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The Journal of Sharia Fundamentals for Specialized Researches

About the Journal :

The Journal of Sharia Fundamentals for Specialized Researches is published quarterly, it is designed for whoever researcher seeking welfare that is based on knowledge. It seeks to provide a platform for the excellent researchers to present and consider the values and themes of various religious and social sciences acquired by learning and practice. It aimed at becoming a meeting point and channel for researchers to publish their innovative works, with regard to the interpretation of Islamic Sharia sciences and its regulations and the enhancing of social sciences to become adequate programs that serve the human and society in a significant and neutral way.

Our mission is to maintain the efforts of researchers and their innovative works in Islamic Sharia sciences known for its human civilizational value, through which we can spread awareness among people and ensure respect and strength of Islamic identity in different scientific, cultural, and social environments.

Therefore, this journal is designed to serve as a platform to identify the various religious and social dimensions of knowledge, such as considering the Holy Quran as the foremost and fundamental source of Islamic rules followed by the Sunah (biography of the Prophet Mohammed Peace and Blessings be Upon Him) that explains and clarifies the Holy Quran, along with its affiliated Sharia studies on the individual and society, such as studies concerned with Ijtihad which focuses on the studying of modern issues and finding solutions to them.



BLOCKCHAIN TECHNOLOGY AND IT'S EFFECTS ON MODERN FINANCIAL TRANSACTIONS: AN ISLAMIC JURISPRUDENTIAL STUDY

ABSTRACT

The revolution of technology is developing at an accelerated pace. Blockchain technology is a relatively recent invention which has significantly affected business and finance at all levels. Blockchain technology is the basis for some types of financial transactions, such as smart contracts and virtual currencies.

This research aims to explain the reality of blockchain technology and its underlying principles as they relate to Islamic jurisprudence and contemporary financial transactions. The author has adopted the descriptive approach for this study, in accordance with the standards and procedures for academic research.

From the most important conclusions of this research are that this technology is a valid platform for conducting financial transactions and contracts, whereas a transaction is initiated by an owner pressing the send icon and confirmed once evidence of the transaction appears in the public registry, whereby the transaction is registered and the recipient becomes the new owner of the finances.

Key words: Islamic jurisprudence, blockchain, trust chain