The world of cryptocurrency is rapidly changing and evolving. Innovators and entrepreneurs are constantly introducing new cryptocurrencies, each promising new and varying characteristics to attract investors and users. Global official sector reaction to cryptocurrencies varies as the decentralized technology does not fit easily into existing regulatory definitions and structures. This sector will likely continue to be cautious as it monitors the risks to financial integrity, consumer protection, financial stability, tax evasion and treatment, and monetary policy. Leaders in regulation, like Japan, are likely to set the standard for the rest of the world in a scenario where the borderless nature of cryptocurrencies requires a cohesive and collaborative effort.
The cryptocurrency world is an unstable and volatile place, constantly shift between bear market and bull market periods. Some investors are taking advantages of this and others not so much. Reaching a stable value cryptocurrency has long been the target of many projects that aim to take crypto a step beyond just a middle of exchange and into the land of a store of value. If I put $10.000 into Bitcoin, ETH (Ethereum) or XRP (ripple) today, nobody can be guaranteed what it will be worth tomorrow which puts off businesses and everyday users that want to use crypto beyond just a speculative investment as a method to accept payments or pay salaries. Mass adoption is the ultimate aim for cryptocurrencies, but a stable cryptocurrency is needed in order to achieve that. Cryptocurrencies are reacting more like stocks and less like currency with their incredible volatility. They give more incitements to trade with them, not to pay with them. The concept of making a stable cryptocurrency is complicated. Many have tried to create such a coin and failed. In time the crypto markets will get well founded, leading to a more stable nature of the top cryptocurrencies. The crypto markets are becoming increasingly more competitive, because they are some of the easiest to trade on.
The justification for the big fluctuation of cryptocurrency prices is the supply and demand. The supply is more or less fixed but the demand is always changing due to people’s behavior and speculation. A normal currency can have a broad use, it can store value and be a unit of exchange. You can’t have a currency that isn’t backed by value. Fiat currencies are collateralized by assets and gold. If they weren’t, they would depreciate fast. Though most banks are printing money at some rate, the US dollar is the only currency that can be printed without limit from the US central bank. But the problem with printing infinite amounts of money is that they will depreciate, without being backed by value. The US dollar is experiencing something like this. Compared to the stable Euro, the US dollar is losing value at an alarming rate. A solution for this problem is currently being talked about and is planned for the future. But a solution for the stability of cryptocurrencies is something else.
With all of the talk of cryptocurrencies in today’s news, there are necessarily always going to be questions raised about “why does this have any value?” Even at face value, it’s definitely not the case when talking about cryptocurrencies as a movement generally, but even on top of that, there are certain cryptocurrencies that carry a lot more weight to them — and that’s where the INGOT Coin system comes into play.
Though there is plenty of fair skepticism of any new asset class in the expanding world of FinTech and cryptocurrencies, there are also certain coins that stick out a lot more than others. While plenty of coins and tokens rely mainly on public perception of value or speculation about the potential for value in the future, the INGOT family of coins is the first to come to the market to offer real, tangible value for the cryptocurrency.
INGOT Coin will create a complete solution by integrating 6 core ecosystem components and providing a one-stop-shop for the digital asset, traditional asset and currency markets to solve all the above-mentioned challenges, thus, creating a link between the crypto market and the traditional market. The IC Ecosystem will establish 6 different components to work hand in hand under one umbrella, providing all community members the chance to capitalize on upcoming opportunities in all markets. The Ecosystem’s components, as shown below, are the IC Wallet, IC Exchange, IC Brokerage, IC Digital Bank, IC Certifier and IC ICO Accelerator.
INGOT Coin will provide a platform that meets the needs of beginner as well as advanced traders to trade with minimal initial capital. IC will also provide its own cryptocurrency, which will be available on different exchanges for all investors and market participants to purchase. IC will show no bias towards any market participant and will provide fair and equal opportunities to all participants regardless of size of trade, type of order or initial capital.
To ensure no means for market manipulation and leakage of unethical or illegal money in the Ecosystem, the KYC and AML policies must suffice and exceed the needs of all parties, whether its regulators, banks, brokers or exchanges. The KYC and AML compliance may seem strict to some investors; however, this is a necessary procedure to ensure the safety of the Ecosystem and all stakeholders. This is done to make the Ecosystem trustworthy, secure, transparent and compliant; consequently, filling the Ecosystem’s singular KYC allows participants to open one account in the IC Digital Bank, the IC Exchange, the IC Brokerage, and the IC wallet simultaneously to trade crypto, fiat, and traditional instruments hereon after.