• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Sidra Network: Fintech Innovations for Islamic Banking

user avatar

by Giorgi Kostiuk

4 months ago


Sidra Chain is a blockchain platform specifically built for Shariah-compliant financial transactions. It operates as a decentralized Proof-of-Work network forked from Ethereum, launched in 2022 with its mainnet going live in October 2023.

Islamic Finance Principles on the Blockchain

Shariah compliance forms the core of Sidra Chain's operations. Islamic finance prohibits interest (riba), excessive uncertainty (gharar), and investments in prohibited industries like alcohol, gambling, or pork. Sidra Chain offers financial instruments that adhere to these principles, such as Sukuk and Murabaha. The blockchain's transparency aligns perfectly with Islamic finance's emphasis on ethical transactions.

The Three Main Components of the Sidra Ecosystem

The backbone of the ecosystem is the Sidra Chain network, which went live in October 2023. Sidra Coin (SDA) serves as the native digital currency, facilitating exchange and user rewards. Sidra Bank is a digital banking service offering Shariah-compliant financial services.

Practical Applications of Sidra Chain Technology

Sidra Chain enables efficient cross-border payments and supply chain management for halal products. It also offers a platform for Shariah-compliant fundraising, allowing Islamic startups to receive financing that meets religious requirements.

Sidra Chain represents an important development in applying Islamic finance principles to blockchain technology. The platform's success will likely depend on addressing current technical challenges and improving information accessibility.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

Other news

Trump Media's ETF Application for Bitcoin and Ethereum Could Transform the Crypto Market

chest

Trump Media has filed for an ETF focusing on Bitcoin and Ethereum, potentially expanding investment options for crypto investors.

user avatarGiorgi Kostiuk

Murano Hotel Chain Decides to Add Bitcoin to Its Assets and Consider BTC Payments

chest

Murano hotel chain has started acquiring Bitcoin and plans to accept BTC as a payment method, following global trends.

user avatarGiorgi Kostiuk

Regulatory Scrutiny: Robinhood's New Stock Tokens Under Investigation

chest

Regulatory concerns emerge over Robinhood's stock token offering in the European Union, prompting an investigation by Lithuania's central bank.

user avatarGiorgi Kostiuk

Dubai Approves First Tokenized Money Market Fund for Institutional Investors

chest

The Dubai Financial Authority has approved the QCD Money Market Fund, utilizing traditional assets on blockchain for institutional use.

user avatarGiorgi Kostiuk

Cardano (ADA): Prices and Predictions for July 2025

chest

Cardano is fluctuating around $0.58. Let's examine possible support and resistance levels for ADA in the near future.

user avatarGiorgi Kostiuk

Market Insights: Bitcoin Holds Steady, Altcoins on the Rise

chest

Expert Dylan shares his forecasts on cryptocurrencies, including Bitcoin, Ethereum, and Solana.

user avatarGiorgi Kostiuk
dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.