HALAL Screening Cryptocurrency
Is AIOZ Network Halal?
Complete Shariah Compliance Screening of AIOZ Network to determine if it is a Halal or Haram cryptocurrency
Legitimacy Screening
What is AIOZ Network
AIOZ is a cryptocurrency that powers a decentralized content delivery network (CDN). Think of it as a way to stream videos and share content over the internet more efficiently. Instead of relying on big companies to store and deliver videos, AIOZ uses a network of users' devices to help share and distribute content. This means that when you watch a video, it can come from multiple sources, making it faster and reducing the load on traditional servers.
What makes AIOZ unique is its focus on decentralization and community involvement. By allowing everyday people to contribute their bandwidth and storage, it creates a more resilient and cost-effective way to deliver content. Plus, users can earn AIOZ tokens for sharing their resources, turning streaming into a rewarding experience. So, it’s not just about watching videos; it’s about being part of a community that helps make the internet better for everyone!
Transparent and Credible Team
The report highlights Erman Tjiputra's background and experience. He founded the network in 2013 and has a background in finance and AI. The team has also been accepted into peer-reviewed AI conferences. This suggests a transparent team with credible history, therefore a good score is warranted. Score: 75
Clear Use Case or Purpose
The AIOZ Network is described as a decentralized content delivery network (dCDN) that leverages blockchain to empower web3 builders. It has use cases in AI computation, live streaming, and video on demand, with a focus on low latency and scalability. This demonstrates a clear and legitimate use case. Score: 90
Absence of Fraudulent Behavior
The report notes that the AIOZ Network has various blockchain explorers and platforms to verify its existence and operations, as well as official documentation and a development roadmap. However, there's no mention of third-party audits of the entire network, only an emphasis on third-party audits for validators which the team will not conduct or approve. This warrants a lower score, as a third party audit is a good indicator of the absence of fraudulent behaviour. Score: 65
Ethical Practices
The project emphasises decentralisation and transparency. The platform's tokenomics are clearly explained, including how the AIOZ token is used. However, the sources do not explicitly mention the use of KYC or AML practices. This suggests that while the project is generally ethical there are some elements missing with regards to regulatory compliance. Score: 70
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AIOZ Network Halal Project Screening
- Are the project’s purpose and operation Shariah Compliant.
- Does the project operate ethically and transparently, without harm to society.
- Does the project promote positive societal or environmental outcomes.
AIOZ Network Financial Screening
- Does the revenue involve Riba (interest), Gharar (excessive uncertainty), or Haram activities.
- What red flags are hidden within the projects finances and are within permissible limits.
- Types of revenue generation activities and the percentage that may be Riba or interest based.
- Audits from reliable sources
AIOZ Network Token Screening
- Is the Token governance fair and ethical?
- Are profit-sharing mechanisms (e.g., staking rewards, dividends) compliant with Islamic Finance?
- Does the token’s design, or unlock schedule raise unethical concerns?
- Halal underlying asset, and free from impermissible elements
Is Staking AIOZ Network Halal?
- Are the staking operation aligned with Shariah-compliant structures.
- Does the staking avoid Gharar (excessive uncertainty) and Maysir (gambling)?
AIOZ Network Shariah Compliance Score
- Total Shariah Compliance Score out of 100
- 27 different components researched
- More comprehensive than any other platform