ADAB SOLUTION - Exchange of the First Crypto Islam in the World in Accordance with Sharia

fixzion (25)in #investment • 6 years ago (edited)

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.

About ADAB Solutions

ADAB solutions is a project creating the first Islamic crypto exchange (FICE) based on the Shariah laws. The platform follows the moral and cultural Islamic values while providing access to all users of crypto currencies. The project will be registered in the UAE while the exchange platform (FICE) will be registered in Switzerland to enable exchange of cryptocurrency to fiat. The main aim of the project is to reduce the ethical uncertainty of the Islam community on the crypto industry in order to increase their participation in this first growing industry.

FICE will have the capability to handle up to 3 million transactions per second making one of the fastest in the industry. Its functionality will include key functions of crypto exchange, spot trade, technical analysis, unlimited withdrawal of funds among others. It will initially support trading pairs in BTC and ETH while other cryptocurrencies will require approval from the Shariah Advisory Board. It will also support cross-platform trading clients for both PC and mobile devices.

Studies into the cryptocurrency market among Islam commenced in June with the goals and objectives that lay the foundation for ADAB solutions being formed in September 2017. The white paper was prepared between December 2017 and May 2018 and the registration of the exchange is set for October 2018.

Features Of The FICE :

Shariah-Compliant : As mentioned earlier, the FICE is shariah-compliant which makes it very unique. This is to ensure that a global infrastructure that has at its core Islamic finance is created. There is a Shariah Advisory Board which researches and ensures that the elements part of the exchange’s ecosystem are all compliant with shariah law thus promoting the development of Islamic crypto-economics.
Huge Audience Including Non-Muslims : Despite being built on shariah principles, this exchange is not limited to muslims only, although it targets the over 120 country countries part of the Islamic Ummah. Again, this is to ensure that Muslims with a very strict sense of esteem for Islamic virtues can have and trade cryptocurrencies at their doorstep.

Solving the problem of the Muslim community, such as :

Adab Solution will solve the operating problems of halal cryptocurrency
Adab Solution will solve the problem of excessive cryptocurrency system risk
Adab Solution will solve the problem of developing Islamic cryptocurrency infrastructure
The absence of crypto exchange, functions in accordance with Sharia norms
The lack of an integrated position of the Muslim community regarding cryptocurrency
Muslim uncertainty about receiving work with cryptocurrency
From the existing crypto exchange turnover, zakat is not paid.

Cryptocurrency market problems :

Very low interference by Muslims in the cryptocurrency market
Lack of public trust in key crypto economic tools
Lack of new markets and investors

The uniqueness of the Adab Solution project :

The Adab Solution project has no analogues in the world. At present, there is not a single cryptocurrency platform or crypto exchange, which will guarantee Sharia-based activities. This project will be the first project that will enable cryptocurrency transactions in accordance with the principles of Islamic finance and on the basis of Sharia norms.
The Adab Solution project is aimed at a very large audience of 1.8 billion potential Muslim users from the cryptocurrency market.
Projectability of the project. The Adab Solution project is designed according to the highest security standards and has unique technical features from key software solutions.
The Adab Solution Project forms a value system based on Sharia norms and Islamic finance principles, which will be the basis for self-regulation of the crypto currency market and will increase the level of confidence in key cryptocurrency instruments.
Full transparency of the Adab Solution project. Project transparency and safe jurisdiction will make it possible to buy and sell cryptocurrency for fiat money.
Project objectives and mission
The Adab Solution project is developing FICE-First Islamic Crypto Exchange, based on Sharia norms.
The Adab Solution project aims to create crypto-exchange platforms, share exchanges and services that comply with Sharia norms and operate on Islamic principles.
The mission of the Adab Solution project is to create conditions and services based on high Islamic moral and cultural values and provide access to all crypto economic users.
The main task of Adab Solution is to create a structure that will set new ethical standards for doing business in the industry.
ADAB - standards of behavior that are determined by Sharia norms, including good behavior, standards of modesty, politeness, humanity.
The name Adab Solution is a big responsibility for project creators.
ADAB is a way of life in Islam, which the founders of the project consider not only natural in everyday life, but a foundation of a mandatory business relationship.

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.

Why do you join the project and purchase the capital?

First Islamic Encryption Platform.Adab Solutions makes it possible to carry out encryption transactions according to Islamic finance principles based on Sharia's criteria and we are the first company to solve this problem. Development of new markets.Adab solution - millions of users who had not invested in cryptographic assets once, this will benefit the entire cryptographic economy which will increase with new participants who had previously seen that development from a side I will bring it. The lowest price of ICO. The number of tokens issued at the beginning is the maximum and the final value. In addition, the number of tokens will decrease and the price will rise. Possible high growth potential of token value Client base expected growth and FICE transaction volume is a direct factor of ADAB token price.

ADAB Token ICO Details

The initial coin offering will be held between July 15th and November 23rd at an initial cost of USD 0.1 a unit. ADAB tokens will only be released during this period and no further tokens can be created or mined. ADAB forecasts a daily trade volume of USD 140 million and a turnover of USD 4.2 billion within the first 18 months of the exchange’s operations.

ICO terms and conditions:

Name of the token: ADAB
Total number of tokens released: 480 000 000
Private Pre-Sale is live now
ICO start: November 18, 2018
End of ICO: December 28, 2018
Price of the token: 1 ADAB = 0.1 USD
Accepted currency: BTC, ETH
Soft Cap: $ 2,500,000
Hard Cap: $ 18,700,000

The Project Team

There are people in the ADAB project who are very close to the Muslim world, understand it well and have many connections in the Arab world. The team includes respected people who occupy leading positions among the most influential people of the Muslim world. As well as world-class professionals in programming, blockchain technology and finance.