Adam Mustapha, COO of Bayan Token, will be speaking at the Blockchain Investment Technology Conference in Dubai next week. Simon Cocking caught up with him to discuss his business ventures and what makes a cryptocurrency Shariah-compliant.
1 min pitch for what you are doing now?
We are at the pre-ICO stage of selling our Bayan Token, a Shariah-compliant utility token based on ECR20. Proceeds from the ICO will be utilised to fund three main projects, namely the Shariah-compliant Artificial Intelligence Equity Trader (AiET), expansion of the Halal mart and the production and commercialisation of Basella Alba leaf extract as a health supplement. Besides that, each and every token is backed by a 16-hour access to a private cloud server, making Bayan Token an investment worth every cent, i.e. purchaser of Bayan Token will at least get something out of their purchase, even in the worst case scenario where the price of Bayan Token drops.
What are your plans for the future?
We would like to further develop the AiET so that it can cover various stock exchanges all over the world. For the expansion of the Halal mart, we envision to have 1,000 stores or more across Malaysia and other SEA countries such as Singapore, Indonesia and Brunei. We will also work towards commercialising the Basella Alba leaf extract to the point that it will be the preferred alternative to Statin in hospitals and widely available in pharmacies.
What will you be talking about at this event?
What makes a cryptocurrency shariah-compliant; features and parameters. We’ll also talk about why there are so many misconceptions surrounding cryptocurrency and blockchain that lead some scholars to opine it as haram and why the ever-growing Muslim population across the globe is a huge potential market for a shariah-compliant crypto.
What inspired you to attend it?
Dubai is undoubtedly the financial and technology hub in the MENA region. We don’t want to miss the opportunity to market our product in Dubai which we are confident is appealing to the investors here. We would also want to encourage people to invest in good (our Shariah-compliant token) so that more goodness will come back to them.
Which influencers and websites do you follow to keep up to date with the latest developments?
We usually go to CCN, Coin Telegraph, coin.my and a few other websites.
How can people find out more about what you are working on?
They can check it out at www.bayantoken.com