User:Hirannor/OneGramCoin

OneGramCoin (shortly: OGC) is the first gold-backed Sharia-compliant cryptocurrency based on blockchain technology. The Forbes Middle East elected OneGram into the top 20 fintech startups in the Middle East.

History
OneGram company founded in 2017 in Dubai. They started to sell the coins in an Initial Coin Offering (ICO) between May and September 2017. After that they are offer the tokens, using another selling method. Once a blockchain is programmed and tested, the coin can be listed and accessed on public cryptocurrency exchanges.

Technology
OGC is secured by the most advanced security systems currently available called blockchain technology. A blockchain is a distributed database of transaction records. In cryptocurrencies like Bitcoin, blockchain is the ledger that contains a permanent record of all transactions. The transactions in a blockchain are grouped into blocks and each new block gets added to the blockchain in regular intervals. Once a transaction is recorded in a block, it cannot be retroactively changed without consensus from the entire network. A blockchain is decentralized. By storing data across a large network, blockchains eliminate the risks that come with data held in a centralized database, like theft, fraud and data loss.

OneGram utilizes the blockchain technology to issue a new kind of cryptocurrency where each coin is backed by minimum one gram of gold.

Each transaction in OneGram generates a small transaction fee. In case of OneGram this fee is re-invested to buy more gold to increase the amount of the asset-backing.

OneGram Foundation
A philanthropic part of OneGram is the OneGram Foundation (OGF). The foundation will take 2.5% from every transaction fee that OneGram products generate and donate it to charity. OGF will support charitable causes across the globe and bring relief to the lives of the less fortunate. OGF supports the principles of Islamic sharing and contributing to humanitarian causes.