Smart Contracts and Related Collection Terms

Authors

  • Sumaia Ali Mohammad Al-Omari Department of Hanafi Jurisprudence, Faculty of Al-Hanafi Jurisprudence, The World Islamic Sciences & Education University, Jordan https://orcid.org/0009-0003-3797-1505

DOI:

https://doi.org/10.35516/law.v51i1.2833

Keywords:

Smart contracts, block chain, financial receipt, bank entry, digital signatures

Abstract

Objectives: The research aims to highlight the most important “financial receipts” provisions in smart contracts through block chain technology. To that end, the study investigated this topic through three claims: first; smart contracts, second; the relationship between smart contracts and block chain, and the third is the provisions of financial receipt within smart contracts.

Methods: the Research adopted the descriptive approach through describing smart contracts in terms of their nature and relation to block chain technology, and the inductive approach by tracing this technology from the specialized research, the analytical approach has also been used to analyze the contractual processes in which they take place and the way they are received to reach appropriate legal provisions

Results: The study found that any financial receipt made in smart contracts is a bylaw receipt that takes the provision of a bank entry, and that the price of a valuator's financial receipt through digital signatures adopted by the WTO World Trade Organization as a means of recording property. The study also found that, unlike contracts conducted through public networks, smart contracts conducted through private networks were those that met legitimate conditions.

Conclusions: The study recommends benefiting from experiences of countries that have adopted these contracts in their modern system, thus helping to avoid many of the problems they face.

Downloads

Download data is not yet available.

References

Al-Borai, A. (2020). Creating and implementing smart contracts between traditional methods, blockchain technology and smart contracts: a comparative study. Journal of the College of Islamic and Arabic Studies , -Cairo, 39(4).

Alboul, S. mohammed mostafa, & Dawood, H. A.- alHafeez Y. (2022). Smart Contracts Used in the Blockchain: A Juristic Stud. Dirasat: Shari’a and Law Sciences, 49(2), 47–70. https://doi.org/10.35516/law.v49i2.1510

Al-Tasouli, A. (1998). The joy in explaining the masterpiece. 1st ed.). Beirut: Dar Al-Kutub Al-Ilmiyya.

Jaber, A. (2020). Blockchain and digital proof in the field of copyright.International Journal of Jurisprudence, Judiciary and Legislation, 1.

Al-Hajjaj, M. (n.d). Al-Musnad Al-Sahih Brief Transfer of Justice from Justice to the Messenger of God: Sahih Muslim. Beirut: House of Revival of Arab Heritage.

Al-Khattabi, H. (1932). Milestones of Sunan. (1st ed.). Aleppo: Scientific Press.

Debian, D. (2011). Authentic and Contemporary Financial Transactions. (2nd ed.). Riyadh: King Fahd National Library.

Al-Saadi, M. (2020). Issuing cryptocurrencies: restrictions and effects: A jurisprudential study.University of Islamic Sciences.

Al-Shater, M. (2019). The technology of trust chains (Blockchain) and its effects on Islamic banking finance. Journal of Research and Applications in Islamic Finance, = Malaysia, 3(2).

Shubeir, M. (2014). Jurisprudential adaptation of emerging facts and its jurisprudential applications. Damascus: Dar Al-Qalam.

Al-Sawy, A. (2020). Smart contracts and their provisions in Islamic jurisprudence. The website of the Islamic Economy Journal on the Internet, 491.

Dabash, A. (2018). Smart Contract Technology and its Impact on the Stability of Financial Transactions: A Jurisprudential Study, Conference on the Role of Sharia and Law in Stabilizing Societies, Al-Azhar University - Faculty of Sharia and Law in Cairo.

Ibn Abidin, M. (1992). Al-Muhtar's Response to Al-Durr Al-Mukhtar. (2nd ed.). Beirut: Dar Al-Fikr - Beirut, 2nd Edition, 1992.

Al-Aqeel, A. (2020). Blockchain technology: its adaptation and its jurisprudential applications. Journal of the Islamic University of Sharia Sciences, = Al-Madinah Al-Munawwarah, 194(2).

Al-Omari, S. (2022). Smart Contracts and Their Provisions in Islamic Jurisprudence: A Comparative Jurisprudential Study. Ph.D. Thesis,International University of Islamic Sciences.

Abu Ghuddah, A. (2019). Smart Contracts, Digital Banks and Blockchain. UAE: Al Baraka Symposium on Islamic Economy,.

Ibn Faris, A. (1979). Language standards. Dar al-Fikr.

Faddad, A. (2019). Smart Contracts, International Islamic Fiqh Academy Conference, 24th session, Dubai, United Arab Emirates.

Qahf, M. Al-Omari, M. (2019). Smart Contracts, International IslamicFiqh Academy Conference, 24th session, Dubai, United Arab Emirates.

Ibn Qudamah, A. ( 1968). Al-Mughni. Cairo Library.

Kalaji, M., & Quneibi, H. (1988). A Dictionary of the Language of the Jurists. (2nd ed). Dar Al-Nafais,

Qasumi, N. (2021). Blockchain Technology Applications in Libraries. The Comprehensive Multidisciplinary Electronic Journal, 37(6).

Al-Kasani, A. (1986). Badaa' al-Sana'i Fi Arranging Laws. (2nd ed.). Dar al-Kutub al-Ilmiyya.

Al-Nawawi, Y. (n.d). Al-Majmoo' Sharh Al-Muhadhab. Dar Al-Fikr.

Wahba, A. (2021). The concept of the smart contract from the perspective of civil law: an analytical study. Journal of Economic, Administrative and Legal Sciences, 5(8).

.Atlam, F. (2018). Intelligent Systems and Applications: Blockchain with Internet of Things Benefits, Challenges, and Future Directions.

Daley, S. (2021). Blockchain Companies Paving the Way for the Future, July 13, 2021.

Gatteschi, V., Lamberti, F., Demartini, C., Pranteda, C., & Santamaría, V. (2018). Blockchain and smart contracts for insurance: Is the technology mature enough?. Future internet, 10(2), 20.

Von Haller Gronbaek, M. (2016). Blockchain 2.0, smart contracts and challenges. Comput. Law, SCL Mag, 1, 1-5.

Hu, Y., Liyanage, M., Mansoor, A., Thilakarathna, K., Jourjon, G., & Seneviratne, A. (2018). Blockchain-based smart contracts-applications and challenges. arXiv preprint arXiv:1810.04699.

Khan, U., An, Z. Y., & Imran, A. (2020). A blockchain ethereum technology-enabled digital content: development of trading and sharing economy data. IEEE access, 8, 217045-217056.

Kirbac, G., & Tektas, B. (2021, March). The Role of Blockchain Technology in Ensuring Digital Transformation for Businesses: Advantages, Challenges and Application Steps. In Proceedings (Vol. 74, No. 1, p. 17). MDPI.

Mokdad, I., & Hewahi, N. M. (2020). Empirical evaluation of blockchain smart contracts. Decentralised Internet of Things: A Blockchain Perspective, 45-71.

Roger, R. & et.al(2017). Arbitrating smart contract disputes. PSmart Contracts & International Arbitration.

Shehata, I. (2018). Smart Contracts & International Arbitration. Available at SSRN 3290026.

Published

2024-03-15

How to Cite

Al-Omari, S. A. M. . (2024). Smart Contracts and Related Collection Terms. Dirasat: Shari’a and Law Sciences, 51(1), 97–107. https://doi.org/10.35516/law.v51i1.2833

Issue

Section

Shari'a
Received 2022-10-20
Accepted 2023-05-30
Published 2024-03-15