Blockchain Utilized to Track Zakat Collection

The International Shariah Research Academy for Islamic Finance (ISRA) and SysCode Sdn Bhd has collaborated in a project in developing the first blockchain-powered Islamic finance transaction platform, called the ZakatTech Blockchain. CEO of SysCode, Reza Ismail explained, “Transactions are recorded via a custom asset structure which enables tracing and tracking of donated funds at an unprecedented level.”

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