Can Bitcoin be used as a Currency
Can Bitcoin be used as a Currency?
Crypto assets can be used for currency it can be used for tokenizing, it can be used to record data they're completely valid for me it doesn't really make much sense if we say it doesn't exist because we're clearly seeing the movement we're clearly seeing record of ownership of something they clearly a person can use Bitcoin to buy things Bitcoin is being used in charity as well I mean in Ramadan some Charities were accepting Bitcoin payments in the world so clearly something that's being transferred clearly something is being used something is being given something is being received.
To say it doesn't exist or to say it's gambling or to say it's just numbers it doesn't make much you know it's not so accurate so the first opinion I don't really find accurate the second opinion which states that crypto assets are there but it can never be used as currency his debate is all about who has the right to issue a currency is it only the government yes the current construct works like that we have we as the people we have our governments representing us they manage all these Mantra Affairs the economic affairs.
Sharia perspective on Bitcoin as a Currency
From a Sharia perspective is it solely the right of the government the answer from a fake perspective I'm talking about now is that no people also like to off discussed a group of people they can amongst themselves in a network say I will pay you using this so for example if 10 people got together and said we will be using uh this particular phone everybody has its phone and this will be the means of payment they can do that okay so it's just a it's a social way of transferring value it's a social way it's a social network of transferring value yes however once the government gets involved a regulatory framework to be more stability and relates volatility less risks so it's really welcome that governments they take on the crypto space they give a regulatory framework we have the standard setting bodies out there to create standards around crypto assets and all these institutions that we need are needed to make a financial service run properly so that's welcome and inshallah it will bring greater transparency stability use and benefit for the crypto space.
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