Smart Contracts Used in the Blockchain: A Juristic Stud
Objectives: Clarify the ruling on forming smart contracts using the blockchain technology, and the related conditions and pillars of legality. Methods: A descriptive approach to describe smart contracts and the pillars on which they are based, an inductive approach by extrapolating the scientific...
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | Arabic |
| Published: |
Deanship of Scientific Research (DSR), the University of Jordan
2022-06-01
|
| Series: | دراسات: علوم الشريعة والقانون |
| Subjects: | |
| Online Access: | https://dsr.ju.edu.jo/djournals/index.php/Law/article/view/1510 |
| _version_ | 1797783469245333504 |
|---|---|
| author | Saba mohammed mostafa Alboul Hayel Abd-alHafeez Yousef Dawood |
| author_facet | Saba mohammed mostafa Alboul Hayel Abd-alHafeez Yousef Dawood |
| author_sort | Saba mohammed mostafa Alboul |
| collection | DOAJ |
| description |
Objectives: Clarify the ruling on forming smart contracts using the blockchain technology, and the related conditions and pillars of legality.
Methods: A descriptive approach to describe smart contracts and the pillars on which they are based, an inductive approach by extrapolating the scientific material related to the topic of research from ancient fiqh books, contemporary books, and an analytical approach to clarify the legality of smart contracts using the blockchain, its pillars and related conditions.
Results: The concept of smart contracts that are formed using blockchain is a contemporary technological term, and there is no agreement on an overarching definition of it. This is because the technology through which these contracts are formed is constantly evolving. The study also found that blockchain technology is the infrastructure for implementing smart contracts, and it is a special type of decentralized database. It also concluded that the pillars of the smart contract, such as the formulation, the contracting parties, and the subject of the contract are in essence compatible with the pillars of the contract in Islamic jurisprudence. The legality of smart contracts used in the blockchain is determined by the smart contract through which they are made, and the legal ruling for conducting contracts using the blockchain follows the contract that is done through it. The principle in these contracts and the contractual conditions based on them is that they are permissible as long as they do not violate Shari’a when concluding them via blockchain.
Conclusions: Examining the possibility of benefiting from blockchain technology in developing financing formulas in Islamic banks.
|
| first_indexed | 2024-03-13T00:26:28Z |
| format | Article |
| id | doaj.art-bf5645428c974de7b8960afc598b06e7 |
| institution | Directory Open Access Journal |
| issn | 1026-3748 2663-6239 |
| language | Arabic |
| last_indexed | 2024-03-13T00:26:28Z |
| publishDate | 2022-06-01 |
| publisher | Deanship of Scientific Research (DSR), the University of Jordan |
| record_format | Article |
| series | دراسات: علوم الشريعة والقانون |
| spelling | doaj.art-bf5645428c974de7b8960afc598b06e72023-07-11T06:27:31ZaraDeanship of Scientific Research (DSR), the University of Jordanدراسات: علوم الشريعة والقانون1026-37482663-62392022-06-0149210.35516/law.v49i2.1510Smart Contracts Used in the Blockchain: A Juristic StudSaba mohammed mostafa Alboul0Hayel Abd-alHafeez Yousef Dawood1The University of JordanThe University of Jordan Objectives: Clarify the ruling on forming smart contracts using the blockchain technology, and the related conditions and pillars of legality. Methods: A descriptive approach to describe smart contracts and the pillars on which they are based, an inductive approach by extrapolating the scientific material related to the topic of research from ancient fiqh books, contemporary books, and an analytical approach to clarify the legality of smart contracts using the blockchain, its pillars and related conditions. Results: The concept of smart contracts that are formed using blockchain is a contemporary technological term, and there is no agreement on an overarching definition of it. This is because the technology through which these contracts are formed is constantly evolving. The study also found that blockchain technology is the infrastructure for implementing smart contracts, and it is a special type of decentralized database. It also concluded that the pillars of the smart contract, such as the formulation, the contracting parties, and the subject of the contract are in essence compatible with the pillars of the contract in Islamic jurisprudence. The legality of smart contracts used in the blockchain is determined by the smart contract through which they are made, and the legal ruling for conducting contracts using the blockchain follows the contract that is done through it. The principle in these contracts and the contractual conditions based on them is that they are permissible as long as they do not violate Shari’a when concluding them via blockchain. Conclusions: Examining the possibility of benefiting from blockchain technology in developing financing formulas in Islamic banks. https://dsr.ju.edu.jo/djournals/index.php/Law/article/view/1510Smart contracts, block chain, development, financial transactions, pillars of the contract |
| spellingShingle | Saba mohammed mostafa Alboul Hayel Abd-alHafeez Yousef Dawood Smart Contracts Used in the Blockchain: A Juristic Stud دراسات: علوم الشريعة والقانون Smart contracts, block chain, development, financial transactions, pillars of the contract |
| title | Smart Contracts Used in the Blockchain: A Juristic Stud |
| title_full | Smart Contracts Used in the Blockchain: A Juristic Stud |
| title_fullStr | Smart Contracts Used in the Blockchain: A Juristic Stud |
| title_full_unstemmed | Smart Contracts Used in the Blockchain: A Juristic Stud |
| title_short | Smart Contracts Used in the Blockchain: A Juristic Stud |
| title_sort | smart contracts used in the blockchain a juristic stud |
| topic | Smart contracts, block chain, development, financial transactions, pillars of the contract |
| url | https://dsr.ju.edu.jo/djournals/index.php/Law/article/view/1510 |
| work_keys_str_mv | AT sabamohammedmostafaalboul smartcontractsusedintheblockchainajuristicstud AT hayelabdalhafeezyousefdawood smartcontractsusedintheblockchainajuristicstud |