If you have heard that blockchains, cryptocurrencies such as Bitcoin or Ether, and DeFi are not halal, think again. Not all cryptocurrencies are haram. Not all flash loans are just flashy frauds. Indeed, one of the main features of decentralised finance (DeFi) is its lack of anything to do with conventional banks, financial institutions and Western usury in general. Cryptocurrencies are out to clean up the financial world for good. It's a quiet revolution! So let's explain how MRHB DeFi fits in here.

What Is The Meaning Of Halal?

Halal is a Muslim term meaning permissible. Most people assume that halal means haram. This is wrong, and they should check the definition of halal before assuming the word to mean haram (forbidden). Halal is a term used in the Muslim community to describe anything that is not forbidden, is not haram, and is permissible. Halal means you can do it without going against your religion.

Halal MRHB

For example, if you are Muslim, the use of Bitcoin, MRHB DeFi's services, and cryptocurrencies in general is not haram because it all takes place on a distributed ledger and is peer to peer. You can use MRHB DeFi without insulting your religion because the transactions on the blockchains it uses are decentralised. As such, the blockchain does not need to follow the same rules as banks because it is distributed around a global network of computers, or ‘nodes’. The users of the blockchain, the participants in this network, own their cryptocurrencies, not banks or governments. The crypto universe runs largely divorced from any central authorities such as Western, or in fact any, banks. That means it is ideal for those who will not, or cannot, use banks!

What Is MRHB DeFi?

MRHB DeFi simply does decentralized finance. There are no banks, traditional finance institutions, Western usury or any traditional financial intermediaries involved. You are free to borrow and lend in accordance with Shariah regulations or the halal principles of Islamic finance. There is no traditional finance here, just financial autonomy.
But MRHB DeFi is not just about Islamic Finance. It is also about Islamic Law. The Shariah, or Islamic Law, is very clear about how we should treat money, finance, banking, and all other aspects of financial activity including debt. Islamic finance is about making the whole financial system halal. This is a perfect fit for the new blockchain technology and its cryptocurrencies, such as Bitcoin and Ether.
There are many ways to use your money and halal finance products can be used in the same way as your usual money in your day-to-day life. You can use them to give or take out money. You can also invest in them. You can lend and borrow money.

MRHBDeFi In A Nutshell

To explain and summarize, we have three main features of MRHB DeFi, which uses blockchain technology and decentralised applications (DApps) which run on it. First, no traditional finance intermediaries are involved. Second, no banks. Third, no Western usury. Instead, we use blockchain technology. It's automated.

What Is This Blockchain?

A blockchain is an incorruptible, transparent, and tamper-proof record of all transactions and activities that happens on it, from the first moment it is generated. A blockchain is an open digital ledger that is accessible to everyone. This means that you can see what people have done and when they have done it.. However, you cannot change or alter any records already in the system. This is a very powerful aspect of blockchain technology.
Blockchain technology is a distributed digital ledger system that keeps a record of all transactions. This can be used to track the history of any product or asset. The blockchain is also used for financial transactions because the ledger technology means that there is no middleman. All transactions are recorded and verified automatically by your computer peers on the blockchain computer network.

The Blockchain Advantage - No Doubts, No Touts!

Blockchain is a technology that can be used in a variety of different ways. Some of the key attributes of blockchain are decentralization, tamper proofing, auditability, traceability, immutability, and consensus. Blockchain is one of the most powerful technologies that we have ever known. It is the basis of a wide range of emerging technologies, including cryptocurrencies, blockchains, smart contracts, NFTs (non-fungible tokens) and smart property. Yes, you can buy real estate using a smart contract, which is a business program on a blockchain such as Ethereum, and cryptocurrencies, such as Ether! You don’t need to pay a real estate agent any more!

Is Cryptocurrency Halal?

You can use cryptocurrency (Bitcoin, Ether) without straying from your religion by converting it into a halal form. This is because the blockchain is a decentralized form of money and as such, there is no central bank or bank manager to break the rules. The blockchain is simply an incorruptible and tamper-proof digital, computerised record of all transactions that happen on it. This means that you can see what people have done there, but no existing records can be fixed or hacked. If you want to update something, you have to add a time-stamped new record. If your peers on the network disagree with your new record, the entire state of the whole network goes back to how it was before you added your latest piece. Your new record is automatically rejected!

Halal Flash Loans

A halal flash loan is a short-term, interest-free, non-collateralized loan. When someone wants to borrow money, they can do it on the blockchain. The borrower is guaranteed repayment in a timely manner because they have a blockchain record of all transactions. There is no intermediary. No human ‘fixers’ are needed. It all happens inside a special ‘smart contract' program that checks everything is as agreed, then runs the loan process at light speed on the blockchain. There are no agents or ponzi people. There are only service charges from the blockchain to allow for. This is a computer with no funny ideas.

Halal Arbitrage

Halal cryptocurrency exchange arbitrage: Bitcoin and Ether trade carried out in halal fashion. That is to say, they are traded like a commodity. If you do a halal cryptocurrency exchange arbitrage, you are using a cryptocurrency to buy the cryptocurrency that trades at a higher price in the halal market. You are able to do this because blockchain is a tamper-proof ledger system that allows anyone to verify the activity of any transactions. Profits can be spectacular over relatively short periods of time if you have the right training and tips in this regard.

Halal Arbitrage With MRHB DeFi

Halal cryptocurrency exchange arbitrage is an opportunity. We are in a world that is moving towards more centralized institutions and less decentralized technology. The blockchain solves this problem by having a distributed digital ledger and peer to peer network. Because of this, you can exchange different types of cryptocurrencies without having to go through a traditional exchange. Transactions are handled fast by smart contracts (automatic self-checking contracts) on the blockchain, say, the Ethereum or Binance blockchains. Artificial intelligence does it all without human intervention. This is all available at MRHB DeFi.

Halal Free Money Airdrops

A halal airdrop is a way of getting free crypto tokens. Many companies use halal airdrops to help the community. These tokens are usually distributed to those that have contributed to the project. Companies can do this because of the transparency and openness of blockchain.

Halal Charity Blockchain

A halal charity is one where the charity's activity is transparent. For instance, a good halal charity would be one that used a blockchain to fund its activities. Such a charity would be able to track the donations, and anyone could check if the charity is doing a good job for the poor. It would be possible to track the charity and the donations using the blockchain.
Halal DeFi can be used for charity. The money received from doing a halal airdrop can be used in a transparent and charitable fashion. The money is distributed in a way that is transparent and has a low transaction cost. This allows for charities to be able to achieve more.

What Are NFTs?

NFTs (non-fungible tokens) are digital tokens that are unique. There are different types of NFTs, for instance, you can buy digital art and unique, original items from websites like CryptoKitties. These are created and stored on a blockchain. When you want to sell something, you can do a sale transaction on a blockchain. There are various blockchains, but the main one for this type of business is still the Ethereum blockchain. Transactions such as NFT sales on this blockchain use its native cryptocurrency, Ether, or ‘Eth’, for short.

Halal NFTs

A halal NFT is any virtual object that works in a halal fashion, and that is a product of a halal culture. A halal NFT can be any type of physical object in any form. The NFT is then made digitally using blockchain technology, which ensures its tamper-proof and transparent nature. This is a key feature of blockchain technology.
The NFT is a token that represents a collectible item on a blockchain. This can be used for more than just charity. Individuals can play games and interact with other people. Even the act of giving is now open to technology.

Halal CoinTokens

Halal coin tokens are a type of virtual currency. They are a digital form of money or cryptocurrency. However, they are completely halal. What does this mean? It means that, since they exist only on the blockchain, they are free from any Western bank corruption or manipulation. They have nothing to do with unsavory financial practices and are not part of the overprinted paper currency scam.
Halal coins or Halal coin tokens are tokens that are used to raise money for charity. They are one of the best ways to raise more money for charity as they can be traded for other more usable tokens. These tokens can be used to pay for services such as the halal charity of your choice. It is important to ensure that the tokens are halal as they will be used to pay for halal charity services.

Let The Buyer Beware!

Some tokens, however, are not as decentralized as others. It depends on how the team of programmers who created them went about their business. For a token to be really halal, it has to be mapped to a truly decentralised blockchain, such as the Ethereum blockchain. This applies generally, too, to all cryptocurrencies. Therefore you really need a bit of expert help to identify genuinely halal decentralised financial instruments from the thousands of offerings out there. Most of them are fine, but some are definitely scams. Don’t let strangers take advantage of your good will. There is now a specifically halal decentralised financial exchange and it has its own properly vetted and checked halal financial instruments. This helpful entity is called MRHB DeFi and it is building the world's first halal DeFi business platform.

This includes, but is not limited to, the following;

• SouqNFT Platform – the marketplace for Shariah-compliant NFTs.
• Liquidity Harvester - MRHB’s "killer product”, a cross-chain liquidity harvesting protocol, designed to generate halal returns in the 5 - 15% range (in comparison to the 1% Islamic Banks currently offer).
• Sahal Wallet - a multi-currency non-custodial Wallet, that holds only shariah-compliant tokens, with Token Swapping Features. This means that you can trade up your tokens with a clear mind.

A World First

MRHB DeFi is building the World’s First Halal DeFi Platform. They have halal DeFi at their fingertips. They are waiting to educate and advise you about how you can safely and cleanly profit from many new and exciting opportunities in distributed finance. These include pure business investment, getting a stake in the booming NFT digital arts arena, and helping out charities efficiently, for a change. And that's just for starters. Contact them! It's all guaranteed to be halal.