bitcoin islam halal sharia . newsbtc bitcoin news Bitcoin can do a world of good all over the globe, and the technology powering the network offers a ton of potential. But not everyone is looking for a solution in the financial sector or any other industry where blockchain technology might play a significant role. Furthermore, there is the topic of religion, which begs the question whether or not Bitcoin can be in conflict with one’s beliefs. For example, is the involvement in Bitcoin halal under the laws of Islam, and is there an intrinsic value to the popular digital currency?
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Currency is a strange concept , as it is very hard to define what makes a particular medium of transferring value legal or not. Before money in its current form was created, people used barter to complete transactions, with the value of goods changing on a regular basis. But there is also the religious concept to take into account, as every belief has their own “standards” regarding money and currency.
Especially when it comes to exchanging one type of currency for another, things are not as clear under the laws of Islam . In the Western world, people take this type of business for granted and rarely give it a second, though. But certain religions are quite strict on currency exchange, begging the question what the stance of the Islam is.
Based on the answer provided by Islam Today , it looks like the exchange of currency is a permissible form of business. However, both parties have to receive the money for this transaction by hand, and delays are not permitted. While these rules were created for precious metals, the same principles […]
