Muslims In Crypto

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Muslims In Crypto

Since the inception of Bitcoin in 2009, the cryptocurrency and blockchain industry has been one of the most exciting and rapidly-growing industries in the world. And while there is still much room for growth and innovation, Muslims have played a significant role in shaping this new ecosystem.


There are an estimated 1.8 billion Muslims around the world, making up roughly 24% of the global population. And while Muslims come from a wide variety of backgrounds and cultures, there is a strong sense of community and shared values within the Islamic faith. This has made Islam one of the fastest-growing religions in the world, with an estimated 3 million converts every year.


And as more and more Muslims enter the digital age, they are increasingly turning to cryptocurrency and blockchain technology as a way to participate in the global economy. In fact, there are now numerous Muslim-friendly cryptocurrencies and blockchain projects in operation.

Notable Muslims in Crypto and Blockchain

Here are just a few examples of Muslims making waves in the cryptocurrency and blockchain space:


  1. Faisal Khan is the co-founder of Pakistani cryptocurrency exchange Urdubit. Launched in 2016, Urdubit was one of the first Bitcoin exchanges in Pakistan and helped to grow the country’s fledgling crypto community. Despite great adoption sadly it shut down operations in April 2018 after central bank of Pakistan banned crypto.


  1. Humayun Khalid is the CEO of Pakistani startup BitStax, which is building a decentralized exchange for Bitcoin and other digital assets. Khalid is also a founding member of the Blockchain Association of Pakistan.


  1. Farooq Oomerbhoy is a venture capitalist and entrepreneur who specializes in investing in early-stage technology companies. Oomerbhoy is a partner at Falcon Edge Capital, a hedge fund with over $1 billion in assets under management. He was an early investor in Bitcoin exchange Coinbase and also sits on the board of BlockFi, a cryptocurrency lending platform.


  1. Mohammed El-Erian is the chief economic advisor at Allianz, one of the world’s largest financial services firms. El-Erian is a respected economist and market commentator, and he has been increasingly vocal about the potential of cryptocurrency and blockchain technology in recent years.


  1. Yasin Qureshi is the co-founder of Dubai-based cryptocurrency exchange BitOasis. Launched in 2015, BitOasis is one of the leading exchanges in the Middle East and North Africa region.


  1. Adnan Javed is the co-founder of Pakistani crypto startup Pakcoin, which launched Pakistan’s first national cryptocurrency in 2016. Pakcoin didnt generate a lot of success but Javed remains active in the crypto community and is a founding member of the Blockchain Association of Pakistan.


  1. Amir Taaki is a British-Iranian programmer and political activist who was an early pioneer of the cryptocurrency movement. Taaki is best known for his work on the Bitcoin software client Electrum and for his involvement in the development of the Dark Wallet privacy-focused Bitcoin wallet.


  1. Rania LF is a Lebanese entrepreneur and investor who specializes in digital media and technology investments. LF is the co-founder of MEVP, one of the leading venture capital firms in the MENA region, and she is also a partner at Wamda Capital, another VC firm with a focus on startups in the Arab world.


  1. Thanvir Chowdhury, a British entrepreneur with almost 20 years in commodity trading markets, currently serving as the CEO of Physical Commodity Exchange and the founder of our very own CryptoUmmah. Providing Muslims with the collective wisdom from millions of crypto traders and investors.


These are just a few of the many Muslims who are making waves in the cryptocurrency and blockchain space. As Islam continues to grow as a global religion, we can expect to see even more Muslim involvement in this cutting-edge industry in the years to come.

Muslim Countries and Crypto

As the world of cryptocurrency and blockchain technology continues to evolve, so do the rules and regulations surrounding it. For Muslim countries, this can be a bit of a tricky situation as there are certain religious guidelines that must be followed.


But that doesn’t mean that these countries are completely against the idea of digital currencies. In fact, many Muslim countries are actually starting to warm up to the idea of crypto and blockchain. Here’s a look at how some Muslim countries are approaching this new technology.


Perhaps one of the most notable examples is Iran. The country has been working on its own national cryptocurrency for quite some time now. And while there have been some delays, it seems that the project is finally gaining traction.


Iran’s cryptocurrency will be backed by the country’s reserves of gold and other precious metals. This is meant to help stabilize the value of the currency and avoid some of the volatility that has plagued other digital currencies.


Another Muslim country that is taking a more open-minded approach to crypto is Turkey. The country has even gone so far as to launch its own cryptocurrency exchange. This is a pretty big deal, as Turkey is home to a large number of Muslims.


The Turkish exchange offers a number of different digital currencies, including Bitcoin, Ethereum, and Litecoin. It’s still early days for the exchange, but it’s certainly an intriguing development.


Finally, we have Indonesia. The country has been working on its own national cryptocurrency for a few years now. And while it’s still in the development stage, the project is starting to gain some serious momentum.


Indonesia’s cryptocurrency will be called “LinkAja” and it will be based on the country’s existing e-money system. This should help to make it more accessible to a wider range of people.


As you can see, there are a number of Muslim countries that are starting to explore the world of cryptocurrency and blockchain technology. It will be interesting to see how these projects progress in the coming years.


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