ZAMZAM Blockchain BANK Our future is for cryptocurrency
ZAMZAM Blockchain BANK Our future is for cryptocurrency
ZamZam represents a progressive system of fair financial acquiescents between individuals and organizations predicated on the Islamic banking model. Our principles: veracity, transparency, ease of avail and full control over mazuma for consumers. This decision was made possible thanks to the emergence of blockchain technology and the cryptocurrency market. Nevertheless, the main obstruction to the formation of a full-fledged ecosystem is the deficient number of cryptocurrency users and the involution of its use. ZamZam expanding ecumenical audience of users of cryptocurrencies, magnetizing mass that is not adherent technologies. ZamZam accommodation sanctions you to send cryptocurrency anywhere in the world, even if the recipient does not have a cryptocurrency wallet. To do this, simply enter the phone number to which the recipient will receive an SMS with a link to download the application.
After a simple sanction procedure and the authenticity of their identity, the utilizer will be able to manage the mazuma received. The accommodation is simple, transparent and democratic.
ZamZam is a transparent, fair and efficient blockchain Bank that amalgamates millions of people and organizations in the cryptocurrency market. This will give users the competency to control cash flow and taxation and sanction users to preserve millions of dollars on transactions while maintaining full control over their mazuma. Infelicitously, commissions on the payment market p2p remain quite high.
Currency conversion and high fees of banks and payment systems make p2p transfers unnecessarily sumptuous. Concurrently, 31% of the world's population does not have a Bank account. ZamZam will work to solve these quandaries, make p2p transfers as accessible as possible, and avail millions of people who don't have access to a fortified financial accommodations Bank account.
Zam.wallet is a secure, multi-functional wallet with a utilizer-cordial and functional interface. It plays a key role in the ZamZam ecosystem. ZamZam Bank will fortify most of the default cryptocurrencies, including Bitcoin, Ethereum (including ERC20 tokens) for all payment cognate features. This not only denotes that customers will be able to store and exchange these currencies, but additionally gives them the facility to keep balances on accounts linked to payment cards, sanctioning users to hold cryptocurrency just like conventional mazuma.
ABOUT THE MONSIEUR HIMSELF :NAMIG MAMEDOV.
Namig Mamedov — New technical advisor to Zamzam
Namig Mamedov is a businessman, patron and public figure who initiated a sizably voluminous number of regional, national and international projects. He made his way from a computer setup technician at Marko Computer Technologies to the chairman of the Board of the international Caspel holding. He worked as IBM representative in Azerbaijan. He is fluent in Turkish, Azerbaijani, Russian and English.
Namig Mamedov’s projects sanctioned to ameliorate the quality of the communication system in Azerbaijan, and today the majority of the country’s branch networks and verbally express institutions operate on the substructure of this network.
Under his leadership, decisions
Under his leadership, decisions were developed for the Tax Inspectorate of the Republic of Azerbaijan, including the initiation of a project to centralize and coalesce all tax reports on TIN(2002–2003),within which a private data transmission network was established along with AVIS, the first Automated Tax Information System in Azerbaijan(2004–2006).
Other projects:
2006 — Single Registration Window to simplify the process of registration of commercial enterprises;
2007 — project for the installation of a videoconferencing system covering all subjects of the Ministry of Taxes, regional divisions and departments;
2008 — electronic declaration system, thanks to which licit entities and individuals have been sending all of their declarations only in electronic form since 2008.
In subsequent years, Mamedov initiated more than 10 projects, which significantly ameliorated, first of all, the organization of work of state institutions of Azerbaijan, and withal made a paramount contribution to business development.
By the decree of the President of Azerbaijan on February 6, 2014, Namig Mamedov was awarded the Tereggi medal.
In Zamzam, Namig Mammadov is in charge of developing strategic partnerships that include the implementation of a tax hub, as well as fortifying the further magnification and development of Zamzam and its expansion into the Azerbaijani market, establishing contacts with the presidents of sundry companies, participating in key decisions, thus making an invaluable contribution to development of the project and contributing his astronomical experience to its development.
Zam.exchange
Zam.exchange is an astute currency conversion system that offers the most auspicious exchange rate without a spread (the spread is the distinction between the rate of purchase and the rate of sale). Zamzam is engendering a future, where people can access banking accommodations expeditiously, safely and without intermediaries. The zam.exchange module is integrated into the zam.wallet multicurrency wallet (you can learn more about the zam.wallet here).
Available exchange operations in zam.exchange include Fiat / Fiat, Cryptocurrency / Cryptocurrency, Fiat / Cryptocurrency, Cryptocurrency / Fiat.
How does the zam.exchange work?
The Zam.exchange connects to the most immensely colossal traditional forex trading platforms through a special software utilizing the FINE-TUNE protocol, the international standard for exchanging data between participants of exchange trades in authentic time. The Zam.exchange connects to most crypto exchanges through the open source Wrapper API, which was developed by the Zamzam team and sanctions users to automate the receipt of requests from exchange servers. The module is able to connect to the most immensely colossal platforms by interacting with them through a single interface and preserving maximum performance, security and flexibility.
The module works with Machine Learning with the following tasks:
Analysis of utilizer applications
Monitoring of a set of cryptocurrency and forex exchanges, connected by API
The Zam.exchange analyzes all utilizer requests and culls the most remuneratively lucrative platforms for performing sales operations with the lowest price for the utilizer. We will publish a separate Roadmap on how to utilize Machine
Islamic Banking.
Islamic banking is a financial system predicated on the principles of Shariah Law (licit Islamic provisions) and gregarious equity, equal income distribution, and the preclusion of inequitable enrichment and notional theorization. This definition might suggest that Islamic banking does have better responsiveness to clients’ fascinates than traditional banks. Integration with the cryptocurrency market has the facility to put it at the forefront of the modern banking sector. But first things first.
We propose to discuss in details Islamic banking principles, correlate it to other banking models and analyze its implementation by zamzam.
Is this an incipient era of financial relationships?
Islamic banking is not so widespread, but is being actively developed. In 2016, the total assets for Islamic banking were estimated at roughly $1,9 trillion. Concurrently, there are over 300 organizations doing business according to Islamic banking principles in more than 50 countries around the world. According to AlHuda-CIBE, the total volume of the Islamic financial market will reach $3 trillion by 2020, and its magnification rate is definitely higher than that of the traditional banking sector. Anyway, in many Muslim countries it is so.
The main differences from the Western banking system:
Ostracize on paying interest
Islamic banks do not charge interest (Riba) but they make mazuma in other ways. The fact is, they become a partner in a business that is going to take an imprest. There is no predetermined percent per loan that could be cognate to the value or other terms of lending. The bank analyzes a potential borrower’s business project and evaluates its perspectives. If the result is positive, then the bank becomes a partner of the borrower, thereby sharing the jeopardy with the client, and makes accedences about splitting of business’ incomes. If a business fails, then both the bank and the client bear the losses. Thus, the bank acts as an investor.
The principle of jeopardy sharing and incremented gregarious responsibility of Islamic banking correspond to developing an incipient type of economy called the sharing economy.
Preservation of acquiescents
According to the principles of Shariah Law, the execution of contractual obligations is indispensable for all parties to a transaction. This rule reduces the jeopardies for all participants.
Environmental cordiality of financial activities
Islamic banking precludes notional theorization and financial support of trade in tobacco, alcohol, weapons, etc. Any wagering and derivatives are precluded additionally, because they represent a major jeopardy.
The role of Blockchain
Islamic banking and blockchain have a degree of convergence, as Islamic ideology is predicated on fairness and transparency that meet the principle of decentralization. Blockchain technology has great advantages that could be subsidiary to the Islamic financial system. The most fascinating part of blockchain is the perspicacious contract that could contain the whole acquiescent between the Islamic bank and the borrower. Islamic banking could leverage these possibilities to enhance business processes and optimize operations due to the utilization of decentralized systems.
The merger of these systems would play a crucial role in boosting the Islamic financial sector. For instance, it could modernize licit documentation, reduce transaction processing times and costs for providers, as well as transaction fees.
zamzam and Islamic banking.
The implementation of the Islamic financial system is realized by zamzam through the zamzam fund, which undertakes the fortification of puerile professionals and Muslim convivial infrastructure development as its main goals. The zamzam fund is controlled by 12 apperceived Imams from all over the world.
The main quandaries the fund aims to solve are:
A crowdfunding platform for Islamic projects that will sanction any person to represent a gregariously consequential project approved by the Fund committee.
-Edification grants for adolescent Muslim professionals in the best universities of
Edification grants for puerile Muslim professionals in the best universities of the world.
Building of mosques, hospitals and schools that are culled by members of the Fund committee and ZAM Token holders.
Organization of paramount Muslim holidays.
Magnetizing patrons who have the opportunity to realize convivially consequential projects.
There is another way how zamzam could implement Islamic banking, one which demonstrates the ideology of the Islamic financial system. The fact is that the zamzam bank acquires movable and immovable property for a borrower who can be both an individual or licit entity, thereby sharing the jeopardy. In turn, a borrower acquires movable or immovable property from zamzam by installments. The price of the property contains the bank’s reward. According to this approach, the zamzam bank provides a client with mortgage loans, loans for the purchase of goods, etc.
zamzam is the first, or at least one of the first blockchain predicated projects implementing Islamic banking in the blockchain industry. This is a consequential step towards an astronomically immense future, where an intricate Islamic contract will be contained within an astute contract placed on the Blockchain.
Zam.wallet how it works
The Zam.wallet is a bulwarked, multipurpose wallet with a utilizer-amicable and functional interface.
It plays a key role in the Zamzam ecosystem by accommodating entities.
The main tasks of zam.wallet:
Generation of compulsory wallets (at first for cryptos and later for fiat mazuma) and its safe storage
Internal transfers between clients and withdrawal to external wallets
Currency conversion by a separate module that is integrated with zam.wallet
How does it work?
Zam.wallet can be utilized by users of Web, iOS and Android contrivances. During registration a utilizer types in his phone number and password. The utilizer engenders supplemental wallets for needed currencies, as indispensable. Encryption and decryption are provided only with utilizer passwords.
When sending a transfer, only a recipient’s phone number is needed. As an alternative, the utilizer could designate a crypto wallet address. If a recipient has not yet registered in Zamzam database, a unique hash link is engendered for such a utilizer. The utilizer gets an SMS that a current amount of mazuma has been transferred to him and he has to register in the system to get them.
What should a recipient do?
Install the application or go to the website
Register
A recipient will find the mazuma in the Utilizer
Account and can utilize them if the transfer amount is less than $200
Pass the KYC procedure (later, if the transfer amount is more than $200)
ZAM Token is the internal currency of the ZamZam Bank's blockchain, which is utilized to pay commissions for mazuma transfers, purchases of ZamZam banking products, etc.ZAM token is a standard ERC-20 token. tokens are issued in the initially declared volume, adscititious relinquishment of tokens is not provided.
• Blockchain platform: Ethereum
• Token standard: ERC-20
• Power token: 8 500 000 000 ZAM
• Token face value: $ 0.02
• Total amount OF Zam tokens for sale: 65%| 5 525 000 000 ZAM | $ 110,500,00 at face value
• Soft cover: $ 11 100,000
• Hard cap: $ 55 400 000
• Accepted cryptocurrencies: ETH, BTC, LTC
• Private sale period: June 18-December 3
• Bonus for participants pre-sale: 35%
• Pre-sale period: October 22 to November 5
• Bonus for participants pre-sale: 25%
• The duration of the TokenSale: November 5, December 3
• More detailed information can be obtained from the technical documentation of the project or ask questions in the main forum thread.
More info in:
Web: https://zam.io/en
Whitepaper: https://zam.io/ZamZam%20Whitepaper%20English%2020.08.18.pdf
One-Pager: https://zam.io/ZamZam%20One-Pager%20English%2020.08.18.pdf
Facebook: https://www.facebook.com/zamzambank
Twitter: https://twitter.com/zamzambank
Linkedin: https://www.linkedin.com/company/zamzambank/
Join the discussion: https://t.me/zamzamchat
Author: cryptohaha
My Bitcointalk Profile: https://bitcointalk.org/index.php?action=profile;u=2230372
Wallet address : GAUWMZ5G5TMCZPIHOG3Z6EK36R44HCRCBFO4WIECII6QI3IMD3KGC3MX