Interview: Karatbars CEO Harald Seiz Comments on Recent Scam Allegations

If in case you have been following crypto information, you’ve seen fairly just a few articles alleging that Karatbars is a rip-off. Coindesk just lately reported about Florida monetary regulators investigating KBC, which sparked a snowball of unfavourable publicity for the corporate. It’s solely truthful for a corporation to have an opportunity to defend themselves, whatever the accusations. As such we determined to ask Harald Seiz, the founder and CEO of Karatbars Worldwide concerning the allegations.

As I’m certain you might be properly conscious, CoinDesk just lately posted an article making quite a lot of allegations about Karatbars. How did this come about?

Sadly, this Coindesk article is simply the most recent in a string of makes an attempt to wreck the fame of Karatbars. Over the previous a number of months, there have been quite a few related posts spreading misinformation, outright lies and propaganda about Karatbars and its varied merchandise.

Precisely who’s behind this stays unknown, it might be an ex enterprise accomplice, competitor or virtually anyone with a vendetta and a few monetary backing. All we all know is that the majority, if not all of those claims are utterly unfounded and that we’re starting to take authorized steps to guard the model we and all our companions have labored so arduous to construct over these previous eight years. 

How do you reply to the allegations that Karatbars doesn’t personal a gold mine in Madagascar? 

Within the article, CoinDesk claims that they obtained a forwarded electronic mail from “third-party researcher,” which states that Fort Dauphin doesn’t exist as a gold mine in Madagascar. Nonetheless, opposite to the claims of the creator, the gold mine is, in reality, actual and is evidenced by a number of official paperwork which might be freely obtainable on our web site.

I encourage anyone studying to do their very own analysis and keep away from listening to sources that rely on rumour—proof is all the things.

What recommendation would you give to different manufacturers anxious about struggling related assaults within the cryptocurrency trade?

By working within the area for near a decade, and interacting virtually each aspect of the trade, we at Karatbars have constructed up a wealth of expertise when it comes to navigating what can typically be thought of a hostile panorama for brand spanking new tasks.

Nonetheless, new manufacturers and tasks could be involved about having their fame broken by a well-heeled competitor or disgruntled particular person, significantly when the attacker has maintained their anonymity.

Sadly, this sort of assault can solely be reacted to, fairly than prevented. Due to this, it is very important reply appropriately, by stating information, backing it up with proof and wrapping up any unfastened ends.

General, manufacturers want to easily do what they’ll to function with transparency, whereas being able to go the grassroots stage when coping with surprising, or unwarranted controversy.

The involved article describes a dispute between Karatbars and Quebec’s Monetary Markets Regulator. What are your feedback on the scenario?

I can affirm that there was a authorized dispute that went on between 2014 to 2016. The documentation from the court docket proceedings is publicly obtainable right here.

The article is true when it says that there was a scenario with Quebec’s Monetary Markets Regulators however ultimately, the matter was legally resolved in court docket in Karatbars’ favor—some extent that was conveniently lacking from the Coindesk article.

Elevated regulatory oversight might be something however detrimental to the general progress of this trade. So we welcome that with our arms extensive open and in lots of situations have taken the initiatives to have interaction varied governments from around the globe to work with us.

To ensure that the trade to actually blossom, crypto firms and regulators might want to work collectively, and there will likely be surprising hurdles alongside the way in which. At Karatbars, we’re completely satisfied to work with regulators, governments and NGOs to assist lay the blueprint for the remainder of the trade.

If it takes a few authorized disputes to get to that time, so be it.

The article makes an fascinating level about how most of Karatbars’ supporters are from the crypto-space. Why do you assume Karatbars doesn’t get pleasure from equally robust help from the gold-bug group?

The cryptocurrency trade is marred with scams and Ponzi schemes, and when folks uncover us they soar on board as a result of we are actually the gold customary of this trade.

As for why there are usually not sufficient conventional gold-bug people who help us, I feel this may be summed up by the truth that KaratGold Coin and CashGold are primarily designed to facilitate worth switch, fairly than long run holding.

And whereas we definitely have merchandise that enchantment to collectors and so-called gold-bugs, we don’t anticipate these to kind the vast majority of our prospects.

Lastly, are there any remaining phrases you want to go away with our readers?

Sure, I might identical to to induce readers to carry out their very own investigations and never be misled and manipulated by smear campaigns within the cryptocurrency area.

As now we have said many instances previously, Karatbars is totally clear with its operations. If anyone believes something stays unexplained or isn’t 100% clear, we encourage them to succeed in out to us and all will likely be made clear.

We’ve got an enormous data marketing campaign for traders, prospects, companions and media coming within the subsequent weeks. Preserve an eye fixed out.

About Tom Greenly

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