Record Details

Initial Coin Offering (ICO) in Perspective Law of Sharia Business

Al-Ahkam

View Archive Info
 
 
Field Value
 
Title Initial Coin Offering (ICO) in Perspective Law of Sharia Business
 
Creator Subarkah, Imam
 
Subject Initial Coin Offering (ICO), crypto money, maṣlaha mursala, maqāṣid al-sharī’a
 
Description Tixl (TXL) is a crypto money project that uses Initial Coin Offering (ICO) to fund its development phase. Various problems underlying the existence of Tixl (TXL) and the proposed solutions are closely related to the condition of society in the information technology era. This study aims to determine the various factors underlying the use of ICO as a way to raise funds, examine Tixl (TXL) as a crypto money project and its position in public life which is reviewed in the perspective of the maṣlaḥa mursala, and token sales transactions in ICO organized by Tixl gmmbH in the perspective of Islamic treaty law. This research is a library research using a conceptual approach and qualitative analysis techniques. This paper shows that there are three factors underlying the use of ICOs as a way to raise funds, namely a change in orientation in the business model, tokenization, and characteristics of business activities. As a crypto money project, Tixl (TXL) cannot provide benefits that are comprehensive or kully, even the harm caused is greater than the benefits. Transaction of token sales in ICO held by Tixl (TXL) is a transaction that is damaged because it is contrary to maqāṣid al-sharī'ah.
 
Publisher Faculty of Sharia and Law, Universitas Islam Negeri (UIN) Walisongo Semarang
 
Contributor —
 
Date 2020-07-07
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://journal.walisongo.ac.id/index.php/ahkam/article/view/4701
10.21580/ahkam.2020.30.1.4701
 
Source Al-Ahkam; Volume 30, Nomor 1, April 2020; 1-18
2502-3209
0854-4603
 
Language eng
 
Relation https://journal.walisongo.ac.id/index.php/ahkam/article/view/4701/2724
 
Rights Copyright (c) 2020 Al-Ahkam
http://creativecommons.org/licenses/by-sa/4.0