ICB Network
Crypto Overview
Project Overview
ICB Network (ICBX) aims to create a decentralized cryptocurrency network focusing on Islamic principles with built-in Shariah compliance features. The project intends to serve as a platform for halal financial services and transactions.
Purpose and Utility
The stated purpose is to facilitate Shariah-compliant transactions and serve as a medium of exchange within the Islamic finance ecosystem. However, due to the early stage of the project, current usage appears to be primarily limited to trading.
Business Model Assessment
The project's whitepaper and documentation emphasize building a halal ecosystem for financial services. No evident mechanisms were found that would violate Islamic principles such as riba or gambling.
Development and Adoption
The project appears to be in its early stages with limited adoption. While development activity exists, the ecosystem is still emerging.
Token Distribution
Information about token distribution and vesting schedules is limited in publicly available sources. This lack of transparency is noted but does not automatically indicate any Shariah compliance issues.
Technology and Revenue Model
The basic token transfer and trading mechanisms do not involve interest-bearing components or gambling elements. The project's infrastructure appears to be designed with consideration for Islamic finance principles.
Crypto Impact
To assign a comfort level investing in ICB Network 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 ICB Network.
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.