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The Journal of Sharia Fundamentals for Specialized Researches

About the Journal :

The Journal of Sharia Fundamentals for Specialized Researches (JSFSR), a peer-reviewed scientific journal indexed by the International Standard Serial Number for Academic Scientific Journals (e-ISSN: 2289-9073), issued every three months.
The journal specializes in research, articles, and scientific papers of originality and innovation Committed to the scientific methodology, and the ethics of scientific research.
It aims to be a platform for researchers and a meeting point for researchers to present the different values and topics of legal sciences and systematic studies, and link them to the principles of Sharia, and to update, enhance and support the scientific development of contemporary systematic topics related to the principles of Sharia that serve society and ensure the strength and respect of Islamic identity in various scientific fields. Socio-economic



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