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?
Currency And The Islam
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.