Sidra Chain is a blockchain platform designed for Shariah-compliant financial transactions, offering fast and transparent deals without intermediaries.
Islamic Finance Principles on Blockchain
Sidra Chain's operations are based on Shariah compliance, prohibiting interest (riba) and investments in banned industries. It offers Islamic financial products like Sukuk and Murabaha. The blockchain ensures transparency and auditability by recording all transactions publicly.
Main Components of the Sidra Ecosystem
The ecosystem includes the Sidra Chain Network, Sidra Coin (SDA), and Sidra Bank. Key technical features include smart contracts and KYC integration. Sidra Coin is used for network transactions, mining rewards, and service payments. Sidra Bank provides Shariah-compliant digital financial services.
Practical Applications of Sidra Chain Technology
Sidra Chain offers solutions for cross-border payments, halal supply chain management, and Shariah-compliant fundraising. It allows direct transfers and tracks halal products through blockchain for transparency and adherence to standards.
Sidra Chain is a crucial development in merging Islamic finance with blockchain, ensuring transparent and efficient business transactions following Shariah principles.
