Spank
Crypto Overview
Purpose and Utility
SpankChain was developed as a payment solution and platform specifically for the adult entertainment industry. The SPANK token is designed to facilitate payments between adult content creators and consumers.
Business Model Analysis
The project's core business model revolves around adult entertainment content and services, which are considered haram activities in Islamic finance. The platform's primary use case is fundamentally tied to activities that are not permissible under Shariah law.
Real-World Adoption
The platform has seen limited adoption within its intended market. However, the adoption metrics are not relevant for our Shariah compliance analysis since the fundamental business model involves impermissible activities.
Platform Development
While the project has developed payment solutions and smart contracts, the technological achievements do not override the fundamental compliance issues with the nature of the business.
Token Distribution and Governance
The token distribution metrics and governance structure, while potentially relevant for investment analysis, are secondary to the primary Shariah compliance concerns regarding the business model.
Crypto Impact
To assign a comfort level investing in Spank 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 Spank.
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.