peaq
Crypto Overview
Purpose and Utility
peaq is a blockchain network designed specifically for the Economy of Things (EoT), enabling developers and businesses to build decentralized applications for vehicles, robots, and machines. The PEAQ token serves as the native currency of the network, used for governance, staking, and facilitating transactions within the ecosystem.
Business Model
The platform focuses on creating infrastructure for machine-to-machine (M2M) communication and transactions, with real-world applications in autonomous vehicles, charging stations, and industrial IoT. The business model appears to align with halal principles as it facilitates legitimate trade and technological advancement without involving prohibited activities.
Real-World Adoption
peaq has established partnerships with notable companies in the automotive and IoT sectors. The network is being utilized for various practical applications, including electric vehicle charging management and autonomous vehicle coordination.
Platform Development
The project maintains active development on GitHub, with regular updates and improvements to the protocol. The team consistently releases technical documentation and updates about network developments.
Token Distribution
Initial token distribution included allocations for the team, early investors, and ecosystem development, with appropriate vesting periods in place. The distribution structure appears designed for long-term project sustainability rather than quick profit-taking.
Technology Assessment
The underlying technology focuses on facilitating machine economy transactions and does not involve interest-based lending or gambling mechanisms. The revenue model is based on network usage and transaction fees, which aligns with Islamic principles.
Crypto Impact
To assign a comfort level investing in peaq 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 peaq.
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.