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ADAB Solutions is developing the FICE - First Islamic Crypto Exchange , based on the norms of Shariah.

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FICE: First Islamic Crypto Exchange by ADAB Solutions to Launch Next Year Using Halal Coins

Many Islamic countries, unlike its Western counterparts, have no separation between Church and State. This means that the Shariah, the religious law, is very important in most of these countries. Because of this, ADAB Solutions, a project based in the United Arab Emirates, is planning to launch the First Islamic Crypto Exchange (FICE). This exchange will follow all the principles of the Shariah and it is expecting to trade $146 million USD daily in 2020. The new project has already called the attention of the crypto community and was recently marked as one of the most useful ideas in a top 10 created by Coin Shark. The company affirms that this new exchange will give an opportunity for the crypto market to finally enter the Islamic world of finances and that it will operate following the Shariah to ensure that it is compliant. There will be two special departments that will have to be created in order for the exchange to work properly: the Department of Islamic Finance and a Shariah Advisory Board. The board will have many Islamic experts that will confirm that the tokens listed on the FICE are “halal”, which means that they are compliant. This way, Muslins will finally be able to enter the crypto world without committing a sin. ADAB Solutions has already affirmed that the main difference form an Islamic platform like FICE and a traditional crypto exchange is that no speculation and market manipulation will be allowed, which he says that is very common in the crypto market. Future Plans For The FICE The next few years will see a boom in the Islamic finance world as the market has grown 10 to 12% yearly for the past 10 years and the expectations are that it will continue to grow soon. Analysts at Thomson Reuters have estimated that the Islamic Finance will be valued at $3.8 trillion USD and will be spread across about 60 countries in 2022. With over 1.8 billion Muslims in the world today and the numbers always growing, it is expected that ADAB Solutions has chosen the right time to start to pay attention in this market, as the idea is highly relevant right now and has potential for exploring a new area. ADAB Solutions is already with an Initial Coin Offering (ICO) open. It was launched in August 2018 and it will continue to sell ADAB tokens until the end of February 2019. At thge moment, you can buy the token for only 10 cents in USD. Expectations are that the price will rise to $11.50 USD at the end of 2022, however. The company has already promised token burns to keep the value of each token high and they will be used on the platform. At the moment, ADAB Solutions plans to attract at least 730,000 people during 2019, when the platform will be launched. The goal is to reach 1.9 million Muslims at the end of 2022.
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ADAB Solutions: Building the First Islamic Shariah Compliant Cryptocurrency Exchange

This is a sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. In the past few years, the cryptocurrency market has seen a sharp increase in adoption from countries in Asia, Africa, and East Europe. For the majority of cryptocurrency’s existence The post ADAB Solutions: Building the First Islamic Shariah Compliant Cryptocurrency Exchange appeared first on CCN

ADAB Solutions’ First Islamic Crypto Exchange (FICE) To Serve 1.8 Billion Muslims Once Launching

First Islamic Crypto Exchange (FICE) To Launch and Serve 1.8 Billion Muslims Even if you live in the Western world, you have probably heard about the shariah, the Islamic law. Not only the Islamic law governs some aspects of the political and societal life in Islamic countries, but it also regulates their financial market. Now, a new exchange created by ADAB Solutions called First Islamic Crypto Exchange (FICE), has been launched to be 100% compliant with the shariah laws. With its so very original name, FICE is a financial services firm registered in the United Arab Emirates. The shariah derives its teachings from the Holy Quran book (the Muslims’ equivalent of the Bible), which is followed by 1.8 Muslims worldwide. While it would simply not be sensible to believe that all these Muslims would only use an exchange compliant with the shariah, FICE is ready to take this share of the market and it projects a total volume of $146 million USD on the platform daily. The exchange is expecting about $4.4 billion USD during the first year and a half of the project and its main goal is to increase the adherence of the Muslim community for this kind of app. As traditional Islamic banking is very common in most Islamic countries, the company is not trying to introduce its services to users who want to be compliant with the Islamic finance rules while using the blockchain technology and cryptocurrencies, so the company expects to be an open gate to this new world for Muslims. The UAE-based company notes that there is a total of about 250 large exchanges around the whole world, but they are not aimed at the Islamic world. Because of this, FICE, as its own name so clearly states, intends to be the first exchange to reach out to the Muslim community to do business. This way, ADAB Solutions is hoping to find Muslim crypto traders and investors. How? By providing an environment that can be compliant with the moral from the religion, unlike most of the exchanges in the world. No Immoral Services Allowed The main way to actually be compliant with the shariah is to create a platform that will not allow for “haram”, the immoral services banned by the Islamic law, only “halal”, permissible ones. According to ADAB Solutions, the company will not support usury projects which have loans at very high interest rates or will not offer the so-called immoral services. Gambling and alcohol-related tokens, for instance, can be considered immoral. However, there is no clear definition on what can be considered immoral or not. For instance, it is possible that the company will not support futures contracts or prediction markets, for instance, as they may involve gambling and betting, which is forbidden by the Islam. Any services related to the production and commerce of alcohol will also be banned from the platform. No speculative deals will also be accepted on the platform. Bitcoin, however, is not forbidden, as the Islamic scholar Mufti Muhammad Abu Bakr concluded that Bitcoin is not haram as it is compliant with the shariah, because it is used as a medium of exchange in many countries. The ADAB Token And ICO The company is planning an Initial Coin Offering (ICO) to fund its investments on the platform. ADAB Solutions has created the ADAB token, which will start to be sold in September. The tokens will be only crypto that you can use to pay for fees on the service.
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OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts

The recent popularity Initial Exchange Offerings (IEO) have been experiencing over the last few months has brought what it appears to be like a new bull run. An incredible example of success is the OKB token issued by OKEx, one of the largest cryptocurrency exchanges by trading volume in the world, which has impressed the market beyond expectations having experienced an increase in the price of 163% since launched. Shinobi Capital, a leading blockchain advisory firm and also an investor in early-stage start-ups, has released its latest evaluation report estimating that the OKB price will grow further to US$30.75, 17 times the current price, by the end of 2020. According to Jason Hill, the founding partner of Shinobi Capital:  Exchanges tokens will be the powerhouse of the development of the digital asset market and even blockchain technology. Following a series of IEOs powered by exchange tokens in H1 2019, the market is marching to the next round of bull run. OKB, as a market leader of exchange tokens, is also welcoming its own uptrend. Backed by a number of use cases and a large user base of OKEx, OKB has demonstrated a huge potential of growth. The established blockchain and cryptocurrency advisory firm is well-known for its extensive experience in start-up investment. In their evaluation report of OKB, Shinobi Capital lays out the two most important factors that will affect OKB’s future trading volume, the development of the OKChain mainnet and the overall the crypto market condition. Furthermore, the report also establishes a comparative evaluation model with other major platform tokens, including Binance Coin (BNB), EOS, and TRON (TRX). This comparative evaluation studies different aspects of each token such as trading volume, price patterns, and usage demand. The latest OKB buy-back & burn program is also taken into account to evaluate the token’s future price trend. It is expected that by the end of 2020, the price of OKB will reach USD30.75 and its market capitalization will be about USD7.068 billion. There is a significant growth lag in OKB at this stage, and the potential of price growth needs to be further released. In the next round of market recovery and boom, OKB is likely to become one of the fastest-growing assets in the market. Disclosure: This is a sponsored press release The post OKEx’s Token Will See 17x Growth in Price, Blockchain Investment Firm Forecasts appeared first on NullTX.

Ethereum Classic presents roadmap to improve DApp development and overall infrastructure

Experts of the cryptospace are making use of DApp services to simplify the entire blockchain process. Along these lines, Ethereum Classic’s [ETC] core development team has put forth an initiative to revamp its existing ecosystem. Moving forward with an aspiration for refinement, ETC’s team is developing fresh features over blockchain technology, a development that will […] The post Ethereum Classic presents roadmap to improve DApp development and overall infrastructure appeared first on AMBCrypto.

David Marcus Grilled During Facebook's Senate Hearing

During the first of two congressional hearings regarding Facebook's Libra cryptocurrency, project lead David Marcus went as far as to say he'd be willing to take his salary in Libra after intense grilling from Senator Sherrod Brown.
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David Marcus Questioned Over Libra by Congress

Facebook is finally facing its reckoning as David Marcus, head of the company’s blockchain division and the leader of Libra, the venture’s new cryptocurrency, was grilled by Senate members who refuse to believe in Facebook’s allegedly noble financial plans. Libra: A Congressional Issue? Many people have a hard time believing in Facebook’s morality following the Cambridge Analytica scandal. Discovered in 2018, Facebook had allegedly been selling users’ private data for years to third parties for advertising purposes. Following Mark Zuckerberg’s Senate hearing last year, trust in Facebook has fallen to an all-time low. In many ways, this new “congressional step” for the social media conglomerate should serve as a huge learning experience. When you’re a company of Facebook’s size and you do anything to compromise the safety or privacy of your customers, you can bet it’s going to take a long time to earn their trust back. Facebook is learning this lesson in spades right now, as several Senators taking part in the hearing commented about the lack of trust they feel towards the company and its executive team. Sherrod Brown, a Democrat from the state of Ohio, commented:  Facebook has demonstrated through scandal after scandal that it doesn’t deserve our trust. We’d be crazy to give them a chance to let them experiment with people’s bank accounts. Senator Martha McSally, a Republican from Arizona, stated that Facebook is simply trying to shift gears and get people to focus on something else entirely, in this case cryptocurrency. Rather than seriously attempt to fix its reputation, it’s working to divert people’s attention with an entirely new product. She says: I don’t trust you guys. Instead of cleaning up your house, you are launching into a new business model. In addition, Facebook is also being criticized for its complete lack of coordination with policymakers. Throughout the early development of Libra, Facebook’s executive team failed to make any contacts with regulators or legal authorities to potentially understand how the cryptocurrency could better satisfy present financial laws and terms.  Trust Takes a Long Time to Build At least David Marcus isn’t lying to himself. He acknowledged during the hearing that it would likely take a while before the company can earn people’s trust well enough that they would provide their banking details. He states:  I want to make it clear that we are only at the beginning of the journey. We expect the review of Libra to be one of the most extensive ever. Facebook will not offer the Libra currency until we have addressed the concerns and receive appropriate approvals… We will not control Libra and will be one of over 100 participants that will govern over the currency. We will have to gain people’s trust if we want people to use our network over the hundreds of competing companies. The post David Marcus Questioned Over Libra by Congress appeared first on Live Bitcoin News.
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Waves CEO Has Sold His Stake At Vostok, A Waves Blockchain Affiliated Project

Alexander Ivanov, the founder, and CEO of Waves has recently decided to fully sell his stake of Vostok, blockchain spin-off of the Waves platform. According to a recent press release, now only the GHP Group, which bought all the stakes, will be the owner of the project. The CEO also affirmed on the press release that […]
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