Newly launched Shariah-Compliant Islamic coin wins the ethics debate

Newly launched Shariah-Compliant Islamic coin wins the ethics debate

DUBAI, UAE/PRNewswire/ -- Crypto has captured the imagination of millions, if not billions, after the Crash of 2008.

Whoever Satoshi Nakamoto is, and whatever his intentions were for inventing Bitcoin he inspired thousands of startups, each offering community-driven, decentralized financial tools that provide one benefit or another. We saw the emergence of new stars, followed by the first unicorns. In 2021, the total cryptocurrency market was valued at US$ 1.782 trillion.

Conference after conference, webinar after webinar, couch experts emerged from their mothers' living rooms to become global influencers preaching about a new era of money that is independent of central banks and thus the key to a better, fairer world. But is that really enough for $1.782 trillion in 2022? Does being independent from central banking make you ethical by default?

Some would argue that is not the case, because ethics is first and foremost about what's right and wrong, and this is where religion can play the role of a guarantor. A role it has been successfully offering to millions for centuries and now, for the first time, in crypto.

For the world's Muslim community, and the world as a whole, Shariah-compliant finance offers a historic opportunity to develop financial tools that