Overview of Blockchain Implementation on Islamic Finance: Saadiqin Experience

Abstract

Saadiqin is an industrial solution for contract based Islamic core banking which comply with the necessary pillars and conditions related to Muamalah Financial Contracts. The introduction of Blockchain provides new opportunities for financial services to harness the benefits of Blockchain. This paper discusses current problem with financial services particularly Islamic financial, the benefits of Blockchain implementation in financial services and the possibility of Saadiqin integration with Blockchain. Overall structure of integration is presented and initial progress is presented in this paper.