MAAL BLOCKCHAIN IN BANKING AND FINTECH

Solve Your Financial Trade Inefficiencies

MAAL BLOCKCHAIN COULD POTENTIALLY SAVE BANKS MILLIONS OF DOLLARS BY DRAMATICALLY REDUCING PROCESSING COSTS

Maal Blockchain technology holds the potential to change business processes by redefining value chain interactions, reducing operational complexity, and reducing transaction costs.

Financial Industry Use Cases

Simplifying Trade Finance

Trade finance is still mostly based on paper, such as bills of lading or letters of credit, being sent by fax or post around the world. Maal blockchain technology can address the shortcomings of the traditional paper-based trade finance system by digitising, optimising, and shortening the trade finance process and making it more transparent, cost-efficient, and accessible. Smart contracts are a series of digital agreements, including terms and conditions promised by contract participants. With its programmable protocol, smart contracts allow the execution and automation of contract terms. The essence of smart contracts is that they can enable parties who have no trust in each other to collaborate without the need for a trusted intermediary like a bank.

Improve Cross Border Payments

Many of the issues with traditional cross-border payments stem from the high number of intermediaries in the form of correspondent banks that are involved in processing a transaction. Each additional intermediary drives up the processing fee, increases the number of failure points, and adds to the risk of fraud somewhere along the payment pathway. SWIFT, the international payments messaging network that connects the transacting institutions in international payments, is notoriously slow and subject to security breaches. Tijarah's Maal blockchain solution allows for peer-to-peer transactions that are stored in a distributed, immutable ledger that acts as a trustworthy “intermediary”. Payments can not only transact and settle in near real time, but your business can also rest assured that the Blockchain network is governed digitally and that rules cannot be broken.

Tokenize Digital Assets for Trade

Global trade still relies heavily on the liquidity of assets to reduce fees when exchanging commodities, despite the evolution of cross-border payments and peer-to-peer transactions. A commodity's trustworthiness builds demand for it and ultimately liquidity in its exchange. Through the tokenization of Digital Assets, such as Real Estate, Stocks, Bonds, Government Currencies, and other commodities, the world will be able to transact any Digital Asset on a peer-to-peer basis. The result will be the emergence of a new era in which commodities (ex. Real Estate or Electricity), currently illiquid because of their physical nature and lack of tangibility, will be traded digitally. In countries whose government currencies remain illiquid, the reduced exchange costs will impact and greatly increase trade, resulting in a reduction in commodity prices due to new market opportunities.