HAWALA.TODAY — See it for yourself

Do you want to know what it is?

The name HAWALA is quite a clever one, especially when discussing it in the context of a new Crypto Currency. The person who came up with this name for a crypto clearly has a deep understanding of the ancient concept and aims to solve many of the difficulties associated with it through this breakthrough application that is known as HAWALA.TODAY

But to reach a meaningful understanding of what this is about, we need to take a detailed look at what it is and what it means. So, in the spirit of the Matrix, and as Morpheus enquired of Neo, I will assume that you want to know what it is.

So, what does it mean?

HAWALA, as it turns out (and annoyingly, they didn’t teach me this when I was studying for my degree in Finance at University), refers to an ancient underground system of remittance outside of the banking system (that is outside of the Matrix if you will).

Definition from Allwords.com


- an old-established, informal system of money transfer from India and the Middle East, still in use by migrant workers.

The Difference Between Money and Currency

Now, before moving on, let’s address an important distinction between currency and money. Currency is not actually money. It’s currency. Real money would be something tangible like gold and silver, or something that is at least backed by a physical asset such as gold or silver. Something that has actually taken some effort to mine out of the ground that has some form of labour attached to it.

Central banks have flooded the world with copious amounts of fake fiat currency (not real money), which is now almost completely worthless. And for the first time ever in history, this is the case in every country on the planet, right across the board. This fake fiat currency only has value commensurate with the general public’s belief that it holds value, even although technically, it actually doesn’t hold any value at all. But I digress.

Moving on, let’s define cryptocurrency as follows:

Cryptocurrency is a new asset class, which is used to enable decentralised applications.

This is close to, and along the lines of the definition given by Adam Ludwin of Chain in his open love letter to Jamie Dimon. And may I say, a mighty fine definition it is too.

The Value of Cryptocurrency

It therefore can be argued that cryptocurrency, unlike fiat, has value from at least two dimensions. First, it takes effort to mine into existence through having to solve extremely difficult hash problems. Miners are rewarded for doing this, although some cryptos are pre-mined.

Secondly, cryptocurrency has value through the stated purpose of enabling decentralised applications. A third dimension might also be added in that there is an element of scarcity, which again is unlike fiat on account of the central banks engaging in liberal currency printing ad infinitum to the detriment of pretty much everyone except themselves and their elite cronies.

So, how does this ancient system known as Hawala work?

As an example, imagine Sally wants to send 100 to her brother Jamal who happens to be miles away in another city at the other side of the Country. Sally goes to her local Hawala agent down the street, who is known as a hawaladar. She gives the 100 to the hawaladar along with the name and details of the recipient, in this case Jamal. Sally also provides the hawaladar with a password that is known to Jamal. The hawaladar contacts another agent who is located where Jamal lives. Jamal visits this local agent who gives Jamal the 100 (minus his fee) on the condition that Jamal provides him with the correct password.

Now the important thing to note here is that throughout this whole process no funds have actually moved between the two cities. The whole thing is based on trust, honour, relationships and family connections and so on.

Both hawaladar dealers keep an informal ledger of transactions, and debts between them are settled regularly in cash, property or services. In the event that a dealer fails to keep his end of the bargain, he is shunned and ex-communicated from the network or region.

From Investopedia

“Migrant workers who send remittances frequently to relatives and friends in their countries of origin find the hawala system advantageous. Hawala facilitates the flow of money between poor countries where formal banking is too expensive or difficult to access. In addition to the convenience and speed of conducting hawala, the commission rates are usually low compared to the high rates that banks charge. To encourage foreign exchange transfers through hawala, dealers sometimes exempt expatriates from paying fees. The system is also easy to use as one only needs to find a trusted hawaladar to transfer money.”

Hawala as Underground Banking

“The very features that make hawala an attractive avenue for legitimate patrons, also make it attractive for illegitimate uses. Thus, hawala is frequently referred to as underground banking. This is because money launderers and [other criminals] also take advantage of this system to transfer funds from one location to another. Hawala provides anonymity in its transactions as official records are not kept, and the source of money that is transferred cannot be traced. In addition, corrupt politicians and the wealthy who would prefer to evade taxes use hawala to anonymize their wealth and activities.”

Now I know that sounds bad, but stay with me here, more on how these issues are addressed below.

“Since hawala transfers are not routed through banks and, hence, not regulated by governmental and financial bodies, many countries have been led to re-examine their regulatory policies in regard to hawala. Some countries have made hawala illegal due to the absence of bureaucracy in the system. For example, in India, the Foreign Exchange Management Act (FEMA) and the Prevention of Money Laundering Act (PMLA) are the two major legislative systems that deter the use of hawala in the country.”

“Some FinTech companies are implementing the hawala system in providing financial services to the unbanked and underbanked populations of the world. Mobile banking and payment platforms, such as Paga and M-Pesa, are revolutionizing the financial system in certain countries in Africa by promoting financial inclusion through the hawala system of providing financial services.”

So, now that we have a basic understanding of how the ancient system of Hawala operates and how it can be used, and we also know the difference between currency and money as well as the value attached to crypto, this brings us neatly on to the newly launched cryptocurrency HAWALA.TODAY

From the website:

What is Hawala.Today?

It is a P2P crypto-fiat currency exchange platform, which allows for near-instant and secure exchanges, anywhere around the world. With the help of the exchange’s discovery mode, buyers and sellers can find each other with a single click. Once a request to buy/sell is made, Hawala.Today sends out notifications to the nearest buyer or seller resulting in a quick exchange with no intermediaries.

15% Accumulation of Interest

In the first year, Hawala tokens in the wallet accumulate 15% interest. Each subsequent year will see a steady decrease until the rate drops down to 7.25% each year.

Instantly Discover Nearby Buyers & Sellers

A simple and user-friendly app lets you search your area for available buyers and sellers. Users will carry a trust rating based on their past interactions. The Cash Out option lets you convert coin to cash in moments.

Anti Money Laundering (AML) Screening

Users will undergo a verification process as per the AML criteria. Verified users will be able to transact amounts over USD 600.

Completely Anonymous Interactions

All interactions through Hawala.Today will be anonymous on the trusted Ethereum platform, ensuring security and privacy.

The App

Buy & Sell Cryptos Nearby

P2P exchange allows for a lot of unnecessary fees and tariffs to be avoided since there are no intermediaries. This is especially true for the majority of countries in the world where financial dealings are much more complicated. Hawala.Today solves this by removing the hindering elements and connecting two people who want to buy and sell.

Users can make better assessments while entering an exchange with one another, with the help of the trust rating system. After each interaction users will be able to rate their experience.

Hawala.Today expands upon the increasing need for efficient and easy crypto-fiat conversions. Beginning with Bitcoin, the platform aims to eventually support all ERC-20 currencies in its exchange.


Name: Hawala Token
Symbol: HAT
Decimal: 12
Contract Address: 0xc3972ac283b3a7a56125674631a5c254f7f373cf
Initial Supply: 2,500,000 HAT

Air Drop: 1,000,000 HAT

Total Supply: 7,000,000


What sets Hawala.Today apart? Granted there are a few projects that are based on a fiat — crypto currency exchange model, but Hawala.Today’s model is designed to minimize the required technical knowledge for operation to barely nothing.


The app uses discovery mode to search for trades near the user. A lot like finding an Uber ride. You write up a request order and send it out. First bidder shows up on your screen and you can proceed with executing the deal or choose to cancel. In two simple steps, you make trades across a secure P2P exchange.

Cash Card

The Hawala Cash Card will allow the user to purchase HAT tokens with fiat currency. The user will enter the code into the app and receive the relevant amount of HAT. The cash card will be made available just like mobile prepaid cards, at general outlets globally.


The Hawala Wallet will be the main point of access to your crypto tokens. You will be able to add all ERC-20 tokens, as the app develops. You will be able to add an ‘On Demand’ wallet for Non ERC-20 tokens. All your token addresses will be listed on the main wallet page and your balance will display in tokens and their value-equivalents in USD, GBP or EUR.

Incentive for Stake (IFS)

Hawala will integrate Incentive for Stake algorithm to create organic demand for mass adoption, where holders will earn incentives from up to 15% to 7.27% in the final 10th year. There will only ever be 7,000,000 HAT.

The supply will gradually increase in yearly increments over a period of 10 years until it reaches the total supply of 7 million HAT.


By addressing negative aspects associated with the ancient system of Hawala as outlined above, the team behind the project are bringing the concept into the 21st century and digital age via the Blockchain.

Thus, it is in the spirit of Satoshi and of the One, that this project advances the cause of decentralisation for the betterment of humanity. It is bold courageous resistance and brings empowerment to the unbanked and poorer peoples among us. In the lyrics of Primal Scream, “this is a new day, music is music and power is power”.

You can do yourself and the world a favour therefore, by downloading the app and getting some HAWALA. TODAY.

Some Links

Website: https://hawala.today

Telegram Chat: https://t.me/hawala_chat

Twitter: https://twitter.com/hawalatoday


Please note that none of what I write should be construed as advice to buy or sell any kind of asset or anything at all. It is simply my personal and not necessarily my professional opinion. Any asset or non-asset can go down as well as up. Please do your own due diligence.


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