The launch and Initial Coin Offering (ICO) of OneGram, the new gold-backed, is good news for cautious investors and digital money enthusiasts alike. In fact, OneGram’s unique value proposition combines a solid investment – gold – with full Sharia-compliance and the advantages of crypto-secured digital money.
OneGram, unveiled at a launch event on May 2 at Ritz Carlton, Dubai International Financial Center, has been covered by Forbes and Reuters.
OneGram Is Backed by Gold
At launch, each OneGram Coin (OGC) is backed by one gram of gold, safely held in vaults located within Dubai Airport’s high-security compound and operated by OneGram’s partner GoldGuard, a secure gold storage provider with a modern, streamlined gold trading platform. GoldGuard is audited by PwC and insured against theft and damage.
The total number of OGCs is fixed and won’t change after the ICO. OneGram can be used for digital payments, just like Bitcoin and other cryptocurrencies. When OneGram is used for digital transactions, the transaction fees (minus admin costs) will be re-invested to buy more gold. Therefore, the amount of gold backing each OGC will increase with time.
One gram of gold – or even better an ounce, or a ton – is a great investment in itself. In his best-selling book “The New Case for Gold” (April 2016), top financial adviser James (Jim) Rickards explains why one should invest in gold – not “paper gold” but real, actual, physical gold purchased from and stored by a reputable non-bank operator.
According to Rickards and other analysts, the price of gold will skyrocket to $10,000 per ounce (now it’s about $1,260, or $40 per gram) sometime in the next few years. Therefore, gold should form part (at least ten percent) of the portfolio of all cautious investors.
Three factors will contribute to boosting the value of OGC tokens: 1) the likely rise of gold’s price; 2) the increasing amount of gold backing each OGC; and 3) the market demand for OGC tokens caused by the other competitive advantages outlined below.
Of course, there’s always the possibility of a crash of gold’s price. But, while wise investors shouldn’t entirely rule out market crashes of any kind, a crash of gold’s price seems very unlikely. On the contrary, all seems to indicate that, due to the combined effect of different financial, economic and political trends, the price of gold will increase.
OneGram Is Fully Sharia-Compliant
If you aren’t a Muslim and don’t live in an Islamic region, the fact that OneGram is fully compliant with Sharia – the Islamic law – might not seem too important to you. But, please take my word for it, Sharia-compliance IS of paramount importance for Muslims and anyone who does business in the Islamic world.
OneGram is a fully Sharia compliant product designed to follow the three basic criteria for trading in Islamic finance: 1) There is no interest mechanism in the issuance of OneGram; 2) profit-loss sharing is part of the rewards scheme; and 3) there is minimal speculation as OneGram is an asset backed by physical gold.
The 1.6 billion Muslims make up over 23 percent of the world population and constitute a huge native market for OneGram. Some regions in the Middle East, such as Dubai, are financial powerhouses and hubs of growing importance. Therefore, even if you aren’t personally committed to Sharia, you should feel confident that growing demand from Islamic users and markets will increase the value of OGC tokens.
OneGram Is Modern, User-Friendly Digital Money
The OneGram creators are introducing a variety of user-friendly features and apps for rapid real-world adoption of OneGram as a currency. OGC tokens will be bought, sold and traded via the GoldGuard platform and the major cryptocurrency trading platforms.
A new payment gateway dubbed YallaPay will feature a modern, streamlined tool set for consumer and merchants alike. A rechargeable GoldGuard Mastercard debit card – the Liquid Gold card – will work globally in ATMs, physical points of sale, and online. Last but not least, user-friendly mobile and web apps will add quality to the OneGram experience.
These features will also contribute to market demand for OneGram and increase the value of OGC tokens.
The OneGram ICO
A total of 12,400,786 OGC tokens will be sold between May 21st and September 22nd and will be available for purchase on the GoldGuard’s website. This is the most ambitious crowdsale goal in blockchain history with a goal of raising more than $500 million. At the current spot price of gold, a sold out crowdsale would raise $554,910,372.