iKoin is On Its Way to Becoming Standard Currency for Global Digital Asset Management
An innovation is emerging in the blockchain space, and its goal is to bring tangible assets to the digital currency space. Right now, the valuation of digital currencies is spurious at best and dangerous at worst. Everything is speculation and as such, the prices are extremely volatile, with little sign of this changing any time soon.
For many of the doubters of Bitcoin (BTC), their prime criticism is the lack of real-world value to the coins. Everything is based on supply and demand, with little else to justify the massive price increases besides an increasing number of people believing they can make tons of money on it.
WHAT IF WE COULD CONNECT REAL-WORLD ASSETS VIA BLOCKCHAIN
To alleviate these worries, the best thing to do was to find a way to monetize the assets already present in the real world, and then market them online. iKoin is the first coin to be backed by tangible asset ownership. By having ties to the real world, iKoin can connect cryptocurrencies with a more stable value.
This connection is done by using a SDC (Smart Digital Contract) by BlockChain Manager, Inc. (BCM) which is a basket of goods fund, that uses iKoin. The value of iKoin is evaluated by the SDC, which releases liquidity at the same time as iKoin. This means that after anchoring with iKoin, the two major cryptocurrencies, BTC and Ethereum (ETH), will then become a reserve digital currency of sorts. The three digital currencies, iKoin, BTC, and ETH, altogether constitute a digital currency basket. The exchange relationship between them is adjusted every 15 seconds, offering a measurement of value to settle global digital currencies. This is a solid roadmap that indicates exactly where we would like iKoin to go in the next few years.
WHAT DOES IT MEAN TO BE A SETTLEMENT CURRENCY?
The term ‘settlement currency’ is thrown around a lot without people actually taking the time to understand what it entails in an economic sense. SDC, is a concept developed by BCM that was intended to move the world away from being dollar-based to having more of a worldwide currency.
SDC was conceived to be a direct competitor to this idea. It is expected to transcend the current fiat manifestations by combining digital currencies with tangible assets. The goal is that it will present an alternative to the dollar due to its improved stability and fungibility. USD can’t be spent everywhere and cross-border payments are hardly easy right now.
These are many of the reasons BTC has gained so much popularity, but BTC can’t be everything to everyone and that has left a hole open for iKoin to jump in. Right now, what is clear is that the BCM ecosystem is going to help it advance past the previous efforts in this space.
The BCM ecosystem handles the issuance of digital assets, the circulation of digital assets, and the settlement of digital assets. All of this is necessary for the monetization of physical assets and will help to tie the cryptocurrencies together with iKoin.
WHERE THE INDUSTRY IS GOING
The end plan is to have iKoin be the settlement currency and BTC/ETH be the units of barter. As a result, there will be an increase in the amount of iKoin being demanded, which will increase the value of it as well.
In the ‘3+2’ ecosystem, the ‘+2’ aspect refers to the BCM community and the specialized application/function platform. From examining how BTC has developed, it has been clear that for something to succeed, it needs both aspects. BCM and iKoin are intertwined ideas that will likely change the way we trade assets. If they can achieve their goal and become a worldwide digital settlement currency, there will be a massive increase in iKoin’s value. Investing in iKoin now makes sense for anyone who has questioned the intangibility of BTC but believes in the power of Blockchain.
The visionaries behind iKoin understood from the beginning that to achieve their goal they would need more than a simple coin or token, they would need an entire Eco-System. Not only to capture and monitor the underlying asset, but also to allow future movement of that asset (into and out of the digital universe), and even to anticipate the re-conversion of the coin back to the original asset at the behest of the holder. They also foresaw the problem of moving digital tokens to and from the banking (fiat currency) universe and planned accordingly for that too.
By anchoring itself to, BTC and ETH, the iKoin aims to become the premier global mechanism for digital asset distribution and settlement. This, in turn, distinguishes iKoin as the first standard digital currency, with the capability of global digital asset Exchange and Settlement (ES). This additionally permits the creation and function of the ‘Exchange Rate Index’ within the iKoin digital currency basket. iKoin, in this way, establishes for the first time a defined-value ES standard linked to traditional fiat financial digital tokens, to ultimately become a ‘true bridge’ to traditional financial systems. Over 100 banks worldwide have so far launched a digital asset ES system, constituting the beginnings of a digital asset ES network that will be global in scope.