ISLAMIC Coin and it’s vision

Do you know Nearly 2 billion people, or about one-fourth of the world's population, practice Islam, making it the second-largest religion. In 47 nations, the vast majority of people are Muslims. Islam asserts that God is merciful, omnipotent, and distinct.

Islamic law, often known as Shariah law, is a system of religious legislation rooted on Islamic culture. Numerous elements of Muslims' life around the world, especially their interactions with money, are governed by it.

The ban of collecting or charging interest, which is one of the fundamental tenets of Islamic financial law, is today ignored by a significant portion of the financial institutions that make up the modern financial system.

As the ecosystem grows the size of the Islamic financial sector was $2.88 trillion in 2020, and the Global Islamic Economy Report projects that it will reach $3.69 trillion by 2024. The rapid growth of the Muslim population, the proliferation of digital technologies, and the development of mobile communications are three of the four major variables affecting the expansion, as well as the Islamic economy in particular, according to the same report.

Due to its restrictions on speculative transactions and uncertainty, as well as the focus it places on fairness and risk-sharing, the Islamic financial system has largely escaped the recent financial crisis.

Our Goals

Our goal is to equip the global community of Muslims with a solid and reliable financial tool that promotes creativity and generosity while enabling individual financial interaction.

IsalmicCoin has the potential to rank among the most significant and valuable crypto assets by utilizing the strength of the community. Islamic Coin will reach bitcoin-scale crypto asset status if 3-4% of the internet Muslim population decides to hold it, creating a trillion dollars for its owners and $100 billion for the Evergreen DAO.

Features of Islamic Coin

• Islamic currency cannot be issued at will or depreciated.
  Additionally, it cannot be unilaterally deflated by an increase in interest rates because the market sets its price, which is always fair.
• Islamic Coin is automatically created at a predetermined publicized rate and distributed to validators and delegators who actively support the operation and security of the Haqq network.
• Islamic Coin is not managed by banks, whose primary job is to make money by collecting interest, as is the case with fiat money. It is haram to charge interest because it causes riba.
• Each time a new Islamic Coin is minted, 10% is deposited into a special Evergreen DAO for further investment into Islam-related ventures or donated to Muslim charities. This is the first introduction of a coin bringing direct economic value to the Muslim community

Protocol for Inter-Blockchain Communication

We think that the open ecosystem of blockchain should continue to exist. We also think that compatibility with other blockchains is a crucial component of openness. This idea encapsulates one of the most significant arguments in favor of using Cosmos SDK as the base for the Haqq Blockchain.

IBC is a protocol that outlines how IBC clients (primarily, blockchain networks, though not only, them) can read the proof specifications and consensus states of other blockchains, which are necessary to correctly check proofs against the client's consensus state.

Since Haqq is IBC compliant, it can interact with other networks that are also IBC compliant and that already have more than $148 billion in assets under control.

As its name suggests, IBC is a broad communication protocol rather than a cross-chain token transfer system. Blockchains can communicate with one another thanks to IBC. This includes, but is not limited to, the transfer of tokens. This contrasts with closed networks like Ethereum, where connecting to other networks is only possible through token transactions.

IBC compatibility will link Haqq to the rest of the Cosmos ecosystem once it is activated. This includes Osmosis, an interchain AMM with ambitions to interact with Ethereum and other EVM-compatible networks in addition to Cosmos networks. The Haqq team is also thinking about putting into place a direct bridge to Ethereum with a more straightforward user interface.

I’ll sum up by saying that a closer examination of tokenomics reveals that demand and supply are both essential components of a successful token economy.
To create an environment where allocation and emission are regulated in a sustainable fashion, supporting long-term growth rather than short-term gains, a solid tokenomics design is essential, such as that of the Islamic token supply.

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