The general distrust in projects like Kinesis is understandable. It is inherent to human mentality to distrust something intangible, especially when it comes to something as precious as gold. This presents a paradox because people are willing to place trust in the ephemeral digital tokens, but they get suspicious when Kinesis tells them that these tokens are backed by gold and silver. Obviously, I am not that kind of a person, so I tend to believe in a good project when I see one. So, let’s load up on KVT.
Megan June 29, 2019 Reply
In my opinion, Kinesis represents the next stage of the development of stablecoins, where the coins are backed by something more valuable than fiat currencies, all which are totally phony. I’ve read their whitepaper carefully and got acquainted with the ABX exchange - everything appears to be legit. Just to be sure that they are willing to communicate with potential investors, I have sent an inquiry about the possible affiliation to both the project and the exchange.
Ruben June 18, 2019 Reply
Out of a plethora of projects that offer some asset-backed tokens, Kinesis appears to be the most legit mainly because they are cooperating with the established entity, the ABX exchange. But why on Earth would someone call gold a stable asset! It is enough to look at the 10-year gold price chart to see that gold is also prone to significant price shifts, they are just more spread over time. Besides, I haven’t found any information about the storage of precious metals and the appropriate security measures. Lastly, the price of KVT is really steep for a fledgling project. One would really have to place his trust in this project to pay $1K per token.
Lucy June 17, 2019 Reply
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