North Korea Jitters... Gold+Blockchain = Financial Security?
Tensions Rising, Nervous Money
You've no doubt heard all the recent saber-rattling between the U.S. and North Korea by now. In times of heightened tension, with the possibility of warfare on the horizon, gold is widely recognized as a safe bet. Investors flock to gold as secure place for their money while other markets are uneasy, increasing demand and driving up the price. Aside from this, gold has been considered a valuable resource across the world for millennia and has many uses.
The Modern Investor
Since you are reading this on Steemit, the blogging platform powered by blockchain, chances are that you are looking beyond traditional investments. Although Bloomberg is reporting that digital assets like Bitcoin and Ethereum may be safe havens in case of a severe downturn in the market, we know that these digital tokens, ultimately, are just bits and not a true store of value.
But what if we applied blockchain technology to the gold market? Imagine a digital currency that is actually redeemable for real gold!
Introducing OneGram Coin
OneGram Coin is a new digital asset that is backed by gold. Like other blockchain-based coins, they can be traded on open market and their actual value will fluctuate... but they will never be worth less than the real, physical gold you can redeem them for! 1 OGC = 1 gram of gold.
Initial Coin Offering Ends September 24, 2017
During the ICO period you will pay a 10% premium for OneGram coins. This extra cost goes towards the startup expenses and administration.
Sharia Compliant
One very unique feature of OGC is the fact they are Sharia compliant. At its core, Islamic finance prohibits unjustified enrichment, as well as engaging in transactions with excessive risk or speculation (such as gambling), in order to establish justice and avoid exploitation in business transactions.
$100 of Bitcoin Bought in 2010 Now Worth $4.3 Million
Not convinced of the potential value in cryptocurrencies? Just take a look at this chart (click for larger, interactive view):
Truly amazing, yet dangerous considering that Bitcoins have no physical backing!
Getting Started in Crypto-Gold
Sound interesting? Here's what to do next:
- Read the OneGram Coin whitepaper and FAQ to understand more details of the operation.
- Sign up at GoldGuard to purchase your OneGram coins backed by physical gold!
Please be aware that there are risks in every investment, and OneGram Coin is no different in that regard. As a fairly new operation, only time will tell how successful this venture becomes. Click through the links provided above, peruse their website, and use your own judgement. I am not affiliated with OGC or GoldGuard in any way but I have made my own small purchase. As always, never invest more than you can afford to lose.
Good post, gold will always be a natural haven for investors, what have to work digital assets is trust, because there is still a lot of resistance to incorporate investments in this world of crypto currency, greetings!
Are bitcoins considered Sharia compliant?
Thanks!
I'm no expert, so here's an excerpt from their whitepaper:
Bitcoin obviously fails test #1 and probably fails #4 and #5 as well, so I'd have to say that no, Bitcoin is not Sharia compliant.
Thank you for commenting!
Yes... specially the #1... that one we can't do anything about that! However, the #4 and #4... I think you can debate it... you can consider that BTC has intrinsic value and... What is "exists in creation and is made valuable by God"? Metal coins are also created by us right?
Intrinsic means it has a natural value, so I don't think it qualifies for #4. But you are right, #5 is definitely debatable, as we exist in creation, made valuable by God, and so by extension you could say that anything we create would count.
Yes... I see what you are saying...