Australian-based crypto platform Marhaba DeFi says there has been a strong take-up of Halal-approved cryptocurrency products on its platform, with aims to release a suite of new products which align with Islamic law by the end of 2022. Launched in 2020, the platform is focused on adhering to the rules of “Islamic finance” which refers to how businesses and individuals raise capital in accordance with Sharia, or Islamic law. Speaking to Cointelegraph, Marhaba DeFi founder and CEO Naquib Mohammed said active users of their non-custodial multichain “Sahal Wallet” have grown to around 40,000 since its launch, stating: “People need a …

Many religious denominations now offer interactive digital locations to supplement traditional services, but unique to COVID-19 is the opportunity to experience spirituality in an immersive 3D environment through virtual reality (VR) technology. As per a report by NZ Herald, Garret Bernal and his family were reportedly absent from a recent Sunday service during their quarantine for COVID-19 exposure. So he donned a VR headset and tried praying in the metaverse. He was instantly transported to a three-dimensional virtual realm of pastures, cliffs and rivers as the representative of a pastor guided him and others through computer-generated images of Biblical passages …

The Tarjih Council and the Central Executive Tajdid of Muhammadiyah, one of the largest non-government Islamic organizations in Indonesia, issued a new fatwa against cryptocurrency use, deeming it haram, or unlawful, for Muslims. The fatwa, a ruling on the point of Islamic law, was issued on Tuesday and pointed towards two critical issues with cryptocurrencies that make them illegal as an investment tool and a medium of exchange under Islamic laws: The speculative nature of cryptocurrencies makes them imperfect as an investment tool. The crypto tokens are believed to contain “gharar” (obscurity) which means they are not backed by anything …

The East Java branch of one of Indonesia’s largest Islamic organisations Nahdlatul Ulama (NU) has issued a Fatwa deeming the use of cryptocurrency ‘haram’, or forbidden, under Islamic law. A Fatwa is a nonbinding legal opinion on Islamic law, which is reached through a discussion called a bahtsul masail. Representatives from the Nahdlatul Ulama (PCNU) Branch Management and several Islamic boarding schools throughout East Java attended the bahtsul masail. Interest in cryptocurrency has surged in Indonesia over the past year. Earlier this month, a report by Coinformant reported that Indonesia saw a massive 1,772% increase in the number of people …

Dapper Labs targeting DAOs with Brud acquisition Dapper Labs, the $7.5 billion team responsible for NBA Top Shot and Flow Blockchain, acquired virtual influencer start-up Brud this week. In the Monday announcement, CEO Trevor McFedries announced a new initiative titled Dapper Collective, which will aim to support communities in building decentralized autonomous organizations, or DAOs, through the Flow blockchain. Brud is infamous for its creation of social media avatars, most notably Lil Miquela, a fictional 19-year-old Robot living in Los Angeles with three million Instagram followers. The avatar influencer has intrigued social viewers with her fashion and beauty sponsorships, dramatized …

Former United States Senator Rick Santorum has joined the board of a Catholic community-oriented cryptocurrency project, according to a press release published on June 4. The former senator and Republican presidential candidate is now a board member of the Catholic community-oriented cryptocurrency project dubbed Cathio. The platform is designed to address the needs of the Catholic economy by ensuring lower costs, greater transaction visibility, and improved security for the community. Santorum was a noted cultural conservative in U.S. politics, who strongly opposed abortion and same-sex marriage on his failed presidential campaigns in 2012 and 2016. Santorum argued that Cathio will …

Through the use of Blockchain technology and its transparent and immutable ledger, there is a drive for religious spending to be visible and known to parishioners. The Lotos Network hopes to rethink religion with two concepts offered by Blockchain technology. The hope is that by digitizing currency on a transparent ledger, the misappropriation of funds within religious sectors will end. There already has been some dabbling from other religions into the power of digital currencies as Bitcoin is in the works, a digital currency for Jews. The purity of a Lotos Anton Doos, the man behind the Lotos Network, is …

Cyber•Fund says that Bitcoin will lead to a new cybernetic economy. In a quirky new report, the fund explores how far along this new economy has come and makes some interesting predictions. “Cybernetic economy should multiply human wealth 10 times every 18 months,” cyber•Fund architect Dima Starodubcev said in the slide-show-style report. The report dives into the economy of DAOs (decentralized autonomous organizations), defined as a company that makes decisions and leads itself—Bitcoin is an example, and so are projects like Ethereum and NXT. The authors say the economy in the early stages, but that it will grow rapidly. By …