Hypersign Identity
Crypto Overview
Project Overview
Hypersign Identity (HID) is a decentralized identity and access management protocol built on blockchain technology. The project aims to provide secure, self-sovereign digital identity solutions using blockchain technology. The HID token serves as the native utility token for the Hypersign ecosystem, used for governance and accessing various identity management services.
Purpose and Utility
The primary purpose of HID token is to facilitate the creation and management of decentralized identities, verifiable credentials, and authentication services. Token holders can participate in governance decisions and pay for services within the ecosystem.
Business Model Analysis
The business model focuses on providing identity management solutions that are transparent and decentralized. The project does not involve any prohibited activities such as interest-based lending or gambling. The core functionality revolves around identity verification and management services.
Development and Adoption
The project maintains active development on GitHub and has established partnerships with several organizations for implementing their identity solutions. While adoption is still in early stages, this does not affect its Sharia compliance status.
Token Distribution
The token distribution appears reasonably balanced between development, ecosystem growth, and community incentives. There are vesting schedules in place for team allocations, showing commitment to long-term development.
Crypto Impact
To assign a comfort level investing in Hypersign Identity 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 Hypersign Identity.
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.