PAC Project
Crypto Overview
Overview
PAC Project (formerly PACcoin) is a digital currency that underwent a rebranding and technological upgrade in 2018. It operates on a Proof of Stake v3 consensus mechanism.
Purpose and Utility
The stated purpose of PAC is to serve as a fast, secure digital payment system with a focus on merchant adoption and financial inclusion. The project aims to provide a decentralized payment solution with low transaction fees.
Business Model Evaluation
The project's business model centers around facilitating digital payments and creating a merchant ecosystem. There are no apparent elements that would violate Islamic principles in its core functionality.
Real-World Adoption
Current adoption appears limited, with modest transaction volumes. The project has faced challenges in achieving widespread merchant adoption as originally envisioned.
Development Activity
Development activity has been sporadic, with periods of active development followed by quieter periods. The project maintains basic functionality but hasn't demonstrated significant recent technological advances.
Token Distribution
The token distribution appears relatively decentralized following its 2018 relaunch, though exact figures of founder holdings are not readily available in recent data.
Revenue Model
The project generates no direct revenue through interest or prohibited activities. Transaction fees are used to reward network validators through Proof of Stake, which is permissible from an Islamic finance perspective.
Crypto Impact
To assign a comfort level investing in PAC Project 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 PAC Project.
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.