LIVEWhat We Need To Know About Shariah-Oracle.
The Shariah Oracle serves as an on-chain registry of Halal Certificates that provides smart contract developers and web2 businesses a way to prove their ethical relevance for Muslim users by listing their products/services on the Haqq Wallet ( HAQQ Network ).
The Shariah Oracle integrated with Haqq Wallet ( To be ) will ensure that only whitelisted, Sharia-compliant dApps can be accessed by users. This feature, approved by the community and Shariah Board, will guarantee that all smart contracts interacting with the HAQQ Wallet adhere to Islamic principles and ethics. It will offer a transparent, secure, and Shariah-compliant environment for investment, protecting against unethical activity and potential security threats. By using Soulbound tokens, other smart contracts like Decentralized Exchanges (DEXes) can also quickly verify the Shariah compliance of ERC-20 tokens, promoting increased compliance and security within the HAQQ ecosystem.
In essence, the Shariah Oracle acts as a gatekeeper for ensuring that all interactions within the ecosystem align with Shariah principles and ethical investment practices, benefiting Muslims and ESG-driven investors who prioritize ethical investing.
To read in detail, visit HAQQ Network whitepaper.
