Caizcoin prides itself as the first liberal Islamic decentralized blockchain whose goal is to create financial freedom for everyone. The project’s mission is simple; to offer innovative financial solutions that allow everyone to participate in the modern financial world while complying with Islamic values. This is the first blockchain project that combines Islamic values of justice, honesty, trust, safety, transparency, fairness, compassion and harmony with the modern values of freedom, open-mindedness, acceptance, independence, internationality, innovation and digitization.
The idea to develop this project came around in 2018 since the founders envisioned a project that would unite both the Islamic and Western worlds by providing easy international transfers with low fees. An international team of Muslims and non-Muslims was assembled for this task, and it wasn’t until the third quarter of 2020 that they broke ground.
The Caizcoin Token
The project has a native token known as Caizcoin, which serves as a utility token on the platform. It has a total supply of 999,999,999 tokens, and it is built on Ethereum following the ERC-20 token standard. It’s currently available through a private sale, and from March 16 until May 31, it will be availed to the public on the first sale, where participants will get a 10% bonus. Here the token will go for around $0.65 per token. The second phase of the public sale will take place from June 1 to August 30, and participants will get a 10% discount with each token costing about $0.75.
Mission And Objective Of The Project
Caizcoin exists to provide a decentralized financial solution and crypto token that allows for fast and cost-efficient international money transfers. Boasting financial freedom, low transaction fees, adequate KYC, with no minimum holding fees and it’s possible to withdraw at any time. The goal is to provide financial freedom to everyone while being compliant with Islamic values. This is possible by building an innovative and technology-based financial solution that includes a crypto coin compliant with Islamic finance rules.
The project considers Islamic values at every step of the journey from investing, owing and using the native token. It allows for anonymous transactions that are secure due to blockchain with low transaction fees.
The platform itself has an API that allows for easy integrations. This means for many vendors, collaborating wallets and credit card providers to integrate with the platform with ease. On top of serving as a utility token on the protocol, Caiz can be used to finance trips to Mecca, make purchases at all partner vendors who have been selected and approved based on Islamic values, and for social donations such as Zakat and Waqf.
The Caizcoin ecosystem is made up of the Caiz token, which has been covered above, its own blockchain that guarantees faster and anonymous transactions and incredibly doesn’t require mining to function, an API for integrating with 3rd parties, a wallet for securing your tokens and a digital bank which abides by Islamic banking rules and values.
The project targets people of all backgrounds aged between the ages of 25 to 55 years. If you are tech savvy and lie between the age group then you have an added advantage. This can be business people used to traveling, western Muslims who transfer money back to their home country or family members, retail and institutional investors and global business transactions.
On top of all the benefits the project has to offer, its token is backed by precious metals, which gives Caiz a stablecoin status and minimizes the level of speculation when it comes to its value. This is key for any token that seeks to be a medium for cross-border transfers. And thanks to Fatwa certification, which guarantees the project is Islamic compliant; no fees are charged up to a certain number of transactions. This allows users to enjoy many free global transactions that are free, quick and anonymous. And thanks to the platform’s wallet, user funds and data are protected fully.