XDB CHAIN
Crypto Overview
Purpose and Utility
XDB Chain (formerly DigitalBits) was designed as a protocol focused on becoming the blockchain for brands, originally aiming to support loyalty and rewards programs, branded stablecoins, and other brand-related digital assets. The project intended to provide fast transaction speeds and low costs for enterprise adoption.
Business Model
The business model revolves around providing blockchain infrastructure for brands and enterprises to tokenize assets and create digital experiences. This core concept aligns with halal principles as it involves the creation and exchange of digital assets with real utility.
Real-World Adoption
The project has faced significant challenges in recent years. Most previously announced partnerships, including those with AS Roma and Inter Milan, have been terminated. Current adoption and usage appear to be minimal, with very low transaction volumes on the network.
Platform Development
Development activity has significantly decreased since 2022. The project's GitHub repositories show limited recent updates, and the ecosystem appears to be largely inactive. The main website (digitalbits.io) is no longer accessible.
Token Distribution
The initial token distribution included allocations for the team, advisors, and early investors. However, detailed current distribution data is difficult to verify due to limited transparency and project activity.
Crypto Impact
To assign a comfort level investing in XDB CHAIN 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 XDB CHAIN.
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.