Gold-backed cryptocurrency used to attract Muslim investors

Gold-backed cryptocurrency used to attract Muslim investors

Assessment

Interactive Video

Science, Business

11th Grade - University

Hard

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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.

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2 questions

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1.

OPEN ENDED QUESTION

3 mins • 1 pt

What approval did the company obtain from the Islamic advisory firm regarding their cryptocurrency?

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2.

OPEN ENDED QUESTION

3 mins • 1 pt

What percentage of the planned amount of coins remains to be sold by the company?

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