2018-9-22 00:00 |
The concept of asset-backed cryptocurrency is fascinating, they are coins that carry the value of real-world assets. Therefore, their prices are guaranteed not to drop beyond the value of the physical asset they are representing.
At the moment the popular physical assets that are utilized as a backing for tokens/coins are the precious metals. This metal include, gold, silver, and diamond.
Cryptocurrency and Precious Metals
A precious metal backed token could represent a particular gram of the precious metal. When this is established, a trusted custodian stores the amount of precious metal equivalent to the token bought by an investor. Hence, if there is an increase in the demand for the precious metal, the token will rise in value. But a decrease in the demand for the token, will not reduce its value beyond the precious metal’s valuation.
In 2017, the price of bitcoin was equivalent to the price of one ounce of gold. As a result, precious metal markets became interested in cryptocurrency and its underlying blockchain technology. A lot of similarities have been cited between cryptocurrencies like bitcoin and precious metals.
Like bitcoin, the precious stones market obey the supply and demand rule. When the maximum supply of bitcoin is reached, there would be no more bitcoin to mine. Therefore since there is no supply to counter the demand for the coin, its value will rise. Same applies to precious stones, they are rare metals. And at some point, they will no more be available to be mined. When this happens, they will only be supplied by those who have them in storage.
So we can conclude that one major factor that will contribute to the value of bitcoin and precious stones is their rate of supply. The rarest of stones are likely going to be the most prized assets in the future. And precious metals don’t come any rarer than osmium.
What is Osmium?
Osmium is one of the rarest of elements in the earth crust. It was primarily used as an alloy of other metals so as to make them durable. This precious metal is not allowed to be traded by private institutions because it is very toxic. When this metal is finely divided (powder form), it reacts with oxygen to form Osmium Tetroxide. This oxide is highly toxic.
However, there is a new way of making these precious metal safe for use. Osmium Institute Management has been able to create a highly technical process to crystallize Osmium. The crystallized form of osmium is very stable, therefore the precious metal is going to be a game changer in the nearest future.
Why Is Osmium Going To Be The King Of Precious Stones?
In its crystallized form, osmium is even more impressive than other precious metals used as jewelry. For example, osmium is twice as reflective as gold. Therefore, it’s going to be one of the most sought-after precious metals in the future. In addition, osmium can be crystallized into two and three-dimensional forms.
Another reason is that osmium is the rarest precious metal in the world. After 40 tons of osmium is sold, there will be no more in the market.
What is Oicoin?
Oicoin is an osmium backed ERC-20 token. Unlike other precious metal backed cryptocurrency, Oicon token holders will be giving a share in the revenue of the global sale of osmium.
I hope you notice that I wrote revenue and not profit? What this means is that you will be one of the pilots of the global osmium market.
Since Osmium Institute Management is the only company that knows the process of crystallizing osmium, you are assured of a front row seat when the revolution kicks off.
The post Oicoin: The Revolutionary Precious Metal Backed Token appeared first on ZyCrypto.
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