A proposal to Saudi Arabia for the possibility of developing a national digital currency called "HajjCoin", aimed at facilitating financial transactions for pilgrims without the need for currency conversion. This currency will be compliant with Islamic law and will be used to pay for accommodation, transportation, food, and other services during Hajj. It can also be earned through volunteer work or by the pilgrim adhering to health and religious guidelines, enhancing the digital Hajj experience and reducing reliance on cash.
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The currency will be issued under the supervision of the Saudi Arabian Monetary Authority (SAMA), and will be built on a secure blockchain network that allows for transparency and transaction tracking. HajjCoin can be easily converted to and from global currencies, opening the door for its use in Islamic stores outside of Saudi Arabia as well. The project is a pioneering step towards integrating financial technology with worship, making Hajj a smart and integrated experience that serves Muslims around the world.