The Technology Solution

The Ozara Digital Platform comprises three major components: mIDentity, Mobile Money and Smart Contracts.

mIDentity

mIDentity is foundational for the platform. Everyone’s identity is unique and everyone has distinctive biometrics. People’s fingerprints have different biometric characteristics. With Ozara mIDentity you can:

Set up your own ID and your own "lockbox" to keep personal data safe. Biometrics are used for set up and to secure access.
It is easy to do. All that is needed is a smartphone. For facial recognition, this is as simple as taking a "selfie". Once at set up, and new "selfie" when you need access.
Your "lockbox" is secured using encryption. A key made using your distinctive biometric profile is used to get access.

Mobile Money

Mobile is the digital by default channel for Ozara. Ozara Mobile Money provides an e-wallet with financial management tools, savings, loans and providing the ability for members to remit funds, and make payments.

Smart Contracts

Distributed ledger technology and the advent of smart contracts uniquely compliments participation finance. This technology tracks and records data across a digital ledger network. Participants within the network have visibility of contracts to which they are a party. Smart contracts enable Sharia compliance to be enforced in a secure and cost effective manner.