By using public blockchain technology, we're able to provide an audit trail of all the activity within our network whilst offering tamper-proof self executing smart contracts that can help to automate certain processes and in-turn radically reduce the cost and burden of managing internal infrastructure.
All of our products and services work with a physical network of registered and regulated trusts (Waqf) that have been setup for various companies. This allows us to work closely with those that are currently underserved or unbanked.
Our Smart Contracts are based on protocols that are built on the founding principles of Islamic Finance. This allows us to govern the relationship between end beneficiaries and stakeholders in a transparent manner.
The biggest problem we wanted to solve was in removing the human based agents (Wakalah) that currently provide inefficient expensive processing fees with automated smart contract agents that never sleep and are unable to cheat, lie or steal things.
As one of six finalists at the UNCDF Accelerator that is sponsored by the central bank of Malaysia and Metlife Insurance - our technology is currently being used to develop tools that will allow for Zakat agencies to provide free insurance to those that are unable to afford or apply for traditional coverage.
The first step to delivering financial services to the unbanked requires the use of digital self-sovereign identities.
Our platform uses globally recognised standards for both fungible tokens as well as unique non-fungible assets.