hi'Hodi' my pals and Publish0x Family. I hope you have all answered, 'Karibu'.
This is Kiswahili my pals. Hodi literally means May I Come in. In fact Karibu means come in.
Have you noticed the many words used for only one word in Kiswahili?
Ha ha ha! This is a sign that your man Meshack Bwoyele Keya notoriously known as @stbrians has descented in the site with some goodies.
Decentralisation Finance (DeFi) in the court dock again. It is lying bare before you for your informed judgement.
Why Decentralized Finance?
- Decentralized finance provides autonomy and functionality to its users with a set of agile tools that curtails the operational risks of banks and brokerage firms.
Banks and Brokerage firms ran galore in their operations thus making trade and investment very difficult. Decentralized Finance curtailed the operational risks of these financial institutions. Central Banks and countries controlled the economy. Unfortunately the centralization led to inflation and other vices related to centralization.
Fear And Conviction.
We seem to be relapsing into Centralization. Now it is not by Fiat money but by cryptocurrency.
Blockchain, the database of cryptocurrency and Defi seems to be the only saviour to the relapse. Very many coins are erupting right and left, threatening the Decentralisation.
The Islamic Finance Coin Approved.
Moslems are celebrating as their own Sharia compliant coin is approved. The Islamic Coin is a native coin of the Haqq (community-run network), It is dedicated to empowering an ethics-first Shariah-compliant financial ecosystem.
Currently, the coin is not in exchanges but it can be purchased if you
Check CoinMarketCap to see where you can buy ISLAMICOIN and with which currencies.
Though other people who are not Moslems can buy the coin but somehow the coin is aimed at empowering the world's Muslim community with a financial instrument for the Digital Age, that enables seamless transactions and interaction, while supporting innovation and philanthropy.
When I observe this with an Eagles eye, I come into conclusion that we are moving towards centralization again. If we happen to have coins supporting factual groups, then we are heading there.
Some laws may begin emerging that non Moslems should not own the coin. Not that the rules have been enacted but the Premonitional fear is there that such may arise. The Islamic countries has been issued a Fatwa based on the Teachings of the Holy Quran by the World’s leading authorities in Islamic Finance.
Other Coins
- Facebook coin
- Twitter coin
- Telegram coin
- etc
All the coins are Decentralized and controlled by the Blockchain and the issuers cannot control the coin once in circulation. Yet it may reach that time when a certain faction will want monopoly of their coin. We will slowly relapse into centralization.
Disclaimer
The writer of this article is not an expert on matters of finance and this article is only for blogging purposes.
