SmartCash
Crypto Overview
Overview
SmartCash is a peer-to-peer cryptocurrency launched in 2017, focused on providing fast, low-cost transactions and community governance. It uses a unique consensus mechanism called SmartRewards and features community-driven decision making through SmartHive.
Purpose and Utility
The primary intended use of SmartCash is as a medium of exchange and payment system. The project emphasizes merchant adoption and ease of use for everyday transactions. The SmartHive governance system allows token holders to participate in project decisions.
Business Model Analysis
The business model appears to align with halal principles as it primarily focuses on payment processing and community governance. There is no evidence of involvement in impermissible activities like interest-bearing products or gambling.
Real-World Adoption
Current usage appears limited, with relatively low transaction volumes. While the project maintains some merchant partnerships, actual adoption for payments remains modest. The primary current use case appears to be trading on cryptocurrency exchanges.
Platform Development
Development activity has significantly decreased in recent years, with limited updates to the core protocol. The last major development updates were observed in 2021.
Token Distribution
The initial distribution included allocations for development (15%), community projects (15%), and public mining (70%). There are no concerning lock-up arrangements or vesting schedules that would suggest a scheme to enrich founders.
Crypto Impact
To assign a comfort level investing in SmartCash 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 SmartCash.
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.