Creditcoin
Crypto Overview
Purpose and Utility
Creditcoin is a blockchain platform designed to facilitate cross-border lending and credit history building. The project aims to create a decentralized credit infrastructure that allows recording of loan obligations and credit histories on the blockchain.
Business Model Analysis
The platform's core functionality revolves around recording lending activities and credit histories. While lending for profit would typically be considered non-compliant with Shariah principles, Creditcoin itself does not engage in lending - it merely provides the technological infrastructure for recording these transactions. The platform can be used for both commercial lending and charitable lending (Qard Hasan).
Real-World Adoption
The project has established partnerships with various organizations, particularly in emerging markets. However, current on-chain data shows limited adoption of the platform for its intended purpose. The token is primarily used for network security through staking and as a means of payment for transaction fees.
Development Activity
The project maintains active development with regular updates to its codebase. The team continues to work on improving the platform's infrastructure and expanding its capabilities.
Token Distribution and Governance
The token distribution includes allocations for development, ecosystem growth, and community incentives. The project implements a proof-of-stake consensus mechanism where CTC tokens are used for network security.
Crypto Impact
To assign a comfort level investing in Creditcoin 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 Creditcoin.
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.