BitcoinBlack
Crypto Overview
Project Overview
BitcoinBlack (CARD) appears to be a cryptocurrency project that claims to offer a luxury credit card service backed by cryptocurrency. The project aims to provide a bridge between traditional financial services and cryptocurrency through a physical card product.
Purpose and Utility
The stated purpose of BitcoinBlack is to serve as a utility token within their ecosystem, primarily focused on providing access to their credit card services and associated benefits. However, current research reveals extremely limited information about actual implementation or adoption of these services.
Business Model Analysis
The core business model involves card services, which in principle could be halal if properly structured without riba. However, there is insufficient public information available about the specific mechanisms of their credit card operations and how they avoid interest-based transactions.
Development and Adoption
There is minimal verifiable information about the current state of development or adoption. The project's official channels and documentation are sparse, making it difficult to assess the actual implementation of the stated utility.
Token Distribution and Governance
Information about token distribution, vesting schedules, and governance structure is not readily available in public sources. This lack of transparency, while concerning from an investment perspective, does not automatically make the project haram.
Crypto Impact
To assign a comfort level investing in BitcoinBlack 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 BitcoinBlack.
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.