Thomas Coughlin: Building a Golden Payment System

• Palisades Gold Radio
  Tom welcomes Thomas Coughlin, CEO of Kinesis Limited and Allocated Bullion Exchange, to the show. Thomas discusses how Kinesis was formed out of Allocated Bullion Exchange which started taking form after the 2008 financial crisis. At the time, counterparty risk was substantial, so they built a facility to allow allocated metals ownership. To subscribe to our newsletter and get notified of new shows, please visit http://palisadesradio.ca​
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  They wanted to combine the blockchain with metals to have a digital exchange, so they started Kinesis. He discusses Gresham’s law and the need to build and incentivize the utility of their system. They use an incentive system where a portion of paid fees for services is returned to the users. Thomas explains how the system works from signup and why they require KYC to use all of the platform’s features. They are working on a debit card program that allows users to utilize the system for everyday payments. They support several cryptocurrencies on the exchange, along with several fiat currencies. With these, you can effectively purchase gold and silver in the system. Their pool of metal works in an allocated manner, and they have a facility that will allow a user to hold unique bars on a segregated basis. He says, “Ultimately, this will be a way to monetize your bars and coins.” Thomas details how their minting process and exchange work in creating and converting assets. They currently hold in physical approximately 1.3 million ounces of silver along with 25 million dollars in gold. He notes they are still in the startup phase of their operations. They also permit physical delivery subject to some minimum account holdings, and he outlines the redemption process. Time Stamp References:
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  0:00​ – Intro
  1:01​ – What Kinesis Solves
  7:42​ – Using Kinesis
  9:43​ – Transferring Assets
  10:48​ – Metal Holdings & Title
  12:55​ – Debit Card Usage
  15:00​ – Kinesis Metal Holdings
  16:24​ – Yield System
  23:14​ – Fees, Mint, & Exchange
  25:42​ – Merchant Accounts
  26:30​ – Uses of Tokens
  28:59​ – Indonesia Project
  34:27​ – KYC & The Unbanked
  36:33​ – 2021 Roadmap
  39:53​ – Trading KVT
  41:24​ – Blockchain Details
  43:24​ – Physical Delivery
  45:00​ – Wrap Up
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  Talking Points From This Episode
  – Foundations of Kinesis
  – Metal Holding, Currencies and Debit Card
  – Details on their yield system and blockchain.
  – Kinesis Roadmap for 2021

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