A Conceptual Framework of the Blockchain Technology Adoption for Zakat Institution in Indonesia

Authors

  • Zulfikri Zulfikri IIUM Institute of Islamic Banking and Finance Malaysia
  • Salina Kassim IIUM Institute of Islamic Banking and Finance
  • Anwar Hassan Abdullah Othman IIUM Institute of Islamic Banking and Finance Malaysia

DOI:

https://doi.org/10.13135/2421-2172/7221

Keywords:

Blockchain technology, adoption, Zakat, TAM

Abstract

The adoption of blockchain technologies necessitates the consideration of a wide range of factors far beyond the technology focus of most current research. Blockchain technology's ability to record transactions on distributed ledgers opens new possibilities for zakat institutions to improve transparency, prevent fraud, and build trust in the public sector. Even though academic research on blockchain technology is still in its infancy, most academics focus on the technology itself and overlook the zakat institutions adopting it. This paper drew on a comprehensive literature review to propose a conceptual framework for blockchain technology adoption. Zakat institutions can use the proposed framework as a reference point for adopting blockchain applications and for scholars to expand, refine and evaluate research into blockchain technology.

References

Abdulgani, M. A., & Suhaimi, M. A. (2014). Exploring factors that influence Muslim intention to purchase online. 2014 the 5th International Conference on Information and Communication Technology for the Muslim World, ICT4M 2014. https://doi.org/10.1109/ICT4M.2014.7020637

Ahmed, T. A. I., & Zakaria, M. S. (2021). View of Using Blockchain for Managing Zakat Distribution: A Juristic Analytical Study. Al-Hikmah International Journal for Is-Lamic Studies & Human Sciences, 1(2). https://doi.org/https://doi.org/10.46722/hkmh.4.2.21b

AJZEN, I. (2012). Martin Fishbein’s Legacy: The Reasoned Action Approach. The Annals of the American Academy of Political and Social Science, 640, 11–27. http://www.jstor.org/stable/23218420

Albayati, H., Kim, S. K., & Rho, J. J. (2020). Accepting financial transactions using blockchain technology and cryptocurrency: A customer perspective approach. Technology in Society, 62, 101320. https://doi.org/10.1016/j.techsoc.2020.101320

Andayani, D. R., Hanum, K., Zaenal, M. H., Asmita, B., Damayanti, D. R., Fahrudin, & Kardiman, M. (2019). Statistik Zakat Nasional 2018. Retrieved from https://baznas.go.id/szn2018

Aziah Abu Kasim, N. (2012), "Disclosure of Shariah compliance by Malaysian takaful companies", Journal of Islamic Accounting and Business Research, Vol. 3 No. 1, pp. 20-38. https://doi.org/10.1108/17590811211216041

Baznas, P. (2017). Outlook Zakat Indonesia. Jakarta. Baznas Pusat

Behnke, K., & Janssen, M. F. W. H. A. (2020). Boundary conditions for traceability in food supply chains using blockchain technology. International Journal of Information Management, 52, 101969. https://doi.org/10.1016/J.IJINFOMGT.2019.05.025

Crosby, M., Nachiappan, Pattanayak, P., Verma, S., & Kalyanaraman, V. (2016). BlockChain Technology: Beyond Bitcoin. In Applied Innovation Review.

Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly: Management Information Systems. https://doi.org/10.2307/249008

Dawood, M. (2008). Ensuring the quality of Syariah Advice. Middle Eeast Foreign Exchange (MEFX), Dubai Financial Center, Dubai, 1-3.

Demirkan, S., Demirkan, I., & McKee, A. (2020). Blockchain technology in the future of business cyber security and accounting. Journal of Management Analytics, 7(2), 189–208. https://doi.org/10.1080/23270012.2020.1731721

Hanudin, A. (2007). An analysis of mobile credit card usage intentions. Information Management & Computer Security, 15(4), 260–269. https://doi.org/10.1108/09685220710817789

Hsiao, C. H., & Yang, C. (2011). The intellectual development of the technology acceptance model: A co-citation analysis. International Journal of Information Management, 31(2), 128–136. https://doi.org/10.1016/j.ijinfomgt.2010.07.003

Hudayati, A., & Tohirin, A. (2010). Management of Zakah: Centralised Vs Decentralised Approach. Seventh International Conference – The Tawhidi Epistemology: Zakat and Waqf Economy, Bangi 2010, (June), 351–374.

Kaakeh, A., Hassan, M. K., & Van Hemmen Almazor, S. F. (2019). Factors affecting customers’ attitude towards Islamic banking in UAE. International Journal of Emerging Markets, 14(4), 668–688. https://doi.org/10.1108/IJOEM-11-2017- 0502

Kallanmarthodi, G., & Vaithiyanathan, M. (2012). Assessment of a modified technology acceptance model among e-banking customers in Coimbatore city. International Journal of Innovation, Management and Technology, 3(2), 181.

Keen, P.G.W. (1997) Are You Ready for the “Trust” Economy. Computer World, 31, 80.wun.

Lu, Y. (2018). Blockchain: A Survey on Functions, Applications and Open Issues. Journal of Industrial Integration and

Management, 03(04), 1850015. https://doi.org/10.1142/S242486221850015X.

Manning Fiegen, A. (2010), "Systematic review of research methods: the case of business instruction", Reference Services Review, Vol. 38 No. 3, pp. 385-397. https://doi.org/10.1108/00907321011070883

Marsal-Llacuna, M. L. (2018). Future living framework: Is blockchain the next enabling network? Technological Forecasting and Social Change, 128, 226–234. https://doi.org/10.1016/j.techfore.2017.12.005

Matemba, E. D., & Li, G. (2018). Consumers’ willingness to adopt and use WeChat wallet: An empirical study in South Africa. Technology in Society, 53, 55–68. https://doi.org/10.1016/J.TECHSOC.2017.12.001

Mayer, R. C., Davis, J. H., & Schoorman, F. D. (1995). An Integrative Model of Organizational Trust. The Academy of Management Review, 20(3), 709. https://doi.org/10.2307/258792

McCloskey, D. W. (2006). The importance of ease of use, usefulness, and trust to online consumers: An examination of the technology acceptance model with older consumers. Journal of Organizational and End User Computing, 18(3), 47–65. https://doi.org/10.4018/JOEUC.2006070103.

Peters, G. W., & Panayi, E. (2016). Understanding modern banking ledgers through blockchain technologies: Future of transaction processing and smart contracts on the internet of money. New Economic Windows, 239–278. https://doi.org/10.1007/978-3-319-42448-4_13

Purwanto, P., Sulthon, M., & Wafirah, M. (2021). Behavior Intention to Use Online Zakat: Application of Technology Acceptance Model with Development. Ziswaf: Jurnal Zakat Dan Wakaf, 8(1), 44. https://doi.org/10.21043/ziswaf.v8i1.10457

Rejeb, D. (2020). Blockchain and Smart Contract Application for Zakat Institution. International Journal of Zakat, 5(3), 20– 29. https://doi.org/10.37706/ijaz.v5i3.260

Roziq, A., Wijayanti, C., & Irmadariyani, R. (2020). Modification Of TAM Model Application Of System Of Information Of Management Of BAZNAS In Indonesia. 9(04), 1889–1893.

Santoso, B., Amilahaq, F., Ahmad, S., Emilina, N., & Nasir, M. (2020). Study on Block-Chain Implementation in Zakat Management (Case Study in Indonesia). ICIC 2020: Proceedings of the 1st International Conference on Islamic Civilization, 232. https://doi.org/10.4108/eai.27-8-2020.2303244

Shaikh, I.M., Qureshi, M.A., Noordin, K., Shaikh, J.M., Khan, A. and Shahbaz, M.S. (2020), "Acceptance of Islamic financial technology (FinTech) banking services by Malaysian users: an extension of technology acceptance model", Foresight, Vol. 22 No. 3, pp. 367-383. https://doi.org/10.1108/FS-12-2019-0105

Shaikh, I.M., Qureshi, M.A., Noordin, K., Shaikh, J.M., Khan, A. and Shahbaz, M.S. (2020), "Acceptance of Islamic financial technology (FinTech) banking services by Malaysian users: an extension of technology acceptance model", Foresight, Vol. 22 No. 3, pp. 367-383. https://doi.org/10.1108/FS-12-2019-0105

Sheppard, B. H., Hartwick, J., & Warshaw, P. R. (1988). The Theory of Reasoned Action: A Meta-Analysis of Past Research with Recommendations for Modifications and Future Research. Journal of Consumer Research, 15(3), 325. https://doi.org/10.1086/209170

Usman, H., Mulia, D., Chairy, C. and Widowati, N. (2022), "Integrating trust, religiosity and image into technology acceptance model: the case of the Islamic philanthropy in Indonesia", Journal of Islamic Marketing, Vol. 13 No. 2, pp. 381-409. https://doi.org/10.1108/JIMA-01-2020-0020

Usman, H., Projo, N.W.K., Chairy, C. and Haque, M.G. (2022), "The exploration role of Sharia compliance in technology acceptance model for e-banking (case: Islamic bank in Indonesia)", Journal of Islamic Marketing, Vol. 13 No. 5, pp. 1089- 1110. https://doi.org/10.1108/JIMA-08-2020-0230

Venkatesh, V, Morris, M. G., Davis, G. B., & Davis, F. D. (2003). User Acceptance of Information Technology: Toward a Unified View. Source: MIS Quarterly, 27(3), 425–478. https://doi.org/10.2307/30036540

Venkatesh, Viswanath, Morris, M. G., Davis, G. B., & Davis, F. D. (2003). User acceptance of information technology: Toward a unified view. MIS Quarterly: Management Information Systems. https://doi.org/10.2307/30036540

Viriyasitavat, W., & Hoonsopon, D. (2019). Blockchain characteristics and consensus in modern business processes. Journal of Industrial Information Integration, 13, 32–39. https://doi.org/10.1016/J.JII.2018.07.004

Wunsche, A. (2016). Technological Disruption of Capital Markets and Reporting? Chartered Professional Accountants of Canada, 1–27.

Zulfikri, Z., Kassim, S. H., & Hawariyuni, W. (2021). Proposing Blockchain Technology Based Zakat Management Model to Enhance Muzakki’s Trust in Zakat Agencies: A Conceptual Study. Journal of Accounting Research, Organization and Economics,4(2), 153-163

Downloads

Published

2023-04-13

How to Cite

Zulfikri, Z., Kassim, S., & Abdullah Othman, A. H. (2023). A Conceptual Framework of the Blockchain Technology Adoption for Zakat Institution in Indonesia. European Journal of Islamic Finance, 10(1), 16–23. https://doi.org/10.13135/2421-2172/7221

Issue

Vol. 10 No. 1 (2023)

Section

Peer-reviewed Articles

License

Authors keep the copyrights for their work and give the journal the work's first publication copyright, which is at the same time licensed under a Creative Commons License – Attribution, which in turn allows other parties to share the work with an acknowledgement of the work's authorship and initial publication in this journal.

Similar Articles

<< < 1 2 3 

You may also start an advanced similarity search for this article.