Forecasting the Adapted-Meta Technology on Shariah Compliant Mortgage

Abstract

Currently our life has stormed by fast development of meta-technology that could transform physical being into digital verse.This fact has affected many issues, one of which is mortgage activities.The problem is that we tend to follow debating issues on its several controversies and not trying to foretell on what side it could be a shariah compliant.The study aims to forecast meta-mortgage activities in accordance with Islamic Shariah.This article uses qualitative study which employs secondary data.Those data analyzed through desk activities and it narrated descriptively in consecutive logical structure.There are two issues that have been discussed by Islamic scholars on Islamic mortgage, both are utilization of cryptocurrency and the Non-Fungible Tokens (NFTs).The based issue on cryptocurrency is its volatility and the issue behind NFTs is its legal ownership that frequently has been violated.The adaptation of metaverse on mortgage activity will not occur when both mentioned-issues are not legally cleared.Thus, the possible image of the adaptation is likely in the far future, it depends on how far the legal regulation (laws and fatwas) will answer the shariah compliant on metamortgage.