The Validity of Cryptocurrencies in Shariah
This paper takes into see the conditions that render a venture or exchange haram in Islam and relates them to cryptographic forms of money through a writing research philosophy. Moreover, components that exist in the digital currency biological system, for example, tokens, introductory coin contribu...
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| Format: | Article |
| Language: | Arabic |
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Bahauddin Zakariya University
2020-12-01
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| Series: | Pakistan Journal of Islamic Research |
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| Online Access: | http://pjir.bzu.edu.pk/website/journal/article/600e76c3989a6/page |
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| _version_ | 1849714556300951552 |
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| author | Ihsan ur Rahman Ghauri Ghulam Mustafa |
| author_facet | Ihsan ur Rahman Ghauri Ghulam Mustafa |
| author_sort | Ihsan ur Rahman Ghauri |
| collection | DOAJ |
| description | This paper takes into see the conditions that render a venture or exchange haram in Islam and relates them to cryptographic forms of money through a writing research philosophy. Moreover, components that exist in the digital currency biological system, for example, tokens, introductory coin contributions (ICOs) and cryptographic money subordinates are evaluated to check concerning whether they are viable with Islam. The contrast among Bitcoin and its choices is additionally perceived by examining their hidden innovation and how they could be a significant instrument in characterizing whether a cryptographic money falls in the Islamic reasonability standards. It infers that in spite of the fact that the innovation of cryptographic forms of money in itself is Halal; various angles contribute in choosing whether the particular advanced cash being referred to is Halal or Haram. Future exploration is required on several central points of interest identified with Proof of Stake convention which has been examined. |
| format | Article |
| id | doaj-art-d98bd7aea4074a80a08ab6349d3dde19 |
| institution | DOAJ |
| issn | 2070-0326 2618-0820 |
| language | Arabic |
| publishDate | 2020-12-01 |
| publisher | Bahauddin Zakariya University |
| record_format | Article |
| series | Pakistan Journal of Islamic Research |
| spelling | doaj-art-d98bd7aea4074a80a08ab6349d3dde192025-08-20T03:13:40ZaraBahauddin Zakariya UniversityPakistan Journal of Islamic Research2070-03262618-08202020-12-012124554600e76c3989a6The Validity of Cryptocurrencies in ShariahIhsan ur Rahman Ghauri0Ghulam Mustafa1Institute of Islamic Studies, University of the Punjab, Lahore.Assistant Professor of Islamiat, Govt. College (Boys) Gulberg, Lahore.This paper takes into see the conditions that render a venture or exchange haram in Islam and relates them to cryptographic forms of money through a writing research philosophy. Moreover, components that exist in the digital currency biological system, for example, tokens, introductory coin contributions (ICOs) and cryptographic money subordinates are evaluated to check concerning whether they are viable with Islam. The contrast among Bitcoin and its choices is additionally perceived by examining their hidden innovation and how they could be a significant instrument in characterizing whether a cryptographic money falls in the Islamic reasonability standards. It infers that in spite of the fact that the innovation of cryptographic forms of money in itself is Halal; various angles contribute in choosing whether the particular advanced cash being referred to is Halal or Haram. Future exploration is required on several central points of interest identified with Proof of Stake convention which has been examined.http://pjir.bzu.edu.pk/website/journal/article/600e76c3989a6/pageCryptocurrenciesProtocolHalalHaramDerivatives |
| spellingShingle | Ihsan ur Rahman Ghauri Ghulam Mustafa The Validity of Cryptocurrencies in Shariah Pakistan Journal of Islamic Research Cryptocurrencies Protocol Halal Haram Derivatives |
| title | The Validity of Cryptocurrencies in Shariah |
| title_full | The Validity of Cryptocurrencies in Shariah |
| title_fullStr | The Validity of Cryptocurrencies in Shariah |
| title_full_unstemmed | The Validity of Cryptocurrencies in Shariah |
| title_short | The Validity of Cryptocurrencies in Shariah |
| title_sort | validity of cryptocurrencies in shariah |
| topic | Cryptocurrencies Protocol Halal Haram Derivatives |
| url | http://pjir.bzu.edu.pk/website/journal/article/600e76c3989a6/page |
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