AudioCoin
Crypto Overview
Project Overview
AudioCoin (ADC) was created as a cryptocurrency meant to serve the music industry, particularly designed to facilitate transactions between artists, fans, and music industry stakeholders. The project aimed to create a dedicated digital currency for music-related transactions and rewards.
Intended Utility
The stated purpose of AudioCoin was to enable music-related transactions, artist support, and fan engagement within the music ecosystem. It was designed to be integrated with music streaming platforms and allow for direct artist compensation.
Current Status
Based on the most recent available information, AudioCoin appears to be inactive. The project's development has been stagnant, with no significant updates or active development visible in recent years. The official communication channels are largely inactive, and there is minimal to no current trading volume or meaningful adoption.
Business Model Analysis
The original business model was halal-compliant, as it involved direct exchange of value between parties (fans and artists) and facilitated legitimate commerce in the music industry. The model did not involve any inherently prohibited activities like riba or gambling.
Technical Implementation
AudioCoin was implemented as a cryptocurrency token, allowing for direct ownership and transfer of digital assets. The technical implementation itself did not involve any mechanisms that would be considered haram.
Crypto Impact
To assign a comfort level investing in AudioCoin 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 AudioCoin.
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.