Cloud Computing has powered a wide range disruptive technology that changed the economic landscape of many industries. One of these disruptive technologies is Block Chains and the emergence of cryptocurrencies like Bitcoins. This research explores the Islamic perspective of Bitcoin Mining. For a Bitcoin transaction to be processed it needs to be ‘mined’, which is the process to solving a mathematical equation as well as approve Bitcoin transactions distributing it over various ledgers. The research will highlight the notion of anonymity of the source and destination of the funds in Bitcoin which seen as problematic with Islamic Banking scholars. Especially since anonymity is the cornerstone of Bitcoin and the feature that allowed Bitcoin and other cryptocurrencies to spread. This research will rely on leading Islamic Banking scholars in the Kingdom of Bahrain to evaluate Bitcoin Mining’s compliance with Sharia.
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