Kinesis Money over the years has been keen on creating a superior or advanced alternative to the mainstream central bank-issued fiat money system. This firm resolve and determination to challenge how banks issue money have moved them to create a blockchain-based currency which is valued at 1:1 to underlying silver and gold holdings.
Having entered into a number of partnerships and collaboration with certain key players in the financial industry of the country, Kinesis is now set to launch its revolutionary project into the underbanked financial market of Indonesia. To make this possible, Kinesis Money has partnered with the Indonesian government, Jakarta Futures Exchange, state-owned post offices, and regulatory bodies.
What Is The Kinesis Monetary Or Financial System
Unlike any other thing you have seen, this currency has been designed to combine the convenience and flexibility of advanced and modern digital systems with the more advanced and older gold standard principle. Each piece or unit of the currency is valued at exactly 1:1 real gold and silver assets. Interestingly, users or holders of this currency have the right to redeem their currency holdings whenever they wish to.
Additionally, it has been designed to be as easy to use and spend as possible. Also, you can make use of any debit or credit card that is tied to a traditional bank to make the withdrawal even for smaller transactions as well as micropayments. The connection this currency has with real and physical assets like gold and silver is an added advantage. It gives it an edge over some of the regular cryptocurrencies which over time have proven to be as volatile as anything anyone can imagine. Additionally, high speed of processing transactions as well as lower percentage-based fees that are connected to real-world physical assets makes this currency ideal or suitable for everyone and for everyday use.
The currency serves as a way for potential investors who are keen on making profits to invest directly in these precious metals in such a way that they are able to generate profits or returns in the months or years to come. This is better than having and regularly incurring the cost of storing your money in the bank.
The exact need for this type of currency in Indonesia cannot be overemphasized. While the country has great economic potentials that are untapped especially in relation to the young and ever-growing middle class, about two-third (260 million) of the current population do not have a bank account. However, gold has been identified to be a major part of the saving culture of the country and have been regarded as a legal investment under the Sharia Law (surprisingly, Indonesia has the largest population of Muslims in the world). The Kinesis Monetary system which is set to be launched now is perfect for this country.
What Does The Indonesian Launch Mean For Kinesis Money?
To ensure that a favorable condition is created, Kinesis Money would have to work or partner closely with certain major players. It has worked with agencies as well as key stakeholders in the industry all for the purpose of;
- Working closely with the various regulatory bodies in the country to ensure that a favorable regulatory environment is created for all to work on.
- To ensure that it is in compliance with the new rule which states that physical exchange assets should be made deliverable in Indonesia. To comply with this, Kinesis is currently working with OZL to ensure that its purpose-built bullion vault is created to meet world standard.
- For distribution, Kinesis has partnered with a leading fin-tech in Indonesia, Bullion Ecosystem International.
This Expansion is built on close partnership and collaboration with Indonesian Government, Regulator, and key organisations, including the creation of Indonesia’s first bullion vault .