Launching our own cryptocurrency token. Our token Habibicoin is an asset backed cryptocurrency that is on the path of doing a 59 million usd ICO on 18th June 2018.
To meet the growing needs of our community we have to develop more customized, fine-tech solutions that address the faith first, the economics second, and the end user value and protection third. Through the creation of Habibi coin, our aim is to help break down barriers to entry in the market, address the high fee structures, and reduce risks for investors and individuals. We aim to create diversification, reduce intermediaries in the processes, create opportunities for multiple owner structures, and reduce foreign ownership barriers. We will reduce and remove interest and interest bearing products and services and introduce more religion conscious solutions. We will reduce long term loan structures which carry more risk and provide a strong sense of security. We will generate fractional ownership opportunities for billions of people who are often overlooked and underserved. These individuals will thus get an equal opportunity to participate in building wealth and investments for their families and future. Through extensive research of the current systems and markets, we feel Habibi coin is strongly positioned to disrupt the standard processes of home ownership, mortgage lending, real estate acquisition, real estate investment, and create more social philanthropic opportunities to provide economic relief and benefit to our communities. Solving the entire equation for all the industries and niches mentioned is not possible with one solution that fits every need but we can begin to provide a fresh perspective that can solve initial problems for our end consumers and users.
We are confident this will pioneer new ideas, concepts, and potential solutions that will begin to address the problems in multiple ways, eventually leading to progress. Islamic mortgages initially started out in the same way and the industry is currently worth over 2 trillion and growing at a 10-15% annual rate.