OneGramCoin - The first true "Gold Standard Crypto"
The first gold-backed cryptocurrency is a great addition to anyone's digital portfolio. Each OneGramCoin is backed by a minimum of one gram of gold, making it intrinsically linked with the spot price of physical gold. As OneGramCoin is used, the gold it represents will grow and potentially increase its value as a gold-backed cryptocurrency.
"Main criticism of cryptocurrencies is lack of enough transparency. There are no rules, regulations, authorities. So this situation led me to consideration: the oldest form of money is gold. Whenever the market is going down, collapse or there is a danger or a worry, governments and everybody believe in gold. So why not to take the oldest form of money, which is gold?"
- Ibrahim Mohammed Khan
Countries no longer back their currencies with commodities anymore - the pounds sterling and United States Dollars we use as money today, are in fact just currency. Since the United States cancelled the convertibility of the United States dollar to gold with the "Nixon Shock" in the 1970s, national currencies have had freely floating exchange rates. These rates have been mainly dictated by central banks' monetary policies.