Islamic Coin: Harnessing the Potentials in Islamic Finance - TOKEN2049 Singapore 2023

good happy morning everybody I hope you're all doing great I'm happy to see you all here at this amazing event where we see Tech developers investors companies businessmen Community everybody who cares about web3 and technology is coming all to one place and I'm sure that you're all aware when you want to do any project or start any business there is something called feasibility study there you go and you do it and you make all the elements about the project and the calculations and many other important verticals but my question here have you seen any feasibility study that really have a part that talks about risk of the project on the community on the society how it will impact the environment usually when you see visibility study we see just how we make money what are the cost expenses profit loss there is nothing there about the community about how we will impact the environment and then when you look at the all Financial schools that are exist now also you will not find some a particular Financial school that really cares and puts the community first before the profit and loss and the financial calculation but in fact there is a One Financial school that cares about this that never accept any project that have risk on the community environment or any human being or any anything on this Earth this financial School exists since more than 1 400 years and it talks always about how to balance any Financial deal how to take care about the environment and Humanity how to put first that there is no negative reflection of any project on the earth and the people and anyone who lives on this Earth and then this financial school also it highly follow the transparency it highly recommend eliminating mediators it highly cares about ethics and value that's why it's a successful Financial school that we never seen a single part of it that filed a bankruptcy since it started since long time this financial school is called the Islamic Financial school or the Sharia Financial school now many people will ask do we really need something called Sharia Financial school or Islamic Finance is it really needed we have all great other Financial schools let me tell you some little figures so you know how much needed is this first of all the community who's really following the Sharia Financial school there are more than 1.9 billions from Muslims and from non-muslims it is not exclusive for Muslims only and then on the other hand the market cap for this is for the is Sharia Finance is expected to be 3.69 trillion by end of this year the Islamic products and Halal products the market cap is 4 trillion total we're talking about seven trillion dollars we're talking about a community which is beyond 1.9 billion we're talking about this community is really still underserved because most of the Financial Solutions that are exist at the moment it needs physical presence and then you need to open branches you need to have people present physically and this eliminate the availability for all the people it's not easy to reach them you will find 51 percent and more of the people who follows the Sharia are Finance they are unbanked check these rates and numbers in most of the countries but there is a reason why they are ambanked because at the past this the technologies that were at hand still underserving and still not really capable to serve and match all the verticals of these schools and it is ethics and values now we have the blockchain we have the crypto we have the web 3 and this is the best matching technology to serve this community now if we don't use this tool at this time at this era we are living to serve the community best and to serve these ethics and values we have a big responsibility and that will and that will be really a big failure if we are not using it that's why we thought to start our project and we have built the first ethics blockchain called hack chain and on top of it we have put the Islamic coin as a native coin of hot chain so the project has many components so when we talk about the technology um the blockchain itself it's proof of stake it's very eco-friendly and how to make it Islamic we have a Sharia board and the Sharia board like most of the professional financial institutions they have their own Sharia board and if even the non-islamic banks when you look at many banks like Standard Chartered and others they will have their own Sharia compliant products and they will have their own Sharia board our Sharia aboard is sitting in more than 50 Banks Sharia board they're one of the steamed in the in the market now and they are the one who issue the certificate and fat one make sure that we are a Sharia compliant so we have the technology part we have the Sharia part we have also the philanthropy part because we feel there is a responsibility to give back to the community and to serve the community that's why we have done it in a way where 10 percent of every minted coin goes to Evergreen Dao and every will serve the community and give granted their projects and give grants to the Charities and support the humanity all over the world so we talk about technology we talk about the Sharia we talk about the uh uh philanthropy part in the Evergreen Dao now what's more needed when we build up web3 project or when we start introducing blockchain or crypto is this enough to capture the Community Trust well still not enough we need people from the professional financial institutions to be with us and to recognize the project that's why you can see in our executive board the first Islamic Banker in the world Mr Hassan miza his co-founder for Dubai Islamic Bank with uh Lota since long time it's the first Islamic Bank in the world you see hamis buharun who was he is the exeo of Abu Dhabi Islamic Bank you see Peter Rafferty who was serving in Abu Dhabi investment Authority for more than 22 years it is a fund of more than 600 billion dollars in The Advisory Board you will see the Royal highnesses from Abu Dhabi Dubai and soon from other countries joining the project this is enough components to give trust to the community that this is a real project and people will not gamble with their name in something fake but let's look at the other side let's look at the calculations and financials and numbers we started the project with a private sales we didn't do Ico IPO ieo we don't want to collect at the early stage of the project so we don't want to collect money from the community that's why we went for Private Sales we targeted funds Venture capitals and individuals who knows where they invest their money and how to do the due diligence in a smart way and Private Sales ended up with more than 400 million dollars in this beer market and also on the other side we have done a lot of Partnerships with a lot of steamed entities in the world fambras is the world's largest Halal certificate or entity we signed the agreement with them DD cab is also our partner they are serving more than 300 Banks all over the world and holiday swab is one of the biggest tourism uh companies in the world and then I want to announce something very important today that also we have signed and this is the first time we we talk about it we have signed a partnership with coin desk indexes and this is a very interesting and promising and we are focusing there on many Sharia compliant products including atfs and more others we have also sign interesting partnership with the Republic crypto all of you are in the web 3 know them very well I don't need to tell you who they are but this is also uh part of the success stories and this is also part of the science that makes us very uh confident that the project is moving in the right way and it will catch very good achievement and on the other hand let's talk about utilities because a lot of people asking this you build something great you're doing something good good technology Sharia and everything but what people will use it for why people will buy or will get Islamic coin while they will get to hack chain what are the utilities for the people who follow Sharia are Finance ethics and values when you look at all what is happening in the decentralized in the centralized World in all Islamic Banks Islamic funds Islamic Finance all the project products they are providing we look at the lifestyle we are not providing just a One Financial Pro product when you look at the Sharia it is a lifestyle way for everyone it takes care about financial side about social side about um environment about education and many other sites so we are moving this lifestyle that's happening in the centralized world to the decentralized world if we look from Sharia Finance point of view there are many products for exchanging loans or getting into partnership like Madara many products it will be happening in our blockchain which is the best matching tool because smart contracts is one of the best tool to serve this this all can be converted into smart contracts even inheritance when somebody pass away I hope we all will will have a long life but we see a lot of problem and cases at the court and there is a very clear formula in Sharia Finance for inheritance we deploy this in a smart contract and once the death certificate uploaded to the smart contract it will be Auto distributed look at the zakat fund which a must donation and for people who don't know zakat zakat is a must donation in Sharia Finance it's 2.5 percent of any resource that you own and you're not using it for more than 12 months then there is a social responsibility on you to give to the poor people 2.

5 percent and how it is happening now it is happening through some of the zakat funds but what they come back to the donators they come back with Excel sheet and we cannot verify whatever happening whether the people really receive they don't receive you don't know but when you do this over the blockchain when you use the uh wallets and you connect that with a digital identity then you can really have a full transparency on what is happening but more than this let me tell you something when you do any project and you want to measure the success factors you always look what I am providing to the community is it a good good to have or must to have if it is good to have you spend more effort to convince people what we are doing for all people who believes in Sharia finance and ethics and values it's a must to have and blockchain and Technology it's serving this the best way so if I'm providing to the community with more than 1.9 billion the best technology in most easier way in more reliable way and in a very efficient way and it is a must to have for them of course they will adopt it and they will use it that's why we see today downloads of our hack wallet exceeded 1.5 million downloads and still we didn't list the coin on exchanges you see the people following the project more than in all social media more than 1.7 million and still we are not listed on the exchanges so there is a huge adoption when it comes to this there is a huge value aside of the financial part we are also building a lot and having a lot of products not only from us but it's also coming from the community and that's what we want and that's what we encourage that these products it's also taking care about different sides of uh Sharia ethics and values we are building something called hacked social which a clean social media that keeps our eyes clean and keep our families in the right path to look at the good things and not just watch something that pop up from here and there that doesn't go with people who cares about ethics and values we are also building ethical gaming we are also focusing on education and we built the hack Academy for anyone who want to study and learn what is blockchain because we have to admit still the awareness about web3 it at its very lowest stage when we look at the all people in this planet majority of people they don't really know about it so that's why we felt the academy people can learn blockchain can learn crypto can learn web free can learn Sharia finance and it is for free we have done a partnership with the International Islamic University in Malaysia and this has rarely happen in crypto projects with a blockchain and cryptocurrency and all the people who will go through this Academy they will get a certificate authorized and stemmed from the International Islamic University and another esteemed institutions so this is also part to spread the awareness and this awareness not only for our project when we spread awareness about blockchain and web3 it is for the whole ecosystem and how to enrich it we also encourage all the tech developers we are doing hackathon soon in Dubai so and we have done one in Turkey hopefully one day we'll do one also here in this amazing country and we are encouraging the tech developers to participate in it to come up with amazing results in reaching the ecosystem and we are also um from the last hackathon I saw many products that are really amazing that has been built in a very short time and some of the products built around to cook and to cook is the Sharia compliant bonds if you don't have idea about it and it is a very huge market cap in Dubai itself it is more than 70 billions market cap so I will not make it long what we are building it's all about ethics first values Community environment it's for more than 1.9 billions Community for a market cap of the finance and Halal products of more than 7 billions and it's coming to the exchanges very soon so please feel free to interact to the project to put your ideas to join and apply and get grants from the Evergreen doll thank you very much for listening if anyone having any question I will be available after the speech thank you very much