Dubai, United Arab Emirates: Haqq Association, which specializes in Islamic Sharia-compliant digital financial services, will participate in the activities of the 42nd edition of GITEX. The Haqq Association will present the “Haqq Platform” through which it has issued the “Islamic Coin” which complies with the provisions and laws of the Islamic Sharia.
Mohammed AlHashmi, co-founder and CBO of Haqq Association, said, “GITEX Technology Week 2022 is more focused than ever on exploring the prospects of digital financial solutions for the public, as there is still some apprehension among ordinary individuals with respect to adoption and use. of cryptocurrencies. Thus, our participation this year in GITEX comes to reassure us that there is a fintech that has business rules that evolve according to mechanisms with ethical implications and dimensions. We seek to empower not only Muslim societies, but all societies and countries by providing simple solutions for financial tools in the era of digitalization, characterized by innovation and compatible with the provisions and rules of the islamic sharia.
AlHashmi pointed out that digital platforms that trade crypto digital currencies have, over time, become more than just a traded currency, as they have evolved into a financial infrastructure that includes complex standards and structures, which the Association Haqq was able to avoid in the “Haqq” because it resorted to a set of financial innovations that maintained specific behaviors and clearly defined ethical standards. He stressed that the platform is always looking for new opportunities market and financing models that seek the responsible use of digital platforms and emerging technologies for the benefit of society, through four main pillars: developing a resilient financial ecosystem, encouraging both financial markets and digital culture of part of investors, encouraging ethical behavior and encouraging fina ncial.
AlHashmi pointed out that any ethical financial practice must take into account the interest of society and its general benefit, which was translated on the ground by allocating 10% of currency transactions issued on the “Haqq” platform to the fund. Evergreen DAO Endowment, which is an independent, decentralized cryptocurrency organization that invests in projects serving Muslim communities around the world.
AlHashmi concluded that the mining of “Islamic Coin” currency is subject to an innovative method under certain work standards that saves energy consumption at lower rates than the mining method. traditional, which is one of the major problems in the field of cryptocurrencies, because recent studies indicate that the currency of a famous encoder consumes 128 terawatts of electrical energy per year, which is equivalent to 0.6% of world energy production, slightly more than the consumption of a developed country like Norway.
It should be noted that this year’s GITEX technology is expected to attract more than 100,000 people from all over the world, with the participation of 90 different countries.
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About Haqq Association:
A privately funded technology company founded by a group of veteran blockchain and fintech entrepreneurs interested in building highly ethical financial services and exploring the potential of distributed technologies in ethical finance.
Islamic Coin is the native blockchain currency run by the Haqq community, dedicated to empowering a Sharia-compliant and ethical financial ecosystem. Its mission is to empower the world’s Muslim community with a financial instrument for the digital age that would enable seamless transactions and interactions while supporting innovation and philanthropy. With a finite total supply, Islamic Coin meets all the criteria of a Halal asset. 10% of each issue is deposited into the Evergreen DAO for further investment in Islam-related businesses or donated to Muslim charities, bringing direct economic value to the community.
In June 2022, the currency gained a Fatwa, issued by major Muslim authorities around the world. Later in August, Islamic Coin raised $200 million in a private sale, breaking all records for the year. Islamic Coin focuses on sustainability, ethics and transparency. His wallet information is freely available through gnosis-safe.io.
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