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ETH/USD $ 1796.60
LTC/USD $ 92.39
DASH/USD $ 44.41
DOGE/USD $ 0.07324
FIL/USD $ 4.45
ADA/USD $ 0.3676
USDT/USD $ 1.00
SHIB/USD $ 0.00000866
HOLO/USD $ 0.003566
BTT/USD $ 0.00000060
WINK/USD $ 0.0001995
YFI/USD $ 6739.04
PAXG/USD $ 1995.93
MKR/USD $ 630.44
BCH/USD $ 117.30
WBTC/USD $ 26739.6
COMP/USD $ 35.00
AAVE/USD $ 62.48
ZEC/USD $ 33.10
ICP/USD $ 5.19
TRB/USD $ 11.87
ETC/USD $ 18.36
NMR/USD $ 13.50
BAL/USD $ 5.42
LINK/USD $ 6.62
REP/USD $ 6.88
UNI/USD $ 5.15
ATOM/USD $ 10.78
UMA/USD $ 2.12
SNX/USD $ 2.18
SUSHI/USD $ 0.8944
BAND/USD $ 1.47
EOS/USD $ 0.8928
OMG/USD $ 0.8033
RLC/USD $ 1.56
MIR/USD $ 0.05600
BNT/USD $ 0.4149
XTZ/USD $ 0.8899
CGLD/USD $ 1.74
1INCH/USD $ 0.4109
CRV/USD $ 0.8177
KNC/USD $ 0.6039
ENJ/USD $ 0.3523
MATIC/USD $ 0.8601
STORJ/USD $ 0.3080
ZRX/USD $ 0.2240
ALGO/USD $ 0.1679
GRT/USD $ 0.1221
OGN/USD $ 0.09479
CTSI/USD $ 0.1985
MANA/USD $ 0.5062
BAT/USD $ 0.2212
DAI/USD $ 1.00
USDC/USD $ 0.9998
REN/USD $ 0.07770
XLM/USD $ 0.08778
NKN/USD $ 0.09859
OXT/USD $ 0.06790
LRC/USD $ 0.2967
SKL/USD $ 0.03220
CVC/USD $ 0.08861
SAND/USD $ 0.5290
NU/USD $ 0.1500
GNT/USD $ 0.00000001
DNT/USD $ 0.02720
ANKR/USD $ 0.02588
LOOM/USD $ 0.05156
AMP/USD $ 0.002960
MANY/USD $ 0.3509
WTK/USD $ 0.02170
POSI/USD $ 0.02355
WINR/USD $ 0.00003100
DEFT/USD $ 0.00002080
ISA/USD $ 0.0001070
RULER/USD $ 0.006669
SPORE/USD $ 0.9137
DEFLCT/USD $ 0.7343
HVE/USD $ 0.0004395
JCB/USD $ 0.00004900
FWC/USD $ 0.00000000008000
FDC/USD $ 0.00000021
YETI/USD $ 0.003856
SMR/USD $ 0.06492
STEPHEN WEBB 16 Jul, 2018 Bitcoinist.com Views: 445
After announcing in early May that it would begin accepting cryptocurrency Sadaqah (donations), the Shacklewell Lane Mosque collected a staggering 13,983 GBP in digital currency during Ramadan.
The Turkish-run mosque in Hackney, East London initiated its plan to accept cryptocurrency earlier this summer, becoming the first in the country — and one of only a few in the world — to take digital currency as a form of donation.
The Mosque partnered with London-based blockchain startup Combo Innovation, which specializes in Islamic finance. CEO Gurmit Singh worked with mosque chairman Erkin Guney to advise on matters of cryptocurrency collection, storage, and security.
Over the 30 days of Ramadan, the mosque received 24 donations from across the globe — totaling almost 14,000 GBP. In comparison, its cash donations amounted to only 3,460 GBP. Erik Guney told the inews.co.uk:
Many people at the mosque were initially skeptical about us accepting this new money, but the fact we received four times more in cryptocurrency donations shows how important it is to be open to these new digital currencies.
With the success of the mosque’s cryptocurrency adoption, Gurmit Singh hopes that other mosques and charities will follow its lead and take advantage of the opportunities this new revenue stream provides.
Islamic leaders throughout the world have continued to question if cryptocurrency is a permissible practice.
The Mufti of Egypt has spoken out against it, expressing concern over its anonymity — an anonymity that has linked bitcoin and other cryptocurrencies with the purchasing of drugs and other illegal items online.
Similarly, the Turkish Directorate of Religious Affairs has stated that:
Buying and selling virtual currencies is not compatible with religion at this time because of the fact that their valuation is open to speculation, they can be easily used in illegal activities like money laundering and they are not under the state’s audit and surveillance.
Despite that, more and more religious organizations are adopting the usage of cryptocurrencies.
In January, an evangelical church in Zurich, Switzerland began accepting bitcoin as a form of tithing from its parishioners. The church spokesman, Nicholas Legler explained that— be it bitcoin or other state-controlled digital currencies — this technology would soon be apart of everyone’s daily life. The relatively young congregation at the church was working to stay ahead of these advancements.
The Catholic church has announced its own plans to utilize blockchain technology to help run various processes of the church and provide financial inclusivity for the unbanked population.
What do you think about the donations collected by the Shacklewell Lane Mosque? The role of cryptocurrencies within religious organizations? Let us know in the comments below!
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