THE FINTERRA ENDOWMENT / WAQF CHAIN
With the rise of continuous innovations and disruptions happening in the financial and technological terrains, Islamic finance, including WAQF principles are being forced to manoeuvre and reinvent themselves, especially in terms of governance and regulations so as to remain relevant, since they constitute a major socioeconomic institution in the today’s financial market.
FINTERRA intends to provide a smart contract ecosystem and accompanying blockchain to allow WAQF boards and other interested stakeholders the opportunity to submit project outlines / plans in order to fund and develop projects on top of Endowment / WAQF properties.
FINTERRA will develop a specific interface for this selected asset. These contributions will be made possible through FIN or other means and will include the possibility for various purpose and interests depending on funders' expectations.
Specifically, contribution as charity, financing, investments or bonds all are intended to be integrated. Each project will have its own attached digital token under the ERC-777 standard. This token will be placed into a project crowdfund smart contract that can only be started once the project has passed all due diligence requirements. After the crowdfund has been completed, any resulting project tokens are claimable by participants, these tokens are digital assets representative of a participants stake in that project.