Strategic Hub for Innovation in Blockchain
Crypto Overview
Purpose and Utility
SHIB was created in August 2020 as an Ethereum-based token that started as a meme cryptocurrency but has evolved to attempt building a decentralized ecosystem. The project now includes ShibaSwap (a decentralized exchange), NFT projects, and a planned layer-2 blockchain called Shibarium.
Business Model Analysis
The ecosystem primarily generates value through trading fees on ShibaSwap, NFT sales, and planned metaverse integration. The core business activities do not inherently involve prohibited elements like interest-based lending or gambling.
Real-World Adoption
SHIB has achieved significant adoption as a payment method, with various merchants accepting it through payment processors like BitPay. The token is listed on major exchanges and has a large, active community.
Platform Development
The development team remains active, with regular updates and improvements. The launch of Shibarium beta in 2023 demonstrates ongoing technical development. The ecosystem continues to expand with new features and use cases.
Token Distribution
The initial token distribution included a significant portion being sent to Vitalik Buterin, who burned 40% and donated the remainder to charity. The remaining supply is distributed among holders, with no concerning concentration among founders.
Revenue Model
The primary revenue streams come from legitimate exchange of value through trading fees and NFT sales, which do not violate Islamic principles as they involve actual asset ownership and transfer.
Crypto Impact
To assign a comfort level investing in Strategic Hub for Innovation in Blockchain 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 Strategic Hub for Innovation in Blockchain.
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.