Cryptocurrency As The Future For Society (original) (raw)
Cryptocurrency is a fast-growing medium of exchange in today’s financial technology (i.e. Fintech). This digital currency has features such as secure online payments, transparency in transactions, making it hard to be printed by the central bank. Decentralised by millions of computers around the world, cryptocurrencies render features that are theoretically immune to manipulation and interference. This digital asset vibrates in the current Islamic economy, as the demands for Bitcoins, Ethereum surged, provoking debates among scholars on its permissibility for the future of the Islamic economy. Furthermore, the interest for this innovation extends into the Gulf and Southeast Asia countries, and at the time of writing this paper, regulators, Shariah scholars, practitioners and academics have begun to see its significance in the financial services industry; some tested the technology. But do we know its advantages, and do we sit well with Shariah to benefit the international community?
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