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Showing posts from April, 2023

Gold benefits and its history

  Gold has been valued and used by humans for thousands of years, making it one of the oldest and most sought-after commodities. Here is a brief history of gold and its benefits to the common man in today's world.   History of gold: gold has been used by various civilizations since ancient times, and objects made of gold were used until about 4000 BC. The ancient Egyptians were one of the first civilizations to make heavy use of gold for jewelry and religious purposes, and the metal was highly valued in ancient times for its rarity and beauty. Gold was a means of payment and a store of value in the Middle Ages. The first gold coins were minted around 600 BC minted in Lydia (modern Turkey). and gold coins were used as currency by the Romans, Greeks, and other ancient civilizations. During the Renaissance, gold was prized for its decorative properties and used extensively in art.  In the 19th century, the gold rush in California, Australia, and South Africa led to a signifi...

Types of Digital Wallets

  A virtual wallet is a digital model of a real wallet that lets you shop and manage payment methods such as credit cards, debit cards, and bank accounts in a digital format. There are several benefits to using a digital wallet, including convenience, security, loyalty rewards, and integration with other financial management tools. benefits to using a digital wallet, including convenience, security, loyalty rewards, and integration with other financial management tools.  Digital wallets offer a convenient way to make purchases with just a few clicks or taps, eliminating the need to carry physical cards or cash from. They also use encryption and other security measures to protect users’ financial information and prevent unauthorized access, making it a secure payment management option. and other security measures to protect users’ financial information and prevent unauthorized access, making it a secure payment management option. Many digital wallets also offer rewards programs...

Islamic banking system and Sharia

  Sharia is a set of rules and guidelines governing Islamic societies derived from the teachings of the Qur'an and Hadith. These principles cover a wide range of aspects of life, including social, economic, and political issues. In the banking context, Sharia provides a framework for Islamic financial institutions to offer products and services that conform to Islamic principles. Islamic banking is based on the principles of Sharia, which prohibits charging or paying interest (riba) and engaging in speculative or unethical practices. Instead, Islamic banking uses a profit-sharing model in which the bank and the customer share the profits and losses associated with the investment or financing.  Islamic banking products and services are designed to be Sharia-compliant, which means they are organized and administered according to Islamic principles. For example, instead of offering traditional loans with interest, Islamic banks offer financing solutions based on co-ownership or j...

Non-fungible tokens (NFTs) in simple words

  Non-fungible tokens have become extremely popular in our world. NFTs are unique computerized property which might be shown by making use of blockchain technology. NFTs are used for a variety of purposes including digital art, music, video and even tweets. NFTs are becoming increasingly popular and their use cases are expanding rapidly. This blog examines what NFTs are, how they work, and their potential impact on different industries. What are NFTs? NFTs are virtual repositories proven by the use of blockchain technology. Unlike traditional cryptocurrencies like Bitcoin, which are fungible and tradable, each NFT is unique and cannot be replicated. cryptocurrencies like Bitcoin, which are fungible and tradable, each NFT is unique and cannot be replicated. NFTs are stored on the blockchain, meaning they cannot be modified or deleted, providing an extra layer of security. How do NFTs work? NFTs are created the use of clever contracts on a blockchain network. A smart contract ...