and Cuba
Distributing the Karatbank Coin
As we’ve mentioned, 7.2 billion Karatbank Coins will be offered during the pre–ICO and crowdsale. The remaining crypto coins will be partly distributed among business and legal advisors, bounties, and team. Finally, the remainder of KBCs will be blocked and reserved. Below, we’re listing how the tokens will be distributed.
- Sixty percent of all the KaratBank Coins are reserved for sale presale and crowdsale.
- Ten percent of the crypto coins are assigned for rewarding the fans, teams, and club members.
- Again, ten percent of the coins will be given to referrals.
- Ten percent will be given to fair partners and media associates.
- The remaining coins will be made available for competence partners and legal experts.
Using the generated funds
All the funds that’ll be raised during the presale and the crowdsale will be used as follows.
- Marketing will get 50 percent of the funds.
- IT development and deployment will be entitled to use 10 percent of the raised funds.
- Any sort of legal advice and commercial support will get 10 percent of the funds.
- Blockchain engineering and testing will get 5 percent of the raised capital.
- Five percent of the funds will be reserved for meeting regulatory and licensing requirements.
- Five percent of the raised funds will be reserved for wages and salaries.
- Social media will get 5 percent of the funds
- Five percent of the funds will be kept in reserve
KaratBank Coin team
You pick up any crypto project, such as Giftcoin, Rate Date, EtherJack, Global Spy, Darico, Bountie, Fintechbit, and you’ll know that it’s supported by a robust team. And the same goes for KaratBank Coin—the team behind this crypto coin and its ecosystem is quite experienced. This team includes financial experts, blockchain specialists, international traders, and the like. The KaratBank team is working hard to make sure that it delivers the project as planned.
Summarizing KaratBank Coin
The development team of the project is quite upfront as it lists all the risks any holder of KaratBank Coin may have to face in the future. (The project’s white paper has two-and-a-half pages devoted to fleshing out all such risks.) Now, that’s seldom seen in any other crypto project that we’ve reviewed. Plus, the holding company is quite upbeat about its future; that’s why it has formed associations with top media companies and marketing firms. Also, the project’s tokens or coins will be promoted through multiple platforms such as social media apps and chat groups. Long story short, the project looks promising—but the fact that you should review the project website before investing in it remains unchanged. Yes, do your due diligence before transferring funds. That’s what every wise investor does, and that’s what you should do. And once you’ve done your complete project analysis and are absolutely satisfied, you should join the sale.