Abstract: Charity is an act of kindness, wherein a person who has financially more than enough of what he needs contributes part of his surplus earnings for the fulfillment of the needs of folks who are much less capable. The charity organizations lack transparency and the supervision of them is difficult to achieve, which has a negative impact on the willingness of the people to donate. Blockchain as an underlying technology provides a new solution for the charity system in terms of technology. This project proposed a charity system (D-Donation) based on blockchain technology and expounds the design pattern, architecture and operational process of the platform. Some core functions of the D-Donation app have been realized and verified on Polygon Blockchain. Through this we hope to increase the transparency of charities to enhance the public's trust in charities and promote the development of philanthropy by blockchain-based charity system. Keyword: Blockchain, Ethereum, Polygon, Solidity, Smart contracts, Metamask, Javascript, Node js, React JS, Ethers js, Hardhat.
Muhammad Al Ikhwan Bintarto, Yudi Setiawan, Muhammad Uwais Alqarni, Faishal Hilmi
Cryptocurrency is a virtual currency based on blockchain. Yet, some countries forbid it as a means of payment in transactions. It can only be used as diversification in investment. In fact, cryptocurrency is a liquid asset even though it fluctuates. In Islam, there are different views whether cryptocurrency can be assets or can be zakah, infaq, sadaqah, and waqf. The object of this study is to answer whether the crypto can be al-amwal azzakawiyah or something that can be zakah and waqf which can be maslahah for the society. Another purpose of this research is to enlighten about zakah and waqf managers on what cryptocurrency for. The theory used is the theory of zakah and waqf in Islam. This is qualitative study with a conceptual approach and an Islamic law approach. The result of this research is that cryptocurrency can be said as wealth or al-maal that can be zakah, infaq, and waqf because it has fulfilled several requirements to be classified as wealth or al-maal in Islam. Zakah calculation of crypto currency must exceed the nisab 2,5% equivalent to 85 grams of gold, the owned can already be an object of zakah.
This research analyzes cryptocurrency fundamentals during the pandemic COVID-19 significantly affected cryptocurrencies during a brief period of financial panic. Technological advances resulted in the shift of traditional currencies towards digitalization. Volume and market cap variables are used as independent variables. The cryptocurrencies in this study are Bitcoin, Ethereum, Binance Coin, Ripple, and Dogecoin, which have the top 10 largest market capitalization. The research data was taken on the CoinMarketcap.com website from the beginning of the pandemic in Indonesia in March 2020 – to February 2021. The results showed that the Market Cap of Bitcoin, Ethereum, Binance Coin, Ripple, and Dogecoin had a significant effect on the price. Furthermore, the volume of Bitcoin, Ethereum, Binance, and Dogecoin has an effect and is significant on the price. In comparison, Ripple Volume has no effect and is not significant to the price. This implies that highly speculatively priced cryptocurrencies have the same fundamental value as stock prices.
The existence of cryptocurrencies that have emerged and developed since the last decade is still a debate, both in terms of function, regulation and compliance with Islamic economic principles. Different countries give different attitudes towards cryptocurrencies. Some countries accept its existence, while some other countries reject it. This is inseparable from the question that arises whether cryptocurrencies function as money or commodities. In addition, the absence of an official institution that is responsible for and regulates the circulation of cryptocurrencies and no underlying assets is also another problem. This article aims to see how cryptocurrencies are positioned based on their nature, characteristics and functions using an Islamic finance point of view. The results of the study indicate that cryptocurrencies currently carry out more functions as a store of value that are not in accordance with the Islamic financial system. In addition, the use of cryptocurrencies as money and means of payment carries a fairly large risk. This violates the principle of property protection in the maqasid al-shari'ah view.
In this modern era, sellers will do their best to have people purchase their things. Globalisation era has a strong connection to advanced technologies. It is not only science that gets more advanced, almost every aspect in modern society will grow and develop better and better. Nowadays, peopla do not only use physical currency such as coins and money. People now are being exposed to Bitcoin. It is a new means of transaction that has been widely known for the last 4 years. Digital money such as bitcoin kind of has complicated calculation, thus its nominal gets bigger and bigger each year. This bitcoin phenomenon is not only popular in indonesia. Some other countries even try to ban it. However, there are more countries that make bitcoin legal. In indonesia, bitcoin users are not proected by any laws if some unexpected circumtances happen. The reason why cryptocurrency is not legal yet in Indonesia is because bitcoin cannot be easily taxed. It happens because bitcoin is used without any third party; only between bitcoin beholders. The country and its financial departments cannot intervene. Thus, they cannot tax bitcoin beholders, which commonly hold huge nominals that can reach million hundreds of rupiah.
In the era of decentralization, each autonomous region in Indonesia has the capacity and ability to determine the direction of development goals in accordance with the conditions of their respective regions, including managing regional financial resources to achieve national development goals in their regions. Fiscal decentralization is intended to balance the pace of development between regions so that there is no longer a dichotomy of developed and underdeveloped regions because each region has the opportunity to independently finance development in its region according to its regional potential. Law Number 23 of 2014 concerning Regional Government opens wide opportunities for regions to run their government by utilizing available resources in their regions and relying a little on central government assistance. For this reason, the Regional Government tries to use its regional revenue sources as well as possible to finance the ongoing government process. Financial performance ratio analysis is an attempt to assess regional financial performance in order to fulfill the elements of accountability for good governance. This study will discuss the ratio of regional financial performance associated with the ability of the region to finance development in Bondowoso Regency. The analytical method used is an analysis of regional financial performance which includes aspects of the effectiveness ratio, efficiency ratio, independence ratio, activity ratio, and growth ratio. Bondowoso Regency's financial performance during the 2016-2020 period can be said to be overall good in terms of effectiveness ratios and efficiency ratios. The independence ratio still shows the proportion of transfer receipts from the provincial/central government is still greater than the original regional income. The activity ratio illustrates that revenue is still more used to finance operational expenditures compared to capital expenditures (providing infrastructure). Infrastructure financing can use funds sourced from General Allocation Funds, Special Allocation Funds, Regional Loans, government collaboration with business entities, and funds sourced from CSR companies in Bondowoso Regency.
Cryptocurrency is a digital or virtual currency that created due to technological advances. Its purchase transactions take advantage of technological developments that can be done online without going through a bank intermediary, enhanced with the advantages of Blockchain technology. However, cryptocurrency investments have a high risk on their profit and loss value. It isn’t enough to get there, cryptocurrencies also still don’t get the legality in Indonesia. This discussion aims to get clarity on cryptocurrency investments and transactions, also get answers to cryptocurrency law according to Islamic sharia. Based on qualitative descriptions and review of literature studies. The result of this study is that the Islamic financial system provides a view on cryptocurrency investments and transactions with a clear and sourced law from the Qur'an, As-Sunnah, and the results of the cleric' ijtihad. Based on Islamic sharia, investments and transactions used by cryptocurrencies contain elements of maysir (betting) and gharar (uncertainty) because they risk investment goods with unclear value of assets and their real form. The conclusion of this study is that users of cryptocurrencies are justified haram lighairihi as well as syubhat for those who still have doubts. Keywords : Cryptocurrency, Islamic sharia.
Abstract: Non-Fungible Token is a digital asset in the form of a certificate of ownership of an artwork, such as photos, videos, songs, or games in virtual form. These digital assets are stored in the Blockchain. NFT is a derivative of cryptocurrency, and the difference is that crypto-assets such as Bitcoin are the same as physical money because they have an exchange rate and can be traded. Meanwhile, NFT does not have the exact exchange rate because of its unique nature. NFT opens new investment opportunities for investors in the country to market their work in the global market. Since the Ghozali everyday phenomenon, many people have started following Ghozali's steps by selling various kinds of NFTs in the form of selfie ID cards, pornographic content, and self-identity that contain elements of ḍarar. The study method in this research is case study qualitative phenomenology. This study aims to identify and analyze the business of buying and selling NFT on the opensea.io marketplace from an Islamic perspective. This study shows that the more people who can see the opportunities and gaps in the NFT business, the more people will be engaged in the NFT buying and selling business. Buy and sell NFT using cryptocurrency as an illegal commodity to trade because crypto-assets contain elements of gharar, ḍarar, and qimār. Even though the form of this NFT exists, when this NFT is transacted using Cryptocurrencies whose form does not exist, it can be said that this buying and selling transaction is invalid. Keywords: Buy and Sell; NFT; Opensea.io; Artwork. Abstrak: NFT atau Non Fungible Token merupakan aset digital berupa sertifikat kepemilikan sebuah karya seni, seperti foto,vidio, lagu, atau game dalam bentuk virtual. Aset digital ini disimpan dalam blockchain. NFT merupakan turunan dari cryptocurrency, bedanya aset kripto seperti bitcoin sama halnya dengan uang fisik karena memiliki nilai tukar dan dapat diperdagangkan. Sedangkan, NFT tidak memiliki kesamaan nilai tukar karena sifatnya yang unik. NFT membuka peluang investasi baru bagi para investor di tanah air untuk memasarkan karyanya di pasar global. Semenjak fenomena Ghozali Everyday yang menjadikan foto selfinya sebagai NFT ramai diperbincangkan dimedia sosial banyak sekali yang mulai mengikuti jejak Ghozali menjual berbagai macam NFT dalam bentuk selfi KTP, konten pornografi, dan identitas diri yang mengandung unsur ḍarar (bahaya). Metode penelitian dalam penelitian ini ialah kualitatif studi kasus fenomenologi. Tujuan penelitian ini untuk mengetahui dan menganalisa bisnis jual beli NFT pada market place opensea.io dalam perspektif Islam. Hasil penelitian ini menunjukkan Semakin banyak masyarakat yang bisa melihat kesempatan dan celah dari bisnis NFT maka akan semakin banyak masyarakat yang bergerak dalam bisnis jual beli NFT Namun sangat disayangkan untuk saat ini NFT ditransaksikan menggunakan mata uang Cryptocurrency. Jual beli NFT menggunakan mata uang crypto sebagai komoditi haram untuk diperdagangkan. Sebab aset cyripto mengandung unsur gharar, ḍarar, dan qimār. Sekalipun wujud dari NFT ini ada namun ketika NFT ini ditransaksikan menggunakan Cryptocurency yang wujudnya tidak ada maka bisa dikatakan transaksi jual beli ini tidak sah. Kata Kunci: Jual Beli; NFT; Opensea.io; Karya Seni.
Bitcoin is an online payment system of peer-to-peer electronic money that is sent directly from one party to another without going through a financial institution. Bitcoin has characteristics as a currency or medium of exchange because it is accepted as a means of payment by its community. However, there will be a lot of hope that can happen to bitcoin users, namely because bitcoin is al-jahalah (unclear) will cause an element of fraud in buying and selling with bitcoin. So the purpose in this study is to find out how fiqh review is muamalah on buying and selling transactions with bitcoin. This research is qualitative literature (library research). Data collection methods use documentation and data analysis using deductive analysis techniques. The results of this study show that the practice of buying and selling with bitcoin is either aimed at the needs of exchange tools or investment businesses, especially in online financial transactions including from syubhat, and something that syubhat should be abandoned, because it does not bring benefits at once that is the purpose of Islamic sharia, namely its own benefits will not be realized.
Safiani A. Faaroek, Aropria Saulina Panjaitan, Zaleha Fauziah, Nanda Septiani
A certificate is a form of award that is obtained by someone after completing a competency test or certain learning. Certificates must be generated and stored in a safe and secure manner to prevent alteration of content or even falsification. Blockchain technology is a technology that allows secure storage processes at low costs. Security is guaranteed because everyone can take part in storing data with a distributed ledger. Based on the results of research and system design, it can be concluded that the process of making blockchain technology as a medium for issuing certificates and their validation can be made using Ethereum's program, namely Geth, and storing data using smart contracts issued on the blockchain network. The results of the reliability testing of the system show that the system has successfully processed 200 transactions in approximately 8 seconds. For scalability testing, it is estimated that 10 million blocks require a storage capacity of 22.6 GB to become a node or miner on this blockchain network.
The aim of this study is to investigate the effect of regret-aversion bias and overconfidence on millennial investors' cryptocurrency investment decisions. The population in this study are people from Sumatra, Java, and Nusa Tenggara (Bali) who have invested in or only know about cryptocurrencies. For the sampling technique of this study using the Objective Sampling method for a population of 35 people. The method used in this study is a quantitative method using primers which were analyzed by Path Analysis using the Smart Pls 3.0 program. The results obtained in this study indicate that regret-avoidance bias has no significant effect on investment decision making, while overconfidence has a significant effect on investment decision making.
R. Aditya Rayhan Zanesty, Tio Arya Dewa Prakarsa, Intania Chantika Alina, Nur Aini Rakhmawati
Cryptocurrency is increasingly showing its popularity as an investment medium that is increasingly taking the attention of the Indonesian people, both common people and experts. This phenomenon is prone to market manipulation by pumping and dumping certain cryptocurrency entities, trapping novice investors. The respondents of this study were taken from Indonesian people who have cryptocurrencies and social media users. The method used in this study is a descriptive quantitative research method with a total of 151 respondents. The data instrument used in this study was a questionnaire distributed online. The results obtained through surveys that have been conducted prove that social media influencers have a positive and significant influence on Indonesian people's cryptocurrency purchasing decisions.
This study aims to find out what are the factors that drive consumerperceptions of young Indonesian Muslims towards cryptocurrencyinvestment intentions. The sample in this respondent was selectedusing a purposive sampling technique with the criteria of consumersbeing Muslim. The number of valid respondents was 120. All datawere analyzed using the PLS-SEM method. The variables used inthis study are product knowledge, perceived quality, perceived risk,and behavioral intention. The results of this study indicate that theeffect of product knowledge has a positive effect on the perceptionof the quality of young Muslims towards cryptocurrency investment,product knowledge has a positive effect on the risk perception ofyoung Muslims towards cryptocurrency investment, and theperception of quality has a positive effect on the intentions of youngMuslims. Muslims towards cryptocurrency investment, Riskperception has a negative effect on the intentions of young Muslimstowards the use of cryptocurrency investments, Product knowledgehas a positive effect on the investment intentions of young Muslimstowards cryptocurrency investment. pay more attention to halalsensitivity and have an MUI halal certificate, so that Muslimconsumers can have an interest in cryptocurrency investment.
In this modern era, everything has started to enter the digital realm. This can make things easier in everyday life considering the digital concept is easy access anywhere and anytime without limits. However, this can be a double-edged sword, instead of making work easier, digital concepts can be detrimental too. Therefore a policy in using and utilizing technological advances is very necessary, in order to maintain security for all users. Lately we often hear the term Non-Fungible Token or NFT for short, NFT is often associated with finance and digital economic systems that can represent a valuable item or asset. In Islam, of course, we have our own views, laws and norms in life, one of which is in economic terms. What is the Islamic view on NFT? Is NFT allowed in Islam? This research will discuss and examine these questions.
Retno Mawarini Sukmariningsih, Agus Nurudin, Eko Nursanty
This research aims to look at the potential of government revenue through taxes on digital currencies or better known as cryptocurrencies and against digital assets called NFT. With normative research methods to analyze how cryptocurrencies and digital assets (NFT) should be taxed at low or high tax rates. In addition to understanding cryptocurrency taxation policies as well as NFT, the study also looked at the taxation policies of various countries on cryptocurrencies and digital assets. Each country has different guidelines and considerations for the legal status and policies of the regulation of cryptocurrencies and NFT. There is no consensus between countries about this. Keywords; taxes, cryptocurrencies, digital assets, NFT
Khairunnisa Harahap, Tuti Anggraini, Asmuni Asmuni
Cryptocurrency dapat digunakan sebagai alat pembayaran, Investasi, maupun Trading. Beberapa jenis Cryptocurrency selain Bitcoin juga banyak digunakan. Pro dan kontra di masyarakat terjadi akibat perbedaan pendapat mengenai Cryptocurrency. Karena belum ada legalitas mengenai Cryptocurrency sebagai alat pembayaran maupun mata uang yang diakui di Indonesia. Harganya yang Fluktuatif serta keamanannya yang masih terdapat cela membuat perdebatan mengenai Cryptocurrency seperti pada Bitcoin belum mencapai titik terang. Dalam Perspektif hukum islam, sebagian Ulama berpendapat bahwa bentuk mata uang digital ini tidak mempunyai kejelasan dan tidak dapat dilihat fisiknya memungkinkan terjadinya penipuan menjadikan Cryptocurrency mengandung unsur Gharar. Kemudian penggunaan Cryptocurrency dalam Investasi maupun Trading menjadikannya tidak lepas dari spekulasi mengenai harganya yang sangat Fluktuatif dan hanya digunakan sebagai alat untung rugi maka Cryptocurrency mengandung unsur Maysir. Karena urgensi mata uang Kripto ini sangat luas terutama dalam cakupan teknologi dan ekonomi
Globalization has quickly transformed the economy and society, marked by the rapid integration of data and information, supply chains, and increasingly huge use of technology. The research aims to analyze the level of intention to use blockchain in Indonesia, especially the My-T Wallet developed by Tokoin using the Extended Technology Acceptance Model (TAM) approach. The research modifies the TAM by adding other variables that play an essential role in making decisions about using blockchain. The target population is that the respondents at least know about blockchain developments, in this case, My-T Wallet from Tokoin. The research obtains as many as 103 respondents who fill out the questionnaire through the purposive sampling technique. The data are collected through online surveys and analyzed using the Structural Equation Model (SEM) approach with the SmartPLS software. The findings highlight that the perception of the usefulness of the My-T Wallet application is most strongly influenced by public influence. Meanwhile, perceived ease of use is most influenced by the user interface in My-T Wallet. Then, the intention to use My-T Wallet application is strongly influenced by users’ positive behavior. On the other hand, the level of trust of application users must continuously be increased by paying more attention to government regulations and security aspects.
The significant increase in crypto investment in Indonesia is very high. This is indicated by the increase in crypto transactions, especially bitcoin and the increasing number of member investors in Indodax as one of the crypto transaction platforms in Indonesia. However, this increase is not supported by laws and regulations that can protect investors against their funds that have been deposited on a crypto transaction platform due to platform errors or due to fraud that is rampant in the cryptocurrency world. The fairly high increase in investment has also attracted the attention of the Indonesian government in collecting income taxes for investors in the crypto world which can increase the government's coffers of wealth destined for national development. However, there is also no regulation that regulates how much and how the income tax will be imposed. imposed on investors. So tthe problem arises as to how legal protection is for crypto currency investors in Indonesia and how income taxes can be imposed on crypto investors. The problem approach used in this research is the statutory approach, and the conceptual approach. Legal protection for CryptoCurrency investors is in the form of supervision from BAPPEBTI, supervision from the Investment Supervisory Task Force, security protection from crypto asset market managers and law protection form UU ITE. The imposition of crypto taxes can be imposed as well as the final share income tax, which is 0.1% of the gross amount of crypto asset sales transactions.
Virtual money is a product of specific cryptocurrency algorithms, where no particular institution or authority controls the circulation of this digital money or underlying assets for which there is no basis for pricing and consumer protection. By ceding the money system into the market, Cryptocurrencies require legality considerations. This research aims to explain cryptocurrency as a means of payment from the perspective of Islamic Law. This research uses a literature review or normative approach. The results showed that a Legal Vacuum or the empty laws governing Cryptocurrencies could potentially negatively impact. This is because there is the principle of haram li ghairihi, where something contains an element of uncertainty. In the Indonesian Ulema Council (MUI) perspective through Fatwa No. 116/DSN/-MUI/IX/2017, cryptocurrency is included in the concept of sharia maqashid due to uncertainty of containing element maysir (gambling).
Anton M. Anton Permana, Carty Irawan, Dede Sukmawan
Penelitian ini dilatarbelakangi oleh perdebatan instrumen investasi mana yang terbaik, yaitu Saham atau Cryptocurrency. Tujuan penelitian ini dilakukan untuk mencari tahu strategi mana yang optimal untuk kedua permasalahan tersebut menggunakan Game Theory. Dataset dikumpulkan melalui Google Form yang disebarkan di grup Telegram dan Facebook Saham dan Cryptocurrency. Sebelum dianalisa dengan Game Theory dilakukan harus sudah melalui Uji Validitas dan Uji Reliabilitas agar mengetahui strategi mana yang tidak valid. Setelah dilakukannya analisis ditemukan hasil dengan menggunakan Strategi Murni, yang dimana diambil 2 sudut pandang, yaitu Saham yang diunggulkan dan Crypto yang diunggulkan. Maka dengan penelitian ini, dapat terjawab strategi mana yang terbaik untuk kedua jenis instrumen investasi tersebut.
Afdillah Nur Aisyah Sinaga, Purnama Ramadhani Silalahi
Behavioral finance menyebabkan perilaku investor yang irasional dalam pengambilan keputusannya. Dalam behavioral finance terdapat adanya bias yang berpengaruh keputusan investasi, contohnya regret aversion bias dan overcinfidence. Penelitian ini bertujuan untuk menganalisis pengaruh regret aversion bias dan overconfidence terhadap pengambilan keputusan investasi pada investor generasi z di Indonesia. Teknik pengumpulan data menggunakan survei kuesioner secara online. Data yang telah terkumpul berasal dari responden generasi z yang memiliki pengalaman berinvestasi cryptocurrency. Teknik sampling yang digunakan pada penelitian ini adalah Teknik slovin. Analisis dilakukan melalui dua tahapan yaitu pengujian model pengukuran dan pengujian model struktural. Uji statistik untuk penelitian ini didukung dengan penggunaan aplikasi smartPLS 3. Penelitian ini menunjukkan bahwa regret aversion bias dan overconfidence berpengaruh secara signifikan terhadap pengambilan keputusan investasi cryptocurrency pada investor generasi z di Indonesia.
Sebelum mengambil keputusan dalam melakukan investasi, seorang investor harus mengetahui analisis teknikal. Penelitian ini bertujuan untuk mengetahui perbedaan keakuratan dan nilai return yang dihasilkan pada cryptocurrency periode 2019 – 2020 dengan menggunakan analisis teknikal. Jenis penelitian ini menggunakan pendekatan kuantitatif dengan metode komparatif. Sampel penelitian ini menggunakan purposive sampling, sehingga diperoleh 2 jenis cryptocurrency yang diperdagangkan pada platform Indodax. Teknik analisis data penelitian ini menggunakan platform Indodax untuk menganalisa harga dan dibantu dengan Microsoft Excel. Hipotesis dalam penelitian ini menggunakan uji beda Kruskal-Wallis dengan bantuan software SPSS 25. Hasil dari penelitian ini menunjukkan bahwa analisis teknikal moving average, bollinger band, dan rekative strength index baik dalam keakuratan ataupun nilai return yang hasilkan memiliki perbedaan secara signifikan pada cryptocurrency periode 2019 – 2020 dari segi statistik. Hal ini terjadi karena parameter yang digunakan setiap indikator analisis teknikal berbeda serta terjadinya covid-19 yang telah diumumkan sebagai global poandemic.
The development of technology is currently growing very rapidly, especially in education where there is currently an ilearning system. i-learning is a learning process that utilizes electronic media in the form of computers and networks as a means to exchange information. But in this case data security is minimal, which makes it easy for data to be widely circulated. Blockchain is a set of data records maintained by a group of computers that do not belong to a single entity. A computer command that facilitates an agreement between one party and another without going through a third party is a Smart Contract. In this study, the existence of Blockchain and smart contracts that will be carried out can bring a level of security and transparency to the ilearning platform. Platform Learning blockchain-based will be developed to improve evaluation and facilitate curriculum personalization in an educational context. Focused on the platform to be able to automate evaluation and credential issues and to demonstrate the benefits of the blockchain backend to end users such as college students and university students. To collect data using the application of the SUS method with sampling which gets a data sample value of 93 and has a SUS score of 75, it shows that the blockchain platform for education is included in the Acceptable category.
The purpose of this research is to determine the potential risk of tax losses caused by cryptocurrencies, to identify miners and cryptocurrency users, and to formulate a tax avoidance countermeasure strategy related to cryptocurrency transactions. This study uses qualitative research methods with literature study techniques. The type of data used in the form of textual includes definitions, concepts and arguments contained in the literature relevant to the research problem. The data used are primary data sourced from research articles from journals, and secondary data sourced from supporting documents. The data reduction and data analysis process include data display and content analysis. The results of this research show that the implementation of blockchain technology in the Indonesian tax system is a database integration model that can solve the problems of the underground economy in cryptocurrency transactions. The reason for the results of this study is that regulation of cryptocurrency transactions into the realm of regulation can be done through vertical regulation of the blockchain market, with a sectoral approach. The impact of the results of this study can be the basis for formulating tax policies related to cryptocurrency transactions by utilizing blockchain technology.