GramGold is a global gold asset trading platform that is based on the Ethereum blockchain technology. While cryptocurrencies are making the inroads towards taking over the global economy, there is one problem that most cryptocurrencies fail to tackle: backing the value of the currencies with the value of gold, just like traditional currency.
GramGold foundation has developed a cryptocurrency that aims to solve the problem of over and under-pricing of gold with a decentralized and private exchange system as well as secure vaults and accessible ATMs to cash the currency.
Greedy intermediaries, manipulated exchange markets and unscrupulous and unfair dealers are primarily to blame for buying a gram of gold for too little and selling it for too much. The GramGold project is the first of its kind of cryptocurrency to come up with a proposition for an ERC20 token currency that is backed by the value of gold.
One of the best things about GramGold is that it aims to revolutionize how the value of precious metals is fused into the development of sustainable cryptocurrency. The GramGold Tokens (GGT), are custom developed on the safe and secure Ethereum blockchain that is a tradeable asset whose value is 10% backed by gold.
The GramGold Foundation intends to use the GGC to fund the training and support services for candidates who maintain the GramGold platform, its AuGram Scheme as well as the GramGold ATM and GramGold Foundation.
Features of GramGold
- GramGold will enable consumers from anywhere in the world to purchase, store, and sell physical gold. The GramGold Foundation will make it possible even for people not conversant with gold trading, and without access to significant disposable income, to trade in and invest in real physical gold using GGT.
- Since a GramGold Token is more than just a token but has an attached value of gold, it solves serious, pervasive problems that the global cryptocurrency market is currently facing: proof of the value of the currency. GramGold aims to eliminate the need for go-betweens in the gold trade while simultaneously establishing a dependable cryptocurrency with a real physical gold value.
- The AuGram scheme will make it possible for buyers of GGT to own gold at the right price. Sellers of recycled and scrap gold will be able to convert their earnings directly into GGT, and from there make use of the GramGold ATM or to turn the funds into other currencies or withdraw their profits to a bank.
GramGold GGT ICO Details
The GramGold ICO (Initial Coin Offering) runs between February 18 and April 30, 2018, where GramGold Tokens (GGT) is offered to start at $0.43 per GGT. The total number of coins available on the platform is 1 Billion GGT, but only 500 million will be available for sale during the ICO. Note that 50% of the tokens will be distributed to those taking part in the ICO, 35% will be the reserve fund, 10% will be allocated to the team members, and 5% will be the bounty.