Marriage is an extremely important part of life in the Islamic world. For over 1.8 billion Muslims worldwide, marriage is something most will go through at some point in life. Islamic marriage comes with significant financial implications, as the husband is expected to contribute financially to the marriage in the form of dower. This financial management of marriage can be performed more efficiently on the blockchain through Islamic DAO.
Islamic DAO enables you to commit to an Islamic marriage with all the security of blockchain enforced smart contracts. A Smart Marriage is a type of smart social contract that enables a husband to pay a financial gift or dower (also known as Mehr) as a token of committment and appreciation, and to securely lock the dower for his wife. This can be released with mutual consent at any time based on twin approval by the husband and wife. Blockchain secured mehr or Islamic dower can breathe new life into a marriage, and encourages couples to pool funds and create the necessary financial foundation for a happy and successful new generation.
Islamic DAO's Smart Marriages represent a unique innovation based on Islamic marriage contracts and dowers that have stood the test of time, and are the next step in the evolution of the global family structure. Smart Marriages are one of the most innovative applications of smart social contracts - smart contract technology applied to social interactions between people within a financial setting. You don't even have to be Muslim to avail the benefits of a Smart Marriage - any couple can do it safely and security using their favourite crypto wallet.
Marriage Financing allows supporters of a couple (such as family and friends) to provide funds for their marriage or future life together. This fund can be used by the married couple after the marriage is solemnised. All you need to commit to an Islamic marriage is the partners, their wallets, and some ETH or BNB to pay. Marriage financing by supporters is optional.
Islamic Marriages through Islamic DAO will be available soon on Ethereum and compatible blockchains.