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Journal : Journal of Enterprise and Development (JED)

Blockchain zakat in zakat management organizations, is it necessary? Ikhsan, Nurul
Journal of Enterprise and Development (JED) Vol. 5 No. 3 (2023): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v5i3.7043

Abstract

Purpose — This paper aims to analyze whether zakat management organizations need a blockchain zakat system in maintaining transparency of zakat management which can have an impact on increasing the amount of donations collected from muzakki.Method — This research is a qualitative research conducted with descriptive-analytic method through literature study.Result — Zakat management organizations have a duty to ensure transparent management of the funds they collect as public institutions, and therefore must be trustworthy. By adopting a blockchain-based zakat system, these organizations can enjoy various advantages such as trustlessness, immutability, decentralization, lower costs, peer-to-peer transactions, transparency, and universal banking. This technology can also help address existing issues within zakat institutions.Contribution — This study contributes to the existing literature on blockchain-based zakat system which is still rarely to be discussed.
Blockchain zakat in zakat management organizations, is it necessary? Ikhsan, Nurul
Journal of Enterprise and Development (JED) Vol. 5 No. 3 (2023): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v5i3.7043

Abstract

Purpose — This paper aims to analyze whether zakat management organizations need a blockchain zakat system in maintaining transparency of zakat management which can have an impact on increasing the amount of donations collected from muzakki.Method — This research is a qualitative research conducted with descriptive-analytic method through literature study.Result — Zakat management organizations have a duty to ensure transparent management of the funds they collect as public institutions, and therefore must be trustworthy. By adopting a blockchain-based zakat system, these organizations can enjoy various advantages such as trustlessness, immutability, decentralization, lower costs, peer-to-peer transactions, transparency, and universal banking. This technology can also help address existing issues within zakat institutions.Contribution — This study contributes to the existing literature on blockchain-based zakat system which is still rarely to be discussed.