Bitcoin and Islamic Finance

It is argued that a Bitcoin-style money-like informational commodity may constitute an effective instrument for the further development of Islamic Finance. The argument involves the following elements: (i) an application of circulation theory to Bitcoin with the objective to establish the implausibility of interest payment in connection with Bitcoin, (ii) viewing a Bitcoin-like system as a money-like exclusively informational commodity with the implication that such a system need not support debt, (iii) the idea that Islamic Finance imposes different requirements compared to conventional financial policies on a money concerning its use as a tool for achieving social and economic objectives, and (iv) identification of two aspects of mining, gambling and lack of trust, that may both be considered problematic from the perspective of compliance with the rules of Islamic Finance and a corresponding proposal to modify the architecture of mining in order to improve compliance with these rules

Thread algebra for poly-threading

International audienceIt is a fact of life that sequential programs are often fragmented. Consequently, fragmented program behaviours are frequently found. We consider this phenomenon in the setting of thread algebra. We extend basic thread algebra with poly-threading, the barest mechanism for sequencing of threads that are taken for program fragment behaviours. This mechanism is the counterpart of program overlaying at the level of program behaviours. We relate the resulting theory to the process theory known as ACP and use it to describe analytic execution architectures suited for fragmented programs. We also consider the case where the steps of fragmented program behaviours are interleaved in the ways of non-distributed and distributed multi-threading

Thread Algebra for Sequential Poly-Threading ⋆

Abstract. Threads as considered in basic thread algebra are primarily looked upon as behaviours exhibited by sequential programs on execution. It is a fact of life that sequential programs are often fragmented. Consequently, fragmented program behaviours are frequently found. In this paper, we consider this phenomenon. We extend basic thread algebra with the barest mechanism for sequencing of threads that are taken for fragments. This mechanism, called sequential poly-threading, supports both autonomous and non-autonomous thread selection in sequencing. We relate the resulting theory to the algebraic theory of processes known as ACP and use it to describe analytic execution architectures suited for fragmented programs