Sakkex Opens New Stellar Nodes in UK, Germany and Singapore to Lower Costs Significantly
Sakkex, a security management platform focused on “sukuk” investments on a global scale, has recently affirmed that it was ready to set up three Stellar validator nodes for its own network. According to the company, these three validators will be Sakkex UK, Sakkex Singapore, and Sakkex Germany.
The company has also promised five more validators to be a part of the network “in the near future”, but gave no information to the crypto media about when these new nodes would be launched but said where they would be based: Dubai, Senegal, South Africa, Turkey and Kenya.
Around 70% of the costs to set up and manage the network will be diminished with these nodes, so when the next five are launched, an even bigger economy is to be expected.
Using The Blockchain On The Sukuk Market
In case you are not familiar with the term, sukuk is an Arabic-Islamic word which means that an investment is compliant with the Shariah. The Shariah, by definition, is the Islamic law, which is important for many Muslim countries which have religious governments.
Sukuk is defined by the Accounting and Auditing Organization for Islamic Financial Institutions and it is described as a security contract that represents the ownership of a portfolio. Basically, a security that is recognized by the Islamic law which, for example, forbids financial speculation.
Sakkex uses Stellar blockchain technology together with machine learning techniques in order to obtain the best results in this market. The platform enables financial institutions and corporations to issue Mini, Micro or Premium Sukuk certificates.
The sukuk market is actually pretty big. Around $2 trillion USD worth in assets were dealt in a Shariah-compliant manner from 2016 to 2017. From this amount of money, $342 million USD were from a total of 2,354 sukuk contracts.