Gold-as-a-currency: Kinesis launches blockchain-backed currency system in Indonesia
Kinesis, a gold-backed currency system based in the Cayman Islands, has launched a Sharia-compliant product version in Indonesia, paving the way for widespread adoption of its blockchain solution in the country. has the largest Muslim population in the world.
The product, PosGO Syariah, is described as the first mobile ecosystem business in Indonesia to comply with Islamic law. Provided as an application and powered by blockchain technology, PosGO is a digitalized physical gold trading platform that allows users to conduct real-time peer-to-peer transfers of gold and currencies. The platform also offers payment gateway and community savings program “Golden Mecca” for Hajj, Muslim pilgrimage.
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