Blockster
Crypto Overview
Purpose and Utility
Blockster (BXR) is a utility token that powers the Blockster social media platform, which aims to be a specialized social network for the cryptocurrency and blockchain community. The BXR token is used for advertising payments, premium features, and platform governance.
Business Model Assessment
The platform's business model appears to focus on providing a legitimate service for the crypto community, including news, networking, and marketing capabilities. The core activities involve digital advertising, content creation, and community building - all of which align with halal business practices.
Development and Adoption
The Blockster platform launched its beta version and continues development. While adoption remains limited, this is not a concern from a Sharia compliance perspective. The development team maintains regular updates to the platform.
Token Distribution and Governance
The token has a clear distribution model with allocated portions for development, marketing, and community growth. While detailed vesting information is limited, this alone does not impact Sharia compliance as long as the underlying utility is legitimate.
Technology and Revenue Model
The platform's revenue model is primarily based on advertising and premium features, which are permissible activities under Islamic finance principles. The token does not involve interest-bearing mechanisms or gambling features.
Crypto Impact
To assign a comfort level investing in Blockster 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 Blockster.
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.