• Latest
Microfinance Firm Plans Issuance of Shariah-Compliant Blockchain Bonds

Microfinance Firm Plans Issuance of Shariah-Compliant Blockchain Bonds

October 26, 2018
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Business

Microfinance Firm Plans Issuance of Shariah-Compliant Blockchain Bonds

coinnewsdaily by coinnewsdaily
October 26, 2018
in Business
0
Microfinance Firm Plans Issuance of Shariah-Compliant Blockchain Bonds
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

An Indonesian financial firm is looking to put Sharia compliant bonds called sukuks on the blockchain to fund social projects.

Blossom Finance, a microfinancing platform for social causes using Sharia models, is planning to issue a blockchain-based sukuk in coming months, according to a Reuters report Wednesday.

While the size of the initial issuance may not be large, the use of blockchain tech is expected to lower issuance costs and attract more retail investors, chief strategy officer Khalid Howladar said at a recent Islamic accounting event, according to the report.

He explained:

“Technology allows you to on-board customers in a far cheaper way than you could ever do before. The sukuk would use a profit-sharing structure and carry a profit rate of around 10 percent.”

Unlike traditional bonds that are debt instruments with an interest component, sukuks are tradeable instruments based on a profit sharing model, much like stocks.

Blossom Finance also plans other blockchain-powered bonds to fund a green waste disposal project and a hospital expansion, the post adds.

The firm first introduced its “Smart Sukuk” platform in May to standardize and automate legal, accounting and payment aspects of the bonds. The platform utilizes ethereum smart contracts to “increase the efficiency and reach of sukuk issuance globally,” the firm said at the time.

Blockchain and smart contracts are seeing increasing attention in the bonds markets. A World Bank trial in August raised $81 million through its first blockchain-based bond.

Additionally, the city council of Berkeley, California, was seeking approval for its issuance of a blockchain-based microbond in May, as a way of funding local initiatives. And JPMorgan Chase in April partnered with National Bank of Canada and other major firms to trial a blockchain platform aimed to improve the debt issuance process.

The blockchain lead at National Bank of Canada said in a statement at the time that blockchain technology “has the potential to bring about major change in the financial services industry.”

Indonesian rupiah image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.



Credit: Source link

Tags: BusinessCryptoCrypto Business
Share76Tweet48
Previous Post

IBM’s New Blockchain Problem: Maersk-Backed Shipping Effort Is Struggling

Next Post

CFTC Commissioner Cites CryptoKitties, Dogecoin When Talking DLT Uses

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin
Alt Coin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?
Alt Coin

What is the future of Ethereum (ETH)?

April 22, 2022
Load More
Next Post
CFTC Commissioner Cites CryptoKitties, Dogecoin When Talking DLT Uses

CFTC Commissioner Cites CryptoKitties, Dogecoin When Talking DLT Uses

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$23,127.000.79%
  • ethereumEthereum(ETH)$1,599.810.63%
  • tetherTether(USDT)$1.000.06%
  • binancecoinBNB(BNB)$308.672.00%
  • rippleXRP(XRP)$0.4141591.67%
  • cardanoCardano(ADA)$0.3960445.24%
  • dogecoinDogecoin(DOGE)$0.0880422.63%
  • matic-networkPolygon(MATIC)$1.154.92%
  • solanaSolana(SOL)$24.632.62%
  • okbOKB(OKB)$36.401.54%
  • polkadotPolkadot(DOT)$6.623.39%
  • shiba-inuShiba Inu(SHIB)$0.0000122.23%
  • litecoinLitecoin(LTC)$88.781.93%
  • tronTRON(TRX)$0.0634932.63%
  • daiDai(DAI)$1.000.11%
  • cosmosCosmos Hub(ATOM)$13.756.05%
  • chainlinkChainlink(LINK)$7.475.31%
  • leo-tokenLEO Token(LEO)$3.875.88%
  • moneroMonero(XMR)$180.586.27%
  • ethereum-classicEthereum Classic(ETC)$22.111.68%
  • bitcoin-cashBitcoin Cash(BCH)$135.481.66%
  • stellarStellar(XLM)$0.0934892.27%
  • crypto-com-chainCronos(CRO)$0.0823192.62%
  • filecoinFilecoin(FIL)$5.451.98%
  • algorandAlgorand(ALGO)$0.2610576.72%
  • vechainVeChain(VET)$0.0249164.78%
  • internet-computerInternet Computer(ICP)$6.065.38%
  • aaveAave(AAVE)$87.990.72%
  • eosEOS(EOS)$1.121.68%
  • elrond-erd-2MultiversX(EGLD)$45.084.02%
  • theta-tokenTheta Network(THETA)$1.116.52%
  • tezosTezos(XTZ)$1.144.88%
  • paxos-standardPax Dollar(USDP)$1.000.17%
  • bitcoin-cash-svBitcoin SV(BSV)$44.43-2.13%
  • huobi-tokenHuobi(HT)$5.050.82%
  • havvenSynthetix Network(SNX)$2.557.34%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.022.45%
  • iotaIOTA(MIOTA)$0.2449656.62%
  • makerMaker(MKR)$677.733.30%
  • zcashZcash(ZEC)$46.831.46%
  • neoNEO(NEO)$8.362.86%
  • dashDash(DASH)$51.992.61%
  • zilliqaZilliqa(ZIL)$0.0303489.26%
  • basic-attention-tokenBasic Attention(BAT)$0.2718565.27%
  • compound-governance-tokenCompound(COMP)$57.438.33%
  • nemNEM(XEM)$0.0400784.27%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$37.369.41%
  • bitcoin-goldBitcoin Gold(BTG)$17.70-3.50%
  • qtumQtum(QTUM)$2.734.25%
  • wavesWaves(WAVES)$2.7114.67%
  • sushiSushi(SUSHI)$1.353.95%
  • golemGolem(GLM)$0.2534623.44%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • yearn-financeyearn.finance(YFI)$7,693.282.79%
  • omisegoOMG Network(OMG)$1.524.34%
  • ontologyOntology(ONT)$0.2232693.66%
  • digibyteDigiByte(DGB)$0.0111601.64%
  • umaUMA(UMA)$2.061.15%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%