Blockchain Technology Applications In The Islamic Financial Industry -the Smart Sukuk Of Blossom Finance's Platform In Indonesia Model-

Abstract

This research aimed to identify the applications of Blockchain in the Islamic financial industry, with a case study of smart sukuk issued through the platform of Blossom Finance in Indonesia. The study concluded that there are many advantages and areas for Blockchain applications in Islamic finance, especially through the use of smart contracts, cloud data storage, Zakat collection, Waqf management, Takaful and smart sukuk, which leads to increase transparency and effectiveness of Islamic finance. Smart Sukuk issued through Blossom Finance platform in Indonesia is one of the first technological innovations in this field, as it had an important role in financing microfinance cooperatives in Indonesia.