An Evaluation of Bitcoin From Shariah Perspective

Abstract

Bitcoin is one of the most successful cases of blockchain use. The objective of this paper is to examine the characteristics of cryptocurrencies, with a specific emphasis on bitcoin. The fundamental attributes, features of bitcoin and how they operate on blockchain are evaluated from the Shariah perspective to determine if they are consistent with Shariah principles. To accomplish the objective, the authors adopted a qualitative secondary analysis (QSA) approach by utilizing the existing data.