A Miniature Islamic Economy on the Blockchain

IBF Net: The Islamic Business and Finance Network is the maiden online community in the field created in the year 1999 for exchange of views among students, researchers, knowledge-seekers and professionals interested in this sunrise discipline.

Two decades later, this Network is being moved to the blockchain with an expansion of its mandate — from a forum for exchange of “views” to a meeting place for exchange of “values” facilitated through a pair of native tokens — IBF Exchange (IBFx) and IBF Esteem (IBFs). Transformed into a membership-based virtual Network of individuals with verifiable identities, it will provide platforms in line with the trichotomy of an Islamic economy into philanthropy, not-for-profit and for-profit sectors.

Today, we have taken a small step forward by launching the IBF Tokens. We hope this proves to be a giant leap for the Islamic Finance ecosystem in the future inshaAllah. Download our lite-paper here: https://ibfnet.ie/

We plan to roll out a few platforms that use smart contracts to facilitate the entire array of Islamic financial transactions within the Network amongst its members in a multitude of roles — donors, volunteers, lenders, borrowers, guarantors, beneficiaries, buyers, sellers, investors and what-have-you. Watch out for our first platform — Benevolence — that facilitates and integrates donations and volunteering. The count down has already begun.

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Leveraging Research and Technology for a Halal Ecosystem