Abstract

This Islamic Banking Sharia Compliant Blockchain Innovation provides new methods for banks, financial institutions and monetary funds to provide ethical loans finance including Islamic deposits and finance with no riba, interest or usury. Banks, financial institutions and monetary funds can earn the interest or usury using a different process which is an internal crypto currency block chain dependent process the minting of new coin and mining of transaction fees. This new method is made possible because of the latest technology inside the crypto currency wallet as well as external factors. Customer applies for a loan, bank approves the loan and at the same time the bank acquires bankcoin to the value of the loan. The bank then leverages the bank coin 2x as a number Ix goes to the pay for the bankcoin and the other goes to the borrower. The borrower makes repayments however it is only the principle that he owes as there is no interest or usury. This Islamic Banking Sharia Compliant Blockchain Innovation concerns cryptographic currency for use in the finance industry. More specifically the present invention relates to the provision of cryptographic currency by banking or other such financial institutions for their everyday products such as deposit and term deposit accounts etc. The financial institution then mints/mines the cryptographic currency up to a certain percentage to pay the interest on the account etc. This Islamic Banking Sharia Compliant Blockchain Innovation concerns cryptographic currency/digital mining assets/commodities for use in the stock/share/bond market industry. More specifically the present invention relates to the provision of cryptographic currency/digital mining assets/commodity stock/share/ bond innovation which fundamentally changes how the stocks/shares/bonds are discovered, issued, valuated and rated. This Islamic Banking Sharia Compliant Blockchain Innovation that addresses what the stocks/shares/bonds now known as digital mining assets/commodities look like and how they are bought, sold and traded on a digital mining assets/commodities Blockchain exchange. It affects proof of ownership on the Blockchain, investor returns, earnings to shareholders, settlement speed and company strength etc. This Islamic Banking Sharia Compliant Blockchain innovation is a new stocks/shares/bonds structure using digital mining assets/ commodities which are the actual stocks/shares/bonds in the start ups, businesses, companies and corporations which can then be bought/sold/traded on a new Blockchain shared ledger exchange/ platform. New start-ups and existing businesses/companies/ corporations can transition from their old stocks/shares/bonds structure in the existing stocks/shares/bonds market over to this new innovative digital mining assets/commodities stocks/shares/bonds structure on a new digital mining assets/commodities Blockchain exchange. This Islamic Banking Sharia Compliant Blockchain Innovation makes it possible for investors/stakeholders to acquire principle digital mining asset/commodity in a start-up, business/company/corporation in both the primary and secondary market and let their principle digital mining asset/commodity secondary mine for them on exchange and/or off exchange. This is then a new innovative way for investors/stakeholders who would now be shareholders in this new structure to get a stable return on investment without having to sell their principle stocks/ shares/bonds back into the market place. They can simply sell what their start-up/business/company/ corporation principle digital mining assets/commodities stocks/ shares/bonds secondary mine. This Islamic Banking Sharia Compliant Blockchain Innovation has the potential to completely reshape the Islamic Banking industry and drive huge improvements in market efficiency, settlement, security, regulatory, speed of transfer, ownership CIS, KYC, AML. We will use Bankcoin as our example of the digital mining assets/commodities which has had its principle Bankcoin mined and is now secondary mining a percentage from 1% onwards pa from the total amount in their Bankcoin digital wallet. Example: if you acquire 1000 Bankcoins it will secondary mine up to 10% pa which equals up to 100 newly mined Bankcoins pa. So when an investor/stakeholder acquires 1000 digital mining asset/commodity stocks/shares/bonds in a start up/business/company/corporation from the SharesX exchange for example, they will newly secondary mine 100 digital mining asset/ commodity stocks, shares, bonds per annum for the new shareholder. This Islamic Banking Sharia Compliant Blockchain digital mining asset/commodity stocks/shares/bonds innovation assists with market stability being a fixed price with the option of a floating price above that, transparency as the Blockchain is decentralised, security of ownership as investors/shareholders have full control over their digital mining asset/commodity stocks/shares/bonds both online and offline in their own digital wallet, and minimising tax avoidance by increased transparency and regulatory oversight. This Islamic Banking Sharia Compliant Blockchain Innovation method/ process using crypto currency applies to and for entities, which require an income/revenue producing asset using any form of named/ renamed crypto currency, using any form of blockchain/chain process using the wallet which mints/mines new coin assets. This new method/ process makes it possible for an entity to acquire a (blockchain or any chain dependent) crypto currency asset to earn revenue, mint and mine new assets and currency, produce, acquire income for that entity and or on behalf of another entity. This Islamic Banking Sharia Compliant Blockchain Innovation digital mine discovery innovation actually discovers more digital mines while it uses the blockchain as the rails and a secondary digital mine discovery process to discover secondary digital mines. The 2nd digital mine discovers a 3rd digital mine and then a 4th then 5th which can continue discoveries indefinitely perpetual automatically all from the digital mines discovered before them. Because they are actual digital mines which are discovered they would come under the realestate/property classification. Be it a commercial operation and/or in the wholesale sector and/or retail a portfolio of digital mines traded and/or on sold to the retail sector including being used as but not limited to security, insurance, collateral etc. This Islamic Banking Sharia Compliant Blockchain Innovation sets out a new realestate and/or property blockchain franchise model and has the ability to be exploited under a patent license fee agreement and/or outright bought/sold to specific entities such as but not limited to, governments, Banks, financial institutions, monetary funds, insurance industries on platforms such as but not limited to asset/commodity/stock/bond/share markets and exchanges etc. This Islamic Banking Sharia Compliant Blockchain Innovation is a blockchain digital mine discovery franchise innovation specifically designed and developed for the realestate /property, insurance/ underwriting, security/collateral markets. This is not a crypto currency nor is it an asset/commodity innovation that earns interest. What we have discovered on the blockchain is an actual digital mine we can call the master franchise which can actually discover new digital mines at a pre-determined discovery percentage rate example 1/10th per annum. It is estimated because mine discovery is not an exact science. This Islamic Banking Sharia Compliant Blockchain Innovation is an actual digital mine discovery innovation on the blockchain which by default means it is covered under the realestate banner and in doing so we have worked out through our modelling that it can be an actual franchise. The master franchise is discovered the moment we find it and from there subsequent franchises with the same ability are discovered and then allocated and considered as per this patent as franchisees/sub franchises off the master franchise as well as off the sub franchisees themselves.. Because this Islamic Banking Sharia Compliant Blockchain Innovation is an actual digital mine on the blockchain with a secondary, third, fourth, fifth unlimited and continuous digital mine discovery ability and features, discovery capabilities which then has the ability to discover a third digital mine off the second discovered franchise digital mine which then has the ability to discover fourth digital mine off the third discovered digital mines and so on and so forth. Also from the second digital mine discovery onwards we have the ability to go to an actual asset/commodity which would end the File Settings Help ftoveriew(Mjsendcoins Receivecoins Trnados dresoo tasc Blockxplorer Export PayTo: B -5 zMF516PrX5AhdQMVqcuuSTBq29of Label: Bank-inandal-InstO01 Amount: 100 .00000000 AI Balan: 1000151. 1410678BAK 4send


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Document History
  • Publication: Jun 15, 2017
  • Application: Apr 18, 2017
    AU AU 2017/100426 A
  • Priority: Apr 18, 2017
    AU AU 2017/100426 A

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