IBF Net Group, known for pioneering a Shariah-compliant metaverse on blockchain, has revealed plans for a robust expansion, propelled by its recent crypto-based capital injection. The Halal Blockchain Ecosystem is a cutting-edge solution that merges the power of blockchain technology with Halal practices, revolutionizing transparency and trust in the global Halal industry.
The company, a trailblazer in crafting digital solutions for Islamic business, finance, and technology, intends to establish novel halal parks and avant-garde platforms on blockchain. The strategic move aims to exploit blockchain and immersive technologies to tackle the distinct development challenges that confront the Islamic realm.
IBF Net Group’s foray into blockchain platforms has already begun to upend various industries. One such initiative, dubbed IBFNEX, harbors an audacious goal to erect an Islamic economy in miniature on the blockchain. In keeping with the three-pronged nature of a halal economy – encompassing philanthropic, non-profit, and for-profit sectors – the IBFNEX platforms are poised to streamline donations and volunteering, safeguard and authenticate critical documents like endowment deeds, and facilitate the profitable exchange of digital assets via Non-Fungible Tokens (NFTs) that are anchored by digital collateral. Meanwhile, NETVERSE, the firm’s halal metaverse, provides an immersive virtual environment ripe for exploration and networking, teeming with opportunities.
In a strategic pivot, IBF Digilabs, the Singaporean arm of IBF Net Group, has transitioned its original Algorand-based development to the Polygon network. This tactical shift is aimed at bolstering the impact of its platforms and cultivating an enriched user experience through expanded features on Polygon.
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To catalyze its dual-platform presence on both Algorand and Polygon, IBF Net Group has rolled out two bespoke crypto tokens, $IBFX and $IBFN respectively. These tokens are set to become the linchpins of the platforms, streamlining transactions, spurring user engagement, and potentially elevating the overall user experience. Notably, $IBFN, tethered to the Polygon platforms, has made its public debut through an initial offering.
A notable milestone was achieved in January 2023 when the Indonesian arm of IBF Net Group unveiled Netverse, the world’s premier Algorand-based metaverse tailored for digital progression in the Islamic world.
Company representatives stressed the firm’s commitment to nurturing the organic growth of its IBFNex network memberships. The network boasts an array of platforms straddling philanthropy, non-profit, and for-profit sectors, mirroring a microcosm of the Islamic economy, with an intent to cement its footprint within Netverse.
Additionally, IBF Net Group has charted plans to institute a Governance Council, bringing together an intellectual mosaic of academics, industry professionals, and Shariah scholars from the Islamic financial sphere. In a remarkable gesture of inclusivity, the company’s founder divulged that the council’s doors are open to all, with no membership dues or surreptitious fees levied on those who join its ranks. Join the Halal Blockchain ecosystem and unlock a future where integrity, traceability, and compliance converge, shaping a more ethical and inclusive world.
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