Will Bitcoin Be a Primary Currency for Islamic State?
Will bitcoin be a primary currency of Islamic State as it seeks to establish an actual nation? Islamic State (IS) has used bitcoin to raise funds, according to Deutsch Welle, a German-based satellite TV station. An IS bitcoin account received around $23 million in the past month, according to the report. As the militant group seeks to establish an actual nation, IS is building state-like institutions and services, including schools, hospitals and now a treasury. Bitcoin And The 'Gold Dinar'. In addition to using bitcoin, IS has also minted and released its own currency called the "gold....
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News that Bitcoin can be tied to the Islamic State circulated on the internet in the wake of the Paris attacks. European Union leaders even held a so-called "emergency meeting" on virtual currencies themselves, reportedly investigating how to better control the currency. To be sure, evidence that the Islamic State uses Bitcoin in any significant manner is non-existent, the claims specious at best. Researcher Nicholas Weaver, from the Berkeley-based International Computer Science Institute, is aware of no evidence that the Islamic State uses Bitcoin. "There was a recent material support....
The Islamic State (IS) might be trying to use bitcoins to fund its operations. According to a well-respected journal, Foreign Policy, the US government should try the same in the fight against IS. An individual called "Abu Ahmed al Raqqa" appealed to supporters of the Islamic State to send funds to the militant group in bitcoins to expand its "caliphate" in Internet messages posted last May. The messages were posted on the darknet. IS has used online propaganda to further its cause, in particular with social media and other marketing blitzes to gain attention. As Washington Post writes of....
An Islamic scholar, Irshad Ahmad Ijaz, has asserted that digital currency is not fake currency and that it should be legitimized once certain conditions are met. Ijaz’s viewpoint is echoed by other scholars that attended a seminar examining the status of digital currencies from the perspective of Islamic law.
Use of Crypto in the Digital Age
An Islamic scholar or Mufti, Irshad Ahmad Ijaz, recently argued digital currencies are not so-called fictitious currency, a report has said. He, however, suggested that such currency can only be justified once certain conditions have....
A pro Islamic State in Iraq and Syria (ISIS) blog has released a post detailing the potential Bitcoin provides for terrorist funding. I want to emphasize that the Islamic State of Iraq and Syria (ISIS) has not proposed using Bitcoin to fund global jihadist efforts. The majority of ISIS members, the majority of Muslims, and the majority of human beings on the planet Earth have not even yet formed their first cohesive thoughts on Bitcoin. Many reports that claim that the pro-Bitcoin announcement came directly from ISIS itself have been circulating and causing fear, uncertainty, and doubt.....
Warba Bank, a Kuwait-based Islamic bank, recently became the latest corporation from the Middle East and North Africa (MENA) to enter the metaverse. The bank now occupies two sites in the metaverse, one Decentraland and another one on Sandbox.
Pioneering Digital Transformation
In what has been described as a first for an Islamic bank, the Kuwait-based Warba Bank recently said it now occupies two sites in the metaverse, one on Decentraland and another on Sandbox. The bank’s presence in the metaverse is expected to bolster its communication with the young generation.
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