Conventional insurance is impermissible for three reasons the first is due to the reason of river and interest why because if you paid a premium of let's say x and you receive y that is a concept of riba or it will also be information on the wages of our future uncertainty there's uncertainty because if you paid a particular premium Now for something to be delivered at a future date it could be that you could get a payout or not for example
Generally, we notice that a patriarch or the head of the business Works day and night they put their heart sweat, and toil into the business and build a very successful Empire only to find that because they haven't done proper succession planning once they pass on the entire Empire crumbles to the ground so what is the benefit of building such a huge Empire business Empire Financial Empire and that everything comes to the ground.
The first time that coins were used was in 600 BC by King Alyattes of Lydia based in Turkey so the modern form of turkey in the Eastern region of Turkey that King Alade started to use coins in 9000 BC you had a battle trade that was being conducted in one 118 BC that the Chinese started to use banknotes official banknotes in the 1950s we had Western Union that developed the use of electronic money or e-money.
What is money according to Sharia so the main features of money is that it is a strong value it is a unit of account a medium of exchange and a standard of deferred payment this is the main features of money money has acceptability meaning that it is accepted it is enforceable it is fungible it is divisible it is scarce it is portable and stable also so these are some of the fundamental elements of money in other words that there has to be a certain level of desirability of money itself if we have to call it money or a medium of Exchange
Blockchain is the underlying software technology and then you have the different nodes which are which refers to the peer-to-peer network of computers and as the network is validated or the nodes are valid are validated then a new block is created and that new block is now formed as part of the blockchain then this transaction is is com is concluded and complete, this is how a crypto transaction takes place