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- Title
العقود الذكية: دراسة فقهية تطبيقية.
- Authors
يمان نايل رضاء ال
- Abstract
The global proliferation of smart contract applications within the financial sector is catalyzed by the emergence of blockchain technology, particularly the Ethereum platform. Smart contracts, defined as programmable selfexecuting agreements, have gained prominence across the financial landscape due to their decentralization and peer-to-peer execution via blockchain. It is noteworthy that these contracts must adhere to Sharia and Islamic law while safeguarding the rights of involved parties and ensuring contract outcomes. Amid the escalating interest in smart contracts, this research endeavors to scrutinize their applications, specifically in the domain of Islamic finance. The investigation delves into four distinct models of smart contract applications in Islamic finance, incorporating jurisprudential adaptations for each. These models encompass the Blossom Finance Model, the Wethaq Platform Model, the Finterra Waqf Chain Model, and the HelloGold Model. Employing an inductive, descriptive, and analytical approach, the study establishes that all four applications of smart contracts adhere to Sharia principles as dictated by Islamic law. Notably, these applications encompass diverse areas such as the issuance of Mudaraba sukuk (Islamic bonds) in the case of the Blossom Finance Model, leasehold sukuk issuance through the Wethaq Platform Model, Islamic endowment and financing via the Finterra Waqf Chain Model, and the facilitation of transactions involving physical gold in the HelloGold model.
- Publication
Bait Al-Mashura Journal, 2023, Issue 20, p43
- ISSN
2410-6836
- Publication type
Article
- DOI
10.33001/M0110202320/115