Work

Proposing Blockchain Technology Based Zakat Management Model to Enhance Muzakki’s Trust in Zakat Agencies: A Conceptual Study

Year: 2021

Type: article

Abstract: Objective – This study proposes a conceptual framework of Zakat based management model using blockchain technology with its transparent, secure, auditable, and efficient system in order to enhance the trust in zakat agencies. Design/methodology – This study is based on literature and theoretical reviews. This study took BAZNAS as the model of the Indonesian zakat agency to use Blockchain-based zakat payment on which zakat payers can track the fund allocated to the beneficiaries directly. Results – This research demonstrates the importance of Blockchain and smart contract technologies in zakat management by developing a model that combines zakat management agencies with the components of Blockchain and smart contract technologies. Research limitations/implications – The proposed model can contribute to the sustainability and efficiency of zakat agencies and is in line with the poverty eradication effort in Indonesia.

Source: Journal of Accounting Research Organization and Economics

DOI: 10.24815/jaroe.v4i2.20467

Authors: Zulfikri Zulfikri, Salina Hj Kassim, Weni Hawariyuni

Institutions: Universitas Muhammadiyah Sumatera Utara, International Islamic University Malaysia, Universitas Sumatera Utara

Language: English

Topic: Islamic Finance and Banking Studies

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Peace, justice, and strong institutions

Open Access status: gold

Estimated APC paid: $98