Islamic Coin is the proof that every community in the world can take its place in the blockchain ecosystem. Firstly, Islamic coin is just a part of the Haqq Ecosystem. In Haqq, there are 5 different components;
- IC Network
- Haqq Blockchain
- Islamic Coin
- Evergreen DAO
- Haqq Association
Mutual feature of these concepts is all of them are focused on serving to the Muslim community and supporting philanthropy.
IC Network is a privately financed technological enterprise. They are focused on ethical financial services which is actually the reason of starting Haqq Blockchain.
Haqq blockchain is a proof-of-stake blockchain which is compatible with existing blockchains like Etherium. Point of that blockchain is make crypto ecosystem more trustable by the people in Muslim community. You can see their documentation by clicking here.
Islamic Coin is the main coin of the Haqq Blockchain. Each time a new Islamic Coin is minted, 10% of the issued amount is deposited into Evergreen DAO for further investment into projects beneficiary for Muslim community or given to Islamic charities.
Evergreen DAO is a virtual foundation focused on philanthropic actions. It also may fund activities necessary for the Haqq network evolution.
Haqq Association is a Swiss based (non-profit) association. It is funded via donations. It brings together the most reputable actors of the Islamic world in order to promote the community driven decentralized technologies worldwide.
Having this kind of an ecosystem is very helpful to anyone in this ecosystem to do anything. Great thing about Haqq ecosystem is that having philanthropy in their vision. When I imagine a group of people gathered in that vision, I see that their acts would get support from everyone and they would take solid steps.
They get Fatwa, Islamic proof of being Halal, for their foundation. So it clicks with all the Islamic rules. You can see their Fatwa from here.
There are just their founders in website.
Alex Malkov – Co-Founder
Andrey Kuznetsov – Co-Founder
Mohammed AlKaff AlHashmi – Co-Founder
Hussein Mohammed AlMeeza – Co-Founder
Andrey is a serial entrepreneur and engineer focused on fintech, cybersecurity, and network development. He has led teams that have built payment services, corporate messengers, blockchain staking services, and crypto portfolio analytics tools.
If we look at the big picture, we see that Islamic Coin has a great community & market capacity etc. But it is designed for a certain group of people. Personally, I am waiting for the next partnerships and all. I say we need that stuff.