ABBC Coin
Crypto Overview
Project Overview
ABBC Coin (formerly Alibabacoin) was launched in 2018 and positions itself as a payment-focused cryptocurrency aimed at e-commerce and retail transactions. The project claims to offer facial recognition payment systems and blockchain-based solutions for online shopping.
Intended Utility Analysis
The stated purpose is to serve as a payment solution incorporating facial recognition technology for secure transactions. However, current usage data shows minimal adoption of these features. The project has pivoted multiple times, originally leveraging the Alibaba name (leading to trademark disputes) and later rebranding.
Actual Utility Assessment
On-chain analysis reveals very low transaction volume for actual payments or e-commerce usage. The majority of token movement appears to be speculative trading on secondary markets. The promised facial recognition payment system has not seen meaningful implementation or adoption.
Founder and Token Analysis
The project has faced several controversies, including the Alibaba naming dispute and multiple sudden changes in direction. Token distribution data shows a concentrated holding pattern with significant portions controlled by the founding team. Marketing efforts have historically outweighed visible technological development.
Technical Implementation
While the project maintains some development activity, the technical implementation of its stated goals remains largely unrealized. The facial recognition payment system, which was a key selling point, has not materialized into a functional product with meaningful adoption.
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”.
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