Islamic Coin: 10 BIG CONCERNS (Finally ANSWERED)! #Crypto

They see new project they say oh this is Scam and somebody will write a comment And run away he never even read the White paper or go to the website or know Any details some other people just come And comment oh this is Haram and they Just they will go it's easy to say the Word but there is a responsibility Behind this we need to go and dig into The details is it Shar compliant is it Halal is it not Islamic is a magnum Oppos Magnum for us we'll put the rumors To rest this project is not Haram this Project is halal is that correct Gentlemen what is Islamic coin and what Inspired you to create it tell tell me About this okay maybe uh I start with This uh question well actually um Islamic coin is a native coin of Haw Network which is um our blockchain that We created but let me address this from A different point of view we're always People think like why do we need another More blockchain why do we need another More coin so aren we have enough in the Web three space adding more and more and More it need to have sense it need to Have some um logical reasons behind it So if we look in general today on what's Happening on the uh blockchain and Crypto and web3 we will notice that um In a lot of of projects or majority Still there is a lack of of attachment To ethics and values and in a lot of

Business that people are doing they are Really focusing on how to get profit how To benefit from the business they don't Really put the Community First and when We started thinking about this project The best the first thing that that drove Us to to think about it is how to link Ethics and values uh with the business How to put the Community First and with Furthermore researches we found out that The Islamic Financial School exists for More than 1,000 400 years and it's based On ethics and values and it is not Exclusive for Muslims only it's a Financial school that anyone in the World with different colors countries Religious or background they can use it And it always puts the community first But we found that this uh school still Underserved this school it serves a Community that's more than 1.8 billions Muslim people and the other non-muslim People beyond that community uh and this School uh if you look at the whole Entities that created related to Islamic Finance you will never find a single Islamic uh banking for example or Islamic Financial entity that filed a Bankruptcy so it's a f a successful Financial model that serves a 1.8 Billion and Beyond Community with a Market cap of more than3 trillion for Islamic Finance expected to be 3.69 this Year and also also with a Halal products

Market cap of $4 trillion so it's total We talk about7 trillion and huge Community that's underserved and the Best tools in technology today to serve This financial school is the uh Blockchain crypto because it talks about Same things I mean Islamic Financial School it talks about ethics values Transparency and putting the Community First and how to make the transactions Governance by the community how to Eliminate mediators how to make it work For both parties in a balanced way and Sustainable way and blockchain crypto Web 3 is the best tool to match this Technology today that's was the Inspiration and also we wanted to Provide something not only to do uh uh a Business but we want to enable the Community with Innovative tool that Enables them to do their day-to-day Transaction in a very transparent way And always to give give back to the Community where in our project you will Notice that 10% of every minted coins Goes to Evergreen Dow that serves the Community and fund their Project boom that was a great Explanation of Islamic coin before we Get too much into it I'd love to get Introductions for everybody here Muhammad Alex uh please introduce Yourself what do you have to do with the Project and feel free to brag a little

Bit okay cool so I Mohammad I'm a Computer science engineer I'm focusing On artificial intell Ence and my all Previous businesses was all relating uh And I mean around technology and what is Related to that industry 4.0 Automation And AI but then uh I wanted to go in the Blockchain and crypto world and I was Lucky enough to meet my amazing Co-founders because you know when you do Business or projects on crypto sometimes You have uh the team that has the right Idea but with the wrong team where they Want just to do Uh to do it in the wrong way like uh Dump and and and put the coins and Take The Money and Run Away there is no Ethics there and sometimes you have the Right team and the wrong idea but when I Met uh Andre Alex and all the amazing Co-founders I found that we together can Really create something great and I can Say that alhamdulillah today we are Blessed with with big big and amazing Results and uh I'm always happy and Lucky to work with s such amazing Co-founder Alex yeah yeah so I'm Alex bgov I'm the The co-founder and the chief legal Officer for for the Haw Association for The Hol system so yeah I my path in Crypto started like five six years ago And previously I was always on a Consulting s so on the regulatory on the

Setting up the uh setting up the web fre Projects structuring them so yeah some Of them uh got world nouns and the big Ones so this uh this was my personal Success and then I when we when we made The idea when we created the idea of the Of the hack and Islamic so all pieces Like fell uh into places because Previously so I realized that previous Five years I was gathering and Accumulating all these knowledges and The best practices that now I can Finally Implement as something of my Very own I'm Andre I am a chief Technical officer and also co-founder For staring Islamic coin and HCK I was Working in in different areas uh such as Uh fintech banking uh information Security cloud computing lots of them And even though I've been in uh I Started my blockchain path uh in maybe 201 12 but uh it was just a hobby I just Developed some some some prototypes and VPS just for to to to pleasure my Curiosity uh and uh uh by this path I I Convinced myself that uh in order for Blockchain to succeed as an idea uh Blockchain first has has to be adopted By Enterprises so I I focused myself on That and past few years I I worked on Enterprise adoption of blockchain I was Wrong and now I'm doing public Blockchains like it's it's Islamic coin The first project which is I mean for

And users for not for companies and U Um I like building uh uh Something around which can commun is Been formed and uh I was I've been uh Very into this idea since the early days Of uh my Ig path uh I'm active uh open Source contributor and uh I like the Community Driven projects Aot excellent excellent then switching Back to Islamic coins so what I'm Hearing is Islamic coin is an ethical Cryptocoin specifically for like the Islamic or Arab world could be for Anybody is that the case and could you Just briefly go over again what is the Exact utility of Islamic coin okay fine So um we discussed just moments ago that We have a huge community of of 1.9 Billions and beyond that of non-muslims Who actually like to use the Islamic uh Financial school if you look at the Banks for example in in Africa they have Um Islamic Banks there they have more More members than than non-muslims more Than Muslims actually there and we have Many other examples so this is something Global that benefits people communities And Humanity now um the utility of it if You look at the lifestyle that uh Muslims are living and the communities Of non-muslims that follow that Lifestyle uh in life it actually manage All parts or areas of life it manage how People need to get loans from each other

How people need uh to do the partnership With each other how they apply ethics And values in every business transaction Uh they do in their life so there is Existing lifestyle and this lifestyle Actually uh moving from Finance to uh Social lifestyle and to products Lifestyle and different and is still it Is underserved in the centralized world I mean the the Islamic Financial Entities everywhere now when we look at Them uh they cannot not reach every uh Single person to provide these Solutions Because the centralization it requires Physical presence in many places even if We inject the digital uh Solutions with That still it requires uh presence there Because it is centralize and also you Will see even non-islamic Banks they're Providing Sharia compliant products and Actually uh that gives a sign that there Is a huge demand uh what we do is Serving this Uh majority uh or big community that are Underserved in the centralized world in The serving them in the decentralized World in a way that's more transparent Crucial you can see the information and In a way that can reach to everyone and We are creating the products that Matching that so for example we spoke About how people gives loans to each Other do partnership and all we're Creating smart contracts that address

All of this we talk about musharaka And others these all are parts and forms Of Shar Finance dealing between entities And people to each other we talk about For example the zakat which is the a Must donation in sh Finance where you Donate 2.5 or your of your resources That you're not using for almost let's Say 12 months uh to the poor people that Are in need for it so we are moving this With more transparency on the blockchain So people can track all the donation What it happens from which wallet to Which wallet and if we link that with Digital identity then we have a better Utility where you know exactly who Received that donation and uh we're Talking zat itself is just a trillion Market dollars uh if we look at it but We have Beyond this even other utility Cases talking about tourism talking About Banking and other things where uh I think Alex and and and Andre also can Can give some inputs uh for that Different variety of utility that we do For the community yeah I mean in if I Had to tell about the Islamic in a Nutshell basically what we are doing What we are striving to do is to bridge Web three and the Islamic Finance Industry so by solving this ethical Dilemma when Islamic Finance Cannot

Widely uh Widely embrace the free space in the Crypto because of the all the mechanics That are prohibited in the Islamic Finances such as such as the interest Interest based Financial products by Solving this we can actually make this Two industries mid because uh the Uncertainty which are now in the Muslim Community as to whether you can use Crypto whether it's whether it's Halal Or Haram uh which which tokens Can you Use which deps can you use which chains Can you use and Etc so we are by solving This dilemma by providing like a clear Clear from the ethical standpoint Solution and solving the actual problems Of the community with the financial Technologies and web free here we Basically trying to just unlock the web Free space for the uh for the Islamic Finance and for the for the Muslim Community and wider so In AAL it looks like this and I will Amend this um with a purely technical View on this technical point of VI uh Islamic coin utility uh is gas Islamic Coin being the native currency it's like Eth for ethereum same as Islamic coin For her so being uh gas gas coin Islamic Coin uh enables users to transact with The network without abusing the network Itself and the second governance and I Want to emphasize the importance of this

Uh for haug Network because here in h we Expand governance Beyond just purely Technical or economical decisions making In hug users takers lamic coins takers Will be able to participate in decision Making process of sharia Oracle Sharia Oracle is the framework of uh for smart Contracts to get digital Sharia Compliance certificate and it has two Levels first level is a community level Where uh just Islamic coins takers Decide whether this smart contract Advan Advances to this level or not and second Is a Sharia compliance level where our Sharia board conducts audit and signs Issues digital certificates I love the Team here guys each bringing a different Energy of course Muhammad the fearless Leader and you know you just mentioned That it is Sharia Compliant can you just touch on that Very briefly you know how important is It that this is Sharia compliant and you You mentioned the Sharia board what Rights do they have okay that's Connected to the Sharia Oracle that Andre was just uh explaining so I mean Let me just uh put some little more Light on this point where Shar board is Really important to give a certification And a weightage that everything is Happening is compliant with the Sharia Rules and actually you can be strong as Strong your Shar board that's why we

Have a Sharia board that sits in more Than 40 Banks Shar board all over the World including big Banks you can say Standard charted and others and more and They're very well known in this domain And unlike many projects they sometimes Put Shar board to do a job for one time And give the certificate or what we call It in in Islamic uh terminology f For one time and then after they go then The people start playing right and left And they went out they go out of the Shar compliancy so what we have here a Permanent Sharia board actually and the Sharia Oracle actually where there is a Important part here a lot of people are Saying if you control the projects and Say if it is not Shar compline um you're Not allowed to be on the blockchain then You are a centralized blockchain and That's true so to keep this neutral People can put their project on the Blockchain we have no problem we cannot Actually prevent them because that's a Fully decentralized blockchain but when You put your project there what is your Target you want to Target a community You want the community to trust you and Deal with you and there you will find The community that only fans of sharia Compliant projects so you have a choice To tell the community my project is 100% Complying with the Shar you go to the Shar Oracle where first stage as Andre

Mentioned the community will vote that They like your your project and second Stage where the Sharia Vault comes in They will scan the project and make sure It complies with the Sharia rules if it Complies then they will certify it as a Sharia compliant and the project will be Actually wh listed and uh I mean Highlighted as a Sharia compliant Project if not they will notify the Project the product or project owner What to fix to be Shar compliant so That's part of the rights they have they Have rights when it comes also later two Projects to be funded through the Evergreen da where it goes actually Through two steps again but one of that Steps is the Sharia board where they Scan the project again and to make sure That this project is Sharia compliant or Not so you can say they are the the the Guards to make sure goes with the ethics And values of of Shar very interesting So we'll put the rumors to rest this Project is not Haram this project is Halal is that correct Yeah yeah right that's very correct I Mean people today is easy and I saw this Always especially when it comes to web 3 Two things you hear it that people just Throw it without a second thought they See new project they say oh this is scam And somebody will write a comment and Run away he never even read the right

The white paper or go to the website or Know any details some other people just Come and comment oh this is Haram and They just they will go and this is not Something like just uh you can through The world it's easy to say the word but There is a responsibility behind this uh We need to go and dig into the details So um yes having the solid Sharia board Here uh that's caned it gives us a very Good uh I mean respect and Trust from The community that everything is Actually Halal and compliance with the Shar and on the other side we do respect That some of these Scholars might be Having an opinion it's like they they Don't they're not okay with the with the Blockchain or let's say crypto or Whatever is happening there but this is A very normal healthy uh difference so Uh it doesn't mean that everyone should Say this is 100% Halal or 100% Haram but If you have a solid Shar board with all The logical reasons and all the clarity Behind it then it is something say that It is halal but in the human In the history of Islamic Finance or Islamic Shar um this uh I mean variety of Opinions are very healthy and you as a Person who want to follow you need just To go and read and understand it and Whatever you feel comfortable you move With it and that's lead us also to

Another point where it makes our project Having a unique value proposition we Have a lot of Muslim Community today They want to invest in Shar or in crypto Let's say they have this gray area of Hesitant should I invest should I go to That world is it Shar compliant is it Hal is it not so there is a lot of Wealth not only for crypto even they Have this for banks you will see a lot Of unbanked Muslims they have a lot of Wealth they don't put that in the bank Because they're not sure that this is go It goes with the Shar Finance principles And ethics so this all variety of people They have now a common ground that is Clean and goes with their ethics and Values and that's unique value Proposition where our project it doesn't Target just a Crypton native people but It TS beyond that from non- crypto Native people and a lot of unbanked People to provide them with a solution That can use it in a very easy way and Critics will say Islamic coin is Centralized how do you address this Concern h i I will ask my amazing uh Partners yes uh well first of all Islamic coin I Mean let's speak about hack not Islamic Coin because Islamic coin is just a part Of the whole H Haw Network so Haw Network is a decentralized uh blockchain Uh based on proof of stake

Consensus so just like uh Cosmos Kronos Network and many others we actually Based on Cosmos SDK so Uh by technically it is uh uh it is Decentralized in on the level of the Block block building Mechanics and uh the fact that we have Sh board doesn't make us centralized Because we like muham expanded we uh Carefully designed the Sharia Oracle in A way that it doesn't prevent anything On uh blockchain it just states that This smart contract is are compliant or Community approved or both and that's it And then uh it's just uh it's it's up to Uh smart contract developers or wallet Developers uh to decide whether they Consider Sharia Oracle data or not for Example we decided to uh to consider Sharia Oracle dat because we develop our Own uh wallet and in this wallet we we Check every transaction user makes and Look for smart contracts uh with the uh With which this these transactions Interacts if if there is a smart Contract below uh a level of approval Which user prefer either Community or sh Board We uh we just warn user that it is uh It's not what you what you want but Again do not prevent him from signing we Just warm him and uh it's up to him to Decide whether to sign this transaction Or not and uh being evm compatible we

Are compatible with metamask thrust Wallet whatever wallet which which Supports custom Network addition so if You don't want to touch sh Oracle aspect At all feel free to use metamask block Wet whatever and for our audience and Yeah go ahead just to add to this point One important thing some uh I mean People thinks or sometimes who post These um uh let's say questions they They might misunderstood also how the Project is structured and they didn't Read actually very well the white paper Where people sometimes saying look um The founders can control the 10% that Goes to the Evergreen Dow and that makes The project centralized that's not Really correct because the Evergreen Dow It has its own structure it his own way To run the founders has no say and we Cannot do anything with the Evergreen Dow it's totally governed by the Community and then the second level is The Sharia board so this 10% goes Automatically when every coin is minted To Evergreen down and that Evergreen Down will will will go into two stages And this will be actually published very Transparently uh in the future so stage One uh the voting where the community With delegate their votes to a certain Validators and these validators will be Voting in the Evergreen Dow for the Project so it's totally Community voting

And community delegations and validators That vote for this and even if you look At haak network haak network is only one Validator and we when we say five Validators or maybe more will vote ha Network doesn't have more than 20% of That voting rights so this is a very Transparent way and but people sometimes They don't just understand or they don't Have the time to read and they just go And talk in nonresponsible way about the Project um some of them even have seen Uh they put some articles and some Questions where they're connected with Us as a co-founders directly they didn't Even take a time to come and discuss or Ask they just spot something just to get Attention and uh making some wrong Claims but just this is uh something to To clarify to the community and I agree With check out the white paper guys I'm Going to link the website below but yeah Go Ahead just one one more Point uh the the Stake distribution as of now is indeed Not ideally distributed so far but The um uh both stake distribution and Validators um set accumulation is still In in progress so far we have something Around 65 validators out of uh 150 uh Maximum C we are working with well we Pretty careful uh about uh who which Predators to invite to uh to our Network I uh currently uh speaking with the on

Boarding like 15 or 20 more Institutional grade uh validators that's Why it's this this process is going not Uh not as fast as we see in other Networks which just appear and um offer Like 100% apy we currently network does Not have apy at all we did not launch Um Co me because uh if we do it now then Only Founders uh private sale Participants and some early Partners the Ones who will benefit from uh who will Grab all these taken rewards we planed Uh uh toen inflation uh lunch right After lising so that every Community Member will be able to stake and U uh Earn a staking rewards so uh this is a Reason why uh St distribution is not Ideal and but but but even the fact that It is not ideal does not make it in any Way centralized if you look at the Distribution none of the validators Controls uh onethird of the total voting Rights which is like a hard cup for uh Stoping stoping the Network and again I do want to encourage Our audience check out the website read The white paper linked below my final Question for you gentlemen because I Know there's a lot of global interest Right Now are you worried that this Global Interest might dissipate you know after Things kind of cool down and you know Obviously not so what can the Islamic

Coin holders and users look forward to Over the next couple years okay um from My point of view I think um that's not The case because um this question if you Compare the project with all what is There in the in the web three or let's Say in the crypto uh space uh might be Valid for many projects but what we do Actually we have existing lifestyle as We mentioned and we are moving this Lifestyle to the blockchain so there are A lot of utility cases uh dabs and Solutions that the community are Actually waiting for to use it and to Have this technology serving the Underserved Community for the Islamic Finance and and that's actually give a a Strong sign that is not just a buzz Where the project will be started and Then everybody jump into it and like all Others people go away they will have a Lot of things that takes them from area To another to another to have a full 360 Degree ecosystem from Financial part Even to the social media part where we Are creating H social which is coming Soon is like a lifestyle to even Marketplace to e-commerce so there are a Lot of variety things that covers a very Uh clear gaps in the market and serve Underserved community that secures that This adoption will just continue growing And growing and growing maybe Alex and Andre can add something yeah one part

Which great finded great is which is a Real life adoption uh it's actually our Focus but for I will uh I will expand Other side for web three folks watching Us we Expect uh defy ecosystem on hack to look Completely different from from what we See on polygon ethereum and other layer Ones if we compare This current layer ones they are just Copy Cuts of each other there's amm Landing FL Lo whatever same DS are named Differently uh because of the fact that Sharia ethics creates some boundaries we Expect this fact to to boost the Creativity of Builders to create new Kind of device with which comply to Sharia ethics and and and the rules and Uh uh it's not just about something new We expect I personally believe that Sharia compliant def assist system will Be much more sustainable much more Stable like we see it in the bank Banking World interesting so yeah a lot To look forward to with Islamic coin Gentlemen thank you for being here this Is something I'm going to keep on my Radar final thoughts for the altcoin Daily Audience okay um there is important Point to mention here where we wanted Also to highlight and and and say it Through uh altcoin daily where um where

There is like some changes or a bit Delay on listing our coin u in the Market and the audiences or the Community might be asking why this is Happening actually from one side this is Very normal in many big crypto projects We saw projects that delayed their Launching by years not only even by Months and it is one of the successful Projects there but on the other for Delaying ethereum is notorious for Delaying exactly exactly I mean I would Be more worried about projects that be In hard to list you know because I will Think people want to list and dump the Coin get the money and run away uh so we Are not that type of people we want to Do it right not fast and then also we Didn't run into something like Ico IO IPO to just get the money from Individuals that who don't know and they Think like this is Islamic and emotional Part works with them and then they go And just invest we we did a private Sales with a private uh we we with the Very professional investors with the Very uh professional VES and funds and I Would say also here to address quickly One point where some people say you guys Don't announce all the people who Invested in the project I would say that If you look at the total investment that We are on now we're more than 400 Million doar almost close to 450 million

Doar More than 70% of those investors Are actually announced and very well Known we talk about kiwi APO uh we talk about uh DF 109 we talk About A195 and many others so when you took Look at this so most of them are Actually disclosed and well known and There are uh maybe 20 to 25% that we Have to respect their privacy and they Don't want to be disclosed under NDA Agreement and other things so we have to Respect it but we went into uh the uh Private Sales just as a sign strong sign To the community that this project is Potential and people who knows where to Invest professional funds big Professional financial institutions they Went into it and they invested so there Is nothing collected now from the Community uh and that's also another uh Reason and there is uh one part related Maybe to the legality I think maybe Alex Can put some some comment on this but I Would love to say to all audiences that Um we have a lot of amazing um surprises And and things to uh keep your eyes on The project for not a day or a month or A year but for decades from now onwards Very exciting uh Alex Andre anything I Don't know how you can top that from Muhammad yeah yeah I can just file on That yeah so for us for everyone on this Call I mean from our side the Islamic is

A MAG oppos Magnum for us so we like Invested everything we had our best Knowledge our time our efforts into this And we are not rushing to like to list And roll out something that is probably Not is still raw from any from any Perspective whether it's technical legal Economical or whatever so we Intentionally decided to be like extra Cautious before we present the universal Ecosystem which should be like reliable And gain trust as fast as possible and To gain trust fast you have to prepare For a very very very long time and you Have to like to conquer for this trust Um that's why we like encourage everyone To see our path because it is Transparent Uh as like I I I don't think that any Blockchain was so transparent as we are In our preparations and how from the Ethical standpoint we launching it even Though we are not rushing these Organizational steps we do Rush uh uh Features shipment such as sh Oracle the New amazing features in ha wet which Make it crypto as a whole not just Islamic coin very much much more Accessible than we see it now we do Rush Technical and and user features maybe One one one one little fast uh final Calculations I would love to say that if We calculate uh I mean we we look at the Whole Humanity today there is inflation

And there is poverty uh in many places In the world uh the solution we do and We offer uh and what we do in our Project with simple calculation if the Zakat only where the 2.5% of the excess Money of the people distributed well Over the blockchain and web3 in a very Transparent way the amount of zakat is Enough to solve the the suffering and The poity problems in in the world I Love it Alex Andre Muhammad thank you so Much for coming on today audience check Out Islamic coin linked below we'll be Watching it uh it'll be be on our radar And we'll be rooting for its success but Thank you guys thank you thank you thank You They see new project they say oh this is Scam and somebody will write a comment And run away he never even read the White paper or go to the website or know Any details some other people just come And comment oh this is Haram and they Just they will go it's easy to say the Word but there is a responsibility Behind this we need to go and dig into The details is it Shar compliant is it Halal is it not Islamic is a magum oppos Magnum for us well put the rumors to Rest this project is not Haram this Project is halal is that Correct We wanted also to highlight and say it Through uh altcoin

Daily That lead us also to another point where It makes our project having a unique Value proposition we have a lot of Muslim Community today they want to Invest in Shar or in crypto let's say They have this gray area of hesitant Should I invest should I go to that World is it Shar compliant is it Halal Is it not so there is a lot of wealth Not only for crypto even they have this For banks you will see a lot of unbanked Muslims they have a lot of wealth they Don't put that in the bank because They're not sure that this is go it goes With the Sharia Finance principles and Ethics so this all variety of people They have now a common ground that is Clean and goes with their ethics and Values and that's unique value Proposition where our project it doesn't Target just a crypto native people but It targets beyond that from crypto Native people and a lot of unbanked People to provide them with a solution That can use it in a very easy Way also we didn't run into something Like Ico IO IPO to just get the money From individuals that who don't know and They think like this is Islamic and Emotional part where with them and then They go and just invest we we did a Private sales with a private uh we we With a very professional investors with

The very uh professional vs and funds And I would say Also We have a lot of amazing surprises and Things to keep your eyes on the project For not a day or a month or a year but For decades from now onwards