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Article
P2P islamic investments using blockchain, smart contract and E-negotiation
Journal of Theoretical and Applied Information Technology
  • Hasan Al-Sakran, King Saud University
  • Ons Al-Shamaileh, Zayed University
Document Type
Article
Publication Date
1-15-2021
Abstract

© 2005 - ongoing JATIT & LLS Blockchain is receiving an increasing attention from industry and academia as a breakthrough technology that could provide enormous benefits to different sectors. Financial sector is one of those sectors that started to consider applying blockchain. However, it is still in its initial stages. The objective of this paper is to apply blockchain and smart contract technologies in managing investments that implement real Islamic investment policy (profit- loss-sharing agreement), this will result in easier, faster, secure and transparent investment transactions to both investors and entrepreneurs (or businesses). This work proposes a design of middleware infrastructure that implements the real Islamic investment policy (profit-loss-sharing rate) called Musharakah (joint venture), where investors and entrepreneurs share a pre-agreed percentage of profit or loss from the financed project. The platform acts as a trusted third party without the need for another mediator; it will help both investors and entrepreneurs negotiate their terms.

Disciplines
Keywords
  • Blockchain,
  • E-Negotiation,
  • Islamic profit-loss-sharing agreement,
  • Peer-to-peer investment,
  • Smart contract
Scopus ID
85101361310
Indexed in Scopus
Yes
Open Access
Yes
Open Access Type
Bronze: This publication is openly available on the publisher’s website but without an open license
http://www.jatit.org/volumes/ninetynine1.php
Citation Information
Hasan Al-Sakran and Ons Al-Shamaileh. "P2P islamic investments using blockchain, smart contract and E-negotiation" Journal of Theoretical and Applied Information Technology Vol. 99 Iss. 1 (2021) p. 59 - 74 ISSN: <a href="https://v2.sherpa.ac.uk/id/publication/issn/1992-8645" target="_blank">1992-8645</a>
Available at: http://works.bepress.com/ons-al-shamaileh/2/