Islamic Research and Training Institute partners with Samsung-backed Blocko’s E24P to launch blockchain-based Smart Credit Management Platform to boost Islamic finance sector
Jeddah, Kingdom of Saudi Arabia, 14 June 2020 — The Islamic Research and Training Institute (IRTI) of the Islamic Development Bank (IsDB) Group has partnered with the Samsung-backed blockchain technology firm Blocko to build a blockchain-based innovative credit enhancement system. The patented Smart Credit Management System minimizes the risks associated with credit financing to businesses and consumers through the use of new economic incentive models and advanced implementations of hybrid blockchain technology.
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