Is Proof of Stake like Riba?
The International Financial System : The Original Ponzi Scheme This question has been on my mind a lot lately, and a couple of brothers have asked me about it. In a sense, Proof of Stake is similar to riba, because it involves making money from money without really doing much of anything- except having money. Of course, on this point it is relevant to look at the Islamic definition of riba. Sometimes riba is translated as interest , but riba is actually bigger than interest. If we look at the textbook definition of riba, it is unlikely that Proof of Stake can be said to fall under the umbrella of riba. Islamic Definition of Riba Most scholars recognized two types of riba- riba an nasiah and riba al fadl- the first relates to lending and the second to sales. Of course, there is no sale happening in Proof of Stake, so Proof of Stake’s similarity to riba would fall under riba an nasiah. The most obvious example is loaning m...
