BILLEX is a digital and unconditional order binding one party to pay a fixed sum of money to another party on demand at some point in the future. Document includes three parties: Drawee (the party that pays the sum), Payee (receiver of that sum) and Drawer (Owner, the one that obliges the drawee to pay the payee). The Drawer and the Payee are the same entity unless the Drawer transfers the bill of exchange to a third-party Payee.
BILLEX can be used not only for instant transactions settlement between users but and getting daily income when you hold it.
Thanks to a discount, each day holding BILLEX brings its owner a high income.
You receive income on BILLEX redemption on any day after the date specified in BILLEX. In addition, you can sell BILLEX ahead of time at any time — 100% liquidity and an early daily redemption at a discount above the purchase price.
Income is the difference between the purchase price and the amount of repayment of your BILLEX.
By using BILLEX, which is a Stellar blockchain-based token, we cut down the time and costs needed for Bill of Exchange transfers. By sending tokens on the blockchain you can easily and securely change the ownership of BILLEX which makes the BILLEX tokens the perfect tool for fast, secure and stable digital payments.
Smart BILLEX is built on top of the blockchain’s capability to transfer digital value in an open and decentralised way. This greatly reduces the time and costs associated with handling paper-based Bill of Exchange documents, saving millions of dollars and reducing the burden on our environment.
No central storage which could be attacked by hackers. Global Trade’s most important document is encrypted and securely written on the blockchain network, accessible only with traders’ private keys.
The banking industry still uses paper for issuing Bill of Exchange. Blockchain and Smart Contracts are made for this industry.
International Bill of Exchange under Uncitral and has online management and verification service to compensate for luck of security and a normal Bill of Exchange. So we can save BILLEX as a self-service authenticated anti forgery and anti hack International Bill of Exchange having online features such as online order, online verification and online acceptance declaration based on Blockchain.
BILLEX is issued instantly and is immediately available to the owner. When agreed conditions are met, BILLEX is transferred bitween users — instantly, without couriers in the middle. Just like sending an e-mail.
A blockchain-based BILLEX will be equivalent to a paper one. Having it on the blockchain just takes the pain away. No need to print, send, store and archive it in a conventional way anymore.
BILLEX is designed on Stellar, the ‘First’ Sharia-Certified Protocol for Payments And Asset Tokenization.
Stellar, an open-source platform for distributed payments, is the first distributed ledger protocol to obtain Sharia compliance certification in the money transfer and asset tokenization field.
The Shariyah Review Bureau, a leading international Sharia advisory agency licensed by the Central Bank of Bahrain, has examined the capabilities and applications of Stellar and released guidance that allows for the deployment of Stellar technology in Islamic financial institutions.
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