Gold-backed cryptocurrency used to attract Muslim investors

The video explores the compliance of cryptocurrencies like Bitcoin and Aetherium with Sharia law, which emphasizes economic activities based on physical assets. To address this, the startup OneGram has introduced a gold-backed cryptocurrency, where each unit is backed by a gram of gold stored in a vault. The company has received approval from an Islamic advisory firm and has issued tens of millions of dollars worth of currency, with 60% of the planned coins still available for sale.

What is a key requirement of Sharia law in economic activities?

• Speculation

• Physical asset backing

• High risk investments

• Digital transactions

What is unique about OneGram's cryptocurrency?

• It is backed by real estate

• It is backed by a gram of gold

• It is not backed by any physical asset

• It is backed by silver

Where is the gold backing OneGram's cryptocurrency stored?

• In a bank

• In a digital wallet

• In a vault

• In a safety deposit box

Which organization approved OneGram's cryptocurrency?

• A government agency

• A financial advisory firm

• An Islamic advisory firm

• A cryptocurrency exchange

What percentage of OneGram's planned coins are still available for sale?

• 60%

• 50%

• 70%

• 40%