Sidra Chain is a digital platform that uses blockchain technology to make financial transactions in a way that follows Islamic finance rules.
☪️ What it is: Sidra Chain is a blockchain, which is like a digital record-keeping system. It's designed specifically for financial activities that comply with Shariah law (Islamic finance principles).
☪️ How it works: It allows people to send money and do other financial transactions directly with each other, without needing traditional banks as middlemen. This is meant to make things faster, cheaper, and more transparent.
☪️ Islamic finance rules: Islamic finance has rules against things like interest and investing in certain industries (like alcohol or gambling). Sidra Chain aims to provide ways to do finances that follow these rules.
KEY PARTS:
☪️ Sidra Chain Network: The underlying blockchain technology.
☪️ Sidra Coin: The digital money used within the system.
☪️ Sidra Bank: Digital banking services built on the Sidra Chain.
☪️ SidraClubs: An effort to expand Sidra Chain globally by working with local partners.
WHAT IT CAN BE USED FOR:
☪️ Making it easier and cheaper to send money internationally.
☪️ Tracking products to make sure they are halal (permissible under Islamic law).
☪️ Helping Islamic businesses raise money in a way that follows Shariah principles.
☪️ Current situation: Sidra Chain has a working blockchain, a mobile app, and a way for people to earn Sidra Coin. There's a community interested in it, but there are also some technical issues and a need for better information.
☪️ Potential: Sidra Chain is targeting a large market of people interested in Islamic finance. If it can fix its problems, it could be a successful platform.
In essence, Sidra Chain is trying to use new technology to offer financial services in a way that aligns with Islamic values.
https://www.sidrachain.com/u/asifnayab.1
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