İslam Hukuku Açısından Kripto Paralar ve Blockchain Şifreleme Teknolojisi

Abstract

Money as a concept has changed throughout history, depending on needs and advances in technology. After electronic money, currently the concept of crypto currency has come to dominate the agenda of all, be it small savers or states. The concept and the system of crypto currency needs to be studied on the basis of not only informatics and economics, but also religion and law. Instead of supporting or opposing the crypto currency system a priori, a multidimensional assessment of the subject is needed by taking into account the evolution of concepts and systems such as stock exchange, banking and credit. This article will try to address the subject from an Islamic law perspective by comparing different approaches.

Cryptocurrencies in the Perspective of Accounting and Finance

“…Ancak, bunun tam karşısında yer alan görüşlere de yer verilmiştir. Kripto paraların karşılığının olmamasının direkt olarak haram görülemeyeceği ve aynı zamanda bankacılık sektöründen daha basit ile daha hızlı olması sebebiyle halkın işine yarayacağı kanaatinde bulunulmuştur (Doğan, 2018).…”

Modeling the Volatility of Bitcoin Returns Using EGARCH Method

“…Based on this definition, the absence of the institutions authorized for monetization in the process implies that the crypto-currencies are independent of any state or governmental institution. Moreover, besides the fact that no central authority is necessary for creating them, the crypto-currencies do not require any commercial bank or electronic money transfer institution for the transfer or storage (Doğan, 2018;235). The crypto-currencies, which are also known as coded currencies, are created through the codes based on a specific transaction.…”

Fundamentals of Novel Islamic Monetary System for the Contemporary Age

“…Blockchain is a technology that allows all records to be stored in digital media by encrypting them. Although the accounting registry system is seen as a general ledger, it is not a singlecenter system, and the records are available in all members as blockchains (Dogan, 2018). The above-mentioned exchange deed, which is the money transfer and registration system created by Muslims.…”

“…This will directly affect the payable tax and lack of information. Along with this, the circulation of Islamically appropriate cryptocurrencies will allow the informal economy to be prevented, and an effective taxation structure will be built (Dogan, 2018). Although the formal economy increase will constitute an effective tax system, taxes are not appropriate and are prohibited in Islam.…”

“…On the other hand, the study mentioned above did not refer to the issues regarding money formation, the problems in today's monetary system, and the Islamic solution proposals for these problems. Dogan (2018) introduces the types, features, and quality of money that has been used in the market since the time of the Prophet (PBUH). The article, then discusses the positive and negative sides of cryptocurrencies.…”