IsDBI’s Smart Stabilization System Earns Favorable Assessment from WIPO

11 Dec, 2023

post thumbnail

The Islamic Development Bank Institute (IsDBI) is pleased to receive a positive evaluation from the World Intellectual Property Organization (WIPO) regarding the patentability of its groundbreaking Smart Stabilization System.

WIPO has acknowledged the Stabilization System as a novel, inventive, and industrially applicable solution, signaling its significant potential for international patent recognition. This favorable evaluation underscores the distinctive and innovative nature of IsDBI’s knowledge solutions.

The primary objective of the Smart Stabilization System is to enhance the stability of organized asset markets without compromising efficiency. This is achieved by effectively managing the gap between supply and demand to mitigate price volatility while upholding the market-equilibrating role of this gap.

Notably, the System is forward-looking, distinguishing it from most other stabilization systems that typically adopt a backward-looking approach.

Dr. Sami Al-Suwailem, Acting Director General of IsDBI, expressed his appreciation towards the team’s dedication and hard work, stating, “This recognition from WIPO not only validates our commitment to innovation but also positions IsDBI at the forefront of bolstering the financial stability of the digital and crypto-based economy.”

The Smart Stabilization System holds significant potential for maintaining the stability of both financial assets and digital currencies, including Central Bank Digital Currency (CBDC), while making the best use of blockchain technology. Notably, the System is self-financed, with no need for substantial capital to achieve its objectives.

IsDBI has already taken a significant step towards realizing the potential of the System by signing an agreement with Settlement to develop a prototype. This collaboration marks a crucial milestone in introducing this innovative solution and emphasizes IsDBI’s commitment to advancing financial stability through applying cutting-edge technologies.

Join Our Newsletter

Open Modal