Haqq Network: A Paradigm Shift for Ethical Web3 - TOKEN2049 Singapore 2023
Discover how Haqq Network is reshaping the landscape of ethical Web3 with a focus on Sharia-compliant finance in this insightful talk from TOKEN2049 Singapore 2023. Presented by Alex Malkov, representing Islamic Coin, the session delves into the pressing challenges and innovative solutions offered by Haqq Network for engaging the untapped Muslim community within the crypto space.
As Web3 developments continue to flourish, obstacles like Ethereum's high fees and limited inclusivity remain. Haqq Network addresses these issues by providing a decentralized platform aimed at embracing a broader audience, in particular, the 1 billion Muslims with limited access to crypto due to non-compliance with Sharia law. This breakthrough approach not only opens doors to the rapidly growing Islamic finance sector, projected to reach $4 trillion by 2024, but also redefines engagement with decentralized finance (DeFi), fostering ethical and Sharia-compliant financial practices.
The introduction of the Sharia Oracle is a major highlight, offering a streamlined, on-chain registry of Sharia compliance certifications. This system provides assurance for users and developers, supporting the implementation and use of ethical applications on a permissionless blockchain without ethical compromise. Furthermore, Haqq Network's collaboration with centralized exchanges and innovative wallet integration highlights their commitment to transforming the crypto landscape.
By encouraging new frameworks for blockchain applications, Haqq Network is not only ensuring ethical rigor but also paving the way for a sustainable and inclusive future in digital finance.
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