[ANN] ADAB - First Islamic Crypto Exchange, based on the Shariah norms

[Aleksandra 81]

Today, there is a very big and tough competition in the field of crypto exchanges. The ADAB project really needs a lot of work to gain popularity among investors.

There are a lot of competitors now in the young market, even more than necessary. But the team must cope in order to continue to be an excellent exchanger for its people.

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

[JollyGood]

I have a question regrading this Islamic exchange system how you will monitor the source of income of any person. Maybe you post this answer before but hard to browse the whole thread. Only Muslim people will be able to trade there or invest in this project?

Thank you for your question. It is very nice and refreshing to finally read a post from somebody other than a multiple alias user that floods this thread.

With so many pages it stands to reason you would not be able to find what you are looking for especially with multiple aliases flooding this thread.

I asked this question some time back and clearly made a distinction between the two aspects. Well there are two steps regarding this project as mentioned in the link and your question is clearly an appropriate one to ask:
https://bitcointalk.org/index.php?topic=4720775.msg47019859#msg47019859

One being the actual process of anybody sending their funds to an existing exchange, either to trade for other coins or to ask for the funds to be invested. The other being people sending money at the ICO stage to participate in the creation of the exchange. On both counts it would not be an issue for this process to happen on every single exchange out there but when it happens in a Shariah or religious based project then various cautions and precautions (for vetting and monitoring sources of income) are paramount.

I look forward to the team members giving you a response.

[Freddy63]

Today, there is a very big and tough competition in the field of crypto exchanges. The ADAB project really needs a lot of work to gain popularity among investors.

There are a lot of competitors now in the young market, even more than necessary. But the team must cope in order to continue to be an excellent exchanger for its people.

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

Yes, here is a big difference. It is first time I face such exchange, so it is good that fresh ideas are being realised in crypto, but at the same time I don't know what to expect.

[Algrinys]

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

What are the main advantages of the future ADAB platform? Than this exchange will be better?

[Sevreki]

I have a question regrading this Islamic exchange system how you will monitor the source of income of any person. Maybe you post this answer before but hard to browse the whole thread. Only Muslim people will be able to trade there or invest in this project?

Not only Muslims can invest in the project, but at the expense of the flow of people, yes, I agree, you can simply do the verification for everyone

[oficman]

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

What are the main advantages of the future ADAB platform? Than this exchange will be better?

You should read about the advantages of the future ADAB exchange in the White Paper of the project. There the benefits are 100% described.

[JollyGood]

I have a question regrading this Islamic exchange system how you will monitor the source of income of any person. Maybe you post this answer before but hard to browse the whole thread. Only Muslim people will be able to trade there or invest in this project?

Here is what I posted earlier: https://bitcointalk.org/index.php?topic=4720775.msg47019859#msg47019859

There two things to consider....

First thing to consider: If the exchange has started. If the exchange is running as an active business, operating as any other exchange.

In the above scenario if a pimp or prostitute or drug dealer or brewery alcohol manufacturer comes along and opens an account at Adab Haraam exchange then that is one thing. The customer deposits for example Bitcoin, trades it for Litecoin and then again to Ethereum and then withdraws either to a bank with FIAT or to his desktop wallet, that is another thing.

In the posts by representatives of Adab Haraam exchange they have effectively said that: "if you have a business and a customer comes to buy something from you, you do not check their moral standing or ask where they got the money from. You take the money and sell them the item". That is true but this only one issue.



Second thing to consider: If there is no business. If the business does not exist. It is just an idea. (which is what this trio of a team from Kazakhstan have in Adab Haraam exchange)

If there is just a concept, an idea but no real business and you go around inviting people to invest in your business by helping it start up and then create the product with the actual funds received (in this case the ICO) then there is a problem. For example if you have a Shariah business which is printing and publishing Quran (or Bible or another religious book) then you cannot accept money from illegal, illicit and immoral funds.

In this case the purchasing of the print-house building and all equipment and all salaries and everything that eventually results in the Holy scriptures being printed cannot be done using money from illegal, illicit and immoral funds which might include from pimps, prostitutes and drug dealers. In that case a thorough investigation from each investor or prospective investor must be made.

What the Adab Haraam exchange team have said is that they are unable to vet every investor therefore they are not doing anything wrong. These fools think by playing ignorant they can claim it is acceptable because when they "trade" they assume the funds are from acceptable sources. What these fools are avoiding to answer is the ICO funding question because they are a bunch of profit seeking fools who will sell their own morals in order to confuse others.

[Sevreki]

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

What are the main advantages of the future ADAB platform? Than this exchange will be better?

You should read about the advantages of the future ADAB exchange in the White Paper of the project. There the benefits are 100% described.

Yes, in order not to ask a lot of questions, you just need to read the white paper for yourself, and then ask questions that were not understood

[Urakeavan]

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

What are the main advantages of the future ADAB platform? Than this exchange will be better?

Adab platform is made for the Muslim people, this is its particular nature, if I say something wrong, you can correct me

[oficman]

Will the project token be used somehow in the ADAB functionality?

[Urakeavan]

Will the project token be used somehow in the ADAB functionality?

I didn’t see any references in the technical document, maybe later, but this is a very small chance

[Tamandrac]

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

What are the main advantages of the future ADAB platform? Than this exchange will be better?

You should read about the advantages of the future ADAB exchange in the White Paper of the project. There the benefits are 100% described.

Simply, there are people who do not read anything and ask questions that are written in white paper, well, always

[minttop]

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

What are the main advantages of the future ADAB platform? Than this exchange will be better?

Adab platform is made for the Muslim people, this is its particular nature, if I say something wrong, you can correct me

Generally speaking it is for muslims, but it is not prohibited for ordinary people to participate in exchange activity, open accounts and so on.
As for me, I am not muslim and I will keep using Binance, Okex

[Tamandrac]

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

What are the main advantages of the future ADAB platform? Than this exchange will be better?

Adab platform is made for the Muslim people, this is its particular nature, if I say something wrong, you can correct me

Generally speaking it is for muslims, but it is not prohibited for ordinary people to participate in exchange activity, open accounts and so on.
As for me, I am not muslim and I will keep using Binance, Okex

And why is it bad that people of other nationalities will accept, because they can violate Sharia law?

[Xtonyonyack]

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

What are the main advantages of the future ADAB platform? Than this exchange will be better?

Adab platform is made for the Muslim people, this is its particular nature, if I say something wrong, you can correct me

Generally speaking it is for muslims, but it is not prohibited for ordinary people to participate in exchange activity, open accounts and so on.
As for me, I am not muslim and I will keep using Binance, Okex

The exchange is not bad, just heard from people, but I still like the concept of adab more like it, much more interesting

[Loxness]

Will the project token be used somehow in the ADAB functionality?

Perhaps in the future they will use the token, but there is no information about this yet.

[FlooMeer]

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

What are the main advantages of the future ADAB platform? Than this exchange will be better?

In fact, there are not many Advantages, but they are. For example: the potential of the Sharia market.

[Xtonyonyack]

There are many common cryptocurrency exchanges on the market, but the ADAB team developed the first exchange with a big difference. Therefore, strongly competitors will not interfere.

What are the main advantages of the future ADAB platform? Than this exchange will be better?

In fact, there are not many Advantages, but they are. For example: the potential of the Sharia market.

If such an exchange is in the first place, then the market potential will increase significantly

[JollyGood]

The flood continues

[Jonnicarri]

And we really hoped that this individual solved the issues with the team, but apparently not, he will still stand his ground, adab hold