Welcome to the EBA – CAIZ Development!

by | Dec 20, 2022 | memberships, news | 0 comments

High fees, distrust in the financial system or a lack of adherence to ethical concerns – these are only a few reasons, why there are still millions of adults without a finance account worldwide. Our new member, CAIZ Development, has set out to help address this problem – with a cryptocurrency created in accordance with Islamic ethical finance principles. Welcome to the European Blockchain Association, CAIZ Development!

Founded in 2020 in Frankfurt, Germany, CAIZ Development is a EU-based crypto and blockchain-enabled decentralized finance (DeFi) provider offering a token called Caizcoin and an Islam-conformed blockchain solution . The blockchain offers transactions that follow the rules of Islamic law. In addition to that, it allows the trade of a token (based on ERC 20) and transfer features (real-time swaps including direct (real-time) wallet2wallet transfers via the Caiz Blockchain) on an ESG-friendly blockchain solution working with the federated Byzantine agreement.

Serving the unbanked and underbanked

“In the Middle East and Africa, 50% of the population is financially excluded, in South and Central America it is 38%, in Eastern Europe and the former Soviet republics 33%, and Asia Pacific’s share stands at 24%. Even in the USA, 22% of adults were underbanked or fully unbanked according to a report from 2019. And women account for most of the unbanked. We wanted to address this problem. With Caizcoin we provide easy access to financial services, while still being compliant with local jurisdiction laws, yet going a step further by being compliant with Islamic financial law”, Jörg Hansen, CEO at CAIZ Development explains. “It is important for us to be regulated in order to protect consumers and ensure the integrity of the market. “

Pro-regulation policies help to establish clear guidelines for the industry, which can increase confidence in the use of cryptocurrencies for transactions. By promoting responsible and transparent practices, pro-regulation policies can contribute to the overall stability and growth of the blockchain and crypto market.

Taking cultural aspects of finance into account

The name “Caiz” stems from Arabic and freely translates as lawful, trustworthy and legal. It generally refers to the ethical and moral rules found most prominently, though not exclusively, in Islamic religious beliefs. These underlying ethical rules are the foundation on which Caiz aspires to build its blockchain network and applications. The overarching goals, reflected in the design of the technology, are inclusion, fairness, charity and security.

“Finance is much more than technology and processes; it is a highly emotional topic that touches many aspects of culture and society. A project like the CAIZCoin is a great example showing that technology alone won’t solve any problems if we don’t factor in the human side. We are excited to have CAIZ Development in our community and being able to witness firsthand the further development of this project”, says Dr. Michael Gebert, Chairman of the European Blockchain Association.

“By joining the EBA,we as a blockchain development organisation can gain access to a network of like-minded individuals and organizations who are interested in blockchain technology and its potential applications. This can provide valuable opportunities for networking, collaboration, and the sharing of knowledge and expertise on the subject. Additionally, members of the EBA may have the opportunity to participate in policy discussions and shaping the direction of blockchain technology in Europe. Ultimately, joining the EBA is a way for us to support the growth and development of blockchain technology in Europe, and to be at the forefront of this exciting and rapidly-evolving field”, Jörg Hansen adds.