Orocrypt ICO to be the next gold backed cryptocurrency as investors begin to demand resource backed virtual money
BY KEN SCHORTGEN
TheDailyCoin.org
JUNE 13, 2017
First there was OneGram, which was a gold backed cryptocurrency that spawned out of Islam’s approval of gold investment through Sharia law financing. And this was quickly followed up by ZenGold, which is a secular based cryptocurrency that will also be backed by physical gold.
Now on June 12 the country of Panama is jumping on board the growing demand of investors who want to get into cryptocurrencies, but are wary of virtual money that is backed only by ‘Units of Electronic Work’.
As an investment, holding physical gold has always been troublesome. The fact that it needs to be stored in a safe place so that it can’t be stolen, misplaced or robbed has always been an issue. There is also the question of how to buy and sell gold with the assuredness that it is pure. Selling gold requires time, energy and effort and thus the liquidity of gold is certainly less than cash.
Now, however, Panama-based company Orocrypt is creating a “crypto-alternative” that will enable easier trading, holding and investing in precious metals, including gold.
Orocrypt is putting precious metals on the Blockchain
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