SMART
Crypto Overview
Overview
SmartCash (SMART) is a community-driven cryptocurrency launched in 2017, designed to be a peer-to-peer digital currency focusing on fast transactions, decentralized governance, and community funding.
Purpose and Utility
The primary intended use of SMART is as a medium of exchange and payment system. The project implements a unique governance system where 70% of block rewards are allocated to a community treasury (SmartHive), enabling token holders to propose and vote on development initiatives.
Business Model Analysis
The project's business model centers around providing a decentralized payment solution with community governance. The platform does not involve interest-bearing products, lending, or any explicitly haram activities. SmartCash operates on a Proof-of-Work consensus mechanism, which is permissible from an Islamic finance perspective.
Real-World Adoption
While SmartCash has seen limited merchant adoption, it continues to function as intended for payments and value transfer. The project maintains active development and community engagement through its SmartHive initiative.
Platform Development
The project maintains basic development activity, though at a reduced pace compared to its early years. The core features of the network remain functional, including its payment system and governance mechanism.
Token Distribution
SmartCash implemented a fair launch with no pre-mine or ICO. Block rewards are distributed with 70% going to SmartHive Treasury, 15% to miners, and 15% to node operators. This distribution model shows a focus on community development rather than founder enrichment.
Crypto Impact
To assign a comfort level investing in SMART 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 SMART.
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.