Dec 8 2018
Sharia Solution for Modern Cryptocurrency Transaction with ADAB Solutions
With the rapid development of technology, everything is getting more comfortable and faster. Especially in the financial aspect, there are plenty of innovations that will make your life more fun. Cryptocurrency is one of the most popular products from the financial investment you can try. But, some people might feel worried about its concept and system. For example, many Muslims are getting aware of the halal aspects in any transaction. Therefore, when it comes to cryptocurrency, Muslims are quite picky to choose the products.
Islam taught a rigorous rule about the transaction, as it doesn’t bother any party of the deal. In other words, every party in the transaction will be rewarded with good, making it a pleasant transaction without any disadvantage. Besides, Islam also prohibits Muslims from doing and using some haram things, as it will ruin their life. When it comes to cryptocurrency transaction, there are still so many questions about its halal status. But, it doesn’t mean that cryptocurrency cannot give the best result for Muslims’ life. With a sound system and sharia-based concept, a halal cryptocurrency is not impossible to have.
The Importance of Halal Crypto Transaction
As a Muslim, you might feel curious about cryptocurrency, but you might be in a dilemma as you don’t know whether it is halal or not. Although there are plenty of financial products available on the market, you might think that cryptocurrency is not a suitable thing for you. A halal cryptocurrency system is necessary for any Muslim. Here are some reasons why halal cryptocurrency system and usage is essential:
- Everything that is halal is a blessing for the owner. Especially when it comes to the Islamic financial aspects, the halal status of a matter is essential. You might purchase a thing with haram money, and it ends up to be haram, too. Therefore, making sure that your money and another payment method to be halal is critical in Islam.
- Your money, whether it is fiat currency or cryptocurrency, will be considered as halal when it comes from a good source. It means, you didn’t steal, lie, or get them by doing haram ways. If you have halal money, then you can use it for doing zakat, infaq and shadaqah. Always remember that zakat, infaq and shadaqah are only allowed when you use good-sourced money.
- The top cash will bring goodness, while haram money will bring misery. Always remember that principle when you want to have a happy, comfortable life as a Muslim. It is the essential thing to consider when you are a good Muslim to keep everything you have, eat and use as the halal thing.
So, what about cryptocurrency? People still debate about the use of cryptocurrency for the financial transaction. But, as long as users use them for good, it can give more reward from Allah. Now, you don’t have to be worried about halal transaction options using cryptocurrency.
Introducing ADAB Solutions for Halal Crypto Transaction
If you are a Muslim and you’re looking for a halal option for doing your transaction using cryptocurrency, you can choose the service from ADAB Solution. It is a platform in which every Muslim can do the purchase using cryptocurrency without getting afraid of any haram risk when doing the deals. Cited from their website at http://adabsolutions.com/, ADAB Solution exists to solve any problem in aligning the use of crypto assets with the Islamic principles. In this case, their goal is to make a global platform of cryptocurrency that is suitable with Islamic moral and culture for Muslims.
ADAB Solution provides more than just a platform for doing the transaction with a halal principle but also improves its function as it has many features. In this case, it has a purpose for launching the First Islamic Crypto Exchange that is more suitable with Islamic culture. Thus, it will result in a good way for improving the projects and other advantageous, supportive system for Muslims. If you want to know more about their development, you can get more information from their Facebook page at https://www.facebook.com/adabsolutions. In their page, you can get more insights about their projects.
The services from ADAB Solution are also various. But, there are some core values that make their services always a step ahead in providing a halal transaction solution. Here are some things of ADAB Solutions that are advantageous for its users.
- ADAB Solution provides comprehensive analytics, making sure that your project will result in the best, most satisfying manner. In this case, you will not only do the transaction in a pleasant environment but also give you a good background for doing any deal with people from around the world.
- This platform also provides the best protection for any transaction you do in this good environment. As a global environment of halal sales, you can get the best when improving your business and investment. Don’t worry about any market manipulation and margin trading, as everything is well-protected with Islamic values.
- As a leading halal platform for cryptocurrency transaction, you will have lots of benefits from ADAB Solution. A professional team will make sure that the system is excellent and based on Islamic values. Therefore, you can be sure about its halal status and how it can be a good start for doing more good transactions.
By understanding those principles, you will realize you will be happy when you can do any transaction for purchasing things, services and others from a trusted source. If you want to know more insights about its improvements and core values, you can read ADAB Solution Whitepaper at https://adabsolutions.com/pdf/WhitePaper_of_ADAB_Solutions.pdf.
How ADAB Solution Limits Haram Transaction
When you want to try this platform as your option in doing and purchase an investment. At this point, you might ask about what makes this platform different than any other platform in the same category. Indeed, it takes more than just an understanding of Islam to get to know the best solution. Besides, you will also need to know about what is halal and haram in Islam.
ADAB Solution makes sure that you will get only better from the halal process and system in this platform. To ensure that your transactions are protected and functional, this platform will prohibit you from doing any haram transaction. In this case, with ADAB Solution Sharia Advisory Board, there are some types of activities as follow:
- Usury, as the modern environment is getting more sophisticated, people seem to forget the fundamental law of usury, which is haram. The conventional banks and investments in stock exchange are considered as haram, due to the usury aspects in its activities. ADAB Solution prohibits any of its users to do the transaction which is related to usury.
- Production of tobacco and alcoholic products are also banned in this platform. Based on the laws in Islam, alcohol and tobacco will cause damage to the body, making it a haram things to consume. Indeed, Islam considers a thing as haram as long as it causes damage towards the users and consumers. It is all for the goodness of Muslims.
- ADAB Solutions will not approve any activities for any immoral service. So, you will not be able to make any purchase and pornography content from this platform. However, you will feel peace as your heart is far from any immorality, making you feel more content about your life.
- Gambling is also an activity that is not allowed to do in this platform. In this case, gaming is not a type of sharia transaction. It also contains a fraud aspect, which makes this kind of activity will never get any approval from ADAB Solution sharia board.
The existence of Sharia Advisory Board is somehow essential to make sure that the platform is running professionally. Indeed, as a platform with firm Islamic values, the role of the board is more than just vital. They are the base of the transaction, and it is the principle for them. The committee is also responsible for giving advice and information about a matter of halal and haram in the digital ecosystem. You can get more updates from their boards by following ADAB Twitter account at https://twitter.com/AdabSolutions.
Getting to Know ADAB Token Sales and Usage
As a cryptocurrency platform, ADAB Solutions also provides their own token to ease any transaction in their ecosystem. They release ADAB token, a cryptocurrency to use in the platform for giving easiness for the users to improve their activities. This token has some benefits and advantages as follow:
- Their token is a well-developed model that has a purpose of maintaining the value. It means they have a good condition and stable position for their tokens.
- ADAB Solutions sticks with the halal concept, meaning their tokens are also halal and will be useful as a transaction tool for Muslims all around the world.
- It also has a deflationary model, which makes sure that the coin is decreasing as the sale is getting more intense.
- You might be frustrated as one of those people who have difficulty in exchanging the cryptocurrency to fiat money. Now, you don’t have to be worried when using this crypto, as everything is good and you can freely exchange the currencies easily.
By getting those advantages from ADAB tokens, you might want to know the reasons why you have to join in their token sale. Indeed, this platform has offered their tokens in ICO programs, making sure that everyone who needs a halal transaction alternative is excellent and comfortable with their service. Here are some reasons to use their program:
- It is the first cryptocurrency with Islamic values. Of course, as a Muslim, you need to choose the right alternative in purchasing digital investment. A wise investment is not enough as you need to always look for the Islamic values to make sure your investment is halal. By using ADAB token, you don’t have to be worried about them anymore.
- You might see how the market is developing and expanding at the moment. The rapid development also improves the new markets that are more challenging, more unique and will require more than just a regular cryptocurrency service. By using this token, you can answer every challenge of the new market era.
- When compared with other ICO price, ADAB Solution has the lowest price. Thus, it is making sure that it will be a good start for you if you want to invest in this platform. They also have crystal clear information about their products. Therefore, you can get the best information about your desired outcomes. To get more info, you can also access https://bitcointalk.org/index.php?topic=4720775.
- With the rapid development, of course, it gives a high potential for future development. Especially when you see the growth of token values, you will understand why investing in ADAB token is an excellent strategy to get the best profit in the future. So, you can prepare your participation in their token sales immediately.
- By investing in ADAB token, you will also contribute to the Islamic financial system. You might not know about how Islamic economy has been growing in the last years. It is strengthening and improving many people’s lives to be more productive and blessed with well-sourced wealth. So, you can also get your turn by investing in ADAB Solutions.
This platform exists due to the growth of cryptocurrency platforms, but no one provides an excellent, trusted system for a halal transaction. Therefore, the team built ADAB Solutions as a global platform where every Muslim can get more than just a financial ecosystem. ADAB Solution is also a good start for improving Islamic finance and the economy. With its global scope, the platform will give a complete thing for carrying comfort and peace for Muslims in doing their online transaction. If you want to get a good discussion with fellow crypto users, you can join in their Telegram account at https://t.me/Adabsolutions.
Many people are happy with ADAB Solutions as it opens new opportunities for Muslim to get the turn in the global economy. Besides, by providing a halal environment, the low participation of Muslims in cryptocurrency trading will be increased. Therefore, it will be an excellent start to get a solution for global problems.
Posted by kurniawan05
https://bitcointalk.org/index.php?action=profile;u=1187741
Feb 25 2019
Blockchain Helping Rento as Sharing Economy Platform
Nowadays technology is growing rapidly from year to year. Almost in every aspect of life, there are technologies that can help human life. One of the goals of technology is to make it easy for humans to do their jobs. Every day, more and more creativity arises that gives new innovations in existing technologies.
The development of technology today is inseparable from the demands of living. Humans are required to carry out various kinds of activities by not using too much time, space and money. This is what makes humans turn to use modern tools. However, it still requires humans to operate it.
Smartphone is one of the technology that is very close to humans and help in everyday life. Nowadays smartphone has a very important role in human life. Although its function as a communication tool, smartphone also simplify the business and work affairs of its users. As the name implies, you can do business with only one finger. Things like making a letter, sending an email and even transferring money, all can be done on one cellphone. You don’t have to bother opening a laptop to send an email or going to a bank to send money because it has been helped by the presence of a smartphone.
One of the technologies that have created and brought major changes is blockchain technology. Blockchain was introduced in 2009 which also coincided with the introduction of bitcoin by Satoshi Nakamoto. The blockchain is a decentralized system where each transaction does not require an intermediary. To be simpler, at this time every time you make a transaction, you need a bank as an intermediary in sending or receiving money. Meanwhile for the blockchain, there is no intermediary on the transactions made so that it speeds up the process and can be accessed by anyone because the blockchain does not belong to a company or individual. Everyone can access if there is an internet.
The blockchain technology is actually created because of a centralized software work system. When it is compared to centralized systems, the blockchain has many advantages. The strength of the blockchain is that it faces strong attacks and hacked servers. The transaction activity will not stop because there is another server handling the transaction unlike the centralized system that will be cut off once the system is being hacked.
These advantages make blockchain technology adopted by several digital platforms. There is a statement that if the global sharing economy of the industry is combined with blockchain technology, it will change the state of the human economy. One of the example is Rento. Rento is a global sharing economy application that offers loans for underutilized products or assets. The Blockchain offers transparency that can be accessed by anyone and that also applies to Rento in running its platform.
Ann Thread: https://bitcointalk.org/index.php?topic=5076209.0
Website: https://rento-app.io/
White paper: https://rento-app.io/assets/whitepaper.pdf
Blockchain changes the global sharing of the industrial economy
Using blockchain technology is the right choice for Rento because the blockchain has the advantages of transparency, smart contracts, and irreversible records. This certainly provides an opportunity for Rento to be able to change the industry of sharing economy to become more advanced and trusted. If you are curious about what can be done by blockchain technology to change the industry of sharing economy, here are the list:
One of the advantages of the blockchain is the transparency that occurs in every transaction. You can see and access information and transactions that occur. Data that is accessed and available is not possible to be manipulated because every changes in the data must be in accordance with the actual transaction. That is what will be applied to the Rento platform.
The sharing economy can run well if you get trust not only from the borrower but also from the product or asset lender. The blockchain technology will provide all relevant information about the assets or products to be lent. The information can also be accessed by each party easily just by connecting to the internet. With the transparency of the sharing economy, it can also minimize interactions between potential borrowers and lenders to maintain transparency in the ecosystem.
If you make a transaction through a bank, there is an additional fee if you transfer to different bank. Usually each bank has its own set of costs for each transaction. Likewise, if you do an overseas transaction, you will be charged a huge fee which will automatically be deducted from your balance. This is because banks also consider the conversion costs of foreign exchange, transfer fees, and the cost of sending money.
On the blockchain, the transaction fees charged are far lower than centralized systems like bank. You do not need to pay more when doing every transaction on the blockchain even the cost is cheaper than through the traditional bank. Besides being cheap, the transaction process is only a fraction of a second. Unlike traditional bank transactions that take a long time to be processed. The ease, speed, and transparency of this transaction can occur also because of the digital cash.
A transparent blockchain system makes all people who access can see all the relevant informations. So the possibility of crime and fraud is getting lower. The openness of the blockchain structure also complicates the movement of fraudsters to commit crimes. In addition, with the validation methodology, it will ensure the authenticity of each feedback provided. Therefore, there is little possibility of fraud on a transparent blockchain structure and every information is validated.
The smart contract exists with the aim of creating a binding agreement or agreement consisting of several parties. The smart contract was first conceived by a cryptographer named Nick Szabo. If you usually store the information in the form of documents, then in the blockchain smart contract takes the form of a code. Contracts that occur later are of a permanent nature that cannot be changed again.
Smart contracts are actually made to overcome trust problems that usually arise if people make a transaction or borrow goods or products. With the existence of a smart contract, payments and transactions will be guaranteed and deposits will also be saved when the goods are being lent. It certainly provides protection against financial risks that may occur when goods are lent. The smart contract also offers efficient risk priority mechanisms.
Rento was created to provide convenience and speed in borrowing goods. But besides that, Rento also wants to grow the sharing of the economic ecosystem more broadly than the existing industry. Like hotels and transportation that have already run the industry. Therefore, Rento wants to cover other fields that have potential in this sharing economy industry. One of them is daily products or services. The platform is created to facilitate all lending and borrowing activities using blockchain technology. The technology also will ensure international transactions run safely and smart contracts that facilitate goods collateral.
Ann Thread: https://bitcointalk.org/index.php?topic=5076209.0
Website: https://rento-app.io/
White paper: https://rento-app.io/assets/whitepaper.pdf
The Key Components of Rento Ecosystems
As previously explained, Rento wants to expand its ecosystem to exceed the existing industry. To be able to run it all, of course, it requires the consistency and development of the main components of Rento so that the desired ideals are achieved. Therefore there are three key components of the Rento ecosystem. The three are:
The application is one of the key of Rento Ecosystem. The aims of Rento is to share the industrial economy in a larger scope. So it will not only focus on transportation, real estate, and hospitality industries but also other industry which also is useful for people. Such as daily use items, office rooms, meeting rooms, equipment tools, hardware devices, construction tools, cameras, and other items, goods, or service that will likely be useful and needed. There are features available on the platform in order to make the rentals getting easier. Those are the feature for the users or the borrower:
a) The listing page
Listing page is one of the important feature available in the platform. In this section, there is a list of all the available products and services ready for being rented by the borrower. It also supports many classifications such as searching filter and geo-filters that will help you in searching relevant items needed.
b) Search Engine
This feature will help the customers to search what the product or service that they need. In addition, It also has the filter and sorting capabilities to make the customer easier searching product.
c) The Renting calendar
The calendar feature in the Rento application is used to see whether the product and service they need is available or not. Every product and service its availability can be seen in this feature. In addition, later Rento will launch its new feature called “Book-in-advanced” once the platform is launched. Users can also approach a product based on their listed opening.
d) Feedback
Rento provides feedback features where borrowers can give their ratings and feedback after renting the product or service that they need based on the experience that they get while using it. In this case, blockchain technology is very helpful in preventing and minimizing the feedback manipulative provided on the platform.
After knowing the feature of the users, there are also features available for the listing owner. The feature available helps the listing owner to monitor its active product or service which is being rent. Therefore, it is different from the users. These are the features for listing owners:
a) Active Listing
This feature will help the listing owner or the lenders to find its active listings in one location. The listing owners can also see the renting schedule for its product or services on the active listing page.
b) Listing and Advertising package details
For listing owners, they can access the details package on the dashboard. In addition, Rento will provide points to service providers or businesses if they have finished registering. Later, Rento will also introduce ad positions and premium listings after 2020.
c) Customer Insight
Customer insight feature is available for listing owners so they understand how the customers behaviour. In addition, this feature can also provide rental preferences and some parameters so that the business can develop better.
The advantages of blockchain technology seem to be suitable for the application of the global sharing economy. Rento is one of those who has used the technology on its platform. Rento creates an ownership blockchain that has different features for sharing the global economy. In addition, Rento made the chain specifically for the global sharing economy. Making sure that it is the best database needed for Rento ecosystem.
a) Custom Smart Contract Facility
At present, Rento requires a special smart contract that has the flexibility to be able to expand the functionality to face challenges in the future. It is because on the blockchain platform there are currently no special smart contracts that Rento needs.
b) Handle dispute resolution
When disputes between borrowers and lenders occur, Rento must have full control of the blockchain system. So it needs its own blockchain so that problems can be resolved in accordance with local regulations. This cannot happen if Rento uses a blockchain from a third party.
As the name implies, Rento Model Store is a rental shop that will provide various rental products such as household appliances, lawn tractors, and scooters. All rental transactions remain through the Rento platform. The presence of Rento Model Store can also strengthen credibility and promote the vision of sharing economy directly. Another advantage gained from using this service is that feedback will be immediately heard by Rento from the customer after they use the product or asset they rent.
The Rento Model Store service also opens up the possibility of becoming a franchise brand where if there are people who are interested in operating the Rento Model Store under the Rento franchise, they must achieve a number of conditions in accordance with the franchise agreement.
Ann Thread: https://bitcointalk.org/index.php?topic=5076209.0
Website: https://rento-app.io/
White paper: https://rento-app.io/assets/whitepaper.pdf
Posted by: kurniawan05
https://bitcointalk.org/index.php?action=profile;u=1187741
By admin • Blockchain Technology 2 • Tags: Ann Thread, business, fraud, information, money, Rento Model Store, service, smartphone, Social Media, technology