Blockchain, Fintech, and Islamic Finance: Building the Future in the New Islamic Digital Economy

Blockchain, Fintech, and Islamic Finance explores the potential of digital disruption to shrink the role and relevance of todays banks, create better, faster, cheaper services, and create new ways to comply with Islamic values. It also discusses the rise of tokenization and the new tokenized economy, as well as the challenges and risks of utilizing frontier technologies such as AI, blockchain, and IoT.

Format: Paperback / softback
Length: 278 pages
Publication date: 06 September 2022
Publisher: De Gruyter

Following the resounding success of the inaugural edition, which brought to light the transformative impact of the digital revolution in Islamic financial services, this revised and updated second edition of Blockchain, Fintech, and Islamic Finance emerges. The authors passionately reiterate the immense potential of digital disruption to diminish the traditional roles and relevance of contemporary banks, while simultaneously fostering the creation of superior, expedient, and cost-effective services that will seamlessly integrate into our daily lives. Moreover, the digital transformation holds the promise of enabling the development of innovative approaches to uphold Islamic values, thereby restoring trust and confidence in the current financial system.

In this revised edition, the authors delve into the forefront of decentralized finance (DeFi), distributed intelligence, stablecoins, and the seamless integration of artificial intelligence (AI), blockchain, data analytics, and Internet of Things (IoT) devices to ensure the judicious and sustainable adoption of technology. The book explores critical innovations, structural and institutional developments in the realm of financial technologies, encompassing two rapidly growing trends that harmonize and complement each other: tokenization, which transforms illiquid assets across the globe, ranging from private equity to real estate and luxury goods, into liquid forms, enabling more efficient trading; and the emergence of a new tokenized economy, where the inevitable emergence of new rules and mechanisms will unlock the full potential of these transformative technologies. These complementary and often interrelated trends will ultimately contribute to the decentralization of finance, shaping the future of financial services.

This comprehensive book offers invaluable insights into the transformative shifts in processes and the formidable challenges that must be overcome for the practical application of AI and blockchain. It provides a roadmap for navigating these innovations, highlighting the importance of approaching them with a forward-thinking mindset. Furthermore, the book delves into emerging technological risks, equipping readers with the necessary knowledge to navigate these complexities and safeguard against potential threats.

By presenting a comprehensive and up-to-date examination of the intersection of blockchain, fintech, and Islamic finance, this second edition serves as a valuable resource for scholars, researchers, practitioners, and policymakers alike. It empowers individuals to stay at the forefront of this rapidly evolving field, enabling them to make informed decisions and drive positive change in the world of finance.

Weight: 493g
Dimension: 240 x 170 (mm)
ISBN-13: 9783110744897
Edition number: 2nd ed.