Hada DBank - Banking. As it should be...
This is an interesting ICO to me because my twitter account is bitcoinbank and they are using an Islamic banking concept to work with the needs of the liberal and democratic individuals. There were 1.8 billion Muslims in the world as of 2015 – roughly 24% of the global population – according to a Pew Research Center estimate. So, if you can reach a quarter of the World population, you are in business. I am not sure if you are familiar with Ferengi, but as Ferengi say in the rule of acquisition 57 "Good customers are as rare as latinum. Treasure them."
http://memory-beta.wikia.com/wiki/Ferengi_Rules_of_Acquisition
Rule number 194 states that "It's always good business to know about new customers before they walk in your door."
The team knows all about the aforementioned customers, which makes up a quarter of the World population, and they intend to run a successful business with them, hoping to increase their token's value. This will bring good fortune and more money to any investors. As you may already know, Islam prohibits interest. According to Institute of Islamic Banking and Insurance, Riba is best translated today as the charging of any interest, meaning money earned on the lending out of money itself. The prohibition on paying or receiving fixed interest is based on the Islamic tenet that money is only a medium of exchange, a way of defining the value of a thing; it has no value in itself, and therefore should not be allowed to give rise to more money, via fixed interest payments, simply by being put in a bank or lent to someone else. The human effort, initiative, and risk involved in a productive venture are more important than the money used to finance it. Some people on reddit reported that Muslim clerics declared that owning bitcoin was compatible with Islam. A Kuwaiti is just opening another $100 million dollar bitcoin fund as a result. The new flood of money coming in will dwarf all previous inflows. Source http://archive.fo/kkV6m
Kuwaiti opening new fund:
In the ANN thread of the ICO, it is stated that Islamic Banks are less risky and more resilient than their counterparts, due to the aspects of their bank capital requirements and mobilization of deposits. This is true as there is a chance for both profit and loss and Islamic banks have to be backed by real world assets. For example, HADACoin and your savings are backed by valuable assets such as Precious Metals and they are insured according to Islamic Banking Principles for your peace of mind. A recent ICO by trade.io had a similar idea, and they declared that they would share both profit and loss with their investors, namely the token holders in their liquidity pool.
People using this system will be able to do their daily activities and banking easily. The system has a debit card to be used for daily activities. As there will be no interest to pay, the debit card is expected to be popular.
They have 500 million coins for the ICO and they will come up with more than 200 million coins. Some more features include:Free Encrypted Account & e-Wallet with
- Smartphone – Banking App
- Non-smart Mobile phone – SMS / USSD Code
Saving & Withdrawal
- Minimum 5% Savings Return per annum
- No withdrawal fee
Transfer, Remittance & Exchange
- Free Transfer / Remittance of funds (FIAT & Cryptocurrency) between personal savings accounts and e-wallets
- 0% fee on exchange transactions via HADA Exchange (between cryptocurrencies). No charges on major FIAT currencies during FIAT <> Crypto exchanges.
- Connect with partners or open APIs for better rate for other currencies
Loan & Investment
- 0% Loan Interest
- 10% minimum investment return
*Real-Time Payment
Real-Time Payment using HADACoin and other Cryptocurrencies / Tokens through our Debit Card
BOT HADA - Financial Management Bot / Personal Financial Assistant (HUDA)
- Manages everyday expenses within the limits set by you or via the balance of your account. Notifies & automates payments and bills through a prioritised schedule. Assisted planning for Long term & Short Term financial goals.
Cashback & Discounts
- Cashback & Discounts are rewarded when using Hada’s physical and/or virtual Debit Cards (1st year of signing/opening of account)
- Additional Cashback & Discounts when paying using HADACoin, indefinitely.
- Additional Discounts from Partners & Affiliates
- A big advantage of this banking is that it is on the blockchain, which makes it immutable and everything will be on a public ledger, which is bulletproof in terms of being unhackable. Blockchain technology is transparent, it has reduced transaction costs, it has faster transaction settlements, it is a user-controlled network, and of course, the biggest advantage is that it is DECENTRALIZED. This means that it cannot be controlled by any central authority. Instead of running a massive data center and verifying transactions through that hub, blockchain actually allows individual transactions to have their own proof of validity and the authorization to enforce those constraints. With information on a particular blockchain piecemealed throughout the world on individual servers, it ensures that if this information fell into unwanted hands (e.g., a cyber-criminal), only a small amount of data, and not the entire network, would be compromised.
Here are some links related to HadaBank:
WWW.HADA-DBANK.COM
https://bitcointalk.org/index.php?topic=2607739.0
https://www.facebook.com/hadadbank.official/
https://twitter.com/HadaDBank
https://www.instagram.com/hadadbank/
https://medium.com/@hadadbank
https://t.me/HADADBank
My bitcointalk link: https://bitcointalk.org/index.php?action=profile;u=1114493
My bitcointalk: ridertiger