Are Cryptocurrencies ḥalāl? On the Sharia-Compliancy of Blockchain-Based Fintech
Abstract The discussion of the sharia-compliancy of cryptocurrencies is shaped by the competing interests of legislators, the business and banking sector, private investors and, finally, religious scholars whose conclusions are diverse and often contradictory. This essay provides an overview of hist...
| Auteur principal: | |
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| Type de support: | Électronique Article |
| Langue: | Anglais |
| Vérifier la disponibilité: | HBZ Gateway |
| Journals Online & Print: | En cours de chargement...
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| Fernleihe: | Fernleihe für die Fachinformationsdienste |
| Publié: |
Brill
2021
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| Dans: |
Islamic law and society
Année: 2021, Volume: 28, Numéro: 1/2, Pages: 76-112 |
| Sujets non-standardisés: | B
Islamic Finance
B Cryptocurrencies B ṣarf B naqd B Currency B Bitcoin B gharar B māl |
| Accès en ligne: |
Volltext (Resolving-System) Volltext (Verlag) |
| Résumé: | Abstract The discussion of the sharia-compliancy of cryptocurrencies is shaped by the competing interests of legislators, the business and banking sector, private investors and, finally, religious scholars whose conclusions are diverse and often contradictory. This essay provides an overview of historical and modern Islamic conceptions of commodities and property, money, and contract of sale laws, and how they relate to cryptocurrencies such as Bitcoin. In doing so, I respond to the most frequent concerns of Muslim scholars: the volatility and speculative nature of cryptocurrencies, security issues and, most commonly, the claim that cryptocurrencies are not ḥalāl because they have no intrinsic value. Finally, I show the consequences of different lines of argument for the sharia compliancy of cryptocurrencies in a case study of four cryptocurrencies: Bitcoin, OneGramCoin, Steemit and Nexo. |
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| ISSN: | 1568-5195 |
| Contient: | Enthalten in: Islamic law and society
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| Persistent identifiers: | DOI: 10.1163/15685195-BJA10005 |