Integrating Fair Islamic Financial Rules and Blockchain For Trustless Value Transfer – CoinCheckup Blog


For over 35 years, the world of finance found itself in near stasis. The invention of SWIFT was a game-changer but unfortunately didn’t innovate faster than the pace of other developments highly reliant on cheap, instantaneous, and borderless transfer of value.

Crypto: A Permanent Fixture in Finance

The innovation of blockchain sparked a paradigm shift, now commandeering billions. In less than 13 years, cryptocurrencies are now a permanent fixture in finance.For their ease of use, low cost, and guarantee of security, they are widely used in moving value, cheaply, and most importantly, without relying on the middle man every day of the week. 

By building on redundancy and feeding on the community’s spirit–eliminating dark patches and opaqueness, crypto continues to disrupt traditional finance. It is remarkably defining the sector as an emerging, superior alternative to banks’ red-tape.

Presently, crypto’s market cap is over $1.6 trillion and analysts are optimistic, expecting widespread adoption of blockchain payment networks to replace legacy solutions.

Caizchain: Moving Value Fairly

Amid this expansion is the rollout of alternative blockchains that builds on Bitcoin’s lead, offering an innovative transparent solution based on Islamic financial laws. Caizchain is a platform which investors can use, fully aware that the token is compliant with Sharia laws.

It completed its testing phase in Q4 2020. Currently, it is crowdfunding through a private sale and plans to initialize its network launch in Q2 2021.

Through the Caizchain, Muslims and non-Muslims can transfer value in a secure, transparent blockchain, compliant with Know-Your-Customer (KYC) rules and Islamic finance rules. The blockchain-based platform blends beneficial Islamic laws and modern, progressive values to be concurrently modern, tech-savvy, and abiding. 

Herein, the Caizchain places the network users’ interest at the forefront as per Islamic dictates. Inherently, there is a mix of transparency and open-mindedness, digitization, and harmony, translating into a solution where users can remit cash cheaply. 

The Caizchain has special provisions for the payment of Zakat and Waqf (donations). It acts as a reliable friend adhering to Islamic values of contributing to humanity by leveraging tech-savvy emerging technologies. The blockchain’s wallets enable the movement of funds transparently, reliably, yet anonymously protecting the identity of transactors.

Enabling DeFi in a Islam-Compliant Manner

Amid the rise of Decentralized Finance (DeFi), Caizchain is creating a portal for investors to morally participate in the burgeoning sphere, legally and in line with Islamic laws. 

According to estimates, DeFi in Ethereum alone manages over $40 billion of different assets. It presents ways for retail investors to access lucrative investment opportunities, ordinarily barred in the traditional setup as lessons from Robinhood and WSB sagas show. 

Through the Caizchain, users can invest in state directives, shares, property, funds, and others, earning rewards in a legal, moral, and transparent manner. 

The platform allows secure, reliable, and flexible anonymous investing with KYC. Users can use the CAIZ token to finance trips such as Mekka Haddsch, enhanced shopping experiences, and flexibility. 

Additionally, by using the CAIZ coin, there are no lock-up periods. The platform’s users can withdraw and deposit their assets anytime for fiat or crypto using their PayPal, Debit/Credit cards, or other crypto wallets.





Source link

Related posts

Leave a Comment