SYDNEY: A new venture aims to use blockchain technology to modernise the management and investments of Islamic charitable endowments, called waqf, that would tap into a vast but underutilised pool of assets across the Muslim world. The firm will hold a forum in Kuala Lumpur next month.
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.
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