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Author Topic: Islamic Coin- the Shariah-Compliant Digital Money for the HAQQ Ecosystem !  (Read 274 times)
wheelz1200
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January 21, 2024, 11:34:37 PM
 #21

I am thrilled to introduce Islamic Coin (ISLM), the native currency of the HAQQ Network,bringing a new era of possibilities for the global Muslim community and blockchain enthusiasts alike ! 🔥

No matter how I feel about religion, but all known attempts to cross religion and cryptocurrencies have always ended in scam. These things are not compatible and such statements in the description of coins are just trying to parasitize on people's faith and on various religious confessions. Someone just invented another clone of a famous coin and decided to wrap it in a religious wrapper for their own enrichment.

P.S. My post in no way offends Islam. It is only about cryptocurrency.

Agreed.  I don't know how religion and crypto coexist.  It's not like there is a religious financial instrument in the fiat world.  I fear that people use this to pull on people's heartstrings to extract money out of them.  What pro would there be to include the religion's name in the coin name other than to direct your marketing towards that group.  Hopefully it's not ill willed and this project doesn't scam people out of their money.
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January 22, 2024, 12:28:50 AM
 #22

I am thrilled to introduce Islamic Coin (ISLM), the native currency of the HAQQ Network,bringing a new era of possibilities for the global Muslim community and blockchain enthusiasts alike ! 🔥

No matter how I feel about religion, but all known attempts to cross religion and cryptocurrencies have always ended in scam. These things are not compatible and such statements in the description of coins are just trying to parasitize on people's faith and on various religious confessions. Someone just invented another clone of a famous coin and decided to wrap it in a religious wrapper for their own enrichment.

P.S. My post in no way offends Islam. It is only about cryptocurrency.

Agreed.  I don't know how religion and crypto coexist.  It's not like there is a religious financial instrument in the fiat world.  I fear that people use this to pull on people's heartstrings to extract money out of them.  What pro would there be to include the religion's name in the coin name other than to direct your marketing towards that group.  Hopefully it's not ill willed and this project doesn't scam people out of their money.


Not even mentioning that assuming somehow all scholars and high authorities within the Islamic world gathered together and all agreed that cryptocurrency is halal, then the purpose of this alternative coin would not longer exist. Because Bitcoin would be within the reach of any Muslim who was previously worried about the relation between cryptocurrency and Islam.
Also, I do not know whether this is a ill-willed project, but even if it was not, this one will probably end up as many other alternative currency projects have in the past and going to get flatlined after the public start to lose interest. In order to start and maintain a good project, developers need more than just good intentions. They need to solve a problem and this is a coin seeking for a problem to solve.

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January 22, 2024, 02:01:06 AM
Last edit: January 22, 2024, 02:50:22 AM by Sayeds56
 #23

HAQQ is a centralized platform or not? If your platform is centralized, then it is very bad, if your platform is decentralized, then after launching decentralized applications on it that work by analogy with credit products, your platform will no longer comply with Islamic requirements.
How do you plan to solve this problem?

You have raised genuine concerns from religion perspective as Using credit based products doesn't comply with fundamental principles of Islamic financial system, which is not based on interest and emphasizes on profit/loss sharing. The original poster (OP) need to provide detailed information about the plans and strategies to address these challenges without compromising on core Sharia compliance.

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