Post-transaction processing operations in the blockchain platform: a model for using fintech in Islamic finance

Large amounts of daily financial values ​​are transferred to the financial markets. The stability and efficiency of this system rely on a solid infrastructure for the transfer and settlement of these transactions. This article analyzes the role that blockchain can play in improving these processes. Blockchain has regulatory and technical challenges, which it is likely to be able to evolve rather than evolve. Post-transaction trading processes enable buyers and sellers to exchange details, verify transactions, change ownership of documents, and exchange security. Studies have shown that the model of post-transaction processing operations based on blockchain can increase efficiency and improve the compliance of post-processing operations with the principles of jurisprudence and Sharia, especially the harmless rule and the Darya barrier (blocking the ways of evil). Also, the transparency of the blockchain network reduces the possibility of fraud and misconduct. On the other hand, the disadvantages of the current process such as delays in obtaining ownership transfer confirmation, inconsistent information, participation risk, operational risk, settlement ambiguity, the complexity of trust accounts, and costly intermediaries are minimized, which in turn causes Compliance with Islamic jurisprudence is promoted.