Why KELA Believes In Commodities For Cryptos
I’m going to remind you of a little something today. Every day the world is changing faster than the day before. Take money for example. Money used to be physical commodities that could be traded or used! The logic was (and still is as you will see), use what you need and trade the rest for other things you need. Then, as the world evolved, this method started to become too complicated for us as our “financial” requirements became more complex. So we started creating special pieces of paper which were used as money, aka cash. The paper itself had no value but once we printed it in a special way it could all of a sudden bring us the necessities and luxuries of the world.The cash could have more value than actual commodities! Why? Because we believe in the institutions that created them and have faith in them. We believe that they will be able to pay their debts and give us access to what is ours. But what happens if a large portion of people stop believing that to be true? Would you put your money in a bank which you thought would go bankrupt? Would you hold your money in the currency of a country whose economy was on the verge of collapse? No, you wouldn’t. Because unlike commodities there is no other use for the special printed paper. This is the reason the Gold Standard was created. Since cash itself had no value, the idea was for the cash to represent something which did have real value — gold.

Unfortunately, inflation came around at a massive rate and killed that. Inflation is not a problem we have to worry about with cryptocurrencies since it is unrelated to the government’s finances, export/ imports of a country, war, etc.
This means that cryptocurrencies are the perfect conduit for being representatives of a physical commodity!

People Are Losing Faith In Fiat Currencies
The value of fiat currencies is based on the faith we have in the governments issuing that currency and the financial institutions in charge of managing it. If tomorrow, the majority of people did not have faith in the governments ability to pay its debts, that currency would have no value whatsoever. Unlike the commodities that used to be traded. As an example, the Mexican Silver Peso existed for 170 years before it was demonetized (the equivalent of death for a currency) due to hyperinflation. 170 years!!!! and then it died. Let’s be brutally honest here, how many people today trust governments and large financial institutions to do what’s right for them? Not many. And that number goes down on a daily basis. This is the reason we believe in cryptocurrencies as the future for society.
So making the step from a cash society to a digital money society is a small leap (credit cards helped us with that leap). But why not combine the best of both worlds? Why not combine the future and the past to create an extraordinary present?
That is what we are doing here with Kela.

KELA — Merging The Past and The Future
We have created a digital coin which is backed by actual physical diamonds. This means that even if the world of digital coins should disappear, or the world as we know it should vastly change overnight, you will still be able to redeem your coins for something physical which has value. Just to be clear — we do think that digital currencies are the future but we prefer to plan for a worst case scenario.

Why are diamonds so valuable?
It’s not just because they’re pretty. Their beauty is just an added bonus.
Diamonds have uses in industry for machinery, precision work, medicine, food, energy and I’m sure in the future we will find even more uses for them. Diamonds are an incredible and magical commodity in the sense that they help us with so many of the issues that come up in our modern civilized and industrialized society.

But even if we were to go backwards in our world’s evolution, we would still have use for them.

That is why our entire financial ecosystem is built around diamonds.

That is why the price is pegged to the IDXUSD.

That is why we buy diamonds to give you the security that no matter what happens, even in the worst case scenario, you can redeem your coins and your investment still has value.

What are you waiting for? Be a part of something extraordinary!