ISLAMIC COIN
Islamic Coin is a native currency of Haqq, a community-run network, dedicated to empowering an ethics-first Shariah-compliant financial ecosystem. Islamic Coin has a finite total supply and 10% of each issuance is automatically dedicated for philanthropic purposes.
Islamic Coin is designed to deliver a lasting, powerful impact for one of the largest communities in the world. It is the first digital currency to provide economic and social benefits, support innovation and ensure sustainable, long term growth via a dedicated Evergreen DAO.
Islamic Coin is Shariah-compliant digital money, designed to create value for the World’s Muslim community. It is built on Haqq – its dedicated Islamic blockchain. Meaning “Truth”, Haqq stringently abides by Islamic views and traditions on finance.
In the Quran, gold and silver are mentioned as examples of pleasures of this worldly life (3:14). That is why Muqaddimah of Ibn Khaldun has written that gold and silver specifically, should be used as money.
Islamic Coin cannot be arbitrarily ‘printed’ and thus devalued. It’s also impossible to cause arbitrary deflation through a rise of the Central Bank’s interest rate (key rate) – since there is no interest rate within the system. Islamic Coin’s price is determined solely by the market and thus always fair.
Islamic Coin may only be minted (issued) by those who contribute work and investment – validators and stakers of the network at a predetermined announced rate.
Unlike fiduciary money, Islamic Coin is not operated by the banks whose main business is to earn profit by charging interest. Paying or charging interest is forbidden in Islam.
Each time a new Islamic Coin is minted, 10% of the issued amount is deposited into a special Evergreen DAO for further investment into Islamic internet projects or given to Islamic charities. This is the first introduction of a coin bringing direct economic value to a community.
The Evergreen DAO is a non-profit virtual foundation focused on long term sustainability and community impact. It effectively works as a crypto endowment. In some cases described below, Evergreen DAO also may fund activities necessary for the Haqq network operations and development. Key decisions are made by a council that consists of the top 5 validators of Haqq blockchain.
Goals
The goal of the Islamic coin was to provide a means of participation in the digital economy for devout Muslims around the world. Islamic Coin is referred to as a Shariah-compliant asset and is described as being halal.
Mission
The mission is to empower the international community of the followers of Islam with a robust and future-proof financial instrument that allows for independent financial interaction, while supporting innovation and philanthropy.
Leveraging the power of the community, IsalmicCoin may become one of the most important and valuable crypto assets. If 3-4% of the Muslim online community will hold Islamic Coin, it will become a bitcoin-scale crypto asset, generating a trillion dollars for its holders, and $100 billion for the Evergreen DAO.
Islamic coin is among the best cryptocurrency .
Twitter : @Islamic_coin
