On 17 November 2023 ,Lbank held an AMA with the $ISLAMI Coin team in the Lbank official telegram group , those who had missed this session can see the recap of the AMA here and can read the transcript of the session again.
1. Can you introduce yourself first and about your project you are representing Today in the community ?
Answer : Hello everyone, I’m Jaafar Krayem Founder & CEO of ISLAMICOIN and iChain. Our project is at the forefront of integrating Islamic finance principles with the dynamic world of cryptocurrency. ISLAMICOIN is more than just a digital currency; it’s a revolutionary platform that combines ethical investing, innovative technologies, and a commitment to financial inclusivity. We’re dedicated to creating a harmonious balance between traditional values and modern financial practices, making ethical trading accessible to a global audience .
QUESTION / ANSWER SEGMENT
Q1. 1. What triggers you to launch Islamic coin?
GUEST ANSWER : The inception of ISLAMICOIN was driven by a clear need within the Muslim community and beyond for a cryptocurrency that not ony aligns with Islamic finance principles but also caters to anyone seeking Islamic values and evolving landscape of digital finance. By integrating innovative solutions like iGold, iQrad, ISLAMIwallet, and iChain, we’ve created a platform that upholds ethical standards while embracing modern technology. This initiative is more than just a financial tool; it’s a commitment to harmonizing ethical trading practices with the dynamic world of cryptocurrency, making it accessible and relevant to a diverse and global audience.
Q2. What are some of the real-world problems/pain points that Islamic coin aims to solve?
GUEST ANSWER : ISLAMICOIN is dedicated to addressing critical challenges in the digital finance arena by providing Sharia-compliant solutions. iGold stands out as a stable and ethical investment option, backed by physical gold, offering a tangible sense of security and value. ISLAMIwallet complements this by offering a secure and intuitive platform for managing digital assets with ease. iChain fortifies our ecosystem with its advanced permission system, ensuring secure and compliant transactions while effectively preventing malicious contract deployments, yet allowing unhindered user interactions. Additionally, we are introducing iQrad, a revolutionary 0% interest lending system that utilizes iGold as collateral. This system aligns with Islamic financial principles by offering interest-free loans, thereby providing a fair and ethical financial solution to our community.
Q3. How does iChain envision contributing to the broader adoption of Islamic finance through ISLAMICOIN, and what steps is the team taking to ensure regulatory compliance and cultural alignment within the Islamic finance ecosystem?
GUEST ANSWER : iChain, developed using Geth and QBFT, plays a pivotal role in ISLAMICOIN’s mission to expand the reach of Islamic finance. It ensures a secure and transparent environment for transactions, strictly adhering to Islamic financial principles. A key feature of iChain is its sophisticated permission system, which effectively prevents unauthorized contract deployments while facilitating seamless user transactions. This approach not only maintains a secure network but also fosters trust and compliance within the Islamic finance ecosystem. Additionally, our commitment to Sharia compliance is further strengthened by our Sharia office, “Crypto Halal.” This office diligently monitors all our projects and provides a comprehensive report every three months, ensuring continuous alignment with Islamic principles and offering transparency to our community.
Q4. What are the unique features that distinguish ISLAMICOIN from other projects?
GUEST ANSWER : ISLAMICOIN sets itself apart in the cryptocurrency landscape by blending innovative technologies with unique functionalities. The platform’s cornerstone, iGold offers a stable investment avenue backed by physical gold, appealing to those seeking the security of tangible assets in the digital finance world, iGold also serves the whole ecosystem being utilized as the collateral in iQrad Project. ISLAMIwallet elevates the user experience with its intuitive and secure interface for digital asset management. A standout feature of ISLAMIwallet is its token recovery option, which allows for the retrieval of locked tokens in cases of wallet loss or even posthumously, ensuring users’ assets are safeguarded under all circumstances when using the recovery feature. Additionally, iChain exemplifies our dedication to innovation and security, providing a robust and efficient transaction environment. Complementing these features is iQrad, our unique 0% interest lending system that utilizes iGold as collateral, offering an ethical and accessible financing solution. Together, these elements position ISLAMICOIN not just as a digital currency, but as a holistic ecosystem that reshapes the ethical and technological landscape of digital finance.
Q5. What is your vision for the project in the end? What does the project hope to achieve in the long term and how do you plan to achieve it?
GUEST ANSWER : Our vision for ISLAMICOIN is to solidify its position as a pivotal entity in the Islamic finance sector. This vision is supported by our innovative technologies like iGold, iQrad, iDex, ISLAMIwallet, and iChain. We are committed to developing an ecosystem that not only caters to the financial needs of the Muslim community but also champions ethical and responsible investing. Our ambition knows no bounds; we continually strive to expand and enhance our offerings. This journey is fueled by our passion and commitment to the project, a commitment that is rooted in love and dedication to our community. We plan to achieve this through relentless innovation, forging strategic partnerships, and upholding the highest standards of transparency and security, always aligned with Islamic values. Our goals are limitless, and our dedication to this project is unwavering, as we continue to explore new horizons and opportunities to serve our community better.
1. Do you have any plan for burning $ISLAMI tokens in the future to reduce the Supply 100,000,000,000 $ISLAMI coins. If you would like to supply of the token and increase its investment attractiveness? @Technical_122
Guest Answer : First of all the Total Supply of ISLAMI is now around 9.37 Billion token, we started with a Max Supply 20 Billion, and till now we burned more than 51% of them. The services we provide in ISLAMIwallet uses ISLAMI for fees (iGold, P2P, iQrad, Recovery Wallet), and we never take these fees we burn them right away in order to keep decreasing our total supply and give more value for the token accordingly.
2. Too many projects promise magic but never release any working product or prove any revenue, Within a short/long time of release. Is your project also like this? If not can u tell us, what makes your project different from projects ? @RM_007750
Guest Answer : We always work to keep our promises, and since we hold the ethics of Islam, our token had a real use since day one of trading, we are always delivering new project to our community and the world, and we always look to provide new solutions and technologies, that help us achieve a full ecosystem utilizing the use of ISLAMICOIn in all its fields
3. Have you being audited ? Have not heard you talk about that security of funds is what every investor craves for and plans to escape incase of insecurity if funds,scams and rug pulls ? How strongly built are your security put in place? @Carolin_crosby_1999
Guest Answer: Every time we develop a smart contract and introduce it as one of our service we make sure we audit our development in order to insure transparency and security in our work and for our community. Most of our contracts are audited by Solid Proof, and we have all this information shared on our website and Telegram group mainly.