 and I have to attend or I have to come to these type of forums was when I started, after my Ph.D. in marketing, I started supervising one of my master students who came up with a proposal, with an idea of bitcoins and it was a new word for me, around one and a half year back, one year back. And he submitted, he successfully defended his master's thesis under my supervision, but till his degree, I was still asking him what is new in bitcoins, what is new in cryptocurrency. So that made me think about these new things, that made me feel like, yes, I should go back and connect back to that technology world. And another reason was, I started my venture, it was a consultancy firm, I started my venture two years ago and one of my students again approached me from Korea and he said that if I can be of any help, if I can make you work something in cryptocurrency, do let me know. And then I realized that, yes, there is something going on. So first aspect being a Muslim, the first aspect that I considered or I was most concerned was, is it legal, is it legal in Islam? So I have taken these pictures from downstairs and I hope all of you know this logo, we call it Halal and this is maybe there is, there is, else than me, there are some Muslims sitting here. So you know this word Halal, it is legal to use or legal to eat or legal to do this thing in Islam means Halal. So according to, and why this is important, why this Islamic perspective is important because it is the second growing religion and by 2050 it has said that Christianity and Islam will be of same, you can say same number. The philosophy of money in Islam, it is a different concept or it is a concept which is a little different from the traditional concept of money, traditional concept of banking as well. In Islam we say that we don't trade the, we don't trade money, but Bitcoin some people, they believe that it is trading of money. But now the conversion from that trading concept to using it legally to buy the things, using it as we have Bitcoin wallets. So this concept is now changing. There are different aspects, there are different views of different scholars here and now the story is changing toward the concept of risk. That if you think that there is a risk that is more important or there is a risk that is that the investors can understand then you should think about the word there is no Sharia objective, Sharia is the Islamic law. So there are no Sharia obligations or objections on the usage of Bitcoins. A little comparison, I am trying to finish it as soon as possible because I was given less time, I was given only 10 minutes so I am trying to be as quick as possible. This is a comparison between the conventional concept and the Islamic concept of money and the conventional concept say use money as a commodity while we, the Muslims we say that it is a medium of exchange and storage of value, we can exchange values against this concept. Time value is the basis for charging interest on capital, this is what conventional concept says and the Islamic concept says that we deal with the profit, we deal on profit with trade of goods and services. Interest is another factor which is considered important when we talk about the money so it is charged even in case the organization suffers losses in conventional way by using the banks funds and Islamic concept says that it operates based on profit or loss sharing that we don't always consider the profit side, we always have the loss side also in our systems in our Islamic banking systems. While disbursing cash finance, running finance or working capital finance, no agreement for exchange of goods or services is made in the conventional concept of money. While the Islamic concept says that the execution of agreements for the exchange of goods and services is necessary while disbursing funds under Murad Abbas, Alam and Istin Sa contracts. These are the Islamic contracts which we make when we are dealing with money. Conventional banks they use the money as a commodity which leads to inflation while the Islamic banking they tend to create the link with the real sectors of the economic system by using trade related activities and from those activities they generate the profit or they can also get into losses. According to the different Islamic leaders, whenever they give some decision on an issue it is called fatwa. So this word fatwa is again a kind of justification for doing something, justification for saying something is halal or not. Something is permissible or not. So we have different fatwas, we have fatwa from Turkish directorate of religious affairs, again from different scholars. He is one of the known scholars. It is permissible to use bitcoins, it is permissible to use bitcoins because of his changing nature. Because of his changing nature from firstly we were not able to buy something by using bitcoins. We were only trading the money and now that is changed and we can even exchange into commodity. There are even fatwas from Malaysian fatwa council, then we have Saudi cleric views also. I am skipping it just because of the time and I am not explaining them in detail. I want to come to the main point at the end. There are a few questions and in them the most important thing is the good side and the bad side of bitcoins. So there are some good sides which people they read out or they list down like it confirms with the probation of Reba, that is HUSERY, it incorporates principles of Masalah and Mutual Risk taking. Masalah is basically Mutual Risk taking. It can potentially be used as parallel currency with Fiat. It can potentially be used as hedging tune. So these are the good sides and the bad sides are that it is volatile and there is lack of bitcoin accepting merchants. Although this is changing, there are now more merchants which are accepting bitcoins. Two days ago I heard there are even ATMs installed in Hong Kong from where you can get cash against bitcoin or you can use that bitcoin. It has potential for abuse. There are cases in which it was reported that the bitcoin money is used for some illegal activities, even for money laundering, even for doing bad activities. This is what the research says. There is lack of regulatory body. There is no regulatory body against that cryptocurrency. And the reputation as a criminal currency. We hopefully know that there are many cases which report that this currency, bitcoins, they are used in some illegal activities also, in some criminal activities also. So the takeaway for Muslims interested to use bitcoins is that if you are informed enough to consider all the risks and rewards, feel free to buy, hold and use it. But if you think it is bad and you cannot outweigh the bads, outweigh the bads that I have just talked about, then don't use it. Bitcoin usage itself is Sharia compliant, that is the Muslim law and at least Fatwas did not declare it as impermissible. So this was how quickly I can go through my slides. I again apologize that because of my misunderstanding, I came almost 15 minutes late, but that was just a misunderstanding. Thank you very much. If there is anything, if there is any question, thank you. Thank you very much.