IBFx is being designed to be the crypto currency of the virtual Islamic Business and Finance Network. In phase I during the process of building up the virtual network, IBFx would be a closed-loop virtual currency used for payment in intra-network transactions.
As the network would grow stronger leading to an increase in volume of intra-network transactions, this would steadily enhance the “intrinsic value” of the currency. Given the closed-loop nature, it will be unregulated.
At a cut-off level of fundamental value, and as more legal environments permit open virtual currencies, IBFx would be converted to an open crypto, regulated, and a legal tender.