The leading Blockchain company HLC Technologies delivered research paper "The Genesis of Cryptocurrency in Islamic Economics: Shariah mind analysis"presented by Co-Founder & Islamic Economics expert, Prof. Abdussalam I. Onagun, at 2nd UUM International Conference on Islamic economics and finance, which brought together academicians, researchers, industry players and other stakeholders to exchange ideas and build network to further enhance growth and promote sustainability for Islamic Economics Ecosystem.
The conference is held in Kuala Lumpur Malaysia at Intercontinental Hotel between 4th-5th July 2018.
In the conference, Prof. Abdussalam has emphasized the Shariah position on the Cryptocurrency Asset. However, there are some issues with the conventional Cryptocurrencies which is not compliance with Shari'ah rules, mainly with Cryptocurrencies holding no physical intrinsic value. Islamic law recognized commodities with intrinsic physical value only to be considered as money, this is uniqueness of HLC tokens as it is back by HLC project on the Halal and healthy food traceability.
During the conference Prof. Asmadi M. Naim, Dean of School business has stress on important of collaboration between HLC Foundation and University Utara Malaysia (UUM)in area of Academic research, student internship in Blockchain and Global Islamic economics.
IBMC 2018 As a social impact of International Conferences, it emphasized the future of Cryptocurrencies Asset in Malaysian economy. HLC Foundation can incorporates essential philosophy of Blockchain in Islamic Economy with the latest cutting edge technologies with Malaysian government.