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