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THE IMPACT OF BLOCKCHAIN-BITCOIN IN MALAYSIAN MARKETS Miraz, Mahadi Hasan; Hye, A. K. Mahbubul; Habib, Md. Mamun
International Journal of Supply Chain Management Vol 8, No 5 (2019): International Journal of Supply Chain Management (IJSCM)
Publisher : International Journal of Supply Chain Management

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (744.519 KB)

Abstract

In the field of technological advance, when everyone talks about "the Internet of things�, and so it is expected that there is something and everything in the relationship, money should not be left. The currency of the papers is a thing of the past, since the virtual currencies are beginning to take control and Bitcoin is ready to achieve this performance. Not only does it revolutionize the way it is paid, but it also potentially affects the USD as the USD, which is already a challenge for the challenges of the EURO or the Chinese Renminbi Yuan (CNY). The increase in crypto currencies will give a new dimension to this challenge for the Ringgit (MYR) in Malaysia. The purpose of this study is to understand the many factors that are gaining momentum in Bitcoin (BTC) in several areas of global finance and how confusing it can be, including the financial system of the major fiduciary currencies, which is mainly MYRs. The most important variables examined are Bitcoin, Bitcoin Technology, Bitcoin Economy and Bitcoin as currency. Furthermore, the study would propose a framework that would become the foundation for the furthering of upcoming explorations. Finally, this study would act as a stepping ground for making effective contributions towards understanding the best possible way to plan for the success of retail market in Malaysia.
Exploring Smart Contracts In Islamic Finance: Blockchain-Based Shariah-Compliant Transactions Desky, Harjoni; Hye, A. K. Mahbubul
AT-TIJARAH: Jurnal Penelitian Keuangan dan Perbankan Syariah Vol. 7 No. 1 (2025): AT-TIJARAH: Jurnal Penelitian Keuangan dan Perbankan Syariah
Publisher : Fakultas Ekonomi dan Bisnis Islam - IAIN Lhokseumawe

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52490/at-tijarah.v7i1.6022

Abstract

The rapid advancement of blockchain technology presents new opportunities and challenges for the Islamic financial system, particularly in ensuring compliance with Shariah principles. As Islamic finance continues to grow, there is a pressing need to explore how digital innovations such as smart contracts can be integrated without violating core religious tenets. This study explores the potential application of smart contracts in Islamic finance, focusing on how blockchain technology can support transactions that comply with Shariah principles. Using a qualitative approach with triangulation methods, the research combines systematic literature review, in-depth interviews, and comparative analysis between smart contract frameworks and classical Shariah contracts such as murabaha, mudarabah, and ijarah. The study examines how smart contracts can enhance transparency, reduce operational costs, and minimize human error while ensuring adherence to Islamic legal and ethical standards. The findings indicate that blockchain-based smart contracts can effectively automate Islamic financial transactions when designed with proper attention to the prohibition of riba (interest) and gharar (uncertainty). The research highlights the need for close collaboration between Shariah scholars and technology developers to ensure compliance. This study suggests that smart contracts hold significant promise for increasing efficiency, trust, and transparency in the Islamic financial ecosystem