Observer
Crypto Overview
Overview
Observer (OBSR) is a cryptocurrency project focused on privacy and data protection. The project aims to create a decentralized data marketplace where users can securely share and monetize their data while maintaining control over their privacy.
Intended Utility
The primary purpose of OBSR is to facilitate transactions within the Observer network, serving as both a utility token for data exchange and a governance token for protocol decisions. Token holders can participate in the data marketplace, stake tokens for network security, and vote on protocol upgrades.
Actual Usage and Development
Development activity appears relatively limited based on public GitHub repositories. The project has shown minimal progress in implementing its promised features, with few notable partnerships or significant user adoption metrics available.
Token Distribution and Founder Analysis
Information about token distribution is not readily transparent, raising concerns about centralization. There is limited public information about the founding team and their previous experience in blockchain development. The project's marketing efforts appear disproportionate compared to actual development progress.
Revenue Model and Operations
The project's revenue model relies on transaction fees from the data marketplace and staking rewards. While the basic exchange of data and tokens would be permissible under Islamic finance principles, the staking mechanism needs careful examination as it may involve elements of riba.
Crypto Impact
To assign a comfort level investing in Observer 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 Observer.
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.