ADAB Solutions - is developing the FICE – First Islamic Crypto Exchange, based on the norms of Shariah. The projected volume of daily trading on the First Islamic Crypto Exchange is $ 140 million and a monthly turnover of $ 4.2 billion during the first one and a half years of operation of the exchange.
As a result, the implementation of the ADAB Solutions project will create a global infrastructure, that operates on the principles of Islamic finance, and the community that regulates the development of Islamic crypto-economics. ADAB Solutions will solve the problem of halal cryptocurrency transactions, providing access to the cryptocurrency market for the Muslim Ummah , which accounts for 22% of the world's population and manages Islamic financial assets with a projected volume of 3.8 trillion USD.
Halal or not halal
The speculative nature of cryptocurrencies has triggered debate among Islamic scholars over whether cryptocurrencies are religiously permissible. Cryptocurrency companies are seeking to sway the debate by launching instruments based on physical assets and certified as valid by Islamic advisors.
Each OneGram cryptocurrency unit is backed by at least a gram of physical gold stored in a vault. The idea is to limit speculation.
“Gold was among the first forms of money in Islamic societies, so this is appropriate,” said Ibrahim Mohammed, the Briton who founded the firm with other investors last year.
“We are trying to prove rules and regulations from sharia are fully compatible with digital blockchain technology.”
➤Tens of millions of dollars worth of the currency has been issued so far. About 60 percent of the planned number of coins remains to be sold; OneGram hopes to issue them all before listing them on exchanges around the end of May.
➤OneGram obtained a ruling that its cryptocurrency conforms with Islamic principles from Dubai-based Al Maali Consulting.
➤It is one of dozens of advisory firms around the world that offer their opinion on whether financial instruments meet Islamic law standards.
➤In Malaysia, HelloGold launched an initial offer of its gold-backed cryptocurrency in October, receiving approval from Islamic scholars at Kuala Lumpur-based Amanie Advisors.
Manuel Ho, HelloGold’s chief marketing officer, said its coin was Islamic as transactions occurred within a defined period, making them less volatile and addressing the issue of ambiguity of pricing.
Among other experiments, United Arab Emirates-based Halal Chain conducted an initial coin offer in December which is linked to data on Islamically permissible goods.
In order to ADAB Solutions as a crypto currency project to be Halal, it is planned to implement the following measures: The development of the project will be based on the entrepreneurial efforts of the organizers and their work. According to the norms of Islamic ethics, it is right that the source of wealth is own labor inputs and the entrepreneurial efforts.
First Islamic Crypto Exchange will completely exclude the possibility of speculative transactions, margin trading and operations that do not correspond to Shariah. This will exclude the Gharar and Maisir and Riba from the work of the Exchange.
FICE platform able to handle 3 million requests per second, making FICE the one of the fastest crypto exchanges. Users of FICE will be guaranteed that their applications will never be suspended due to congestion of the platform.
ADAB Solutions will pass Islamic experts assessment on compliance with the norms of Shariah. ADAB Solutions organizes the Shariah Advisory Board at First Islamic Crypto Exchange. ADAB Solutions is founded to create a platform for halal projects, to work in a full compliance with the norms of Islam and Islamic finance. Our task is to help Muslims and the community of crypto-investors to understand what in the market the cryptocurrencies is compliant with the Shariah rules and what does not.
ADAB Solutions proceeds from the fact that this project will generally benefit the market, since halal projects in their essence have utility and value, and their definition will contribute to the development of useful ideas and a decrease in the number of projects in the market, which are haram in its essence.
We solve the problems of the Muslim community, such as:
- ADAB Solutions will solve the problem of halal cryptocurrency operations
- ADAB Solutions will solve the problem of excessive risks of cryptocurrency systems
- ADAB Solutions will solve the problem of developing Islamic cryptocurrency infrastructure
- Absence of a crypto exchange, functioning in accordance with the norms of Shariah
- The lack of a unified position of the Muslim community regarding the cryptocurrency
- Uncertainty of Muslims regarding the admissibility of working with cryptocurrencies
- From the turnover of existing crypto exchanges, zakat is not paid.
- The problem of the cryptocurrency market:
- The extremely low involvement of Muslims in the cryptocurrency market
- Lack of community trust in the key tools of crypto economics
- Lack of a new markets and investors
The Adab Solutions project is aimed to a huge audience of 1.8 billion potential Muslim users of the cryptocurrency market.
Projectibility of the project. The Adab Solutions project is designed in accordance with the highest security standards and has unique technical features of key software solutions. The Adab Solutions project forms a system of values based on Shariah norms and principles of Islamic finance, which will become the basis for self-regulation of the cryptocurrency market and will increase the level of confidence in a key cryptocurrency instruments.
Full transparency of the Adab Solutions project. Transparency of the project and safe jurisdictions will make it possible to buy and sell cryptocurrencies for fiat money. Objectives and mission of the project
The ADAB Solutions project is developing the FICE- First Islamic Crypto Exchange , based on the norms of Shariah. The purpose of the ADAB Solutions project is the creation of a crypto -exchange platform, a stock exchange and services that comply with the norms of the Shariah and operate on the principles of Islam.
The mission of the ADAB Solutions project is to create conditions and services based on the high moral and cultural values of Islam and provide access to all users of crypto economics.
- The key task of ADAB Solutions is to create a structure that will establish new ethical standards for doing business in the industry. ADAB - standards of behavior prescribed by the norms of the Shariah, including good manners, standards of decency, courtesy, humanity. The name of ADAB Solutions is a big responsibility for the creators of the project.
- ADAB is a way of life in Islam, which the founders of the project consider not only natural in everyday life, but an obligatory foundation of business relations.
- Name of the token ADAB
- Total number of tokens – 500.000.000
- The price of the token is 0.1 USD
- Method of payment - BTC, ETH
- Soft Cap – 2.500.000 $
- Hard Cap -17.290.000 $
- Start - 25.07.2018 year
- The end is on 15.11.2018
- Minimum volume of sales - 1000 ADAB
- Timur Turzhan Founder & CEO
- Rustam Turzhan Co - founder & COO
- Maxat Salpyn Deputy CEO on Islamic finance
- Aleksander Mamasidikov CMO
My profile: https://bitcointalk.org/index.php?action=profile;u=2099518
Eth Address: 0xF9BC056454948A5D645c86708243A9C7d9578334