TechFlow news, January 13 — According to Cointelegraph, Mohamed AlKaff AlHashmi, co-founder of the Haqq Network, said blockchain systems—with their high transparency, traceability, and community governance structures—are the best way to ensure financial activities comply with Sharia law. He explained that financial activities such as lending, interest, and gambling are considered "haram" (forbidden) in Islam, while blockchain can verify whether transactions originate from "halal" (permissible) sources.
Additionally, there are approximately 2 billion Muslims worldwide, many of whom lack Sharia-compliant financial solutions. The Sharia-compliant financial market is expected to double in value over the next five years, currently standing at around $4 trillion. Several Sharia-compliant cryptocurrency projects and platforms already exist, including Haqq Network, Marhaba Network, and Bybit's Crypto Islamic account.
