DECENTRALIZED FINANCE SYSTEM FOR OMAN INVESTMENT AUTHORITY TO OVERSEE ASSETS AND FUNDS

Abstract

Oman Investment Authority is responsible for managing the state reserve fund and investing it in various public and private sectors in Sultanate of Oman. OIA invests in over 35 nations throughout the world. The fund invests between 65 percent and 85 percent of its assets in pub-lic (tradable) markets and 15 percent to 35 percent in private markets (non-tradable). Various Problems were identified at various levels of the organizations. Few of the identified issues are corruption at low level, Delay in transaction due to a lot of intermediaries, Delay in collecting data about the transaction. There are various methods like whistle blowing that are being im-plemented to prevent fraud. But these systems are not efficient as per current standards. We propose a blockchain based Decentralized Application to allot the funds and track them. Blockchain is part of the Industrial Revolution 4.0, and it continues to reshape every industry. This application allows Oman Investment Authority (OIA) to transfer funds to the respective organizations and then track the transactions. This application eliminates the need of middle-men and makes the transactions faster, transparent, and efficient.