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LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW
UAE Blockchain Strategy 2021: http://www.arabianbusiness.com/technology/394073-sheikh-mohammed-launches-the-uae-blockchain-strategy-2021
Dubai moving to Blockchain: https://blockexplorer.com/news/uaes-blockchain-strategy-50-of-government-transactions-will-be-conducted-using-blockchain-technology-by-2021/
Blossom Finance Press Release: https://blossomfinance.com/press/is-bitcoin-halal-or-haram-a-shariah-analysis
Bitcoin in Turkey: http://www.newsweek.com/turkey-says-bitcoin-soaring-above-10000-not-accordant-islam-725350
Bitcoin in Egypt: https://cointelegraph.com/news/bitcoin-in-egypt-is-treated-like-narcotic-drugs-but-enthusiasts-soldier-on
The UAE has released their blockchain strategy for 2021 is focused on Dubai becoming a world leader in adopting the technology.
They’ve realized just how much more effective blockchain tech will be in regards of governmental time, money and resources. It would literally save them billions of AED, or Emariti Dirham, a year. They are planning to have 50% of federal government transactions to occur on a blockchain.
The UAE will also be building up education around blockchain technology by providing events, workshops, and university courses on the new technology and encryption.
They’ve already released plans to integrate a blockchain with their tourism industry which would allow tourists to access transparent and relevant pricing for all of the tourist organizations offered in Dubai.
There has also been a recent report released by one fintech startup that says “…Bitcoin is ‘generally permissible’ under Sharia Law.” This startup is called Blossom Finance and it’s based in Indonesia. The member of their team who wrote this report is a certified Muslim legal expert and he is very well versed with the Qu’ran. He has come to the conclusion that Bitcoin could be considered Halal, or permissible under Sharia law. He supports this by citing the different Islamic definitions of both property and currency, and also reasons that because Bitcoin uses Proof of work, it could actually be *more* halal than the current debt based fiat system we have today.
Now this report is certainly nothing official and it goes against what other Muslim countries like Turkey and Egypt have deemed Bitcoin as haram, or prohibited.
On the other hand, it could very well be the signal of a change of heart for other Muslim countries, or at least an example that they may use to also agree that Bitcoin is permissible. This would open the door for many muslims to enter the cryptocurrency market, and broadening the user base of Bitcoin.
all while they wear bed sheets and treat women like slaves and property
Ummm nothing new, other countries are looking to dominate the crypto currency
I have heard that important people in Dubai are interested in the blockchain company Stockholm IT Ventures AB. Do you know anything about that?
When muslim cleric say bitcoin halal then you will see a massive gain in the next 2 years… they have billion oil money to spend
Your videos are SO well made compared to the vast majority of your contemporaries on here! Well done!
Great News!
Dubai. LOL. When the oil charade ends the desert will reclaim the space. Then they'll go back to chopping off heads and killing over who loves Muhammad better. Or…they'll legalize gambling. Say 2025?
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awesome and mind expanding info Heidi! wonder if you could maybe do a series on how each continent's major economies are embracing or rejecting crypto…thank you for your great work!
But they will have their own coin, which they will eventually dominate and inflate.
I’m a Islamic low teacher and I can say with all certainty, Bitcoin is Halal 100%
Hi again, you must be getting fed up with my constant comments by now eh. “Oh no it’s that darn JuicyVeganDwarf again” haha. On a serious note though I love your short, to the point, informative videos and the locations.
The graveyard is a bit morbid compared to your usual backdrops.
If Dubai money pours in all of us early adopters will moon
Is blockchain wallet use fiat/currency to allow to purchase on exchanges?
Love Reggae and Crypto. You are a Diva.
Out of all the major crypto YouTubers who covered this topic you definitely did the best job. Great video!
Looking so beautiful dear.
Truly love your informational and short videos. Thank you!
Thanks dear love your work, but in front of a cemetery 🙂
Bam bam Nancy 🙂
Great find.
The best smile (and info) in crypto. 🙂
Love your channel girl keep crushing