The Role and Potential of Blockchain Technology in Islamic Finance

Q2 Social Sciences

European Business Law Review Pub Date : 2022-04-01 DOI:10.54648/eulr2022005

J. Truby, A. Dahdal, O. Ismailov

引用次数: 5

Abstract

Blockchain is the underlying technology upon which cryptocurrencies such as bitcoin are built. Cryptocurrencies have received significant attention in recent years. This focus has obscured the real technical innovation in data storage and retention – that of the so-called ‘blockchain’ digital architecture. Blockchain – also known as ‘distributed ledger technology’ (DLT) – has the potential to change much more than the realm of conventional financial services. The ability to transfer, store and record non-fungible bits of information is an important technical accomplishment that brings the economic dynamics of supply and demand to the digital sphere. This article examines how DLT is (and may in the future) influence the world of Islamic finance. We argue that blockchain has the ability to mediate and harmonise differing shariacompliance regimes thus opening up a single digital market for Islamic financial products and services. Fintech, Blockchain, Distributed Ledger Technology, Islamic Finance, Shariah-compliance, Cryptocurrency, Bitcoin, OneGram, Financial inclusion, Sustainable Development Goals (SDG).

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区块链技术在伊斯兰金融中的作用和潜力

区块链是构建比特币等加密货币的底层技术。近年来，加密货币受到了极大的关注。这种关注掩盖了数据存储和保留方面真正的技术创新——所谓的“区块链”数字架构。区块链——也被称为“分布式账本技术”(DLT)——有可能改变的远远超过传统金融服务领域。传输、存储和记录不可替代信息的能力是一项重要的技术成就，它将供求关系的经济动态带入了数字领域。本文探讨了DLT如何(以及未来可能)影响伊斯兰金融世界。我们认为，区块链有能力调解和协调不同的合规性制度，从而为伊斯兰金融产品和服务开辟一个单一的数字市场。金融科技、区块链、分布式账本技术、伊斯兰金融、伊斯兰教法合规、加密货币、比特币、一金、普惠金融、可持续发展目标(SDG)。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

European Business Law Review Social Sciences-Law

CiteScore

1.10

自引率

0.00%

发文量

期刊介绍： The mission of the European Business Law Review is to provide a forum for analysis and discussion of business law, including European Union law and the laws of the Member States and other European countries, as well as legal frameworks and issues in international and comparative contexts. The Review moves freely over the boundaries that divide the law, and covers business law, broadly defined, in public or private law, domestic, European or international law. Our topics of interest include commercial, financial, corporate, private and regulatory laws with a broadly business dimension. The Review offers current, authoritative scholarship on a wide range of issues and developments, featuring contributors providing an international as well as a European perspective. The Review is an invaluable source of current scholarship, information, practical analysis, and expert guidance for all practising lawyers, advisers, and scholars dealing with European business law on a regular basis. The Review has over 25 years established the highest scholarly standards. It distinguishes itself as open-minded, embracing interests that appeal to the scholarly, practitioner and policy-making spheres. It practices strict routines of peer review. The Review imposes no word limit on submissions, subject to the appropriateness of the word length to the subject under discussion.