ABBC Coin
Crypto Overview
Purpose and Utility
ABBC Coin was launched in 2018 as a payment-focused cryptocurrency aiming to facilitate e-commerce transactions and cross-border payments. The project originally claimed to use facial recognition technology for payments but has since pivoted to focus on general payment solutions and DeFi services.
Business Model Analysis
The current business model focuses on providing a payment infrastructure and includes some DeFi features. While the base payment functionality aligns with halal principles, some of their DeFi services include interest-bearing products which raise concerns from a Sharia perspective.
Real-World Adoption
The cryptocurrency has limited real-world adoption for its intended payment use case. Most of the current trading volume appears to be speculative rather than utility-based, though this alone is not a concern for Sharia compliance.
Platform Development
Development activity appears minimal based on public GitHub repositories. The project has made several pivots since its launch, moving away from its original facial recognition focus to more general payment and DeFi services.
Token Distribution
Token distribution information is not clearly documented in recent sources, raising transparency concerns. The project has undergone several changes in its tokenomics structure since launch.
Crypto Impact
To assign a comfort level investing in ABBC Coin from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to ABBC Coin.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.