BLOCKCHAIN TECHNOLOGY INNOVATION AS AN OPTIMIZATION OF TRANSACTION SECURITY IN ISLAMIC FINANCIAL INSTITUTIONS
##plugins.themes.academic_pro.article.sidebar##
Downloads
##plugins.themes.academic_pro.article.main##
Abstract
This study examines the role of blockchain technology in enhancing security within Islamic financial institutions, which adhere to Sharia principles emphasising transparency, fairness, and ethical conduct. The primary purpose is to explore blockchain’s potential to address financial risks and inefficiencies while ensuring compliance with Islamic values. Islamic financial institutions face challenges maintaining transaction security and transparency under Sharia constraints, especially as risks like fraud, manipulation, and operational inefficiencies persist. Blockchain’s decentralised ledger system offers solutions by ensuring immutable transaction records, real-time transparency, and secure cryptographic frameworks. Smart contracts further automate Sharia-compliant processes, reducing risks of non-compliance and fraud, while operational efficiencies are achieved through reduced costs and faster transaction processing. However, implementing blockchain in Sharia financial institutions faces limitations, including a lack of technical expertise, regulatory clarity, and inadequate infrastructure in many regions. These barriers highlight the need for capacity-building initiatives and robust regulations to support blockchain adoption in Islamic finance. The study emphasises blockchain’s transformative potential to revolutionise Islamic finance, fostering trust and operational excellence while overcoming current barriers through collaborative efforts. Further research is necessary to optimise blockchain’s integration into this sector.
##plugins.themes.academic_pro.article.details##
References
- Abbas, Ahmad, Wa Ode Rayyani, and Rini Purnamasari. “Sharia Banks And Their Business Earnings: An Empirical Exploratory of The Case of Indonesia.” Airlangga International Journal of Islamic Economics and Finance 3, no. 1 (June 25, 2020): 31. https://doi.org/10.20473/aijief.v3i1.19326.
- Agung Pangestu, Dimas. “Penggunaan Teknologi Blockchain dalam Transaksi Keuangan Syariah.” Master’s Thesis, Universitas Islam Indonesia, Yogyakarta, Indonesia, 2023. https://dspace.uii.ac.id/handle/123456789/46344?show=full
- Agustin, Hamdi. “Teori Bank Syariah.” JPS (Jurnal Perbankan Syariah) 2, no. 1 (April 9, 2021): 67–83. https://doi.org/10.46367/jps.v2i1.279
- Alvi Khikmatin and Putri Setianingsih. “Analisis Peluang dan Tantangan Lembaga Keuangan Syariah Dalam Upaya Meningkatkan Daya Saing Terhadap Lembaga Keuangan Konvensional Di Indonesia.” Al-Iqtishod : Jurnal Ekonomi Syariah 3, no. 1 (June 5, 2021): 49–62. https://doi.org/10.51339/iqtis.v3i1.257
- Arafah, Muh. “SISTEM KEUANGAN ISLAM: SEBUAH TELAAH TEORITIS.” Al-Kharaj: Journal of Islamic Economics and Business 1, no. 1 (June 3, 2019). https://doi.org/10.24256/kharaj.v1i1.801
- “Badan Kebijakan Fiskal - Keuangan Syariah Sangat Berperan Dalam Pemulihan Ekonomi Nasional.” Accessed February 3, 2024. https://fiskal.kemenkeu.go.id/baca/2021/08/25/4308-keuangan-syariah-sangat-berperan-dalampemulihan-ekonomi-nasional
- Bahanan, Muhammad, and Muhammad Wahyudi. “Analisis Pengaruh Penggunaan Teknologi Blockchain Dalam Transaksi Keuangan Pada Perbankan Syariah.” I’THISOM: Jurnal Ekonomi Syariah 2, no. 1 (2023): 43–54. https://doi.org/10.70412/its.v2i1.42
- Daniel Sembiring, Akhmad. Sistem Pemilihan Umum Digital Dengan Teknologi Blockchain. Vitraining, 2023
- Dewi, Arlinta Prasetian, and Mohammad Ichsan Hakiki. “Transformasi Digital dalam Industri Halal di Indonesia (Studi Implementasi Teknologi Blockchain dalam Proses Sertifikasi Halal).” Indo-Fintech Intellectuals: Journal
- of Economics and Business 3, no. 2 (September 20, 2023): 360–70. https://doi.org/10.54373/ifijeb.v3i2.240
- Djumadi. “Teknologi Blockchain Dalam Perspektif Ekonomi Islam/Keuangan Islam”. Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah 6, no. 4 (2024):4335-4351. https://doi.org/10.47467/alkharaj.v6i4.887
- Don Tapscott, and Alex Tapscott. Blockchain Revolution: How the Technology Behind Bitcoin Is Changing Money, Business, and the World. Penguin, 2016
- Farid, Diana, Muhammad Husni Abdulah Pakarti, Iffah Fathiah, and Hendriana Hendriana. “Pengaruh Zakat Digital Terhadap Pengentasan Kemiskinan di Era Digital.” JSE: Jurnal Sharia Economica 2, no. 2 (August 2, 2023): 1–11. https://doi.org/10.46773/jse.v2i2.679
- “Fokus Di Konsumsi, Ekonomi Digital RI Tertinggal Jauh Dari India.” Accessed February 4, 2024. https://www.cnnindonesia.com/ekonomi/20230308125226-532-922379/fokus-di-konsumsi-ekonomi-digital-ritertinggal-jauh-dari-india
- Hanafi, Akhmad Ilham, and M Aditya Firdaus. “Mengeksplorasi Dampak Inovasi Teknologi Terbaru dalam Investasi Syariah” 1 (2023)
- Ihsan, Rafiqi. “Peluang Dan Tantangan Penggunaan Blockchain Technology Pada Perbankan Syariah Di Indonesia”. Jurnal Ekonomi dan Bisnis 11, no. 3 (2022): 1037-1049. https://doi.org/10.34308/eqien.v11i03.1166
- Indraprakoso, Dondy and Haripin. “Eksplorasi Potensi Penggunaan Blockchain Dalam Optimalisasi Manajemen Pelabuhan di Indonesia: Tinjauan Literatur.” Sanskara Manajemen Dan Bisnis 1, no. 03 (July 31, 2023): 140–60. https://doi.org/10.58812/smb.v1i03.131
- Muheramtohadi, Singgih. “Peran Lembaga Keuangan Syariah Dalam Pemberdayaan UMKM Di Indonesia,” 2017, 66
- Mustikarini, Arizona dkk. Agenda Riset Bisnis Dan Ekonomi Topik Terkini Terbarukan. Yogyakarta: AMDI Angggota IKAPI), 2022
- Nababan, Willy Medi Christian. “SDM Indonesia Dinilai Belum Siap Manfaatkan Kecerdasan Buatan.” kompas.id, May 14, 2023. https://www.kompas.id/baca/ekonomi/2023/05/14/sdm-indonesia-belum-siapmanfaatkan-ai
- Priyadi, Ungguh. Bank Dan Lembaga Keuangan Syariah, Modul Eksa4206, n.d.
- Priyatno, Prima Dwi, Lili Puspita Sari, and Isti Nuzulul Atiah. “Penerapan Maqashid Syariah pada Mekanisme Asuransi Syariah.” Journal of Islamic Economics and Finance Studies 1, no. 1 (August 12, 2020): 1. https://doi.org/10.47700/jiefes.v1i1.1927
- Rahman, Rizki Lail. “Penggunaan Teknologi Blockchain Sebagai Solusi Keamanan Data Sistem Informasi,” n.d
- Ramadhani, Andini, Dhina Aprilia Ananda, and Zul Azmi. “Teknologi Blockchain dan Sistem Akuntansi: Potensi dan Tantangan” 1, no. 1 (2024)
- Salsabila, Lutfia, Mahira Fikriya, Farid Abdullah, and Muhammad Affan.“Pemanfaatan Teknologi Blockchain Dalam Pengelolaan Dana Wakaf ”. Jurnal Ekonomi Dan Bisnis Digital 1, no. 2 (2023): 233-244
- Septianda, Daffa Eka, Sitti Fatimah Khairunnisaa, and Rachma Indrarini. “Blockchain Dalam Ekonomi Islam.” Sibatik Journal: Jurnal Ilmiah Bidang Sosial, Ekonomi, Budaya, Teknologi, dan Pendidikan 1, no. 11 (October 30, 2022): 2629–38. https://doi.org/10.54443/sibatik.v1i11.407
- Siti Hajar, Wirman. “Implementasi Manajemen Risiko Dalam Dunia Perbankan Syariah,” March 21, 2023. https://doi.org/10.5281/Zenodo.7756555
- “Sumber Daya Manusia Jadi Kunci Tingkatkan Ekosistem Blockchain Dan Industri Kripto - TribunNews.Com.” Accessed February 4, 2024. https://www.tribunnews.com/bisnis/2022/01/06/sumber-daya-manusia-jadikunci-tingkatkan-ekosistem-blockchain-dan-industri-kripto
- “Systematic Literatur Review Dengan Metode Prisma: Dampak Teknologi Blockchain Terhadap Periklanan Digital.” Jurnal Ilmiah M-Progress 14, no. 1 (January 25, 2024). https://doi.org/10.35968/m-pu.v14i1.1182
- Taufiq, M. “Optimalisasi Peran Dewan Pengawas Syariah di Lembaga Keuangan Mikro Syariah.” Al-Huquq: Journal of Indonesian Islamic Economic Law 2, no. 1 (July 24, 2020): 74. https://doi.org/10.19105/alhuquq.v2i1.3350
- World Bank. Blockchain: Opportunities for Private Enterprises in Emerging Markets. Washington DC: World Bank, 2019

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.