Tsvetkov Aleksei Igorevich

An adaptation of a currency risk hedging mechanism — built on the Tahawwut Master Agreement (TMA) and the IFX Forward Islamic currency forward standard — to digital currency settlements in foreign trade contracts is proposed. The instrument relies solely on a unilateral binding promise (wa‘d) and a subsequent spot currency exchange (sarf), without using an intermediate sale of goods. Two scenarios are considered: a classical banking scenario and a digital one using a smart contract that provides atomic asset exchange, dynamic margin, and early termination per ICSD/TMA logic. An analysis of compliance with the set of AAOIFI Shariah standards (Nos. 1, 5, 15, 18, 20, 25, 31, 38, 49) is carried out, confirming the feasibility of Shariah-compliant hedging of cryptocurrency volatility.

Keywords: Tahawwut Master Agreement, hedging, currency forward, digital currencies, cryptocurrencies, Shariah standards, AAOIFI, smart contracts, fintech, Islamic finance, foreign trade activity

A decentralized digital currency exchange mechanism is proposed for foreign trade settlements under sanctions conditions and the reorientation toward Islamic markets. The architecture is based on a liquidity pool and smart contracts, which minimizes sanctions risks and ensures compliance with AAOIFI standards No. 1 «Currency Trading» and No. 12 «Partnership (musharakah)». The roles of participants (traders, partners, administrators) and the operations are described: locking assets in source networks, transmission via network bridges, and distribution of rewards. A comparative analysis shows reduced transaction costs and preserved confidentiality compared to alternative methods of international settlement.

Keywords: Islamic finance, musharakah, liquidity pool, smart contracts, cross-border settlements, cryptocurrencies

The infrastructural aspects of using digital currencies in cross-border settlements of Russian companies under sanctions restrictions and the reorientation toward the Islamic world are studied. A comparative analysis of CEX and DEX crypto exchanges for compliance with Shariah standards is conducted, and sanctions, currency, legal, tax, and technical risks are systematized. Based on Chainalysis empirical data and Bank of Russia materials, the need for developing Shariah-compliant hedging mechanisms (atomic swap, liquidity pools, takaful) and settlement infrastructure resilient to external restrictions is substantiated.

Keywords: Islamic fintech, international settlement instrument, Shariah standards, currency exchange, smart contracts, crypto exchanges, atomic swap, liquidity pools

The potential of CBDCs, stablecoins, and cryptocurrencies for cross-border settlements of Russian companies under sanctions and a growing share of Islamic finance among trading partners is investigated. A comparative analysis is conducted along the dimensions of sanctions resilience and compliance with religious-ethical norms. The risks inherent in different types of digital assets are systematized, and the choice of instruments compatible both with Russian legislation and with the legal specifics of counterparty countries is substantiated.

Keywords: Islamic fintech, state regulation of cryptocurrencies, international settlement instrument, Shariah standards, currency exchange, smart contracts

Pitch by team «Algator» at the hackathon of the International Forum Russia-Islamic World. The presented solution helps fintech teams ship products in compliance with rapidly changing regulations. It covers both general fintech requirements across jurisdictions (KYC, AML/CFT, anti-fraud, credit scoring, data privacy, sanctions screening) and Shariah standards AAOIFI, IIFM, IFSB along with local regulations of Russia, Uzbekistan, Kazakhstan, Kyrgyzstan, the UAE, Malaysia, and Indonesia. A team of specialized AI agents integrates with the corporate wiki and task tracker, extracts legal and financial concepts from regulatory documents, and leaves compliance comments directly in tickets.

A project at the intersection of blockchain and Islamic finance: smart contracts on Polygon implement a partnership investment model in which profits and losses are shared among participants, and financing is tied to real assets (purchase of a car or real estate). A manager creates a proposal describing the asset and the required amount, investors vote with capital shares, and upon approval the funds are automatically transferred to the manager, with subsequent revenue distributed through the contract in the specified proportions. The prototype is deployed on a testnet, the source code is available on GitHub, and the entire main scenario has been verified manually via Metamask. The discussion notes the need to supplement the system with a documentary layer and ratings for legal protection, but already in its current form the project demonstrates the fundamental feasibility of encoding ethical financial rules in a decentralized environment.

A joint talk with Vladimir Rastov on classifying AI tools for development (IDE plugins, CLI utilities, CI/CD agents) and on the practical case of building a custom agent. An AI‑CI loop is implemented: from a task in GitLab to an automatic MR that passes the build, tests, Sonar analysis, and code review; typical pitfalls of the «infinite loop» of fixes are also analyzed. The talk concludes with a discussion of the shift in the developer's role to architect and tester of AI output and on the future of the profession as a whole.

Practical experience using local generative models (DeepSeek Coder, CodeStral) in development. It is shown that an AI assistant is capable of generating working code for a distributed payment system from Russian-language prompts, writing tests, and analyzing the codebase via RAG.

A brief overview of Masterchain in English: the platform uses on-chain PKI and a role-based smart-contract model to ensure regulatory compliance and secure interaction among Russian banks.

An experiment implementing zero-knowledge authentication (zk-SNARK) for digital financial assets based on the «Streebog» hash function. Technical feasibility is shown, but practical inapplicability is noted due to the enormous size of the proving key.

Industrial deployment experience of Masterchain in the cases of a decentralized depositary system for mortgage securities and digital bank guarantees (VTB, MTS). It is shown how splitting keys by purpose and a built-in role-based model unify security requirements.

The architecture of Masterchain secure smart contracts: a standard for upgradeable and disableable contracts, a three-component system (deal profile, participant registry, role-based model), and an example of multi-level relationships.