Smart Sukuk on Blockchain Technology: A Systematic Literature Review Retno Dyah Pekerti (a*), Dede Rizal Nursamsi (b), Missi Hikmatyar (c), Isnaen Nurzaman (d)
(a,d) Faculty of Economic and Business, Universitas Cipasung Tasikmalaya
Jalan Borolong, Tasikmalaya, Indonesia
retnodyahp[at]uncip.ac.id
(b) Faculty of Science and Technology, Universitas Cipasung Tasikmalaya
Jalan Borolong, Tasikmalaya, Indonesia
(c) Faculty of Technic Information, Universitas Perjuangan Tasikmalaya
Jalan Peta, Tasikmalaya, Indonesia
Abstract
Smart Sukuk is an innovation in conventional Sukuk that utilizes blockchain technology. This technology aims to enhance efficiency, reduce costs, and increase transparency, making it accessible to small and medium-sized enterprises (SMEs). Smart Sukuk allows for increased participation of both retail and corporate investors in Sukuk issuances. Blossom Finance is the pioneer in issuing Sukuk using blockchain technology, with its first application in the Baitul Maal wat Tamwil (BMT) Bina Ummah Indonesia. The objective of this study is to explore the trends and potential of smart Sukuk from 2018 to 2023. A systematic literature review was conducted to uncover the current research trends in smart Sukuk. Using the Semantic Scholar database, we collected 23 selected articles and analyzed them using VOSviewer. The analysis results indicate that research on smart Sukuk is still limited, particularly in the area of technology-based Sukuk issuance and the opportunities and challenges it presents. One of the reasons for this is the lack of clear regulations regarding the use of blockchain technology in smart Sukuk.
