“Biokript’s hybrid model is the perfect solution for many centralized inefficiencies,” says Biokript’s founder, Adnan Alisic.
The first Shariah-compliant cryptocurrency trading platform in the world, Biokript, intends to transform and expand the cryptocurrency market. This blockchain-based platform promises to make consumers the owners of their crypto assets and prevent a failure similar to FTX, which resulted in billions of dollars in losses of customer funds.
The idea for Biokript was conceived in 2017 after the team learned about the inefficiencies of centralized crypto-trading platforms. The whole cryptocurrency movement started with a desire for decentralization where the middle-man is eliminated, and users are in full control of their funds. But most crypto trading is done on a centralized platform, which is not the most secure or efficient way to do business. There were fully decentralized exchanges, but due to slippage, they needed to be more efficient, safe, and affordable. Due to complete decentralization, anyone could produce a token that functions as a honeypot, rug pull, or outright scam. Users lost more than $2 billion to fully decentralized systems in 2022, which is the reason Biokript got its start.
Biokript’s main objective is to restore the entire cryptocurrency industry to its original purpose, which is to give users complete control over their crypto in a safe and secure decentralized manner while preserving their ability to trade effectively and with enough liquidity on a centralized platform.
The second objective is to provide Shariah-compliant cryptocurrency investing to millions of Muslims worldwide.
We inquired as to the origin of Biokript. What was the reasoning behind it?
Biokript was founded.in the true spirit of the cryptocurrency movement, where middlemen and centralized power are eliminated and consumers have complete control over their crypto. History bears witness that centralized cryptocurrency exchanges are inefficient and insecure. We had seen what happened with the centralized crypto exchange Quadriga. People entrusted their funds to a centralized platform, and they lost everything. Same thing with Celsius. Voyager. Babel Finance and many others. And just recently, FTX, one of the largest centralized cryptocurrency exchanges in the world, lost $10 billion of users’ funds, which was the main reason for the crypto crash. And this will keep happening until someone provides a solution. And that solution is Biokript.
Biokript is a non-custodial crypto exchange, which means they do not hold any funds. They allow traders to trade with the safety and security of a decentralized platform where they fully control their funds but with the efficiency and ease of a centralized platform. Their first target audience is those who have lost funds with centralized platforms or despise centralization. And the second group of people is Muslims worldwide who want to invest in crypto but are reluctant because of the Shariah-compliance issues.
“We are a blockchain-powered cryptocurrency platform which runs on a set of smart contracts where trades are executed. Unlike other centralized exchanges where people have to entrust their funds to a centralized entity, with
Biokript you can just connect your decentralized wallet where you have full control of your crypto and trade with a centralized efficiency.”
What makes Biokript different?
As Biokript is the world’s first hybrid, Shariah-compliant cryptocurrency platform and with us, all of our investors are our partners, where they are getting 50% of all the profits generated by our exchange based on Islamic Mudarabah, profit-sharing principles. All they have to do is hold our native BRKP token, and automatically they will get monthly profits distributed to their wallets. The crypto industry is still in its infancy. A few years ago, banks and other major institutions were speaking out against cryptocurrency, claiming that it was fraudulent and that no one should use it. But now we see all those big names entering the industry and trying to take the piece of the cake. So that tells you there is great potential here.
Because of all those centralized platforms’ failures, the team believes the whole crypto trading industry will shift to Biokript’s hybrid model. They know centralized exchanges can not be trusted. FTX is the perfect example. They also know that fully decentralized exchanges are filled with scam projects. Just in 2022, users lost over $2 billion to decentralized platforms. Therefore, a hybrid model is the answer. The transition could take five, ten, or even fifteen years. But ultimately, it will happen.
“We have a great and passionate team who fully believes in our project and we are working hard to make Biokript a great success. We also have a very passionate community that is very engaged with our project. The FTX failure where they lost $10 billion of users’ funds is a disaster for the crypto industry, but it is great news for Biokript because we are providing the solution for that exact problem.” - Biokript.
The crypto industry is constantly evolving. It all started with bitcoin. Then they have blockchain-powered smart contracts that started the Defi trend. And now, Web3 is the future, where they have a decentralized internet powered by blockchain technology which is out of reach of the giant tech companies or any government. And Biokript will be a big part of that future.
What do we have to say?
Biokript is a revolutionary new crypto trading platform set to revolutionize how people invest in digital currencies. It offers a wide range of features that make trading easier and more efficient, including advanced analytics tools, real-time updates, and automated trading strategies. The platform also has a user-friendly interface that makes it easy for beginners to get started. Biokript is designed to be secure and compliant with industry regulations, ensuring that users can trust the platform with their investments. With low fees, quick transactions, and a wide range of markets, Biokript is a great choice for anyone interested in crypto trading.
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