Background: Muslim Innovation & Philanthropy
Islamic Innovation: The House of Wisdom
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Islamic Innovation: The House of Wisdom
Last updated
From around the 8th to the 13th Century Islam experienced an explosive growth notably in its contribution to the areas of Mathematics, Economics and Science as well as a cultural explosion in the areas of arts and education. This is referred to as the Golden Age of Islam.
The word Algorithm has its roots with Persian mathematician for example. Interestingly enough the same person was instrumental in the based out of Baghdad around the 10th century.
Similarly, made critical contributions in the areas of Physical Science, Mathematics and Astronomy.
The zeitgeist of the era can be found in a variety of professional disciplines and physical reminders are concentrated in certain regions, and appear in many cultures globally.
This era is defined by progress through creativity, originality and innovation.
The characteristics from the Golden Age of Islam still exist in the pioneering spirit of its communities today, however this unified mindset and belief has not been able to be harnessed due to the state of technological advancements and developments up until the turn of the . At this point the and the gained traction and began the process of communication between communities across the globe.
On a more general events level, around 2009, and more specifically was introduced to the world, changing many paradigms and providing alternatives in ways previously impossible to achieve.
Most recently the concept of Decentralized Autonomous Organisations (DAOs) have emerged with a multitude of use cases, with possibly the most compelling use case being the DAO as an enabler to unite global communities with a common vision, in a and peer to peer manner.
In the context of Islam, this technology and the opportunities it reveals is stimulating the pioneering spirit of Muslims globally. Through the mindset and vision that our faith develops within us, Muslim Innovators are creating an economy for Muslims who subscribe deeply to the covenants of Islamic ethos. This human condition coupled with contemporary technology is building a platform for shariah compliant fintech innovation which could develop into a ‘’ of the Golden Age of Islam.
This is almost impossible to predict. The rate of development in the blockchain industry leads us to believe that this currently nascent technology will develop into something new, useful and significant.
There are many projects building financial solutions on the blockchain, currently stands at almost $1.1 trillion and steady growth is predicted in the years and decades to come. Many traditional finance (Tradfi) institutions and mindsets are being challenged by innovative, fast growing digital alternatives.
Takadao through its various divisions is challenging Tradfi institutions and mindsets by creating disruptive digital financial services offerings. One of which is the House of WisDAO (HoW) NFT project which is supported by Takadao’s Takalabs division.
Our DAO has as its objective to drive and support blockchain related innovation that has a positive societal impact and continue to do so for the longest possible time frame.
“” – Prophet Muhammad P.B.U.H
is a spectrum of activity, and these activities differ in their purpose and in the principles on which they operate. To fully understand philanthropy, it is vital to examine not only its purpose but its motive and outcomes. This identifies three types of philanthropy within this spectrum: Philanthropy as relief (zakat), which seeks to alleviate human suffering; philanthropy as an improvement (Endowments), which seeks to maximize individual human potential and is energized by a principle that seeks to progress individuals and their society; and philanthropy as reform (sadaqah), which seeks to solve social problems. Philanthropy as civic engagement seeks to build better community structures and services