BlitzPick
Crypto Overview
Project Overview
BlitzPick (XBP) is a cryptocurrency project aiming to function as a decentralized sports gaming and wagering platform. The platform allows users to place bets on various sports events using the XBP token.
Intended and Actual Use
The primary purpose of XBP is to facilitate sports betting and gambling activities within their ecosystem. This is both the intended and actual use of the token. The platform enables users to participate in sports betting using XBP as the primary currency.
Business Model Analysis
The core business model revolves around gambling and betting activities, which are explicitly prohibited in Islamic finance. The platform's fundamental purpose is to enable and facilitate betting, which constitutes maysir (gambling).
Platform Development and Adoption
While the platform shows signs of active development and community engagement, the primary focus remains on sports betting functionalities. The development efforts are directed towards improving and expanding gambling-related features.
Token Distribution and Governance
The project maintains transparency regarding token distribution and operations. However, the underlying utility and purpose of the token remain fundamentally tied to gambling activities.
Crypto Impact
To assign a comfort level investing in BlitzPick 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 BlitzPick.
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.