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Journal : Jurnal Riset Manajemen dan Ekonomi

Mining Cryptocurrency di Blockchain Indika Rakhman; Munir Munir; Nurul Musyafa’ah; Sri Minarti
JURNAL RISET MANAJEMEN DAN EKONOMI (JRIME) Vol. 1 No. 1 (2023): JANUARI : JURNAL RISET MANAJEMEN DAN EKONOMI
Publisher : Institut Teknologi dan Bisnis (ITB) Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54066/jrime-itb.v1i1.446

Abstract

Mining cryptocurrencies on the blockchain is a method for collecting crypto by breaking secret codes compiled with mathematical algorithm equations. Miners will receive rewards in the form of digital coins according to the amount of crypto mined and the type of crypto, this is because each crypto has its own level of difficulty. Crypto includes electronic money (e-money), where the use of e-money as a medium of exchange in modern transactions is still being debated among contemporary scholars about its legitimacy. Two things that become the problem are (1) what is the mechanism for mining cryptocurrency on the blockchain, (2) how is the review of Islamic Economic Law on cryptocurrency mining on the blockchain. The purpose of this study is to describe and explain cryptocurrency mining practices on the blockchain and to find out the review of Islamic Economic Law on cryptocurrency mining. This research is a qualitative research by collecting data and information through interviews. The data sources include primary data sources, namely interviews with crypto miners, secondary data sources, namely books, journals, theses, scientific papers and other written works. While the tertiary data comes from dictionaries, encyclopedias, and related articles. This research data collection method obtained from interviews, observation, and documentation. While the method used to analyze the data is a qualitative analysis method using the theory of mining, al-mal, and ju'alah. From the research results it is known: (1) The cryptocurrency mining mechanism on the blockchain is carried out with a supercomputer facilitated by a GPU, FPGA or ASIC by using certain scripts on the BTC/ETH network to find new blocks containing crypto to get rewards (sell). (2) According to the Sharia Economic Law review of mining cryptocurrency on the blockchain, crypto reward (ju'al) results can be accepted as assets according to the definition of the Hanafiyyah scholars, Ibn Abidin, Imam az-Zaila'i, Imam al-Syatibi, Ibn Arabi and Syafii scholars. However, it is not accepted as a means of payment like conventional money (gharar, dharar, qimar), but both must comply with the conditions and limits set by the Shari'a, this is stated in the Fatwa of the National Sharia Council-Indonesian Ulema Council No: 116/DSN-MUI/ IX/2017 concerning Sharia Electronic Money.
Riba and Interest in The View Of The Four Madzhab and Contemporary Ulama Munir Munir; Ahmad Adil Manan; Shofa Robbani; Ahmad Munir
JURNAL RISET MANAJEMEN DAN EKONOMI (JRIME) Vol. 1 No. 1 (2023): JANUARI : JURNAL RISET MANAJEMEN DAN EKONOMI
Publisher : Institut Teknologi dan Bisnis (ITB) Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54066/jrime-itb.v1i1.447

Abstract

The discourse on usury is a classic issue, both in the development of Islamic thought and in Islamic civilization. Riba is a complicated problem that often occurs in society. The research focus that forms the basis for this research is (1) What are the opinions of the 4 madzhab scholars regarding usury? (2) What are the opinions of contemporary scholars about bank interest?, and the purpose of this research is (1) to find out what the opinions of 4 madhhab scholars about usury are, (2) to find out what contemporary scholars think about bank interest. This research is a type of library research. The results of this study are that the opinion of the Hanafi Madzhab regarding the sale and purchase of goods that are exchanged or weighed with usury goods if they are weighed for trading and there is an addition, it can be said that usury fadhl. The opinion of the Maliki school of illat usury is when usury goods are used as a price. According to the opinion of the Shafi'i Madhhab, illat usury focuses on usury goods when they become the value of the price, if the two goods are valued or become the price of something. While illat on food is anything that can be eaten and fulfills several criteria such as food or staple food, according to the Hambali Madzhab what can be said is usury is every sale and purchase of a kind that is weighed with one date. Bank interest according to the opinion of contemporary scholars, namely KH. Sahal Madfudh explained about the exploitative, inhuman and consumptive nature of bank interest. Therefore, the concept of bank interest for productive behavior for people's business according to kyai sahal is permissible. Meanwhile, bank interest for consumptive and unproductive behavior is prohibited. According to M. Quraish Shihab, bank interest is not illegal, considering that the current interest does not contain elements of persecution and oppression among human beings. According to him, it does not prohibit bank interest because there are still scholars who allow it, because the interest has been agreed upon at the beginning of the transaction and does not contain elements of oppression and persecution, but if you want to be safe, you should make transactions at Islamic banks. Yusuf Al-Qardhawi said that bank interest taken by savers at the bank is usury which is forbidden, Yusuf Qardhawi firmly stated that bank interest is the same as usury which will always be punished as haram.