Decentralized finance (DeFi) on the blockchain has been known to allow anyone regardless of economic status to participate. However, the current DeFi ecosystem that we know today is mostly interest-based or not halal. This goes against the values of faith-based and ethically conscious communities. For many Muslims, Islamic finance within traditional banking is the only… Continue reading Halal DeFi Explained: Is This The Future of Finance?
Imagine a financial system where you don’t have to rely on expensive and fallible third parties to manage your money. You have complete control of all your assets and you can easily send them to anyone anywhere. Well, imagine no more; decentralized finance (DeFi) exists so you can fully take charge of your financial assets.… Continue reading What Is DeFi? Is There A Halal DeFi Solution?
Investing in precious metals like gold and silver has been regarded as a hedge against fiat currency inflation. During an economic downturn, you might notice that more people tend to invest in precious metals. A UK-based gold dealer even claimed that he ran out of gold coins and bars due to increased demand during this… Continue reading Why It’s Smart to Invest in Tokenized Gold & Silver
On Nov 11, 2022, the centralized cryptocurrency exchange FTX plunged from $32 billion to bankruptcy in a matter of days, dragging down the CEO Sam Bankman-Fried (also known as SBF) along with it. Here’s a summary of events: Discussion on the FTX debacle Following the news, there have been talks of putting in place crypto… Continue reading Could FTX Be Averted If Islamic Finance Ethics Were Applied?
As the world wide web evolves, so do businesses. Those that have a presence online have most likely interacted with the web2 version of the Internet. From e-commerce to social media, web2 companies have built and grown their businesses to greater heights, earning profit, reputation, and customer loyalty. But as the new iteration of the… Continue reading How Web3 Can Benefit Web2 Companies
On February 1st this year, the Indian cryptocurrency community chorused in dismay at the announcement of 30% taxes on income from virtual digital assets. A few weeks later, #reducecryptotax was the buzz all over Twitter. Some people, however, considered the taxes to be a step towards legalization and celebrated the elimination of the worst-case scenario… Continue reading India’s Crypto Story: How India Can Benefit from Cryptocurrency Adoption
Blockchain technology has started to show immense potential in transforming commodity markets all over the world. Commodity trading markets traditionally use copious amounts of data and paper trails to execute each transaction. Moreover, the complexity and intricacies of global trade have led to many challenges when trading commodities. This is where blockchain technology comes in.… Continue reading Benefits of Trading Commodities on the Blockchain with Halal Crypto
When we think of the agriculture industry, we often picture the dozens of acres of land growing one type of food crop, harvested mechanically, and funded by big corporations. But we forget that there are small-scale farmers, independent entities that may not be interested in the commercialization of produce. These small farmers often struggle with… Continue reading How Tokenizing Assets on the Blockchain Benefit Small Farmers
The total global wealth stored in bonds, equities, and other financial instruments in 2021 was a massive $280 trillion. However, a large part of this amount is illiquid. This poses issues of locked-up investments for extended periods of time, causing investors to fork up more money on liquidity premiums. If you have experience in real… Continue reading How Tokenization Increases Liquidity and Facilitates Liquid Trading
Cryptocurrencies have altered the financial and IT industry in inconceivable ways. In the process, blockchain technology’s core principles of security and transparency have enabled the tokenization of real-world commodities known as “tokenized commodities”. For years, precious metals and land have been used as a hedge against inflation and a globally accepted form of secure investment.… Continue reading Tokenized Commodities: Linking Real-world Products to The Blockchain
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