In line with the Koran: Al Hilal Bank issues world’s first Sukuk bond via a blockchain

Al Hilal Bank from the United Arab Emirates was the first bank to issue a Sharia-compliant bond via a block chain. In cooperation with the Swiss FinTech Jibrel, the financial institution issued a US$1 million bond to a private investor.

Bitcoin news: Are crypto currencies halal?

In many places Bitcoin news already reported on the affinity of the Arabian Peninsula to Distributed Ledger Technology (DLT): https://www.geldplus.net/en/bitcoin-news-trader-review/ The announcement of the first successful execution of a so-called Sukuk transaction by Al Hilal Bank from Abu Dhabi using blockchain is an important news in this context. It shows that DLT is also suitable for the Islamic banking industry.

As the news agency Reuters reported on 26 November, Al Hilal Bank issued a small tranche of a Sukuk via a blockchain. The financial product has a total volume of 500 million US dollars and expires in September 2023, so it has a term of five years. According to Reuters, the volume of the blockchain transaction was one million US dollars. The buyer of the product was an unspecified private investor.

In the press release of the Arab bank it says about Bitcoin formula:

Al Hilal Bank aims to transform the Sukuk market by integrating the Bitcoin formula blockchain into its infrastructure, paving the way for innovative digitized Islamic Sukuks. Read more about it: Is Bitcoin Formula a Scam? Read This Review Before You Sign Up!

Cooperation with Zuger Jibrel Network
The issue was carried out in cooperation with the Jibrel Network. According to the press release, the Swiss FinTech company provided the bank with the technical infrastructure for the transaction.

Jibrel founder Talal Tabbaa speaks of a success:

“We firmly believe that by combining Jibrel’s proven smart contract solutions with the industry expertise of Al Hilal Bank’s digital transformation team, we will be able to provide Islamic financiers with the necessary tools to enable Islamic contracts with the same speed, volume and efficiency as in conventional financing and possibly develop new digital asset classes […]”.

In line with the Koran
Sukuks are financial instruments of Islamic banking. In compliance with the prohibition of interest by the Koran, Sukuk papers do not bear interest. Sukukuk’s offer other forms of profit-sharing for investors, so that a return on the investment can still be achieved. Islamic financial products are often secured with assets such as real estate or land. Investors then participate in the profits via a profit rate.

The Shariyah Review Bureau is responsible for checking the Sharia conformity of Islamic financial products. It was only this summer that Stellar became the first crypto currency to pass the audit in front of the office. From this point on Stellar Lumens (XLM) could also be traded in the Arab world.

Invest in crypto currencies: How do I find crypto investments?

After we have shown into which categories crypto investments can be divided, the question arises how concrete investment opportunities can now be found. In part 2 we show the common practices for finding crypto investments.

In the following we focus on the funding of projects, other forms of investment are only briefly mentioned.

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Funding: Find lucrative projects
As already indicated, the fundings are aimed at financing new projects/companies and are therefore associated with a higher risk. On the other hand, higher returns and extreme increases in value are hoped for. Precisely because the projects are new, the amount of information required is particularly high. Key figures, structures and team members have to be analysed in order to get a precise picture of the project. No matter how good a team is on its way in the wrong direction, it is just as ineffective as an unorganized team with a grandiose idea.

ICO’s are a special form of funding. The Initial Coin Offerings offer, analogous to the IPO on the stock exchange, the possibility to acquire coins directly from the development team as an investor in the initial phase. It should not be underestimated, however, that many investors have been able to benefit from the potential, especially due to the current hype: Black sheep join the ranks of the ICO’s, who try with strange ideas to collect a lot of money in a short period of time and only provide coins that can never be used because the project is not implemented.

So let’s be clear: ICO’s are generally much riskier than investments in existing and widely used currencies, because it is not certain whether the currency will ever be accepted.
In the “ICO” part of this investment series, we go into the analysis in more detail.

Other investments for the Bitcoin trader

This category is particularly vague and therefore difficult to bind to a fixed set of guidelines for identifying investment opportunities for the Bitcoin trader according to onlinebetrug.

Anyone who recklessly invests will soon be in the red. For this reason, it is important to keep this category up to date in terms of knowledge. There is no uniform platform, such as a stock exchange, on which investments can be made centrally. In order to set up a Dash master node, for example, one should understand the technology behind Dash and the meaning of the master nodes as well as the remuneration structure in addition to the investment case in order to be able to make a well-founded decision.

Mining is rarely attractive to private individuals today. While a few years ago it was still profitable to run your own machines in the living room to mine Bitoin and Co., large investors are skimming off the returns, so that the mining of existing currencies is becoming increasingly unattractive.

Long-term investment
If the main objective is not only to achieve short-term speculative profits, but also to be invested in a crypto currency in the long term, then the following factors should be taken into account:
* Acceptance
* Regulation
* USP – unique selling point of the crypto currency A) from other systems and B) from other crypto currencies

Diversification: The Nonplusultra
The importance of diversification should also be mentioned here. While some investors are sticking strictly to the theory of investing in a small number of investments, the majority advise portfolio diversification, i.e. spreading the investment sums across different projects or investment forms. This is to minimize the risk, because e.g. strong fluctuations of a special currency can be balanced by other currencies in the portfolio.

Our Investment Recommendation – The Crypto Compass
As the largest German-language media platform for blockchain and crypto currencies, we know this market better than almost anyone else. With the Kryptokompass, the first market letter for digital currencies, we summarize the most important news every month and provide exclusive assessments of market developments, innovations and upcoming ICOs – always critical and independent.

WannaCry ransom exchanged via ShapeShift.io

In times of total networking, bank robberies give way to a more effective way of obtaining money: Ransomware. WannaCry is one such ransomware that for months exploited security vulnerabilities on computers around the world to encrypt drives against the will of their users. The players behind WannaCry apparently wanted to secure their loot.

We reported on the devastating incidents with the WannaCry ransomware. Countless computers worldwide were infected, the attackers first demanded a ransom in Bitcoin, later also in the (almost) anonymous digital currency Monero. The ransom was supposed to be the key to decrypt the affected drive. Security experts advised patience, as some of these encryptions could be solved by other means.

Even computers of the British Ministry of Health were affected, and the general public might not even be aware of the extent. 300,000 computers in over 150 countries were victims of this attack.

The frequency of these Bitcoin trader attacks is increasing

The address with the booty on the Bitcoin trader blockchain is known. On Wednesday, a Twitter review reported that payment had begun from the hacker’s address. The hackers tried to exchange their captured Bitcoins for Monero via the Swiss exchange service ShapeShift.io. The first payout amounted to around 7.34 Bitcoin, which is currently slightly more than 20,000 US dollars. Monero’s market capital is currently US$650 million, with an XMR token currently priced at US$43.

The digital currency is becoming more and more popular, not least because darkweb marketplaces like AlphaBay were ultimately undermined by the open nature of the public blockchain, like Bitcoin.

Crypto trader reaction

But the supposed escape in Monero seemed easier for the crypto trader than expected. The team behind the crypto trader review reported on Wednesday that the transaction would violate the terms of use of ShapeShift.io.

“As of today, we are blacklisting all addresses associated with the WannaCry hack that are known to our ShapeShift team, in accordance with our policy, if the service conditions are not met. We will monitor the situation closely and block any other addresses associated with it.”

According to its own information, ShapeShift is now working with law enforcement in this case.