By OneGram you can of the sharia in crypto act
A number of different bank buildings in Dubai are large safes, containing pounds of gold. That gold should be strict Muslims, who want to live according to sharia, allow to act in cryptocurrencies.
Forbidden
If you closely at the Islamic law of sharia law, then you may not act in cryptocurrencies. For this is the trade in those coins far too risky: the value can be from one day to the next doubling or halving. If you're in crypto coins acts are you according to sharia, a gambler and gambling is prohibited.
You also may not interest questions while that happens almost everywhere in the global financial system. Another obstacle for Muslims who want to act in crypto is that crypto coins have no intrinsic value. A crypto-token is a file, that you can put on a usb stick. It is worth something because the traders there to self worth. Just like that paper money is worth something because we believe it has value and that have agreed with each other. (Formerly you could submit your paper money still at the bank for gold. But that can no longer since the 1970s.)
According to sharia, you may only pay by things that also really what, such as gold, or food. Euro coins would still be OK, because a two-euro coin, for example, consists of copper, nickel and brass. But crypto is nothing but a file. Therefore, correct strict Muslims do not participate in the crypto hype
Halal crypto A group of Arab bankers this year saw his chance and founded the Islamic crypto coin OneGram on. They find that also people who want to live according to sharia should be able to enjoy the benefits of the block chain technology that for the trade of the Crypto coins is used. So can you with block chain faster and cheaper money transfers in the system is less susceptible to fraud.
It's a simple tweak. Each crypto currency pair them to a gram of gold, which in the safe at the airport of Dubai. You can submit your crypto coins to give you gold.
Because it is linked to gold, the price is also more stable. According to the founders OneGram completely sharia-proof: no one pays interest, there is hardly any speculation and they divide the profit.
Large pot
Every time you buy a coin is 1 percent of the revenue in a large pot. 70% of them will be used to buy more gold. That gold is again for anyone that OneGrams property, and therefore all owners more gold for their OneGram.
But then the OneGram-coin also no intrinsic value. It's only the gold that really what's worth, and not the cryptocurrency – which will always be a derivative. But last year the Sharia Gold Standard that gold also traded digital. And so should it just!
45 kilos of gold
The maximum number of coins that will be made is on 2,400,786 tokens. To ensure that there are also 24,000 kilos of gold really can be retrieved, the founders have made agreements with the online platform for gold trading GoldGuard. You can redeem tokens for gold. We now have 45 kilos of gold ingots circulated about banks in Dubai for the 44,000 OneGrams that can be exchanged.
In the white paper that he wrote for his crypto currency, says founder and banker Ibrahim Mohammed that most Muslims have "no idea" that the coins that they use is not allowed by the sharia. Let alone all the way through grounds how the crypto coins. The founders of OneGram say besides against VICE shariamunt the euro or dollar that the Money should not replace, but just an addition.
Thus, the Islamic banking – that by the economic success of countries such as the United Arab Emirates and Malaysia is on the rise – now also the crypto world. There goes global again some two trillion dollars to almost in the Islamic financial sector: about half of what the U.S. Government spends annually. The PVV will there not so happy with, because they think the Islamic banking can ensure that Islamic terrorism will be financed. But if that was all an increased risk, then it could with Bitcoin even though – though it was perhaps haram.
