Bringing the blockchain to Islamic finance.

[spinnycat]

Is this the same project with halal coin

   No, what we are going for here is more a platform than a coin.

Really interesting project Semaforo, and as someone who travels to SE Asia alot, can see potential for the market there especially with mobile payments, with Indo and Malaysia. Wishing you the best, Indonesian is my second language, so there are better forum members for the translating to assist, but if I can help in some other small way give me a shout.

[1714045962]

1714045962

[semaforo]

eye4bd, thanks for helping with that image? Any opinions on this symbol as a logo for ummati?

  Spinnycat, kutangerterbang, and eye4bd, thank you all for your support and encouragement!

[semaforo]

   Just an update, the initial patent is filed for the ummati platform concept, now we need help figuring out exactly what kind of blockchain we are going to need to build it on!

   If anyone wants a copy of the pdf of the patent, feel free to message me!

[semaforo]

Update:

      White paper is nearing completion, but it is so long, few people would probably be willing to read all of it. Ideal would be to make a really excellent animated explainer video that can explain with eye catching colors what the core innovation is under 2 minutes. To do this right is going to cost some money, unless any animators are interested in helping prepare for an ICO?

   Also we've obtained the url ummati.io. Logo design is underway.

[elelegzet]

 Nice. Keep us updated. I think the very chance that an animator would be interested in this project at this stage is extremely low, I wouldn't expect this possibility. some crowdfunding and commercial order might work out for this aim. 

[semaforo]

Nice. Keep us updated. I think the very chance that an animator would be interested in this project at this stage is extremely low, I wouldn't expect this possibility. some crowdfunding and commercial order might work out for this aim. 

   Thanks for the advice. Any suggestions on how to go about crowdfunding at this stage? ICO is more of a long term project, also we're still debating whether to issue a token on etc or eth, or start our own blockchain.

[semaforo]

UPDATE

    We now have a twitter account, please follow us!

@UmmatiProject

And a telegram channel

@ummatiplatform

t.me/ummatiplatform


  Please subscribe!

   Also, after extensive debate on which blockchain to use, we may have arrived at a breakthrough solution, which is to create a new consensus protocol on a native blockchain. For more details join our slack or telegram groups.

  Spread the word- the value of a blockchain is in the community that uses it!

[spinnycat]

UPDATE

    We now have a twitter account, please follow us!

@UmmatiProject

And a telegram channel

@ummatiplatform

t.me/ummatiplatform


  Please subscribe!

   Also, after extensive debate on which blockchain to use, we may have arrived at a breakthrough solution, which is to create a new consensus protocol on a native blockchain. For more details join our slack or telegram groups.

  Spread the word- the value of a blockchain is in the community that uses it!

Thanks Semaforo and good work on the whitepaper ! Still following this and will be sure to invest in the first release.

[StreakW]

i muslim too, i think this is interesthing project
do u have whitepapr, website or anything. bounty maybe??

[semaforo]

i muslim too, i think this is interesthing project
do u have whitepapr, website or anything. bounty maybe??

  We are currently working on the website. We have a filed patent for the structure of the process, and a draft of tve whitepaper. You could join our slack or telegram channel or pm me and I can send the patent and the draft of the whitepaper via whatsapp ir email.

[kaltun]

i muslim too, i think this is interesthing project
do u have whitepapr, website or anything. bounty maybe??

  We are currently working on the website. We have a filed patent for the structure of the process, and a draft of tve whitepaper. You could join our slack or telegram channel or pm me and I can send the patent and the draft of the whitepaper via whatsapp ir email.

if you are genuine about this, then count me in also ..

so many scammers come before, hope your riable......

[semaforo]

i muslim too, i think this is interesthing project
do u have whitepapr, website or anything. bounty maybe??

  We are currently working on the website. We have a filed patent for the structure of the process, and a draft of tve whitepaper. You could join our slack or telegram channel or pm me and I can send the patent and the draft of the whitepaper via whatsapp ir email.

if you are genuine about this, then count me in also ..

so many scammers come before, hope your riable......

     I was affiliated with the Islamic Bank of Bitcoin before, which was the first cryptocurrency Islamic finance project in the world.

    We ran into issues with our profit model- it wasn't really halal. So we suspended operations. I tried to come up with a new profit model at the time, but there was not really enough support to implement anything.

    Now the situation has changed due to advances in colored coins, decentralized exchanges, and smart contracts, so I think we have a real, viable model. We will get the draft version of the whitepaper up on the website asap. I may post a copy here just in case. But what I hope you'll notice is that there is real innovative substance to this proposal. Meaning, this is not just 'bitcoin with a spin for Islamic banking' but it is an actual original proposal with unique value.

    Also we are being fully transparent about our identities.
  We have a good marketing guy (Jeff), a tech guy (Kevin), and myself, the overall strategy and Islamic finance guy (Ibrahim) and we are all putting ourselves out there and starting a crowdfunding campaign to try to raise funds for an explainer video.

  I'll link to the crowdfunding campaign when it's live, probably some time next week

   Anyway, kaltun thanks for your interest, I hope you will consider joining the slack group.

[kaltun]

i muslim too, i think this is interesthing project
do u have whitepapr, website or anything. bounty maybe??

  We are currently working on the website. We have a filed patent for the structure of the process, and a draft of tve whitepaper. You could join our slack or telegram channel or pm me and I can send the patent and the draft of the whitepaper via whatsapp ir email.

if you are genuine about this, then count me in also ..

so many scammers come before, hope your riable......

     I was affiliated with the Islamic Bank of Bitcoin before, which was the first cryptocurrency Islamic finance project in the world.

    We ran into issues with our profit model- it wasn't really halal. So we suspended operations. I tried to come up with a new profit model at the time, but there was not really enough support to implement anything.

    Now the situation has changed due to advances in colored coins, decentralized exchanges, and smart contracts, so I think we have a real, viable model. We will get the draft version of the whitepaper up on the website asap. I may post a copy here just in case. But what I hope you'll notice is that there is real innovative substance to this proposal. Meaning, this is not just 'bitcoin with a spin for Islamic banking' but it is an actual original proposal with unique value.

    Also we are being fully transparent about our identities.
  We have a good marketing guy (Jeff), a tech guy (Kevin), and myself, the overall strategy and Islamic finance guy (Ibrahim) and we are all putting ourselves out there and starting a crowdfunding campaign to try to raise funds for an explainer video.

  I'll link to the crowdfunding campaign when it's live, probably some time next week

   Anyway, kaltun thanks for your interest, I hope you will consider joining the slack group.

thx for the reply , where can i find the slack invite? 

if you want i can do the dutch translation ( i even dont have to be payed , but its always good to be get payed for your efforts  )

i am watching this thread also

[semaforo]

i muslim too, i think this is interesthing project
do u have whitepapr, website or anything. bounty maybe??

  We are currently working on the website. We have a filed patent for the structure of the process, and a draft of tve whitepaper. You could join our slack or telegram channel or pm me and I can send the patent and the draft of the whitepaper via whatsapp ir email.

if you are genuine about this, then count me in also ..

so many scammers come before, hope your riable......

     I was affiliated with the Islamic Bank of Bitcoin before, which was the first cryptocurrency Islamic finance project in the world.

    We ran into issues with our profit model- it wasn't really halal. So we suspended operations. I tried to come up with a new profit model at the time, but there was not really enough support to implement anything.

    Now the situation has changed due to advances in colored coins, decentralized exchanges, and smart contracts, so I think we have a real, viable model. We will get the draft version of the whitepaper up on the website asap. I may post a copy here just in case. But what I hope you'll notice is that there is real innovative substance to this proposal. Meaning, this is not just 'bitcoin with a spin for Islamic banking' but it is an actual original proposal with unique value.

    Also we are being fully transparent about our identities.
  We have a good marketing guy (Jeff), a tech guy (Kevin), and myself, the overall strategy and Islamic finance guy (Ibrahim) and we are all putting ourselves out there and starting a crowdfunding campaign to try to raise funds for an explainer video.

  I'll link to the crowdfunding campaign when it's live, probably some time next week

   Anyway, kaltun thanks for your interest, I hope you will consider joining the slack group.

thx for the reply , where can i find the slack invite? 

if you want i can do the dutch translation ( i even dont have to be payed , but its always good to be get payed for your efforts  )

i am watching this thread also

   Very happy to have you along! We will make sure everyone contributes gets compensated via tokens at the least. It may be a choppy process assessing how much each contribution is worth (generally people tend to place higher value on their own contribution because it seems bigger from their own perspective) but we will try to make sure we arrive at something that everyone feels is at least fair.

   If there are other expenses along the way, we can also band together and try to get fiat sent to where it needs to.

  We got a contribution from one of our advisors, Jeff Stout, who is the inventor of the blended agent contact center and has been developing arbitrage bots in recent years, to pay for professional graphic design for our logo and branding.

   The next priority is to create an animated explainer video to get people interested in the idea who would not make it through the white paper. We should be launching a crowdfunding campaign this week to make that happen.
   If anyone is putting considerable time and energy into this and has any issues like needing to pay some bills or something I am willing to contribute some fiat in emergency situations, but hopefully we can get some funding soon and have salaried positions.

  Hopefully we can create something like 12 salaried spots at $20k a year via a pre ICO round and have some code and some basic prototype in less than a year to launch an ICO. I hope we can have a successful ICO before the bubble bursts, so time is a factor.

[semaforo]

By the way @kaltun I'll send slack link via PM.

[semaforo]

**********UPDATE************

  Good  news, we have a mathemetician onboard to model our algorithms! We also have a similar project in conventional finance, topl, who agreed to let us fork their codebase, so we don't have to start from scratch.

Also we have someone who has built the algorithms for several coins who has agreed to help us formulate a theoretical sketch of the new consensus protocol.

  On the marketing front website should be live within the next couple of days, and we also have a blog now. Oh yeah and a logo!

   Please anyone who would like to contribute to the blog PM me!

[semaforo]

[semaforo]

By the way, the link for the blog is

https://medium.com/ummati

Check out an article I wrote

“Do Muslims need their own cryptocurrency?” https://medium.com/ummati/do-muslims-need-their-own-cryptocurrency-9b7ff4c7e01d

Also, any opinions on the logo?

[satria33]

By the way, the link for the blog is

https://medium.com/ummati

Check out an article I wrote

“Do Muslims need their own cryptocurrency?” https://medium.com/ummati/do-muslims-need-their-own-cryptocurrency-9b7ff4c7e01d

Also, any opinions on the logo?

I think Muslims should have their own crypto currency and give a sign that Muslims exist, and nice logo

[semaforo]

By the way, the link for the blog is

https://medium.com/ummati

Check out an article I wrote

“Do Muslims need their own cryptocurrency?” https://medium.com/ummati/do-muslims-need-their-own-cryptocurrency-9b7ff4c7e01d

Also, any opinions on the logo?

I think Muslims should have their own crypto currency and give a sign that Muslims exist, and nice logo

  Thanks Satria, are you interested in joining us on slack?