Even though cryptocurrency has shown so many developments compared to several years ago, it still has plenty of shortcomings. One of the main issues that the older cryptocurrencies fail to address is compatibility with Sharia law. Sharia law is one of the most important aspects of world’s economy nowadays and more than 20% of world populations live in a country which is governed under Sharia law. It makes the journey to make cryptocurrency becomes more mainstream even more difficult.
Thankfully, everything will start to change thanks to the invention of OneGram. OneGram is a new cryptocurrency that is designed with Bitcoins spirit at its heart, but in the same time, it also compels with Islamic values, making it the first cryptocurrency that caters the need out of both world.
OneGram’s Compliance to Sharia Law
Basically, there are three very important values under Sharia economy. Firstly, financial transaction that involves too much speculations and risks are prohibited. Secondly, unjustifiable income is also prohibited, and under Sharia law, interest is considered unjustifiable income. Thirdly, instead of interest, this law encourages profit and loss sharing that will benefit all parties involved.While other cryptocurrencies, and even fiat currencies, actually failed to compel with Sharia Law, OneGram is very different. Just like what the name of the coin suggests, each OneGram Coin is backed by one gram of gold. Since the price and value of gold is pretty much constant and stable, investing and making money from OneGram involves very little risk. It means, this coin compels with the first Sharia law that has been mentioned above.
Furthermore, when you are making a transaction with OneGram, you will be charged with 1% transaction fee. Seventy percent of the fee then will be reinvested to fill the vault with more gold. The extra gold then will be used again to back the coins. As a result, the coins will be backed with more gold and make the value of the coins increased. This practice complies with the second and third rule. Instead of getting interest, all the users will share profit due to the increased gold in the vault as well as increased value of the coin.
Sharia law also has some regulations to determine what kind of things is eligible to be called money. Some of them are it has to be made of precious metal, it has to be abundant, and it also must have intrinsic value. OneGram checks all the boxes on the list. It is backed by gold so it can be considered money and has intrinsic value. Moreover, there are 12,400, 786 tokens distributed so it is abundant.
OneGram Team
Team Member- Ibrahim Mohammed, Founder
- Mohamed El Abbouri, Co-founder
- Maryam Nawaz, Operations Director
- Mlik Ilyes Mourad, Senior Cryptocurrency Developer
- Ferdous Bhai, Technical Team Lead
- Matthew Mili, Product Designer and Full Stack Developer
- JF Hotte, Marketing and Business Consultant
- Sophie Gagne, UI Designer
- Louis Eric Simard, Security Expert
Advisors
- Adam Richard, CEO of Volt Markets, Partner at Sutton Stone, Founder of Houston Bitcoin Meetups
- Sheikh Abdulkader Amor, CEO of Al Maali Consulting Group, Islamic Financial Advisor
- Amadou Ba, CEO at African Business Partners Network, Strategic Advisor Investment and industrial developpement for emerging markets
- Giulio Prisco, Consultant, Previously Founder and CEO at Metafuturing SL, R&D Manager at European Union and European Space Agency
OneGram Roadmap
GOLDGUARD PARTNERSHIP
GoldGuard is licensed with Dubai Airport Free Zone (DAFZ) to trade jewelry,namely gold. Established in 1996, within the boundaries of Dubai International Airport, DAFZ is one of the fastest growing Free Zones in the region.
ONEGRAM INITIAL COIN OFFERING (ICO)
Only 12,400,786 coins are available in total. The ICO starts on May 21, 2017 and will end when all coins are sold. 100% of all coins are distributed during this ICO stage.
TESTNET LAUNCH OF OGC
The test network for OFC transactions will be launched.
BLOCK EXPLORERS
We will launch Multiple implementations of OneGramCoin block explorers with complete REST and websocket APIs, allowing our users insight into transaction propagated on the blockchain.
Official Link
| Website | http://onegram.org |
| Blog | https://onegram.org/blog |
| https://twitter.com/OneGramNews | |
| https://www.facebook.com/OneGramCoin | |
| Slack | http://onegramslack.herokuapp.com |
| https://www.reddit.com/user/OneGramOfficial | |
| GitHub | https://github.com/OneGramTech |
| Whitepaper | Read Now! |
| Announcement | https://bitcointalk.org/index.php?topic=1884084.0 |
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