The Digital Waqf: Reconstructing Classical Perpetuity and Cyberspace Jurisdiction in a Blockchain Era Saumya Verma
Soundarya Group of Institutions, Bangalore, India
Abstract
In history, the Islamic waqf has been considered a strong force for socio-economic growth. ^Waqf^ is created on the principle of ^perpetuity^, which means once dedicated, the property becomes inalienable, implying it cannot be sold, inherited, or gifted, as ownership is transferred to Allah for an indefinite period. But modern waqf institutions often have problems with mismanagement, legal contests, and losing assets, which goes against this principle. At the same time, the rise of blockchain technology and smart contracts offers a paradigm-shifting solution, but their integration raises basic legal issues: Can code make takbid happen? What is the jurisdiction of a decentralised digital waqf? The Islamic waqf has historically been a strong force for socio-economic progress. Its assets must be unalterable and its goal must be perpetual. However, the modern waqf institutions often come across the issues with mismanagement, litigation, and losing their assets, which goes against this principle. Simultaneosly, the rise of blockchain technology offers a solution that changes the game, but its use brings up certain important legal issues like ^whether a blockchain code can make things last forever?^, ^what is the jurisdiction of a decentralised digital waqf?^ etc. Therefore, this study examines the significant disparity among Islamic waqf jurisprudence and the modern legal challenges arising from the digitization of Waqf. This study examines the significant disparity between traditional waqf jurisprudence and the contemporary legal challenges arising from its digitisation. This study combines classical Islamic law with modern technology law. This paper utilises a doctrinal legal research methodology. It undertakes a systematic examination of primary classical fiqh sources (from the Hanafi and Shafi^i schools) regarding the prerequisites for a valid (sahih) waqf. This is compared to a study of the architectural aspects of blockchain technology i.e. immutability, transparency, and smart contract automation to see if they are doctrinally compatible. Initial analysis shows a strong link between blockchain^s inherent immutability and the classical principle of takbid. This suggests that a ^Digital Waqf^ could be a noble idea. However, considerable legal challenges are recognised, especially regarding the establishment of a governing legal jurisdiction for decentralised autonomous organisations (DAOs) and the necessity to encode intricate Shariah governance principles into rigid code.
Keywords: Islamic Finance, Islamic Waqf, Digital Waqf, Smart Contracts, Perpetuity.
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Topic: Technological Moderation for Collective Legal Response (Legal Innovation- Collaborative Regulation- Technology and Law)
