iHalalCoin (iHC) is an international collaboration of socially conscious community members. We want to build a civic ecosystem that benefits the whole society. It would be a system that creates a balance between economic growth and the welfare of society and the environment.
This is possible with blockchain, a decentralized technology spread across many computers that manage and records transactions. It is appealing because it is secure with strong cryptography. This is a transformational technology that is able to hold the programmable economy together, acting as the bridge between the digital and the real world. This is achieved using smart contracts.
A smart contract is a computer program or a transaction protocol that is intended to automatically execute, control, or document legally relevant events and actions according to the terms of a contract or an agreement. The objectives of smart contracts are the reduction of need in trusted intermediates, arbitrations, and enforcement costs, fraud losses, as well as the reduction of malicious and accidental exceptions.
It allows connecting buyers and sellers directly, reducing the cost and delays from relying on intermediaries to verify traditional contracts. All of this is done autonomously. A smart contract behaves as an automated lawyer or middleman that mediates a transaction between two entities. It is software protocols that help people exchange money, property, or any other item of value.
Currently, there are more than 10,000 different cryptos created using smart contracts that are worth USD2.6+ trillion and traded publicly with each a different use case. Crypto is a digital asset that utilizes computer code and blockchain technology for transactions such as buying and selling goods and services, as a store of value, as ecosystem tokens, and many other purposes.
iHC is unique, it is the world’s first halal coin to power halal payment with its own ecosystem The motivation is to develop a trustable, transparent, secure, and future-proof halal ecosystem. Currently, the major problems faced by the halal industry no halal payment system, lack of halal awareness, slow fintech adoption, no standardization and lack of internationalization. iHalalCoin.org is addressing all the major problems. It had created an ethical revolution in the crypto space using our halal coin to integrate all halal markets worldwide with charity as the core motivation.