HAQQ Network Co-founder: Blockchain can ensure that Islamic financial activities comply with Sharia regulations

2025-01-13 09:59:14

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ChainCatcher news, according to Cointelegraph, HAQQ Network co-founder Mohemed AlKaff AlHashmi stated that blockchain systems, with their high transparency, traceability, and community governance structure, are the best way to ensure that financial activities comply with Sharia law.

He explained that financial activities such as lending, interest, and gambling are considered "haram" (forbidden) in Islam, while blockchain can verify whether transactions come from "halal" (permissible) sources.

Additionally, the global Muslim population is about 2 billion, and many lack Sharia-compliant financial solutions. The Sharia financial market is expected to double in the next five years, currently valued at approximately $4 trillion. There are currently several Sharia-compliant cryptocurrency projects and platforms, such as HAQQ Network, Marhaba Network, and Bybit's Crypto Islamic account.

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