Kobocoin
Crypto Overview
Overview
Kobocoin was launched in 2014 as a digital currency aiming to facilitate financial transactions in Nigeria and across Africa. The project was created to provide a decentralized payment solution for the unbanked population in African countries.
Utility Assessment
The intended purpose of Kobocoin is to serve as a medium of exchange and payment system. However, current research indicates extremely limited recent activity or development. The project's official channels and development repositories show minimal to no updates in recent years.
Business Model
The business model was originally focused on providing a payment solution, which aligns with halal principles as it involves the exchange of real value. The project did not involve any inherently haram activities like interest-based lending or gambling.
Real-World Adoption
Current data shows virtually no measurable adoption or active usage. Trading volumes are minimal, and there is little evidence of the token being used for its intended payment purposes.
Development Activity
Development appears to have stalled, with no significant updates or improvements to the platform in recent years. The project's GitHub repository shows no recent commits.
Token Distribution
Information about token distribution and founder holdings is not readily available, making it difficult to assess the concentration of ownership.
Crypto Impact
To assign a comfort level investing in Kobocoin 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 Kobocoin.
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.