Islamic Coin is gaining momentum and is already conducting an active PR company. Another interview with Mohammed Alqaff Alhashimi, co-founder and member of the executive board of the HAQQ Association and Andrey Kuznetsov, technical director of the project was held on the White Crypto channel. Islamic Coin is the internal currency of the Haqq blockchain network, fully compliant with Shariah Law and designed to organize the work of large digital financial ecosystems. 10% of the total amount of coins are automatically donated to charity.
How did you get involved in the crypto industry, did you have any investment experience, what inspired you to join the IslamicCoin project?
“I started my investment journey and entrepreneurial journey with investments in artificial intelligence projects, and then founded a company that specializes in these technologies. Now she works in more than 37 countries. I also worked in venture capital companies, where I invested in various startups. I have always been interested in doing something related to fintech, and for a long time I have been looking for reliable partners and co-founders who would share my views and principles of work. This does not mean that we should have been focused solely on raising money. I have always strived to benefit people, and when I met people involved in the development of IslamicCoin, I realized that there was my chance to enter the world of fintech and start creating a great project.” – Mohammed Alqaff Alhashimi.
«I have never considered myself an investor, I have always been an engineer looking for solutions to real problems. When Bitcoin appeared, it turned out that it was something more than just another beautiful idea. The people involved in the creation of the crypto space are in some way artists», – Andrey Kuznetsov
What can you say about the current situation in the global economy, should we expect a great depression, is there a chance to avoid it?
“I like the “great depression” expression, although it causes the audience some concern. When we look at the economy as a whole, we see that it has always experienced ups and downs, there have always been waves of depression. But someone used it as a cause for concern, and someone sought to achieve great success. This also happened during the COVID-19 pandemic. Many countries found themselves in a difficult situation and felt the economic downturn, while other countries used every opportunity for growth. Yes, I agree, the economy is going through difficult times now, but if we know how to speak the language of the market, we will not just be people who react to its actions, but we will be people who perform some actions and use them to gain advantages,” – Mohammed Alqaff Alhashimi.
How do you see the future of crypto industry?
“When we use the Internet, we don’t think about how it works. It just works and that’s it. The same thing will happen to the crypto industry. We stop thinking about cryptocurrency as something that needs to be understood. We will just live our lives, and cryptocurrencies will become so natural that the user will not think about using them. As an engineer, I see the mission of IslamicCoin in transforming technology into a form when ordinary people will not think about it at all,” – Andrey Kuznetsov
“I think blockchain and cryptocurrencies have a good future. We see that most users are still not familiar with the blockchain. And this gives us excellent opportunities for development. From my point of view, cryptocurrencies will replace cash and fiat transactions in the next few years, and blockchain will become the future of the financial world”, – Mohammed Alqaff Alhashimi.
IslamicCoin is the first cryptocurrency that complies with Sharia law, and more than 2 billion Muslims can use it. How could you tell about the goals of the project to a wide audience?
“The Islamic financial system does not encourage interest, but at the same time it pays great attention to documenting and logging all transactions, focuses on transparency and reliability, strives to become the best financial instrument. Blockchain copes with such tasks perfectly, but it lacks what could be called “compliance with Sharia Law”. When we look at financial institutions, we have an Islamic financial model, we have Islamic banks, Islamic insurance and Islamic funds. But when we look at the blockchain, we see a huge gap that the Islamic financial model can fill. That’s why our mission is to provide the community with the first fintech tool that allows them to make seamless transactions and interact with each other, supporting innovation and philanthropy. And blockchain is the best way to do this. Taking into account the huge Muslim communities, we are talking about two billion people. Of course, there is a great potential for our project to meet their needs and interest them, to achieve great success. We are not saying that the entire community will come to us, but we are saying that at least three to five percent of the users involved in the project will be enough for a good start. We are happy to serve the community with fintech tools that allow them to perform their Sharia-compliant transactions and do so in the simplest and most understandable way. It is important for us not just to show what we are, but to achieve success and recognition, no matter how long it takes – a year, two or even 10 years”, – Mohammed Alqaff Alhashimi.
“I want to add that one of the reasons why we sell IslamicCoin privately and do not seek to conduct an ICO is that we wanted our project to be funded for many years so that we could not just build an ethical blockchain, but also the business behind it would be in being able to do something useful from an ethical point of view, without making mistakes of other projects that issue tokens only to manipulate them on the market for a short time”, – Andrey Kuznetsov.
Could you tell us about the global vision of the project; what do you want to achieve with IslamicCoin in 5-10 years?
“Since we are talking globaly, I would like to emphasize that the Islamic financial school, or, say, Sharia-compliant finance, is open to all people from anywhere in the world, from any country, any skin color, any religion. This is not something exclusive for Muslims, it is a platform that is used by many people from many countries. If you go to an Islamic bank, you can open a bank account without being a Muslim. I can say that IslamicCoin will be present in many countries of the world in the next five to ten years, it will be a coin with which you can pay for purchases, make Muslim donations, give coins to charity for other people from different countries and other religions. IslamicCoin has a huge scope of application. Yes, we call ourselves a halal cryptocurrency, we are the only halal blockchain platform. This is really very important and will attract people who want to expand their capabilities with the help of blockchain”, – Mohammed Alqaff Alhashimi.
IslamicCoin project raised more than $ 200 million during a private token sale and became the owner of a prestigious award in the field of digital finance – the Gulf Excellence Award. The project has a Fatwa, and the leaders of the Islamic financial market are taking part in the work on it.