Purpose

This paper aims to provide a reflective discussion on the different avenues of blockchain application in Islamic finance in promoting trust and transparency for increased accountability between parties involved in the delivery of Sharīʿah-compliant products and services.

Design/methodology/approach

This paper discusses on blockchain benefits in Islamic finance while providing an illustration with smart Sukuk. Having identified the advantages of the development of Islamic financial technology (i-FinTech), this study ends by debating a couple of challenges (computational codification of Sharīʿah principles and environmental impact) that have to be addressed to promote the development of a real sustainable Islamic FinTech.

Findings

This paper also identifies two challenges in using blockchain in i-Fintech. The first challenge refers to the extent to which Sharīʿah principles can be computationally encoded. Blockchain makes public all transactions that ease Sharīʿah compliance checks and determine if these transactions are Islamic in nature but this check can be done only after their operation. The second challenge is related to the algorithmic protocol used to validate smart contracts (including smart Sukuk). This situation calls into question the principles of Maqasid al-Sharīʿah according to which transactions should not harm society.

Originality/value

In the current debates related to the development of Islamic FinTech, this paper also identifies two challenges in using blockchain in i-Fintech.

中文翻译：

---

通过数字伊斯兰金融和区块链技术增强信任

目的

本文旨在对区块链应用在伊斯兰金融中的不同途径进行反思性讨论，以促进信任和透明度，以增加参与提供符合伊斯兰教义的产品和服务的各方之间的问责制。

设计/方法/方法

本文讨论了区块链在伊斯兰金融中的好处，同时提供了智能伊斯兰债券的说明。确定了伊斯兰金融技术 (i-FinTech) 发展的优势后，本研究以辩论几个挑战（伊斯兰教法原则的计算编纂和环境影响）结束，这些挑战必须解决以促进真正可持续的伊斯兰金融科技的发展。金融科技。

发现

本文还指出了在 i-Fintech 中使用区块链的两个挑战。第一个挑战是指在多大程度上可以对 Sharīʿah 原则进行计算编码。区块链公开所有交易，以简化 Sharīʿah 合规性检查并确定这些交易是否具有伊斯兰性质，但这种检查只能在其操作后进行。第二个挑战与用于验证智能合约（包括智能伊斯兰债券）的算法协议有关。这种情况对 Maqasid al-Sharīʿah 的原则提出了质疑，即交易不应损害社会。

原创性/价值

在当前与伊斯兰金融科技发展相关的辩论中，本文还指出了在 i-Fintech 中使用区块链的两个挑战。