What Makes FICE Unique?
The ADAB Solutions Project Has No Analogues In The World
It is not a secret that lately the cryptocurrency market has become increasingly popular for investments. Nevertheless, it contains many contradictions, especially important the uncertainty of the Islamic community regarding investments. It is still no unified opinion about the acceptability of these investments in projects or the need to completely distance themselves from this market in order to remain a true Muslim.
Thus, for the overwhelming majority of the Islamic community, these financial institutions remain a kind of innovation, which is studied by enthusiasts or professionals only. As a result of the study,
which was conducted by some of Muslim crypto-enthusiasts, it is clear that a number of ideas on crypto calculation are in accordance with Islamic law, but some of them are not.
Why ADAB Solutions Project is so Unique?
The Blockchain technology is based on transparency and honesty, which is so necessary for present days, but, unfortunately, the crypto-money market is exposed to numerous fraudulent activities and thus turned into a kind of shadow market instead of transparency. Despite this fact, within the ICO Blockchain Infrastructure projects, a huge number of talented people get incredible opportunities to transfer their ideas, and their efforts inspire further development of the market. An important factor in achieving this development is not only the beginning of the massive commercial use of the technologies being developed but also the definition of high ethical standards for running a business in this sector.
The cryptocurrency market should earn the trust of people, but, sadly, today, there is not a single cryptographic platform or a crypto exchange, which would guarantee activities based on Shariah law. Many cryptocurrencies clearly have functions, which are not good under the Muslim beliefs. For this reason, Muslims are far from investing in these assets in order to violate religious conditions. The ADAB Solutions project is an initiative to solve the problem that really matters. The key task for ADAB Solutions is to create a structure that will establish new ethical standards for doing business in the industry.
Clients and investors using our services will be confident that their actions fully comply with the principles of Islam, which will go through double check, confirmed not only by the opinion of internal Shariah Advisory Board, but also by the opinions of the board of external independent Shariah Advisory Board (Council for the Observance of the Principles of Islamic Finance). ADAB Solutions has a brilliant team advisor Mufti Faraz Adam, who has spent almost a decade studying Islamic law. Currently, he is a Shariah advisor at a number of Islamic financial institutions in the UK, Bahrain, Dubai, Singapore and Malaysia.
The ADAB Solutions platform is developing the world’s First Islamic Crypto Exchange (FICE). As a final product, our team will create a global infrastructure hub that will conduct the management of the company in accordance with the Islamic management model, which complements the generally accepted standards of business management, as well as help Muslims interact with cryptocurrencies and conducting new ICOs.
FICE completely excludes the possibility of speculative transactions, as well as margin trading and other operations that are not related to Shariah and are not Halal. This element will exclude from the exchange trading system those tokens that are not confirmed by the commission.
The platform will be able to process 3.000.000 requests per second, thus making the FICE one of the fastest cryptocurrency stock exchanges. Coming back to the security topic, we should not forget that to be the fastest does not mean to be insured. FICE organizes a secure development life cycle (SDL), which will adhere to all industry standards. FICE will use the encryption standards recommended by National Institute of Standards and Technology (AES-256, SHA 256/SHA 3) and will not use proprietary encryption schemes.
There are at least 30 million unique users of cryptocurrency in the world, and among them, only a small part of Muslims representing by the 1.8 billion, which is 22% of the world population. The global aim of ADAB Solutions is to help the community of Muslims and all concerned investors to understand which elements of the Blockchain technology in the world are Halal and are confirmed by Shariah and which are not.
Summarizing, it is easy to say that today the ADAB Solutions project has no single analog that could compete with it. FICE has a high social significance and will indeed become a universal solution for the participation of Muslims and users of Islamic finance in the cryptocurrency market. The exchange will operate in accordance with the principles of Islam, but FICE is a platform not only for Muslims and Islamic blockchain startups, it is an open marketplace for anyone who wants to build an honest technology business.The concept of ADAB Solutions will allow investors to distribute their investments only in certified projects, proven by the Shariah Advisory Board and on the other hand security will be provided both by the best developments in the field of cybersecurity and by the high level of business transparency.
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