At the World Blockchain Forum 2018, in Moscow (26th April). FINTERRA showcased as a true Social Solution for Blockchain.
Topic: [ANN] Finterra : The Social Solution for Blockchain - page 2. (Read 503 times)
At the World Blockchain Forum 2018, in Moscow (26th April). FINTERRA showcased as a true Social Solution for Blockchain.
FINTERRA signs with PALMEX Exchange for listing in Middle East
Finterra aims to put Waqf/Endowments on the blockchain, imagine if money didn't need to be squandered, money that was supposed to be used for charity. This could be the game changer we need in the endowment sector as it will bring about the transparency of transactions which can avoid misappropriation of funds by project managers, endowment managers, and stakeholders as well. The transparency will also allow the public to regulate the projects and call out any discrepancies they find in project proposals. Finterra also plans on having a loyalty point exchange that allows users to trade loyalty points for other points, therefore not limiting users' loyalty points to only one brand or company but allowing them to freely use it within our E-cosystem which will have vendors and services like flights & hotel bookings, utility bill payments, telco top-ups, and so much more.
Not to mention that Finterra will feature an open source developers environment complete with an easy to use GUI with will allow even the layman to make their own smart contracts, therefore allow the ease of use for endowments and business smart contracts. Finterra doesn't just plan on changing the business industry but rather bringing the old world into the new one beginning with the endowment sector. Finterra already has over 70,000 users on their ecosystem.
Not to mention that Finterra will feature an open source developers environment complete with an easy to use GUI with will allow even the layman to make their own smart contracts, therefore allow the ease of use for endowments and business smart contracts. Finterra doesn't just plan on changing the business industry but rather bringing the old world into the new one beginning with the endowment sector. Finterra already has over 70,000 users on their ecosystem.
How does this project compare to ArabianChain who are developing blockchain solutions for government and enterprise use in the middle east?
can you describe to me about the focus and purpose of this project. thank you
I also have the same question into my mind what is purpose of this project and how could they make involve the community into this project. They are planning to launch ICO or directly put this token to exchanges still nothing clear about that.
Please have a look at our corporate video and sites, we are essentially a platform that allows people to crowdfund endowment projects & create their own smart contracts through an intuitive easy to use GUI/developers environment, loyalty points exchange, global crypto Exchange Integration and Blockchain integration(through COSMOS).
Too much text but I still can't understand what do we need your project for
Please do check out our corporate video.
https://www.youtube.com/watch?v=BSYDYOmJrdo
can you describe to me about the focus and purpose of this project. thank you
I also have the same question into my mind what is purpose of this project and how could they make involve the community into this project. They are planning to launch ICO or directly put this token to exchanges still nothing clear about that.
can you describe to me about the focus and purpose of this project. thank you
Too much text but I still can't understand what do we need your project for
Decoding Modern Waqf : A Social Blockchain Solution for Saudi Arabia
There has been a gradual realization of Waqf as a pertinent tool that has the potential to enhance economic, financial, social and other aspects of human life. Waqf has taken place in many Islamic countries for centuries and as in definition, Waqf is the holding of one’s property and preserving it for confined benefits of certain philanthropy with no divergence.
A new venture aims to use blockchain technology to modernize the management and investments of Waqf , that would tap into a vast but underutilized pool of assets across the Muslim world.
Singapore-based financial technology company Finterra has developed a platform that is socially, economically and, morally viable for the global development of Endowment (Waqf ) assets, via crowdfunding, and under the privy of regulatory compliances.
“Finterra’s Blockchain solution is developing and growing, we are finding new and innovative ways of using our BlockChain platform to implement new solutions in various business lines. But our main aim is to re-invigorate and bring a solution to the 800 year old problem of Waqf . Through our platform we will make it easier for Land/Property Trustees, Waqf Boards and even individuals to develop and realise monetary values on their assets that will benefit the communities and societies that the Waqf was intended for,” said Hamid Rashid, Founder and CEO of Finterra, who will also be speaking at Decoding Blockchain KSA this April.
Waqf in Saudi Arabia is well organized across the public and private sectors generally; yet, this organized structure of Waqf does not keep pace with the growing and diversified nature of Waqf as a whole sector which requires reconsideration of the managerial aspects of Waqf in Saudi Arabia.
According to the Awqaf Board in Saudi Arabia there are approx 124,000 Waqf properties and land parcels in the country, and a BlockChain platform could help develop, re-develop and build new projects using Shariah compliant Smart Contracts.
The Waqf Blockchain solution can give users financial freedom by making transactions more efficient and transparent. Users in their ecosystem are able to use their platforms for a range of activities like utility payments, telco top up purchases and flight and hotel bookings, all at a discounted rate. Finterra’s fully inclusive financial platform that aims to bridge the gap between consumers and providers, offers the world’s first borderless blockchain driven, zero fee cloud based platform.
“The Waqf BlockChain solution is really a first, we have spent a lot of time and consultation with various Waqf Boards and experts in Waqf & Shariah to create a solution that will work and more importantly be Shariah compliant,” added Hamid Rashid.
He firmly believes that blockchain solutions are definitely the way forward with regards to Waqf management and that its efficiency, transparency, and cost effectiveness will benefit the society at large.
In light of these developments, Bizwingz Production House is hosting Saudi Arabia’s very first blockchain conference, Decoding Blockchain KSA 2018. The conference offers unique networking opportunities for attendees to connect with Fintech and Blockchain industry leaders and innovators who are looking to explore the distributed ledger technology, while providing an ideal platform to understand the promising technology of Blockchain in the modern Middle East world.
The conference offers VCs, bankers, government officials, payment companies and more the opportunity to not only actively exchange information but to also establish powerful strategic alliances.
The conference will present a range of speaker sessions through which participants are given the opportunity to meet with innovators who offer business solutions that will help banks and financial institutions reduce costs and improve efficiency and integrity.
Come watch the best minds in the blockchain industry from across the pan-Saudi region, as well as the rest of the world, convene on a single platform on the 23rd and 24th of April, 2018 at (venue).
Registrations are open – Ensure your participation for the ultimate knowledge-sharing conference at the earliest.
Register Your Interest (http://www.decodingblockchain.com/)
Feel free to reach out to the below contact for further discussion concerning your attendance at the conference.
Source
http://www.eyeofdubai.ae/news/details/decoding-modern-waqf-a-social-blockchain-solution-for-saudi-arabia
There has been a gradual realization of Waqf as a pertinent tool that has the potential to enhance economic, financial, social and other aspects of human life. Waqf has taken place in many Islamic countries for centuries and as in definition, Waqf is the holding of one’s property and preserving it for confined benefits of certain philanthropy with no divergence.
A new venture aims to use blockchain technology to modernize the management and investments of Waqf , that would tap into a vast but underutilized pool of assets across the Muslim world.
Singapore-based financial technology company Finterra has developed a platform that is socially, economically and, morally viable for the global development of Endowment (Waqf ) assets, via crowdfunding, and under the privy of regulatory compliances.
“Finterra’s Blockchain solution is developing and growing, we are finding new and innovative ways of using our BlockChain platform to implement new solutions in various business lines. But our main aim is to re-invigorate and bring a solution to the 800 year old problem of Waqf . Through our platform we will make it easier for Land/Property Trustees, Waqf Boards and even individuals to develop and realise monetary values on their assets that will benefit the communities and societies that the Waqf was intended for,” said Hamid Rashid, Founder and CEO of Finterra, who will also be speaking at Decoding Blockchain KSA this April.
Waqf in Saudi Arabia is well organized across the public and private sectors generally; yet, this organized structure of Waqf does not keep pace with the growing and diversified nature of Waqf as a whole sector which requires reconsideration of the managerial aspects of Waqf in Saudi Arabia.
According to the Awqaf Board in Saudi Arabia there are approx 124,000 Waqf properties and land parcels in the country, and a BlockChain platform could help develop, re-develop and build new projects using Shariah compliant Smart Contracts.
The Waqf Blockchain solution can give users financial freedom by making transactions more efficient and transparent. Users in their ecosystem are able to use their platforms for a range of activities like utility payments, telco top up purchases and flight and hotel bookings, all at a discounted rate. Finterra’s fully inclusive financial platform that aims to bridge the gap between consumers and providers, offers the world’s first borderless blockchain driven, zero fee cloud based platform.
“The Waqf BlockChain solution is really a first, we have spent a lot of time and consultation with various Waqf Boards and experts in Waqf & Shariah to create a solution that will work and more importantly be Shariah compliant,” added Hamid Rashid.
He firmly believes that blockchain solutions are definitely the way forward with regards to Waqf management and that its efficiency, transparency, and cost effectiveness will benefit the society at large.
In light of these developments, Bizwingz Production House is hosting Saudi Arabia’s very first blockchain conference, Decoding Blockchain KSA 2018. The conference offers unique networking opportunities for attendees to connect with Fintech and Blockchain industry leaders and innovators who are looking to explore the distributed ledger technology, while providing an ideal platform to understand the promising technology of Blockchain in the modern Middle East world.
The conference offers VCs, bankers, government officials, payment companies and more the opportunity to not only actively exchange information but to also establish powerful strategic alliances.
The conference will present a range of speaker sessions through which participants are given the opportunity to meet with innovators who offer business solutions that will help banks and financial institutions reduce costs and improve efficiency and integrity.
Come watch the best minds in the blockchain industry from across the pan-Saudi region, as well as the rest of the world, convene on a single platform on the 23rd and 24th of April, 2018 at (venue).
Registrations are open – Ensure your participation for the ultimate knowledge-sharing conference at the earliest.
Register Your Interest (http://www.decodingblockchain.com/)
Feel free to reach out to the below contact for further discussion concerning your attendance at the conference.
Source
http://www.eyeofdubai.ae/news/details/decoding-modern-waqf-a-social-blockchain-solution-for-saudi-arabia
An Article by Reuters
https://www.reuters.com/article/us-islamic-finance-fintech/blockchain-venture-aims-to-modernize-islamic-endowments-idUSKBN1FW0C8
Blockchain venture aims to modernize Islamic endowments
SYDNEY (Reuters) - A new venture aims to use blockchain technology to modernize the management and investments of Islamic charitable endowments, called waqf, that would tap into a vast but underutilized pool of assets across the Muslim world.
Singapore-based financial technology company Finterra has developed a crowdfunding platform that uses digital ledger technology, or blockchain, to create “smart contracts” that would be tied to specific waqf projects, said Finterra founder and Chief Executive Officer Hamid Rashid.
The firm hopes this can provide a more efficient way to raise money, manage and transfer ownership of waqf, which receive donations from Muslims to operate social projects, such as mosques, schools and welfare schemes.
“We are trying to change the financial terrain in its approach to crowdfunding and development of waqf,” said Rashid in a telephone interview.
Finterra’s plans reflects the interest that a number of fintech companies have in broadening their footprint to include core Islamic finance markets in the Middle East and Southeast Asia.
The company started developing its blockchain platform in October, with pilot projects currently being studied from endowments in Singapore, Malaysia and Indonesia, said Rashid.
“By June we hope to have the product fully up and running and we can then start onboarding clients. We can then promote to global waqf boards and to regulators.”
The firm will host a forum in Kuala Lumpur, the capital of predominately Muslim Malaysia, next month to discuss the applications of blockchain for waqf, having attracted interest from waqf bodies in Brunei and India.
Islamic endowments are believed to hold large portfolios of real estate, commercial businesses and other assets, with an estimate of as much as $1 trillion of assets held in waqf globally.
The waqf concept dates back more than a thousand years, reaching its heyday during the Ottoman empire.
But, the assets in many waqf are underutilized and earn low returns because of ineffective management, with some waqf requiring further donations to keep running.
Donations must be pledged to specific goals making it difficult to repurpose a waqf, limiting fundraising from banks which can find it difficult to liquidate such assets.
The use of blockchain could address this by tracking each contract electronically across the lifespan of the investment, said Rashid.
A potential waqf project being currently studied involves the redevelopment of a school in Jakarta, Indonesia, into a commercially-viable property, he added.
Reporting by Bernardo Vizcaino; Editing by Christian Schmollinger
https://www.reuters.com/article/us-islamic-finance-fintech/blockchain-venture-aims-to-modernize-islamic-endowments-idUSKBN1FW0C8
Blockchain venture aims to modernize Islamic endowments
SYDNEY (Reuters) - A new venture aims to use blockchain technology to modernize the management and investments of Islamic charitable endowments, called waqf, that would tap into a vast but underutilized pool of assets across the Muslim world.
Singapore-based financial technology company Finterra has developed a crowdfunding platform that uses digital ledger technology, or blockchain, to create “smart contracts” that would be tied to specific waqf projects, said Finterra founder and Chief Executive Officer Hamid Rashid.
The firm hopes this can provide a more efficient way to raise money, manage and transfer ownership of waqf, which receive donations from Muslims to operate social projects, such as mosques, schools and welfare schemes.
“We are trying to change the financial terrain in its approach to crowdfunding and development of waqf,” said Rashid in a telephone interview.
Finterra’s plans reflects the interest that a number of fintech companies have in broadening their footprint to include core Islamic finance markets in the Middle East and Southeast Asia.
The company started developing its blockchain platform in October, with pilot projects currently being studied from endowments in Singapore, Malaysia and Indonesia, said Rashid.
“By June we hope to have the product fully up and running and we can then start onboarding clients. We can then promote to global waqf boards and to regulators.”
The firm will host a forum in Kuala Lumpur, the capital of predominately Muslim Malaysia, next month to discuss the applications of blockchain for waqf, having attracted interest from waqf bodies in Brunei and India.
Islamic endowments are believed to hold large portfolios of real estate, commercial businesses and other assets, with an estimate of as much as $1 trillion of assets held in waqf globally.
The waqf concept dates back more than a thousand years, reaching its heyday during the Ottoman empire.
But, the assets in many waqf are underutilized and earn low returns because of ineffective management, with some waqf requiring further donations to keep running.
Donations must be pledged to specific goals making it difficult to repurpose a waqf, limiting fundraising from banks which can find it difficult to liquidate such assets.
The use of blockchain could address this by tracking each contract electronically across the lifespan of the investment, said Rashid.
A potential waqf project being currently studied involves the redevelopment of a school in Jakarta, Indonesia, into a commercially-viable property, he added.
Reporting by Bernardo Vizcaino; Editing by Christian Schmollinger
Introduction
Finterra is a cloud based financial services platform designed to harness both individual and corporate financial needs in a seamless and integrated platform. The creative brainchild of a round table of visionaries set out to make finance simple again, Finterra integrates time tested financial services and cutting edge financial technology on a blockchain ecosystem enabling transparent, accountable and secure financial services.
Headquartered in Hong Kong, Finterra’s global presence includes Singapore and Malaysia. The next stage of scheduled expansion kicks off in Abu Dhabi, Dubai, Geneva, and New York. Established with the aim to promote community growth and development, Finterra offers a truly global, fully inclusive financial platform that aims to bridge the gap between consumers and providers. Users in the Finterra ecosystem are able to use their FIN on e-commerce platforms for a wide range of financial services. It offers the world’s first borderless block chain driven, zero fee cloud based platform.
Finterra currently has an extensive network across Asia which comprises of the following financial hubs:
Finterra Ventures Ltd Hong Kong
Finterra Ptd Ltd Singapore
Finterra Technologies Sdn Bhd Malaysia
Vision
We at FINTERRA are proud to have reached the point where we can share a new vision with the world.
Our vision is to become a global technology leader in financial services, promoting community growth and development.
Mission
The journey although long has been well worth it, an idea brought from the cloud has grounded and moulded our thought process into the company we are today. We have handpicked our international team of advisers, directors and specialists, who are passionate about our vision of what our company will be.
Our mission is to create a platform that educates, informs and inspires, while enabling freedom to earn, save and spend.
Main site:
http://finterra.org/
IO site
https://finterra.io/index
https://www.facebook.com/finterra2u/
https://twitter.com/Finterra2u
Youtube
https://www.youtube.com/channel/UCHG9Lq3s7psrMVNDuf3A6rQ/featured?disable_polymer=1
Telegram
T.me/finterra2u
Finterra
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