GOLDX is the only cryptocurrency of its kind provided with gold, developed by the Malaysian firm HelloGold, received the certificate of compliance with the Sharia from the Supervisory Board of Amanie Advisors.
Currently, the company plans to launch its gold platform in Thailand. The launch should take place before the end of 2018. A certificate of compliance with the Sharia was granted to GOLDX for “the reality, transparency and efficiency of the process of its release.”
The GOLDX token, created in late 2017, is based on a unique business model, within which it is provided with physical gold stored in a Singapore safe. Another important point, potentially providing success, maybe that all GOLDX transactions must necessarily be completed within the specified period.
Needless to say, this is a vivid example of the effective work of prospective companies working in the field of technology solutions for the financial market, introducing the most advanced technologies and striving to occupy a worthy place in the fast-growing sector of the Islamic financial market in the Arab world and South-East Asia.
According to the co-founder and CEO of the crypto project, Robin Lee, having received the world’s first certificate of compliance with the Shariah for the GOLDX token, HelloGold has opened access to a new financial product for more than 1 billion true Muslims.
He noted that the international Islamic financial market continues to grow and is of interest in non-Muslim countries. In 2016, the total capitalization of the Islamic financial services industry reached $ 1.9 trillion (7.4 trillion Malaysian dollars).
Robin Lee also added that the GOLDX token will make financial services even more accessible around the world, helping to ensure the security and transparency of platforms for true followers of Islam who want to join the cryptocurrency market.
In 2017, in Malaysia, HelloGold also released a specialized mobile application, giving users the opportunity to buy and sell gold for physical investment. Now the application also boasts a new certificate from Amanie Advisors.
If everything goes according to plan, the golden HelloGold platform will be available in Thailand as early as 2018. In addition, the company also plans to enter the Third World markets by the end of 2018
Blockchain solution for the Islamic charitable sector
The Singapore company Finterra has developed a blockchain platform for crowdfunding. It allows users to create “secure contracts” for certain waqf projects (mainly donations in the form of land, real estate or money).
Founded and headed by General Director Hamid Rashid, Finterra hopes that its platform will make charity fundraising more efficient while making the management and transfer of ownership of waqf easier and more transparent.
The company began the development of the blockchain-platform in October 2017. Currently, its pilot projects are ready and are under consideration in various funds of Malaysia, Indonesia and Singapore. According to Hamid Rashid, Finterra expects that the product will be finally launched and will be able to service customers by June of this year. In the future, the company plans to assist international waqf councils and supervisory bodies. Among other Finterra plans is the holding of a forum in Kuala Lumpur next month. During the event, it is planned to discuss promising developments and application of blockchain technologies for the needs of waqf projects.