Islamic finance in the metaverse: meta-finance frameworks for supporting the growth of Shariah-compliant finance options in the metaspace
Islamic Finance in the Digital Age, Edward Elgar , ss.301-314, 2024
- Yayın Türü: Kitapta Bölüm / Araştırma Kitabı
- Basım Tarihi: 2024
- Doi Numarası: 10.4337/9781035322954.00027
- Yayınevi: Edward Elgar
- Sayfa Sayıları: ss.301-314
- Anahtar Kelimeler: Cryptocurrencies, Financing, Metaverse, Shariah Compliance, Sukuk
- Yıldız Teknik Üniversitesi Adresli: Evet
Özet
The metaverse has emerged as a topic of paramount importance in recent years, functioning as a virtual universe where individuals and companies can interact. While the metaverses are still in their nascent stages, there has been a notable increase in interest and capital inflow into these virtual realms. For investors and participants focused on Shariah-compliant financial practices, this presents a considerable challenge due to the current lack of Islamic financing frameworks applicable to the metaverse. In our study, we have developed new frameworks for facilitating Shariah-compliant financing within the metaverse, highlighting the challenges and considerations necessary for establishing Shariah-compliant financial instruments in this context. Our framework adapts traditional Islamic financing options, such as Murabaha and Sukuk, to the metaverse context, ensuring that both contracting mechanisms and crypto-payments align with Shariah principles and support the unique environment of the metaverse. This framework marks a significant step forward in the development of Shariah-compliant financing models within the metaverse.