The Shariah Framework for Smart Contracts, an Original Analytical Study


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Saleh A. O. H., Halawani A. S., Qatawneh M. A. S.

International Conference on Business and Technology (ICBT), İstanbul, Türkiye, 6 - 07 Kasım 2021, cilt.487, ss.1033-1046, (Tam Metin Bildiri) identifier identifier

  • Yayın Türü: Bildiri / Tam Metin Bildiri
  • Cilt numarası: 487
  • Doi Numarası: 10.1007/978-3-031-08084-5_73
  • Basıldığı Şehir: İstanbul
  • Basıldığı Ülke: Türkiye
  • Sayfa Sayıları: ss.1033-1046
  • Anahtar Kelimeler: Smart contracts, Blockchain, Islamic jurisprudence, Shariah framework
  • Açık Arşiv Koleksiyonu: AVESİS Açık Erişim Koleksiyonu
  • Orta Doğu Teknik Üniversitesi Adresli: Hayır

Özet

A smart contract is a contract that brings together two or more parties that can be programmed electronically and then execute its terms automatically, once certain events or specific conditions are met and it depends on blockchain technology. This paper intends to elucidate this contract at the practical level, and then explains the legal frameworks from Islamic Perspective, by mentioning examples of legal contracts named in Islamic jurisprudence and shows similarities along with an analysis of the jurisprudential problems. The research concluded that there are jurisprudential contracts that are consistent with smart contracts, even in some parts through which the framework of the contract can be constructed from the jurisprudential point of view. The research used the descriptive and analytical method. The researchers concluded that a smart contract can be used in Islamic business framework as long as it meets the requisite legal elements as required under the Shariah principles.