UAE launches the first Islamic electronic currency similar to the currency of Betcoin
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UAE launches the first Islamic electronic currency similar to the currency of Betcoin The paper currency is considered the only means to buy and sell anything for a long time, but after we appeared on the currency of Betcoin default, known for the currency of Betcoin encrypted virtual currency is a set of zeros and units express a certain amount is not subject to the Central Bank does not follow any state limit Itself.
With the age of digital currencies, we will now talk about a digital currency with Islamic standards. The new digital currency bears the name "Wan Gram Coin" and is issued in the United Arab Emirates.
The Islamic virtual currency was launched by One Gram, a specialist in financial transactions, which is not the first Islamic virtual currency but the first virtual currency based on gold in the world. This currency is the haven for investors, as the combination of gold and currency is a dream for investors, because gold is the only value that maintains stability amid the vibrations of paper currency.
Who launched the default currency?
This coin was launched in collaboration between One Gram, a specialist Islamic financial transactions company and Gold Guard, an online gold selling platform, following consultations between Sheikh Khaled Amer, CEO, and Richard Richard, executive director of Volt Market, Use of Bitcoin in America. Such as paper currency, a mass selling campaign should be launched. Only 12,400,786,000 won and Gram Quinn, the equivalent of 554 million US dollars, is the largest collective selling of virtual currencies. The campaign will last for 120 days. More than 1,000 people have participated in the campaign and the number is increasing. The CEO of One Gram says that the Middle East is witnessing a great growth in finance technology, which makes this Islamic default currency a step towards attracting investors to transactions. Islamic world in the Middle East and the world. The currency is banned in gambling, and the use of the currency is prohibited in the financing of loans. The currency has not been rejected by European countries, although they have not spread to those countries except some simple transactions in London.
"Wan Gram Coin" How it works with gold?
Each "Wan Gram Coin" expresses one gram of gold. Each transaction in "Wan Gram Coin" generates a small commission that is used to buy more gold, is increasingly traded and accordingly the amount of gold based on it increases, and of course, the number of investors working on it.
What is the technology used in "Wan Gram COIN"?
The "Coin Block" technology is the one in which Wan Qura Quin relies on data storage, which does not rely on centralized data storage, making it easy to handle data and transactions. It is worth noting that enthusiasts and developers are pleased to announce that the official code for Block coin will be released in an open source format. The API will also be launched for programmers, users, for easy development and effective handling of the currency. Each Block coin contains 1 mega of data that can be transmitted in less than a minute making it faster to handle. In the presence of gold depends on the currency? Initially, this gold will be in the UAE, but as the long-term goal of Wan Gram will be to not rely on one gold center, this will expand the currency-based decentralization in its dealings. "The currency is a combination of all the features you can get from currency, currency and gold, which are safer and stay away from governments for technology adoption and will be more reliable in solving economic problems.