Singapore, Singapore Dec 26, 2020 (Issuewire.com) - Official Press Release
Founded in 1926, Nahdlatul Ulama (NU), the largest independent Islamic organization in the world based in Indonesia with a membership base of over 90 million and 32 offices worldwide, is developing the ARAH app and digital asset for their members. ARAH, which means direction, is a comprehensive smartphone application to provide members with a better life. The app will constantly be enhanced in partnership with MJM Networks and in alliance with Cake Experiential Communications and Finamatrix A.I.
Just recently in July 2020, a landmark announcement made by the Securities Commission of Malaysia’s Sharia Advisory Council approves of the trading of digital assets and is now permissible by law within the country. The new ruling will not only help spur the growth of Malaysia’s existing financial ecosystem but will also enable the creation of a blueprint that can be used by other Sharia-observing nations to promote crypto innovation while staying in line with the deep ethical values outlined by Islamic traditions.
ARAH GLOBAL APP: EMPOWERING THE PEOPLE
Powered by NU, the ARAH digital asset or coin is the official token and cryptocurrency of the ARAH app which will offer full features such as family health news, education, shopping, sports events, social media, and live chatting, prayer reminders, Qibla, nearest Mosque location, entertainment, banking, insurance, etc. The ARAH app will be developed, integrated, and upgraded with proven innovation for the best user experience.
GLOBAL POVERTY & SOCIAL RESPONSIBILITY
According to the World Bank, out of a population of around 270 million, about 26 million Indonesians still live below the poverty line while global poverty stands at about 10% of the global population.
Being the largest Muslim organization and also a charitable body funding schools and hospitals as well as organizing communities to help alleviate poverty, NU believes that it has the social responsibility to guide its members in online media and to promote a safe, secure and harmonious society, not only for 1.8 billion Muslims worldwide but also to do good for the entire world.
Starting with members in South East Asia, the ARAH app will be available to the global market for anyone to gain such as receiving group discounts on shopping apps, etc.
The ARAH app and coin will provide competitive advantages due to the size of the membership base which is proven economies of scale for attractive discounts for the benefit of members. The app will be made available in stages.
ARAH GLOBAL will also be the platform to provide linkages to the financial world for investments in profitable tech solutions and specialized projects that help the needy worldwide.
HALAL-CERTIFIED FUNCTIONALITY & GROUP DISCOUNTS
With the halal-approved ARAH app, NU hopes to organize community activities starting from the global Muslim community by reaching out to underprivileged children. For example, children who are not able to go to school for whatever reason may join the live broadcasts of school lessons in the education section of the ARAH app.
The ARAH app and coin are open to anyone who wants to benefit. All members in the world can use ARAH coin for receiving discounts such as for buying life insurance, receiving relevant news and information, meeting new like-minded friends, etc. NU members will be able to obtain assistance from NU in a much easier and effective manner.
What is Blockchain?
Blockchain is a decentralized network of computers that records and stores data to display a chronological series of events on a transparent and immutable ledger system (unchangeable collection of accounts). Decentralization is the process by which the activities of an organization, particularly those regarding planning and decision-making, are distributed or delegated away from a central, authoritative location or group, putting power into the hands of the people.
ARAH GLOBAL Coin
Being the official token of the ARAH app, the ARAH coin can be used for payments for selected goods and services. The total supply of coins will be limited to 100 billion with 50 billion coins pre-sold to 50 million members (1000 coins per member with a total value of 10 Singapore dollars for each member) at the early-bird price of 0.01 Singapore dollar, a safe-haven currency. The smallest denomination for ARAH coin is 1 coin with zero decimal points. The total initial network value of ARAH coin is 1 billion Singapore dollars. The remaining 50 billion coins will be for sale to other NU members and the public who want to reap the same benefits.
The ARAH coin will reside on Waves blockchain which is in the process of being interlinked with other major blockchains such as Tron, Ethereum, Binance, Singapore dollar blockchain and others, forming the world’s largest multi-linked blockchain. In the near future, there will be plans for ARAH coin to be made available on DBS digital exchange when DBS announces details.
KEY PARTNERS & SOLUTION PROVIDERS
MJM Networks, an IT solutions provider that has serviced major clients such as Singtel and Motorola since its founding in 1991, together with Cake Experiential Communications and Finamatrix, will offer a comprehensive mobile tech solution for NU members powered by NU.
Cake Experiential Communications is a leading IT and brand marketing, communications & consulting agency with clients such as Digi Telecommunications under the Telenor Group, and regional banks such as Hong Leong Bank and RHB, and is specialized in developing personalized brand experiences that engage audiences with an authentic message through meaningful, relevant & innovative ways.
Finamatrix is a big-data risk-tech A.I. firm that performs simulated-optimizations daily and operates its risk-tech at 2000 transactions per second on the blockchain versus 4.6 transactions per second for Bitcoin. The proprietary risk-cybernetics integrated on FIX digital asset is the designated transfer fee for ARAH coin, providing the best cost-efficiencies with custodian service for millions of transactions.
As part of a sustainable growth strategy, a new company will be started by NU and partners to manage this project. ARAH GLOBAL at all times performs necessary KYC(AML/CFT) procedures provided by the Monetary Authority of Singapore’s Guidance for Effective AML/CFT Transaction Monitoring Controls.
For more details, please visit ArahGlobal.com.
Media Contact
Finamatrix info@finamatrix.com https://finamatrix.net/
