ADAB — The First Islamic Crypto Exchange
Good day fellow subscribers, today I would like to talk to you all about a very first project of its kind, a project that has never been done before. I am talking about ADAB solutions
What is ADAB solutions?
ADAB is a first of its kind project, what do I mean by first of its kind project? They are developing the First Islamic Crypto Exchange (FICE). The main aim behind the development of the project is to create a Cryptocurrency exchange that comply totally with the norms of the sharia and operate on the rules and Principle of Islam
Everything done within the ADAB solutions would be based on the moral and cultural values of Islam. Anything outside of that would not Be accepted. Does this mean it's only accessible to Muslim? You would get to find out shortly
Unlike most other projects that go with a high price when it comes to ICO, ADAB has gone with $0.1 per token for the ICO. A strategy on how to hit both soft cap and hard cap has been implemented by the team already in order to be able to achieve their goals within the time frame given on the roadmap so therefore they would create a global infrastructure that works with the rules and regulations if Islamic finance.
The future of Islamic finance and digital ecomomy
One of the most dynamic modern economy is the Islamic economic model, recognized internationally as a form of intermediation. The Islamic economic model has great potential to put a strong hold on the links between financial institutions like banks and the real economy.
Islamic finance assets growth ( 2012 - 2022)
The number of users using the Islamic financial services and also funding it would lead to the development of the industry. Of course the Islamic economy is created with the support of government in Muslims Countries but in non-muslim countries, the Muslim population are the ones demanding that the economic model be developed.
Comparison of the Islamic and western economies
You would expect for there to be a difference between the two economies but no. The development of the Islamic economy does not in any way go against the western economy. The main difference are in the basic values of the economy. The term Islamic finance covers a wide range of financial products and services, since the main goal is to promote investment.
Difference between Islamic and western economic principles
There are quite a few differences and after going through this it's not hard to see why the Islamic economy has continued to grow.
The Islamic economy is based on what the Quran says and has a holistic view of the world while the western economy was formed based on human experiences and principles.
The Muslim economy believe that as a means of payment bitcoin is permissible and since it was the first Cyrpto currency it's complaint with the sharia law
In order to make ADAB solutions project halal, the following measures have been put in place
1. The project will be assesed to see if they meet up with the sharia laws
2. The project will organize a shariah supervisory board under the FICE
3. The project will adhere to documentation and procedures, prepared on the basis of serious analysis
Methods of crowd funding
It would interest you to know that there are four ways of crowdfunding and according to the sharia law the only one now acceptable is the crowdfunding on the basis of credit.
Importance of ADAB solutions
1. ADAB solutions would be the first exchange of its kind and would work and perform. Cryptocurrency transaction accordingly to the shariah law
2. The ADAB solutions aims to get a huge audience of potential Muslim users on the exchange
3. ADAB solutions provides transparency of the project since they are in line with the sharia law. Every Muslim knows what the sharia law is.
Objectives and mission of the project
1. Aiming to be the First Islamic Crypto Exchange
2. Create conditions and services bases on the morals of the values of Islam.
3. ADAB itself is a way of life in Islam, so they founders see it as an obligatory foundation of business relations
Distribution of tokens
Distribution of funds
The ADAB team
Since the token use is based on the sharia law it's understandable to see that it cant be used for any illegal purposes like gambling, and immoral Acts and another thing I love about the project is that it would be easy for them to attract users who are not into Cryptocurrency to come and join because of the laid down laws which users would Love. Users would feel safe and secure on the platform
ADAB website: https://adabsolutions.com
ADAB Whitepaper: https://adabsolutions.com/pdf/WhitePaper_of_ADAB_Solutions.pdf
Writers Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1319467;